Rocket Fuel, an advertising tech firm that uses big data, has set the terms of its forthcoming initial public offering to raise $102 million, the company announced today.
Rocket Fuel’s service purchases advertising impressions from ad-network exchanges and sells them at a markup to its customers, who then pay the company for enhanced customer targeting. The company was able to turn $41 million of media costs (advertising purchases) into $92 million in revenue for the 6 months ending June 30, 2013, as VentureBeat previously reported.
[aditude-amp id="flyingcarpet" targeting='{"env":"staging","page_type":"article","post_id":810142,"post_type":"story","post_chan":"none","tags":null,"ai":false,"category":"none","all_categories":"business,entrepreneur,","session":"A"}']Per terms of the IPO, Rocket Fuel plans to raise $102 million by offering 4 million shares at $24 to $27 per share. That would give the company a fully diluted market valuation of about $981 million.
Founded in 2008, the Redwood City, Calif.-based startup has previously raised $76.6 million in funding from Northgate Capital, Mohr Davidow Ventures, Nokia Growth Partners, and others. The company currently has 784 active customers.
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When it goes public, it will be listed on the NASDAQ under the ticker FUEL.
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