More good news for the internet economy, this time from the 3rd largest advertising network. Founded in 1998, Advertising.com raised more than $70 million in venture capital, and when the bubble burst had to lay off 30% of their staff. But they are back with a vengeance, and seeking $100 million from their upcoming IPO.
In their latest quarter, ended Dec 31, 2003, they had $41.9 million in revenue and $5.5 million in operating income. With this run rate of $168 million in revenue and $22 million in operating income, and a strong quarter over quarter growth rate, we\’ll likely see yet another billion dollar market cap.
Doubleclick has higher revenue at nearly $73 million for the same quarter, but with a slower growth rate and lower operating margins. It\’s market cap is more than $1.6 billion today.