Tech advertising platform Rubicon Project Inc. priced its initial public offering Thursday at $17 a share, valuing the company at more than $450 million.

The Playa Vista company intends to offer 6.7 million shares to the public, setting aside an overallotment of another 1 million shares. Rubicon, considered one of the earlier automated ad exchange players, claims it reaches 97 percent of U.S. Internet users, and 600 million users worldwide. Competitors include AOL, Google and Microsoft.

Despite its wide reach, the company has had trouble reaching profitability according to its S-1 form. The company reported a net loss of $9.2 million in 2013. Revenue rose 47 percent to $84 million compared to the year earlier. Rubicon has raised $51 million in venture capital funding.

Frank Addante, Rubicon’s chief executive, is the largest individual shareholder of the company with 10 percent. Clearstone Ventures owns 21 percent, News Corp. owns 19.3 percent and Mayfield Fund owns 14.2 percent.

Rubicon is the first Los Angeles tech company to go public since Demand Media’s IPO in 2011. The stock will be listed on the New York Stock Exchange under ticker symbol RUBI.