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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 10, 2025
THE TRADE DESK, INC.
(Exact name of registrant as specified in its charter)
Nevada
001-37879
27-1887399
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
42 N. Chestnut Street
Ventura, California 93001
(Address of principal executive offices) (Zip Code)
(805) 585-3434
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) 
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) 
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol
Name of each exchange on which registered
Class A Common Stock, par value $0.000001 per share
TTD
The Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o


Item 2.02    Results of Operations and Financial Condition. 
On February 12, 2025, The Trade Desk, Inc. (the “Company”) issued a press release announcing its financial results for the quarter and year ended December 31, 2024. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information in this Current Report on Form 8-K and Exhibit 99.1 attached hereto is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 5.02    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 
(d)
On February 10, 2025, the Company’s Board of Directors (the “Board”) appointed Alexander Kayyal to the Board as a Class I director, effective February 14, 2025. Mr. Kayyal was appointed to a newly created vacancy on the Board resulting from an increase in the size of the Board from seven (7) directors to eight (8) directors.
As a result of his appointment to the Board, Mr. Kayyal will be entitled to participate in the Company’s non-employee director compensation program (the “Program”). Pursuant to the Program, Mr. Kayyal will be entitled to receive annual compensation of $50,000 for his service on the Board. Additionally, pursuant to the Program and under the Company’s 2016 Incentive Award Plan, as amended, Mr. Kayyal will be eligible to receive (i) an initial equity grant valued at $290,000, which he may elect to receive in the form of restricted stock, restricted stock units, stock options or a mix of one-half restricted stock or restricted stock units and one-half options, which will generally vest in substantially equal quarterly installments over the three-year period following the grant, and (ii) an annual equity grant of $275,000, prorated from the date of appointment to the Company’s next annual meeting of stockholders, which he may elect to receive in the form of restricted stock, restricted stock units, stock options or a mix of one-half restricted stock or restricted stock units and one-half options, which will vest in full on the date of the Company’s next annual meeting of stockholders. The Company will also enter into an indemnification agreement with Mr. Kayyal in substantially the same form entered into with the other directors of the Company.
There are no arrangements or understandings between Mr. Kayyal, on the one hand, and any other persons, on the other hand, pursuant to which Mr. Kayyal was selected as a director. Mr. Kayyal is not a party to any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. Mr. Kayyal has no family relationship with any director or executive officer of the Company. Mr. Kayyal has not been appointed to serve on any committee of the Board. A copy of the press release announcing Mr. Kayyal’s appointment is filed as Exhibit 99.2 to this Current Report on Form 8-K.

Item 8.01    Other Events. 
On February 12, 2025, the Company issued a press release announcing that, in January 2025, the Company’s board of directors authorized and approved an additional $564 million under its share repurchase program pursuant to which the Company may purchase its outstanding Class A Common Stock, par value $0.000001 per share (the “Class A Common Stock”), bringing the total amount for future repurchases to $1 billion. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K. The share repurchase program does not obligate the Company to acquire any particular amount of Class A Common Stock and may be modified, suspended or terminated at any time at the discretion of the Company’s board of directors.

Forward-Looking Statements
This Current Report on Form 8-K contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the Company’s amount, timing and sources of funding for the share repurchase program. Any forward-looking statements contained in this Current Report on Form 8-K are based upon the Company’s historical performance and its current plans, estimates and expectations, and are not a representation that such plans, estimates or expectations will be achieved. These forward-looking statements represent the Company’s expectations as of the date of this Current Report on Form 8-K, and involve risks, uncertainties and assumptions. The actual results may differ materially from those anticipated in the forward-looking statements as a result of numerous


factors, many of which are beyond the control of the Company, including changes in price and volume and the volatility of the Company’s Class A Common Stock, adverse developments affecting prices and trading of exchange-traded securities, including securities quoted on the Nasdaq Global Market, unexpected or otherwise unplanned or alternative requirements with respect to the capital investments of the Company and the risks and uncertainties disclosed in the Company’s reports filed from time to time with the Securities and Exchange Commission, including its most recent Form 10‑K and any subsequent filings on Forms 10-Q or 8-K, available at www.sec.gov. The Company does not intend to update any forward-looking statement contained in this Current Report on Form 8-K to reflect events or circumstances arising after the date hereof.
Item 9.01    Financial Statements and Exhibits.
(d)    The following exhibits are being filed herewith:
Exhibit No.
Description
99.1
99.2
104
Cover Page Interactive Data File (formatted as Inline XBRL).


SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
THE TRADE DESK, INC.

Date: February 12, 2025
By:
/s/ Laura Schenkein
Laura Schenkein
Chief Financial Officer
(Principal Financial and Accounting Officer)


Exhibit 99.1
The Trade Desk Reports Fourth Quarter and Fiscal Year 2024 Financial Results

The Trade Desk also announced an additional share repurchase authorization, bringing the total amount of authorized future repurchases to $1 billion of its Class A common stock.

LOS ANGELES--(BUSINESS WIRE)--February 12, 2025--The Trade Desk, Inc. (“The Trade Desk,” the “Company” or “we”) (NASDAQ: TTD), a provider of a global technology platform for buyers of advertising, today announced financial results for its fourth quarter and fiscal year ended December 31, 2024.

“The Trade Desk once again outpaced nearly every segment of digital advertising in 2024, delivering $2.4 billion of revenue – marking accelerated growth of 26% year over year – and a record $12 billion of spend on our platform. At the same time, we achieved significant profitability and cash flow. While we are proud of these accomplishments, we are disappointed that we fell short of our own expectations in the fourth quarter,” said Jeff Green, founder and CEO of The Trade Desk. “In December, we undertook a reorganization to accelerate opportunities across CTV, retail media, identity, supply chain optimization, and audio while forging ahead with innovations like Kokai and the Ventura Operating System. As more of the world’s leading advertisers shift to premium scalable channels in contrast to the limitations of user-generated content, the opportunity ahead is immense. In 2025 and beyond, we are uniquely positioned to help our clients take full advantage of data-driven advertising on the premium internet, helping them drive growth and brand loyalty for their businesses.”
Fourth Quarter and Full Year 2024 Financial Highlights:
The following table summarizes the Company’s unaudited consolidated financial results for the three and twelve months ended December 31, 2024 and 2023 ($ in millions, except per share amounts):
Three Months Ended
December 31,		Year Ended
December 31,
2024202320242023
GAAP Results
Revenue$741 $606 $2,445 $1,946 
Increase in revenue year over year22 %23 %26 %23 %
Net income$182 $97 $393 $179 
Net income margin
25 %16 %16 %9 %
GAAP diluted earnings per share$0.36 $0.19 $0.78 $0.36 
Non-GAAP Results
Adjusted EBITDA$350 $284 $1,011 $772 
Adjusted EBITDA margin47 %47 %41 %40 %
Non-GAAP net income$297 $207 $832 $628 
Non-GAAP diluted earnings per share$0.59 $0.41 $1.66 $1.26 
Fourth Quarter and 2024 Recent Business Highlights
•Continued Share Gains: 2024 gross spend of $12 billion.

•Strong Customer Retention: Customer retention remained over 95% during the year, as it has for the past eleven consecutive years.

•Continued Collaboration and Support for Unified ID 2.0: The Trade Desk is building support for Unified ID 2.0 (UID2), an industry-wide approach to identity that preserves the value of relevant advertising while putting user control and privacy at the forefront. UID2 is an upgrade and alternative to third-party cookies. Recent partnerships and pledges of integration and support include:
◦iHeartMedia announced its adoption of UID2 to empower its advertising partners with tools for effective targeting, precise measurement, and accurate attribution.


◦Leading supply-side platforms, including FreeWheel, Index Exchange, Magnite, and PubMatic have integrated European Unified ID (EUID) to enhance addressability across the open internet.

