California-based ad tech outfit The Trade Desk has outlined plans to go public on the NASDAQ, which if followed through would make it the first ad tech initial public offering (IPO) since 2015.
An S-1 filing with the US Securities and Exchange Commission was completed on Monday evening (22 August), and outlined the company's plans to raise $86.3m in the IPO.
The document has for the first time revealed the firm's earnings, noting that the demand-side platform (DSP) reported a revenue of $113.8 million, on gross billings of $530 million for 2015. Meanwhile, revenue for the first half of 2016 had grown by 83 per cent, generating $77.6m for the firm.
The Trade Desk also noted in the filing that its client base had expanded from 258 clients at the end of 2015 to the current figure of 389. The firm was recently awarded business from Spotify to automate its highly-coveted audio inventory.
If the IPO goes ahead as planned, it will be the first ad tech IPO since MaxPoint Interactive went public last march according to Business Insider. The Drum has reached out to The Trade Desk for comment on the filing.