February - 2012
OpenX, the online digital advertising upstart, announced a few days ago that it had reached profitability for the first time, as well as “exceeding an annualized revenue run rate of more than $100M” in its fourth quarter.
It’s certainly a milestone for the Los Angeles-based start-up, which competes with a little company called Google. OpenX has raised almost $51 million in funding since 2007, the latest round being $20 million last year.
CEO Tim Cadogan — a former Yahoo ad exec who arrived at OpenX in 2008 — talked about all this, and about where the online display market online is headed, in a video interview with me last week. Online advertising startup OpenX Technologies has reached profitability in the fourth quarter of 2011, and has passed a $100 million annual revenue run rate.
The $100 million revenue number is a milestone for startups or private companies.
OpenX served more than one trillion ad impressions in 2011 and now does more than 200 billion ad transactions per month. OpenX Market, the company’s ad exchange, grew 700% year-over-year. OpenX offers both ad serving and an ad exchange through its OpenX Enterprise product.
OpenX customers include Groupon, TheStreet, Turn and [x+1].
OpenX last year raised $20 million led by SAP Ventures to expand internationally. OpenX originally started as an open source ad serving technology known as OpenAds focusing on small- to medium-sized businesses but has increasing gone after larger competitors such as Google’s DoubleClick.