•“Ventura”, a Revolutionary Streaming TV Operating System (OS): Ventura represents a major advance in streaming TV operating systems as it solves key issues with prevailing market systems today, including frustrating user experiences, inefficient advertising supply chains and content conflicts-of-interest. The Trade Desk plans to partner with TV original equipment manufacturers (OEMs) and other distribution partners to deploy the Ventura OS.

•Agreement to Acquire Sincera: Sincera is a leading digital advertising data company that provides objective, actionable insights to the advertising ecosystem. Integration of Sincera’s tools with The Trade Desk platform will help advertisers gain a clearer perspective on what they are buying so they may better value those impressions. With this acquisition, The Trade Desk’s platform will also show publishers which data signals are most highly valued by advertisers. As previously announced, the acquisition is subject to customary closing conditions and is expected to close in the first quarter of 2025.
•Industry Recognition (2024):
◦Institutional Investor Awards - Most Honored Company, Best CEO, Best Company Board, Best IR Program, Best IR Professional, Best IR Team, Best Analyst Day
◦U.S. News & World Report - Best Company To Work For
◦Business Insider Rising Stars of Adtech
◦AdExchanger Top Women in Media & Ad Tech
◦MM+M 40 under 40
◦Retail TouchPoints 40 under 40
Financial Guidance:
First Quarter 2025 outlook summary:
•Revenue at least $575 million
•Adjusted EBITDA of approximately $145 million
The Company has not provided an outlook for GAAP net income or reconciliation of Adjusted EBITDA guidance to net income, the closest corresponding U.S. GAAP measure, because net income outlook is not available without unreasonable efforts on a forward-looking basis due to the variability and complexity with respect to the charges included in the calculation of this non-GAAP measure; in particular, the measures and effects of our stock-based compensation expense that are directly impacted by unpredictable fluctuations in our share price. The Company expects the variability of the above charges could have a significant and potentially unpredictable impact on our future U.S. GAAP financial results.
Use of Non-GAAP Financial Information
Included within this press release are the non-GAAP financial measures of Adjusted EBITDA, Adjusted EBITDA margin, Non-GAAP net income and Non-GAAP diluted earnings per share (“EPS”) that supplement the Consolidated Statements of Operations of the “Company” prepared under generally accepted accounting principles (“GAAP”). Adjusted EBITDA is net income before depreciation and amortization expense; stock-based compensation expense; interest income, net; and provision for income taxes. Adjusted EBITDA margin is Adjusted EBITDA divided by revenue, and Adjusted EBITDA margin’s closest corresponding U.S. GAAP measure is net income margin, which is GAAP net income divided by revenue. Non-GAAP net income excludes charges and the related income tax effects for stock-based compensation. Tax rates on the tax-deductible portions of the stock-based compensation expense approximating 25% to 30% have been used in the computation of non-GAAP net income and non-GAAP diluted EPS. Reconciliations of GAAP to non-GAAP amounts for the periods presented herein are provided in schedules accompanying this release and should be considered together with the Consolidated Statements of Operations. These non-GAAP measures are not meant as a substitute for GAAP, but are included solely for informational and comparative purposes. The Company’s management believes that this information can assist investors in evaluating the Company's operational trends, financial performance, and cash-generating capacity. Management believes these non-GAAP measures allow investors to evaluate the Company’s financial performance using some of the same measures as management. However, the non-GAAP financial measures should not be regarded as a replacement for or superior to corresponding, similarly captioned, GAAP measures and may be different from non-GAAP financial measures used by other companies.


