“Aggregation is hard!”….That’s what people told us, when we first started telling our story 4 months ago. Well ain’t that so! After who-knows-how-many lines of code and speaking to almost half the online publisher and ad network community, we figured out how to “automate” the same process that websites struggle with every day; including doing research on what network to use, executing contracts, playing phone tag with ad support, exchanging countless emails, deciphering spreadsheets and banging their heads against the wall (ok…we didn’t automate that part) to optimize their ad revenue on a daily basis.
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(an excerpt from Frank’s blog at www.FounderBlog.com) So. about the Rubicon Project… First off, I have a confession to make. Five months ago, we raised a round of venture capital. We.ve raised a total of $6 million, $4 million in equity funding from Clearstone Venture Partners and $2 million in venture debt from Square1 bank. Clearstone’s capital was used to incubate the company and develop the product. They are one of the best investors I.ve worked with. They have a strong entrepreneurial spirit and are very supportive. Square1 bank is a newer bank with a fresh approach and are entrepreneurs at heart. I didn’t want to announce the funding earlier because I.m not a big fan of talking about what we’re “going to do”, I prefer to talk about what we “have done”.
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(from Frank’s blog: www.FounderBlog.com)Things have been a little crazy (good crazy) since last Monday’s funding announcement. I wasn’t prepared for all the activity that followed. We had thousands of visitors hit our website in the Rubicon Project. I want to give you some insight into the thoughts behind the decisions we’re making as we move forward.
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As we get ready to let website owners into the BETA program, I am excited to get feedback from the BETA users and their thoughts on how the system will get them more dollars for their traffic. Some may even think the system can change the way they are monetizing their existing and unsold ad space. In theory site owners should be making more money and doing less work. More money and less work sounds like a great formula!
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