Merged ad tech companies presented their new name and brand identity
American ad tech companies Rubicon Project and Telaria that merged in April, now have a new identity and name — Magnite, AdWeek reports. The company has also changed the name of its stock ticker — from RUBI to MGNI.
According to the CEO and president of Magnite Michael Barrett, retaining either of the two legacy brands was not an option from the beginning.
Barrett believes the only brand will help assimilate the teams better, and the new name mirrors the brand mission.
“Magnite is a concocted word… but it touches on a couple of things, as it brought in that element of permanence as it seems stone-like, like it’s been there forever,” — he told AdWeek.
Around 600 people now work together in the company — externally and internally. The staff was consolidated in April, however, they were supposed to unite under the new brand after the pandemic, AdExchanger reports.
The new brand identity was also intended to be unveiled at this year’s Cannes Lions Festival that had been canceled due to the pandemic (but it was still held online). However, the company decided not to wait until the end of the quarantine and revealed the news.
AdExchanger says large media clients are already working with the only Magnite sales team. Magnite talks to buyers about opportunities in both Telaria’s CTV footprint and Rubicon’s desktop and mobile one.
For now, the companies still divide programmatic pipes. That’s because Magnite and Telaria had different publishers before. However, Barrett says this will also come to one common ground.