Fourth Quarter and Fiscal Year 2024 Financial Results Webcast and Conference Call Details
•When: February 12, 2025 at 2:00 P.M. Pacific Time (5:00 P.M. Eastern Time).
•Webcast: A live webcast of the call can be accessed from the Investor Relations section of The Trade Desk’s website at http://investors.thetradedesk.com/. Following the call, a replay will be available on the Company’s website.
•Dial-in: To access the call via telephone in North America, please dial 888-506-0062. For callers outside the United States, please dial 1-973-528-0011. Participants should reference the conference call ID code “277752” after dialing in.
•Audio replay: An audio replay of the call will be available beginning about two hours after the call. To listen to the replay in the United States, please dial 877-481-4010 (replay code: 51930). Outside the United States, please dial 1-919-882-2331 (replay code: 51930). The audio replay will be available via telephone until February 19, 2025.
The Trade Desk, Inc. uses its Investor Relations website (http://investors.thetradedesk.com/), its X feed (@TheTradeDesk), LinkedIn page (https://www.linkedin.com/company/the-trade-desk/), Facebook page (https://www.facebook.com/TheTradeDesk/) and Jeff Green’s LinkedIn profile (https://www.linkedin.com/in/jefftgreen/) as a means of disclosing information about the Company and for complying with its disclosure obligations under Regulation FD. The information that is posted through these channels may be deemed material. Accordingly, investors should monitor these channels in addition to The Trade Desk’s press releases, SEC filings, public conference calls and webcasts.

Share Repurchase Program
The Company used approximately $57 million of cash to repurchase its Class A common stock in the fourth quarter of 2024. The Company used approximately $235 million of cash to repurchase its Class A common stock in the year ended December 31, 2024, at an average repurchase price of $93.97. As of December 31, 2024, the Company had approximately $464 million available and authorized for repurchases. In January 2025, the Company repurchased approximately $28 million of its Class A common stock.
The Company also announced that its board of directors approved an additional $564 million under its share repurchase program pursuant to which the Company may purchase its outstanding Class A Common Stock, bringing the total amount for future repurchases to $1 billion. This program does not obligate the Company to acquire any particular amount of Class A Common Stock, and may be modified, suspended or terminated at any time at the discretion of the Company’s board of directors.

About The Trade Desk
The Trade Desk™ is a technology company that empowers buyers of advertising. Through its self-service, cloud-based platform, ad buyers can create, manage, and optimize digital advertising campaigns across ad formats and devices. Integrations with major data, inventory, and publisher partners ensure maximum reach and decisioning capabilities, and enterprise APIs enable custom development on top of the platform. Headquartered in Ventura, CA, The Trade Desk has offices across North America, Europe and Asia Pacific. To learn more, visit thetradedesk.com or follow us on Facebook, X, LinkedIn and YouTube.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to expectations concerning matters that (a) are not historical facts, (b) predict or forecast future events or results, or (c) embody assumptions that may prove to have been inaccurate, including statements relating to industry and market trends, the Company’s growth and financial targets, such as revenue and Adjusted EBITDA and the amount, timing and sources of funding for the Company’s share repurchase program. When words such as “believe,” “expect,” “anticipate,” “will,” “outlook” or similar expressions are used, the Company is making forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it cannot give readers any assurance that such expectations will prove correct. These forward-looking statements involve risks, uncertainties and assumptions, including those related to the Company’s relatively limited operating history, which makes it difficult to evaluate the Company’s business and prospects, the market for programmatic advertising developing slower or differently than the Company’s expectations, the demands and expectations of clients and the ability to attract and retain clients. The actual results may differ materially from those anticipated in the forward-looking statements as a result of numerous factors, many of which are beyond the control of the Company. These are


disclosed in the Company’s reports filed from time to time with the Securities and Exchange Commission, including its most recent Form 10-K and any subsequent filings on Forms 10-Q or 8-K, available at www.sec.gov. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company does not intend to update any forward-looking statement contained in this press release to reflect events or circumstances arising after the date hereof.


