Some interesting intel that other holders here might appreciate. I was talking to one of the Criteo guys this weekend and some interesting points came out…
They work a lot with Shopify and rate them as the best. They were also aware of TheTradeDesk but not as familiar.
Management were pretty narked about the Gotham city short attack (my sympathies). This made them review all their data and led them to some conclusions and some actions
Effectively - there were 2 parts/accusations of the attack:-
i) they were counting and masquerading fake clicks.
This they very easily debunked by looking at the data, looking at the sales and looking at their client activity.
ii) they were vulnerable to Apple’s Safari Ad blocking.
On that front firstly, Safari actually has quite a lower browser share than many realise and secondly they have work arounds which deal with 80% of Apple’s blocking.
They are still growing like mad.
They do have one emerging competitor in the re-targeting space what is growing like a weed - that is RTB House. They are a fast growing privately owned player out of Eastern Europe - Poland I think. Anyhow whilst they may have just arrived in Singapore, looking at the head to head comparison in terms of market share and performance they seem way behind Criteo.
Hope this helps for the holders out there.
Nice post. I have owned CRTO for a while and I have been meaning to ask this board about their thoughts on CRTO and TTD. They seem to be similar companies and both growing very well, CRTO is growing a little slower but are a much bigger company and thus I am not sure it is totally fair. They also are both not only go rowing earnings rapidly, but also are showing earnings which TTD are not yet showing.
I know Saul owned this a while ago and sold because he wasn’t comfortable with it. It seemed to me(from the outside) that he sold partly because the stock price wasn’t moving. The earnings growth has continued since and the growth to PE is actually pretty good and much better than it was a couple years ago… any thoughts here from those who own the TTD and a comparison with CRTO.
Long CRTO and have thought about buying TTD but have a tough time seeing a better value than CRTO, so I haven’t moved on TTD yet…
I was considering selling Criteo as 1) I was losing patience “fighting the trend” 2) I didn’t want the uncertainty and risk. I’m now more comfortable holding it for fundamental reasons but still don’t like the fact the market clearly isn’t behind Criteo the way it is TTD. I actually really like TTD and would have upped my investment but I missed the last leg up.
ps FWIW for those that are concerned about Criteo being from France, the discussion I had conveyed the message that they are internally considered American listed and American managed.