Equity Round Funds Early Investor Share Buyback, Powers Company's Long-Term Focus
LOS ANGELES, CA--(Marketwired - Mar 23, 2016) - The Trade Desk, Inc., a global demand-side platform, announced details today regarding a $60M round of equity funding with Wellington Management Company LLP, an investment management firm headquartered in Boston, Massachusetts, that closed in January of this year.
The round predominantly went toward funding the buyback of shares from early investors, and added cash to the company's balance sheet, which The Trade Desk intends to use towards long-term growth and to support the company's buyer clientele across the globe. "This round of funding is our biggest yet," said Jeff Green, CEO and founder of The Trade Desk. "We are honored to partner with Wellington Management, and we will continue to pioneer enhanced technology in the programmatic advertising industry as a true buyer's platform."
Angel investor, Charles Young, former Deputy Chairman of London's Canary Wharf business district and participant in the buyback, agreed, saying, "Credit to Jeff for not only creating a company to be massively proud of, but for girding an entirely new industry with his laser-like focus and grit. We are proud to say we were there at the beginning."
The Trade Desk has been recognized among America's fastest growing companies by Forbes Magazine, Inc. 500, and the Deloitte Technology Fast 500. The company also recently announced that Netflix CFO David Wells has joined its board of directors as an independent member. For more information about The Trade Desk, please visit http://www.thetradedesk.com/.
About The Trade Desk, Inc.
Recently named seventh on the Deloitte Technology Fast 500™, ninth in Forbes Magazine's Top 100 List of America's Most Promising Companies, and #34 on the Inc. 500, The Trade Desk powers highly sophisticated buyers in advertising technology. Founded by pioneers of real-time bidding, The Trade Desk has become one of the fastest growing demand-side platforms in the industry by offering agencies, aggregators and their advertisers leading-edge technology to manage omnichannel advertising campaigns.
Headquartered in Ventura, Calif., The Trade Desk has offices across the United States, Europe, and Asia.