The Trade Desk, which provides ad agencies with a real-time bidding platform for multi-channel online ads, announced terms for its IPO on Tuesday.
The Ventura, CA-based company plans to raise $70 million by offering 4.7 million shares at a price range of $14 to $16. At the midpoint of the proposed range, The Trade Desk would command a fully diluted market value of $641 million.
The Trade Desk was founded in 2009 and booked $149 million in sales for the 12 months ended June 30, 2016. It plans to list on the Nasdaq under the symbol TTD. Citi, Jefferies and RBC Capital Markets are the joint bookrunners on the deal. It is expected to price during the week of September 19, 2016.
