OpenX Tops $140M In Revenues

Los Angeles-based online advertising technology provider OpenX said late Monday evening that the company has reached $140M in revenues, which it says is a record. The privately held company--which has not previously reported its revenue number publicly--said it doubled its revenue and tripled its profits in the last two years. OpenX, which is led by Tim Cadogan, said that it saw 40% organic, year-over-year growth and added over 250 publishers during the year. The company also says it has been growing in terms of employees; the company said it had 110 net new hires in 2015, a 31 percent increase in its headcount. Privately held OpenX has long been rumored to be seeking an IPO; the new revenue announcement might suggest the company is now also looking towards private equity or strategic acquirers, as it is quite unusual for private companies to announced their financials publicly.