The global pandemic made PubMatic CEO Rajeev Goel think long term.
The ad exchange – with a balance sheet strong enough to enable long-term decisions – has added 10% to its headcount while many of its peers made cuts.
“I have a view – I don’t know that it’s shared by most people – that the internet opportunity will double in the next two years.”
People are embracing telehealth, buying cars online and having them delivered by dealers and working and going to school from home. More business is moving online, and people have more free time to spend online.
PubMatic saw CPMs bottom out in early April and make “steady progress” upward every week since, but Goel still believes ad tech will further consolidate, as challenges around transparency and supply-path optimization continue.
Beyond the pandemic, Goel embraces another form of transparency. The company publicly shares its diversity and inclusion data in a yearly report and conducts pay analysis to ensure that everyone is paid equally.
At a time when many companies are thinking of how they can create more equitable workforces and reduce discrimination in the wake of the killing of George Floyd, Goel is taking an additional step to overhaul its procurement processes to include more Black and minority-owned businesses.
The company spends millions each year on everything from server equipment to marketing swag, Goel said. “If we can spend [that money] in a more intelligent way, that’s a very sustainable approach that will last the test of time.”
Written by Sarah Sluis, originally published in AdExchanger