Adtech company PubMatic sues Google over monopoly violations

In a bold move, advertising exchange PubMatic has initiated a lawsuit against Google, alleging that the tech behemoth is unlawfully monopolizing the ad technology sector. The company is pursuing billions in damages, as reported by Bloomberg. This legal action marks a significant moment, being the second instance of an advertising exchange challenging Google since a federal judge determined in April that the company had indeed engaged in monopolistic practices concerning ad exchanges and servers. A subsequent trial is set for this month to decide whether Google should divest portions of its advertising business due to these violations. Rajeev Goel, CEO of PubMatic, emphasized that the lawsuit transcends financial compensation, aiming instead to foster a fair online advertising marketplace. "For years, it felt like we were stymied in our innovations by a barrier that was not rooted in our technology but in Google’s illegal monopoly," Goel stated to Bloomberg. "No matter how we adapted or innovated, Google found ways to rig the system against us." Competing directly with Google Ad Manager (formerly known as DoubleClick), PubMatic partners with various websites to facilitate advertising sales. Interestingly, during Google's antitrust proceedings last year, it was revealed that in 2011, Google considered acquiring PubMatic but ultimately opted for the ad technology firm AdMeld instead.