This was an extraordinary quarter for TTD. Can they keep it up? I truly think they can.
Green is incredibly sharp and has attacked the market all while being profitable - really an incredible feat for a SaaS company. I’m careful betting on Green as I’ve put too much stock in leaders in the past. Yet, he seems like the real deal and for that reason it is roughly 7% of my portfolio even in an industry that has been beaten and battered. The walled gardens are the competitors with only CRTO doing anything profitable in the space. Yes, TTD does seem to have it figured out.
Their optionality is fantastic focusing on Asia, CTV and mobile. CTV grew at a “meager” 21 tines this quarter. Yes, I know. Small base and all. Growth anywhere near that will eradicate small bases.
A.J.