Los Angeles – Online advertising firm Rubicon Project
announced on Monday that it has raised $18 million in new venture capital
financing, and completed its acquisition of News Corp.’s (NYSE: NWS) Fox Audience Network
(FAN) ad technology platform.
Investors included News Corp., Clearstone Venture
Partners, IDG Ventures Asia, Mayfield Fund, NBC Universal’s Peacock Equity Fund
and Jarl Mohn.
As part of the acquisition deal, News Corp. will retain a
minority equity stake in the combined entity.
Los Angeles-based Rubicon said it
reached profitability in October 2010, and will generate more than $100 million
in revenue this year.