THE TRADE DESK, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except per share amounts)
(Unaudited)
Three Months Ended
December 31,		Year Ended
December 31,
2024202320242023
Revenue$741,012 $605,797 $2,444,831 $1,946,120 
Operating expenses (1):
Platform operations135,267 100,695 472,012 365,598 
Sales and marketing150,629 126,793 546,517 447,970 
Technology and development127,893 102,004 463,319 411,794 
General and administrative131,914 131,867 535,816 520,278 
Total operating expenses545,703 461,359 2,017,664 1,745,640 
Income from operations195,309 144,438 427,167 200,480 
Total other income, net(26,290)(16,238)(80,135)(67,515)
Income before income taxes221,599 160,676 507,302 267,995 
Provision for income taxes39,370 63,353 114,226 89,055 
Net income$182,229 $97,323 $393,076 $178,940 
Earnings per share:
Basic$0.37 $0.20 $0.80 $0.37 
Diluted$0.36 $0.19 $0.78 $0.36 
Weighted-average shares outstanding:
Basic493,958 489,454 490,879 489,261 
Diluted506,843 499,682 501,924 500,182 
___________________________
(1) Includes stock-based compensation expense as follows:
THE TRADE DESK, INC.
STOCK-BASED COMPENSATION EXPENSE
(Amounts in thousands)
(Unaudited)
Three Months Ended
December 31,		Year Ended
December 31,
2024202320242023
Platform operations$8,866 $6,406 $29,310 $21,048 
Sales and marketing28,481 21,885 99,135 75,924 
Technology and development40,952 29,540 138,393 120,823 
General and administrative (1)
50,930 63,604 227,861 273,826 
Total$129,229 $121,435 $494,699 $491,621 
___________________________
(1) Includes stock-based compensation expense related to a long-term CEO performance grant of $27 million and $42 million for the three months ended December 31, 2024 and 2023, respectively, as well as $128 million and $198 million for the twelve months ended December 31, 2024 and 2023, respectively.


THE TRADE DESK, INC.
CONSOLIDATED BALANCE SHEETS
(Amounts in thousands)
(Unaudited)
As of December 31,
2024		As of December 31,
2023
ASSETS
Current assets:
Cash and cash equivalents$1,369,463 $895,129 
Short-term investments, net552,026 485,159 
Accounts receivable, net 3,330,343 2,870,313 
Prepaid expenses and other current assets84,626 63,353 
Total current assets5,336,458 4,313,954 
Property and equipment, net209,332 161,422 
Operating lease assets263,761 197,732 
Deferred income taxes230,214 154,849 
Other assets, non-current72,186 60,730 
Total assets$6,111,951 $4,888,687 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable$2,631,213 $2,317,318 
Accrued expenses and other current liabilities177,760 137,996 
Operating lease liabilities64,492 55,524 
Total current liabilities2,873,465 2,510,838 
Operating lease liabilities, non-current247,723 180,369 
Other liabilities, non-current41,618 33,261 
Total liabilities3,162,806 2,724,468 
Stockholders' equity:
Preferred stock— — 
Common stock— — 
Additional paid-in capital2,594,896 1,967,265 
Retained earnings354,249 196,954 
Total stockholders' equity2,949,145 2,164,219 
Total liabilities and stockholders' equity$6,111,951 $4,888,687 


THE TRADE DESK, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in thousands)
(Unaudited)
Year Ended December 31,
20242023
OPERATING ACTIVITIES:
Net income$393,076 $178,940 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization87,490 80,418 
Stock-based compensation494,699 491,621 
Deferred income taxes(76,903)(61,597)
Noncash lease expense57,403 48,955 
Provision for expected credit losses on accounts receivable853 2,960 
Other(7,881)(20,379)
Changes in operating assets and liabilities:
Accounts receivable(474,227)(554,012)
Prepaid expenses and other current and non-current assets(38,783)(26,815)
Accounts payable298,919 475,463 
Accrued expenses and other current and non-current liabilities46,564 35,681 
Operating lease liabilities(41,754)(52,913)
Net cash provided by operating activities739,456 598,322 
INVESTING ACTIVITIES:
Purchases of investments(679,539)(608,379)
Maturities of investments629,088 555,806 
Purchases of property and equipment(98,238)(46,790)
Capitalized software development costs(8,824)(8,230)
Net cash used in investing activities(157,513)(107,593)
FINANCING ACTIVITIES:
Repurchases of Class A common stock(234,784)(646,597)
Proceeds from exercise of stock options216,281 60,525 
Proceeds from employee stock purchase plan49,989 38,482 
Taxes paid related to net settlement of restricted stock awards(139,095)(78,516)
Net cash used in financing activities(107,609)(626,106)
Increase (decrease) in cash and cash equivalents474,334 (135,377)
Cash and cash equivalents—Beginning of year895,129 1,030,506 
Cash and cash equivalents—End of year$1,369,463 $895,129 


