PubMatic Makes Strategic Investment in Engineering Team Expansion and AI Technology – World News Network

Date:

Share post:

NewsVoir
Pune (Maharashtra) [India], March 27: PubMatic (Nasdaq: PUBM), an independent technology company delivering digital advertising’s supply chain of the future, today announced a significant expansion of its engineering hiring plans in India to support growth following strong Q4 2023 and full year financial results.
The company plans to reinvest a portion of its 2023 profits in an expanded engineering team, with incremental headcount planned over the course of 2024; representing a 33% increase year over year vs. 2023 net new hires. With open positions in machine learning, Java, UI, data analytics, software development and hiring from prestigious campuses in India, including the IITs, PubMatic remains committed to recruiting top-tier talent.
PubMatic recently reported record revenue of $84.6M in Q4 2023, representing an increase of 14% YoY (vs. Q4 2022) and full year 2023 revenue of $267M. This substantial growth underscores the company’s ability to deliver value in an increasingly dynamic market and to invest in strategic initiatives to further solidify its position. The company also reported robust profitability and cash flow, continuing its long track record of financial strength.
A core contributor to these differentiated financial results is the company’s commitment to operational excellence. PubMatic is focused on enhancing the efficiency of its technology platform and operations; reducing total capex in 2023 by more than 70% over 2022 through infrastructure optimization initiatives, including:
* Capacity expansion: processed nearly 210.7 trillion impressions in 2023, an increase of 32% over 2022;
* Software-driven infrastructure efficiency: cost of revenue per million impressions processed decreased 8% on a trailing twelve-month period, as compared to the prior period;
* Increased software delivery: delivered 60% more software releases in 2023, compared to 2022 driven in part using generative AI across product development and engineering.
The company anticipates an additional 15-20% increase in engineering productivity in 2024 driven by the use of generative AI at multiple points in the software development and release process. These efficiencies, coupled with anticipated revenue growth and the company’s robust financial profile, are expected to further amplify the impact of the expanded engineering team.
“As one of the largest, independent sell side technology providers, sustained innovation has been core to PubMatic’s DNA since inception. The pioneering technology tackled by the engineering teams establishes it as the employer of choice for engineers throughout India,” said Mukul Kumar, Co-founder & President, Engineering at PubMatic. “We welcome exceptional individuals who share our vision to deliver cutting-edge solutions that address the evolving needs of the digital advertising ecosystem.”
Rajeev Goel, Co-founder and CEO at PubMatic further added, “We ended 2023 on an incredibly high note, marking an inflection point in revenue growth as we accelerated to 14% year-over-year growth and strong profitability in the fourth quarter. We believe we are at the early stages of a period of significant multi-year revenue growth.”
Demonstrating its commitment to a positive workplace culture and effective people practices, PubMatic India has earned certification as a Great Place to Work® for the seventh consecutive year, as recognized by the Great Place to Work® Institute.
Please visit the Careers Site to find out more about the open roles at PubMatic.
PubMatic (Nasdaq: PUBM) is an independent technology company maximizing customer value by delivering digital advertising’s supply chain of the future.
PubMatic’s sell-side platform empowers the world’s leading digital content creators across the open internet to control access to their inventory and increase monetization by enabling marketers to drive return on investment and reach addressable audiences across ad formats and devices. Since 2006, our infrastructure-driven approach has allowed for the efficient processing and utilization of data in real time. By delivering scalable and flexible programmatic innovation, we improve outcomes for our customers while championing a vibrant and transparent digital advertising supply chain.
(ADVERTORIAL DISCLAIMER: The above press release has been provided by NewsVoir. ANI will not be responsible in any way for the content of the same)


Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News


Paris Appreciation Awards

Read More

World Polls

Read More

Short News

Read More

Indian Bureaucrats

Read More

World Talent Management

Read More

World Brand Ambassadors

Read More

Film Critics

Read More

Influencers

Read More

Video Press Release

Read More

podcasts Press Release

Read More

Social Media

Read More

Colleges Press Release

Read More

Business Press Release

Read More

Critics Press Release

Read More

Fashion Marketing Press Releases

Read More

Gaming Press Release

Read More

Finance Press Release Distribution

Read More

Creative Press Release

Read More

Animals Press Release

Read More

Tech News Press Release

Read More

Cryptomarket Press Release

Read More

Fitness News Press Release

Read More

Gadgets Press Release

Read More

Gardening Press Release

Read More

Stockmarket Press Release

Read More

Product Reviewers and Marketing

Read More

Crypto Press Release Distribution

Read More

Film Festivals Marketing

Read More

India Real Estate Marketing

Read More

Indian Medical Tourism

Read More

Travel Marketing Press Release

Read More

Health Marketing Press Release

Read More

Events Marketing Press Release

Read More

Restaurants Marketing Press Release

Read More

City Business Listing

Read More

World Import Export

Read More

PR Franchise

Read More

Radio Press Release Distribution

Read More

Movies Distribution

Read More

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img

Related articles

India’s travel and tourism sector poised for growth: Projected revenue to reach USD 23.72 bn by 2024 – World News Network

As per Invest India, India announced 100 per cent Foreign Direct Investment (FDI) in tourism-related ventures, including the development of hotels, resorts, and recreational facilities, in a move aimed at fostering growth and development in the tourism sector as of 2023.

Aranthangi’s Elshaddai School Students Achieve Record-breaking Feats and Set Elite World Records – World News Network

Chennai (Tamil Nadu) [India], April 15: Elshaddai Group of Institutions, Aranthangi, proudly presents the Elshaddai World Records Festival 2024, celebrating 4th year of academic excellence. Students showcased exceptional skills, recognized by prestigious record-keeping organizations which includes Elite World Records, Asian Records Academy, India Records Academy, and Tamilan Book of Record, providing inspiration for aspiring achievers. These achievements underscore the school's commitment to nurturing talent and fostering a culture of innovation and excellence.

India’s passenger EV market will hot up in next 3-4 years – World News Network

This EV surge in EV sales can be can be attributed to factors like, government incentive schemes like PLIs, infrastructure development like more EV charging points, increasing urban consumer interest, and government push to meet green target.

Election months typically see less capex utilisation: Bank of Baroda report – World News Network

A capital expenditure, or capex, is used to set up long-term physical or fixed assets.

Paris Appreciation Awards

Read More

World Polls

Read More

Short News

Read More

Indian Bureaucrats

Read More

World Talent Management

Read More

World Brand Ambassadors

Read More

Film Critics

Read More

Influencers

Read More

Video Press Release

Read More

podcasts Press Release

Read More

Social Media

Read More

Colleges Press Release

Read More

Business Press Release

Read More

Critics Press Release

Read More

Fashion Marketing Press Releases

Read More

Gaming Press Release

Read More

Finance Press Release Distribution

Read More

Creative Press Release

Read More

Animals Press Release

Read More

Tech News Press Release

Read More

Cryptomarket Press Release

Read More

Fitness News Press Release

Read More

Gadgets Press Release

Read More

Gardening Press Release

Read More

Stockmarket Press Release

Read More

Product Reviewers and Marketing

Read More

Crypto Press Release Distribution

Read More

Film Festivals Marketing

Read More

India Real Estate Marketing

Read More

Indian Medical Tourism

Read More

Travel Marketing Press Release

Read More

Health Marketing Press Release

Read More

Events Marketing Press Release

Read More

Restaurants Marketing Press Release

Read More

City Business Listing

Read More

World Import Export

Read More

PR Franchise

Read More

Radio Press Release Distribution

Read More

Movies Distribution

Read More