On Monday, The Trade Desk, which is a digital advertising platform, announced that it has raised the terms of its proposed IPO deal.
The company now plans to raise $79 million by offering 4.67 million shares of Class A common stock in the price range of $16 to $18 per share. The Trade Desk had previously filed to offer 4.67 million shares but in a price range of $14 to $16. Selling shareholders are also selling up to 700,000 shares of Class A common stock.
The Trade Desk plans to list on the Nasdaq under the ticker symbol “TTD.” Citibank, Jeffries, RBC Capital Markets, Needham, and Raymond James are the joint underwriters for the deal. Its IPO is expected to close sometime this week.
The company was founded back in 2009, and is headquartered in Ventura, California. Along with being a technology platform for ad buyers, its mission is “to help our clients compete in the marketplace of ideas—the place in media and public discourse where ideas and messages compete in the open market for the mindshare of men and women around the world.”
The Trade Desk hopes to “change media and advertising globally” by offering agencies, aggregators, and their advertisers high-end technology in order to manage display, mobile, social, and video advertising campaigns.
It is also incredibly profitable, and is growing faster than the programmatic market it operates in. The Trade Desk reported $552.3 million in gross ad spending in 2015, and revenues of $113.8 million, reflecting growth of 156% in comparison to the $44.5 million reported in 2014.
In 2015, The Trade Desk reported net income of $15.9 million, soaring from only $5,000 in 2014, and generated $39.2 million of Adjusted EBITDA, a huge gain from $5.7 million in 2014. And in the second half of 2016, net income was $6.6 million ended June 20, 2016, up from the $5.7 million reported in the prior period in 2015.
Interested in IPOs? Check out the special edition of Zacks Friday Finish Line, where Editor Maddy Johnson and Content Writer Ryan McQueeney interview Kathleen Smith of Renaissance Capital about the IPO market in 2016.
Part One:
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The Trade Desk Increases Its IPO Price Range, Aims to Raise $79 Million
On Monday, The Trade Desk, which is a digital advertising platform, announced that it has raised the terms of its proposed IPO deal.
The company now plans to raise $79 million by offering 4.67 million shares of Class A common stock in the price range of $16 to $18 per share. The Trade Desk had previously filed to offer 4.67 million shares but in a price range of $14 to $16. Selling shareholders are also selling up to 700,000 shares of Class A common stock.
The Trade Desk plans to list on the Nasdaq under the ticker symbol “TTD.” Citibank, Jeffries, RBC Capital Markets, Needham, and Raymond James are the joint underwriters for the deal. Its IPO is expected to close sometime this week.
The company was founded back in 2009, and is headquartered in Ventura, California. Along with being a technology platform for ad buyers, its mission is “to help our clients compete in the marketplace of ideas—the place in media and public discourse where ideas and messages compete in the open market for the mindshare of men and women around the world.”
The Trade Desk hopes to “change media and advertising globally” by offering agencies, aggregators, and their advertisers high-end technology in order to manage display, mobile, social, and video advertising campaigns.
It is also incredibly profitable, and is growing faster than the programmatic market it operates in. The Trade Desk reported $552.3 million in gross ad spending in 2015, and revenues of $113.8 million, reflecting growth of 156% in comparison to the $44.5 million reported in 2014.
In 2015, The Trade Desk reported net income of $15.9 million, soaring from only $5,000 in 2014, and generated $39.2 million of Adjusted EBITDA, a huge gain from $5.7 million in 2014. And in the second half of 2016, net income was $6.6 million ended June 20, 2016, up from the $5.7 million reported in the prior period in 2015.
Interested in IPOs? Check out the special edition of Zacks Friday Finish Line, where Editor Maddy Johnson and Content Writer Ryan McQueeney interview Kathleen Smith of Renaissance Capital about the IPO market in 2016.
Part One:
Part Two:
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>