Ad technology firm Rocket Fuel selects IPO underwriters: sources
(Reuters) - Ad technology company Rocket Fuel has selected Credit Suisse and Citigroup to lead its planned public offering, according to two sources familiar with the matter.
An IPO could come later this year, the sources said, though precise timing and valuation have not been decided.
Rocket Fuel and Credit Suisse could not be reached for comment. Citigroup declined to comment on Wednesday.
The company more than doubled its revenue to $107 million last year, it told the Silicon Valley Business Journal in January.
Founded in 2008, Rocket Fuel helps customers place their ads on websites and mobile networks. Customers include Allstate Corp, BMW and Lufthansa.
The U.S. IPO market for technology companies has lagged in 2013, with no deals so far this year though mobile payments company Xoom is set to debut on Friday.
Other online advertising companies considering going public include New York-based Undertone and Paris-based Criteo.
Undertone and Criteo declined to comment on IPO plans.
Rocket Fuel has raised over $76 million in funding from investors including Mohr Davidow Ventures, Northgate Capital and Summit Partners.
(Reporting By Alistair Barr in San Francisco and Olivia Oran in New York; editing by Andrew Hay)
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