Wednesday, September 21, 2016
The Trade Desk Prices IPO, To Hit NASDAQ Today
Ventura-based The Trade Desk, which operates an online advertising exchange, priced its IPO late Tuesday evening, saying that it will sell 4,666,677 shares of its Class A common stock at $18.00 per share. The company will begin trading today on the NASDAQ Global Market as TTD. The Trade Desk priced at the high end of an already increased estimated IPO range, which had been upped to between $16.00 and $18.00 per share yesterday; the company had originally set an estimated IPO range of between $14.00 and $16.00 per share on August 31st. The Trade Desk was venture backed by IA Ventures, Founder Collective, Wellington Management, and Highwind, and is led by Jeff Green, and had been at the Venture Ventures Technology Incubator. Green is a serial entrepreneur, having sold his last firm, AdECN, to Microsoft.