Sept 19 Advertising technology company Rocket
Fuel Inc's initial public offering was priced at $29 per share,
the higher end of its proposed price range, an underwriter told
The company raised $116 million from the offering of about 4
million shares. All the shares in the IPO are being sold by
The Redwood City, California-based company uses artificial
intelligence and big data to help customers place their ads on
websites and mobile networks. It had 784 active customers, as of
The company reported a loss of $11.9 million on revenue of
$92.6 million for the first half of the year.
Rocket Fuel has raised over $76 million in funding from
investors, including Mohr Davidow Ventures, Northgate Capital
and Summit Partners.
Credit Suisse and Citigroup are the lead underwriters for
Rocket Fuel is expected to debut on Friday on the Nasdaq
under the symbol "FUEL."