The Trade Desk, Inc. (TTD) experienced a downfall of 5.29% in the premarket. However, the last trading session closed at $81.06 with an increase of 1.89%.
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New Advertising Partnership with Xiaomi
On 20th October 2021, TTD reported that it has launched a first-of-its-kind worldwide collaboration with Xiaomi. This will allow the marketers to reach Xiaomi’s global audience directly through its mobile ad solutions. Because of the Trade Desk’s direct connection with Xiaomi, this is a market-leading development for businesses looking to maximize the open internet’s potential. Marketers can now reach 454 million monthly active users outside of China with this global collaboration and connect with them programmatically throughout Xiaomi’s unique mobile ecosystem.
Marketers are growing interested in measuring and comparing the success of marketing campaigns across digital channels such as connected TV (CTV), over-the-top (OTT), audio and video, the web, and mobile applications. Marketers can now track the effectiveness of their efforts inside the MIUI app family and compare it to other platforms on the internet for a more comprehensive approach to promotional campaigns.
Second Quarter 2021 Results
TTD announced second-quarter 2021 results on 9th August 2021. The COVID-19 epidemic has had a severe influence on advertiser demand, which has harmed TTD’s business. The company is experiencing a period of increased uncertainty in the business future. TTD anticipates that factors outside their control, such as changing economic conditions or increased shelter-in-place orders, will have an influence on the business performance. The company recorded revenue of $282 revenue and adjusted EBITDA of approximately $100 million.
The Company’s management thinks that this knowledge will guide investors to assess the Company’s operating trends, financial performance, and cash generation capacity. These non-GAAP measurements, according to management, enable investors to assess the Company’s overall condition using some of the same metrics that management uses. Lastly, non-GAAP financial metrics should not be considered a substitute for or superior to equivalent.
TD7 Launch
On 7th July 2021, TTD announced the launch of TD7. It is a new internal venture capital arm that has been established to invest in open internet technology entrepreneurs. TTD announced an investment in Chalice, a startup pioneering innovative ways to algorithmic ad buying, as part of this announcement. The Trade Desk’s purpose is around advancing the open internet. The company looks forward to investing in startups that share their goal of an open, transparent, and competitive internet.
The news coincides with the debut of The Trade Desk’s new trading platform, Solimar, which offers significant advancements in ad-buying for the open internet. Many of Solimar’s capabilities are also available through Application Programming Interfaces (APIs), which allow developers to build on the company’s inventions to create their own ad tech products. Last but not least, Chalice has established itself as an Open Internet ad tech innovation.
