PubMatic's Ad Auction Engine™ is a competitive real-time ad auction marketplace. It monetizes impressions across multiple buying sources, and ensures that publishers always receive the highest value for their ads. Ads are bought and sold on an impression-by-impression basis with buyers dynamically adjusting their bids as market conditions change and based on real- time feedback on campaign effectiveness. In turn, publishers can dynamically adjust their sales conditions to meet market demand and fluctuating inventory volumes.