Mediaocean, the advertising software company, has released a new platform this week to connect partners on its network between digital and traditional ad spend as it prepares for an initial public offering.
Analysts have said the launch of ‘Connect Partner Platform’ is showing potential investors that Mediaocean will be ready to go public next year, likely in the second quarter.
Speaking to Forbes on Wednesday, CEO Bill Wise said: “We are absolutely preparing ourselves for an IPO.
“We know what we are going to do and how we are going to do it, and we are two quarters away from planning the IPO.”
Wise also said that the company will not need to follow a formal process of selecting banks.
“My board, myself and our president [Nick Galassi] are talking to all people, so we don’t need a formal process,” Wise said. “This platform and a couple [of] other initiatives to come will position ourselves really nicely.”
Analysts also suggest that Mediaocean, which handles $130 billion of advertising industry spending each year, will hope it can succeed where the likes of Google have failed in simplifying the buying processes for television advertisements.
“Google wanted to create an auction-based approach to buy and sell TV, but since we already own all the traditional demand and work-flow, we don’t have to change the way TV buyers will buy,” Wise told Forbes.
The company already manages $72 billion of television spending and Wise said the market for video advertising could grow to $100 billion.
