PubMatic Impression growth has consistently grown sequentially over the past 2 years. Market share has expanded from 2% to 4% since IPO according to the most recent Q4 presentation. The Q4 revenue contraction YoY appears to be a result of demand driving the cost per thousand impressions (CPM) down OR rebates being offered to agency partners to drive demand onto their platform:
Would love to see TMF ask about this dynamic should we get a follow on interview opportunity with Rajeev @TMFMileHigh 
