Mobile advertising technology company Rubicon Project announced its acquisition of Mobsmith, formerly NearbyAd, this morning.Mobsmith will give the mobile ad specialist an actual advertising platform for its clients, who use Rubicon Project for its optimization expertise. It takes Rubicon into an area where it competes head-to-head with Google’s ad portfolio.
“We’re excited to become part of the Rubicon Project team and continue to provide a full end-to-end mobile platform that generates more revenue for publishers.” said Ingrid Letsiyo, CEO and co-founder of Mobsmith.
Rubicon Project claims to have the largest base of comScore 500 publishers, including a third of the comScore 100, and access to an audience of 650 million unique users, making it the second largest according to comScore.
Last year, NearbyAd relaunched as Mobsmith with a mobile ad platform allowing clients to create targeted mobile campaigns directly competing with Google’s DoubleClick platform.
“Many of our clients used products such as Doubleclick for Mobile but found them to be insufficient for serving and targeting premium campaigns.” said Lestiyo in a press release last year.
“In order for publishers to sell at CPMs that can support a direct sales force, they need to offer their advertisers more than the standard banner, and we provide the tools and technology to execute premium campaigns at scale…”
Rubicon Project paid $10 million for Mobsmith according to All Things D.
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