AppNexus Files for Initial Public Offering

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AppNexus CEO Brian O'Kelley.
AppNexus CEO Brian O'Kelley. Credit: Buck Ennis for Crain's New York Business

Ad-tech powerhouse AppNexus has quietly filed paperwork for its initial public offering, sources familiar with the deal have confirmed to Ad Age.

Investors in AppNexus include the agency giant WPP, Microsoft and News Corp.

AppNexus is filing for its IPO when many other ad-tech companies are floundering. Shares in The Trade Desk, however, are up nearly 50% since going public on the Nasdaq exchange in September.

The Wall Street Journal was first to report the news.

According to the Journal:

The company, which was valued at $1.8 billion in a 2015 funding round, could seek a valuation between $1.5 billion and $2 billion in the offering, though pricing talk is still fluid, the people said. AppNexus has tapped Goldman Sachs Group Inc. and J.P. Morgan Chase & Co. to serve as the lead underwriters on the offering, they added.

AppNexus recently made headlines by barring Breitbart News from using its ad-serving tools because the website, whose chairman is Donald Trump advisor Steve Bannon, violated its hate speech rules.

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