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Magnite

Marketing Automation
Product stageSegments
Growth
?
AdTech
?

Magnite is the world’s largest independent supply-side ad platform (SSP) specializing in premium ad content for the connected TV (CTV) market. Formerly known as Rubicon Partners, Magnite was launched in June 2020, subsequent to its merger with Telaria (SSP for premium video ad content). Magnite’s solutions for ad sellers allow content publishers to showcase their content in an invitation-only marketplace while providing real-time insights and customer identity solutions. For ad buyers, Magnite’s platform provides access to 100+ sources of live streaming content and insights on audience activity, where it leverages first and third-party data solutions from its data partners, which include Salesforce, Adobe, Oracle, and LiveRamp. In May 2022, Magnite signed an agreement with NewsGuard ,a trust ratings provider to improve the brand safety and quality of Magnite’s news-oriented ad inventory. More recently, in February 2023, the company unveiled Magnite Streaming, a singular supply-side platform that merges technology from the Magnite connected TV and SpotX platforms. In April 2023, the firm introduced ClearLine, a self-service option that enables ad agencies to directly purchase premium video inventory on its platforms. In June 2023, the firm launched Magnite Access, a suite of omnichannel audience products aimed at helping media owners and their advertising clients optimize data assets.

Magnite’s competitive edge lies in its wide reach, given the number of premium publishers in its network as well as its omnichannel capabilities, which include CTV as well as direct-to-video (DTV) channels such as video, mobile, display, and digital out of home (DOOH). As of September 2021, the firm claims to have a market share of 20%–25% in the CTV market, which it plans to grow to more than 30% within the next five years. 

Key customers and partnerships

As of September 2021, Magnite’s clientele consisted of more than 150,000 marketers, 2,100+ publishers, and 150 demand-side ad platforms (DSP), including Google Ad Manager, Verizon media, and MediaMath. 

In December 2021, it was reported that Magnite maybe considering a strategic deal with one of its DSP partners MediaMath. Such a deal would result in the creation of an end-to-end advertising platform and represent a significant consolidation move in the AdTech space.   In June 2022, Magnite entered the content creation tools space in collaboration with Primis, a video discovery platform to launch new video marketplace focusing on sustainability.

Magnite has entered into a number of partnerships to expand its offerings in the Connected TV space. This includes partnerships with original equipment manufacturers of smart TVs ( LG and Samsung ), media agencies ( Horizon Media ), as well as ad-supported video-on-demand (AVOD) services ( rlaxx TV ), an to expand its offerings globally. In June 2022, Magnite entered the content creation tools space in collaboration with Primis, a video discovery platform to launch new video marketplace focusing on sustainability.

Funding and financials

In March 2021, Magnite raised USD 400 million in Post IPO debt funding. The funding was to aid with its acquisitions of SpotX (video advertising platform for CTV) for USD 1.1 billion (February 2021) and Spring Serve (video ad serving tool for OTT) for USD 31 million (July 2021).

Magnite recorded revenue ex-TAC (net of acquisition cost) of USD 577.1 million (23% YoY growth) and an adjusted EBITDA margin of 35% in FY 2022. For the third quarter of 2023 (Q3 2023E), the firm expected to achieve a revenue ex-TAC between USD 128 million and USD 132 million, and for CTV revenue to be between USD 50 million and USD 52 million. For FY2023E, the company expected revenue ex-TAC to be in the mid-to-high single digits. 

Marketing Automation

Marketing Automation

Key stats
Featured companies
156
Total funding (USD)
17.9 Bn
Total addressable market (USD)
337.0 Bn
Key competitors
 
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Company profile
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Recent Updates

Funding
Feb 6, 2024
Magnite enters new senior secured revolving credit and term loan facilities
Marketing Automation
Geographic expansion
Dec 12, 2023
Magnite opens first office in India to support digital ad market
Marketing Automation
Earnings/results
Aug 9, 2023
Magnite beats Q2 2023 analyst expectations; upgrades FY2023 guidance
Marketing Automation
Product updates
Jun 15, 2023
Magnite launches Magnite Access to optimize media data assets
Marketing Automation
Earnings/results
May 9, 2023
Magnite beats Q1 2023 consensus estimates; expects high single digit FY2023 revenue growth
Marketing Automation
Product updates
Apr 17, 2023
Magnite introduces ClearLine to provide direct access to premium video inventory
Marketing Automation

Company Brief


HQ location:
Los Angeles CA USA
Founded year:
2007
Employees:
501-1,000
Total Funding:
USD 940.0 million
Last Funding
USD 540.0 million, Feb 2024

Funding


Funding data are powered by Crunchbase
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