Direct Digital Holdings, which provides an end-to-end programmatic advertising platform, filed on Monday with the SEC to raise up to $40 million in an initial public offering.
Formed in 2018 through its acquisitions of Huddled Masses and Colossus Media, Direct Digital Holdings is an end-to-end, full-service programmatic advertising platform focused on underserved and less efficient markets on both the buy- and sell-side of digital advertising. Targeting SMBs, the buy-side component of its business is comprised of Huddled Masses and Orange142 (acquired in 2020), which serves hundreds of clients with more than 4,000 campaigns annually by leveraging insights from leading demand side platforms (DSPs). Colossus Media is its proprietary sell-side programmatic platform, which served over 39,386 clients in September 2021.
The Houston, TX-based company was founded in 2018 and booked $32 million in revenue for the 12 months ended September 30, 2021. It plans to list on the Nasdaq under the symbol DRCT. Direct Digital Holdings filed confidentially on September 10, 2021. Stephens Inc. and The Benchmark Company are the joint bookrunners on the deal. No pricing terms were disclosed.
