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It seems like every week or so, we get to read another headline about a publisher launching a private exchange on someone’s real-time bidding (RTB) platform. Some would have you believe that private exchanges are a technological marvel; the greatest thing for publishers since the printing press. I want to take a moment to deconstruct this mythology a bit. But before I do, and to provide a point of reference (or maybe a full disclosure); the Rubicon Project has launched over 14 private exchanges (we call them “private marketplaces”) with premium publishers. Private marketplaces are a terrific new development for premium publishers in the digital display ecosystem, but let’s clarify what they really are and why they matter. Read more