Feb 13 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
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