What is some surf technology?

What are some (preferably venture backed) ad-technology companies that a large company might be interested in acquiring or partnering with, primarily for (best in class) technology?

• For various reasons, when it comes to acquisitions, we are interested more in companies valued at <100MM or >1B. Technology should be the main reason for the valuation. Startups without VC funding are also fine if they have really good technology. Clarification : Technology refers to ad targeting technology (picking the optimal ad to show a user - both contextual and audience matching) more than ad infrastructure i.e. technology that would directly impact CPM/CPC.

• Answer:

  It'd be helpful if you clarified - what would you try to accomplish by acquiring? "Ad tech that helps pick the optimal ad" can be interpreted different ways. For dynamic creatives, you've got companies like Tumri "Picking the right ad" could mean contextual matching or audience matching, of which there are plenty. To acquire a VC backed startup for <$100M means you'll need to grab them before Series A financing or just after it. VC's don't like putting $10M into a company at a $50M post-money valuation just to have it sell for $60M a few months later...