OpenX, a Pasadena-based programmatic advertising technology company, announced $172 million in 2017 revenue in a March 13 report. The company has grown for 10 consecutive years and has been profitable for four straight, according to a company statement. In addition, OpenX invested $50 million into research and development this past year.
“Throughout the last several years we’ve seen an overarching trend where brands, publishers and consumers are increasingly prioritizing quality over everything else,” said Tim Cadogan, CEO of OpenX. “When we look back at our success as a company, our longstanding commitment to quality clearly stands as a differentiating factor.”
In addition to an emphasis on quality, OpenX credited its 20 percent revenue growth year-over-year to investments in mobile and video initiatives.
“In 2017, we fully transitioned to being a mobile-first company and we are quickly capturing a leadership position in video as well,” Cadogan said.
Specifically, mobile inventory surpassed desktop in the OpenX Exchange for the first time in 2017. The mobile business at OpenX grew 39 percent year-over-year with in-app revenue rising 89 percent, outpacing overall market growth by more than double. Video revenue for the company grew 5,000 percent in 2017.
In addition to success in mobile and video, OpenX reported 33 percent fourth quarter growth in the EU as well as becoming the biggest independent advertising exchange in Japan and second-largest overall.
Technology reporter Eli Horowitz can be reached at firstname.lastname@example.org. Follow him on Twitter @coachhorowitz13 for the latest in L.A. tech news.