Tuesday, March 13, 2018

OpenX Revenues Rise To $172M

Los Angeles-based advertising exchange and technology developer OpenX said on Tuesday that its net revenues rose to $172M in 2017, as it saw 20 percent growth in its revenues for the fourth quarter. The privately held company said the results represented its tenth straight year of growth. The release of the firm's annual revenues are quite unusual, since OpenX is still private, and may indicate the company either is seeking to be acquired or is close to its long-rumored IPO. OpenX said the growth came from its mobile, video, and quality initiatives. OpenX said this is the fourth straight year that the company has been profitable, although it did not detail any further finances around that profitability. The company said it invested over $50M in R&D efforts towards its technology an product in 2017. OpenX is led by CEO Tim Cadogan.