Online advertising marketplace Rubicon Project of Playa Vista posted its first annual profit of $400,000 last year.

The automated advertising buying and selling platform increased GAAP revenue 98 percent year-over-year to $249 million. Earnings per share for the company were 1 cent last year, compared to analyst estimates of negative 42.9 cents a share, according to Bloomberg.

Rubicon’s reputation as a one stop marketplace for advertising sellers and buyers is catching on in the advertising industry, said President Greg Raifman.

“Buyers are now able to use our platform to reach all (advertising) channels at scale, across mobile and display,” he said, adding that the company is working on expanding further. “Over time we will get into more formats like outdoor (billboards) and TV.”

The company has also found traction with customers by focusing on higher-valued advertising inventory, said Raifman.

Rubicon is projecting revenue of $315-$355 million this year. The company’s stock rose 18 percent Wednesday to close at $16.08 a share.

Technology reporter Garrett Reim can be reached at greim@labusinessjournal.com. Follow him on Twitter @garrettreim for the latest in L.A. tech news.

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