| 2019-05-16 15:50:22|
RUBI, AMZN… 15:50 05/16 05/16/19
Rubicon Project falls after report Amazon near buying ad tech asset
Shares of advertising technology firm Rubicon Project (RUBI) are falling in late day trading after a Bloomberg report that said Amazon (AMZN) is near to buying the ad-serving technology of bankrupt company Sizmek. According to the report, Sizmek has been selling off businesses as part of bankruptcy proceedings it initiated in March. SIZMEK'S AD SERVER: According to the Bloomberg story, Sizmek's Ad Server "helps advertisers place spots around the internet and measure their effectiveness, competes directly with Google's (GOOG, GOOGL) Marketing Platform, formerly known as DoubleClick." RUBICON BUSINESS: Rubicon describes itself as a technology company automating the buying and selling of advertising. Rubicon Project says on its website that it allows premium publishers to solve the complexity and stay autonomous with "Prebid, the open-source standard for header bidding. Future proof for tomorrow's formats and tech." PRICE ACTION: Shares of Rubicon Project are down 4%to $6.13 per share, while Amazon and Google are up almost 1.8% and 1.3%, respectively.