Rocket Fuel has filed plans to raise about $100 million in an upcoming market debut, Cromwell Schubarth, the senior technology reporter for the Silicon Valley Business Journal reported Monday.
The Redwood City company led by CEO George John uses predictive analytics and a complex formula involving thousands of factors, such as frequency of visits, weather, geography and time, to decide when and how much to bid to place a specific ad in front of a specific person when everything lines up.
"Most companies in our space are using humans to give a lot of specific instructions about what they want to buy," John told Schubarth.
In its IPO filing with the Securities and Exchange Commission, Rocket Fuel said it has more than doubled its customer base to 784 and its revenue to about $92.6 million in the first six months of 2013, compared to 2012. Its net loss for the period was about $12 million.