(Bloomberg) -- The Rubicon Project Inc., one of the largest independent advertising technology firms, said it has moved through a “short-term disruption” from Europe’s new digital-privacy law.
“We have seen spend stabilize across most of our demand partners and we are seeing solid monetization in Europe,” Tom Kershaw, Rubicon’s chief technology officer, said in an email. The company’s stock rose as much as 3.7 percent to $2.38 on the news on Tuesday.
Europe’s General Protection Data Regulation went into effect on Friday and now requires every company that serves ads or tracks people online to get express consent. That forced companies like Rubicon, which sells software for automated ad buying and selling, to police their ads marketplace to avoid large fines. During the first day, some ad tech companies reported that marketers in Europe shifted more ad dollars to Alphabet Inc.’s Google or stopped buying automated ads.
"As anticipated, we certainly saw some initial short-term disruption as buyers and sellers navigated the complexities of the supply chain," Kershaw said.
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