Non-GAAP Financial Metrics
(Amounts in thousands, except per share amounts)
(Unaudited)
The following tables show the Company’s non-GAAP financial metrics reconciled to the comparable GAAP financial metrics included in this release.
Three Months Ended
December 31,		Year Ended
December 31,
2024202320242023
Net income$182,229 $97,323 $393,076 $178,940 
Add back (deduct):
Depreciation and amortization expense24,112 20,529 87,490 80,418 
Stock-based compensation expense129,229 121,435 494,699 491,621 
Interest income, net(24,956)(18,952)(78,842)(68,508)
Provision for income taxes39,370 63,353 114,226 89,055 
Adjusted EBITDA$349,984 $283,688 $1,010,649 $771,526 
Three Months Ended
December 31,		Year Ended
December 31,
2024202320242023
GAAP net income$182,229 $97,323 $393,076 $178,940 
Add back (deduct):
Stock-based compensation expense129,229 121,435 494,699 491,621 
Adjustment for income taxes(14,733)(11,896)(55,472)(42,462)
Non-GAAP net income$296,725 $206,862 $832,303 $628,099 
GAAP diluted earnings per share$0.36 $0.19 $0.78 $0.36 
GAAP weighted-average shares outstanding—diluted506,843 499,682 501,924 500,182 
Non-GAAP diluted earnings per share$0.59 $0.41 $1.66 $1.26 
Non-GAAP weighted-average shares used in computing Non-GAAP earnings per share, diluted 506,843 499,682 501,924 500,182 


Contacts
Investors
Jake Graves
Senior Manager, Investor Relations
The Trade Desk
ir@thetradedesk.com

Media
Melinda Zurich
VP, Communications
The Trade Desk
melinda.zurich@thetradedesk.com


Exhibit 99.2

The Trade Desk Appoints Alex Kayyal to Board of Directors

VENTURA, Calif. - February 12, 2025 - Global advertising technology leader The Trade Desk (Nasdaq: TTD) today announced the appointment of Alex Kayyal to its board of directors.

Kayyal has extensive experience as an investor, operator, board member and advisor to groundbreaking technology companies. With a strong understanding of how cloud-based services and AI are reshaping the world, he brings valuable insights into scaling high-growth businesses that are transforming industries.

Kayyal’s relationship with The Trade Desk has spanned over a decade having been an early investor in the company. Kayyal currently serves as a partner at the venture capital firm Lightspeed Venture Partners. He was previously Senior Vice President at Salesforce, where he held various executive roles globally including Managing Partner of Salesforce Ventures. He established the firm's presence in Europe and played a key role in expanding their global investment footprint to over $5 billion in capital deployed. Previously, Kayyal also helped found HGP, a venture growth fund where he led the firm's initial investment in The Trade Desk.

Over the years, Kayyal has advised and invested in leading technology companies across 15 countries including Algolia, Atlan, Darwinbox, Fabric Health, Gong, Miro, monday.com, NewVoiceMedia (acquired by Vonage), Onfido (acquired by Entrust), Privitar (acquired by Informatica), SessionM (acquired by Mastercard), Snyk, Tennr and Zoomin Software (acquired by Salesforce).

“Alex’s early belief in The Trade Desk’s mission and his years of expertise in tech and global markets make him a valuable addition to our board,” said Jeff Green, Founder and CEO, The Trade Desk. “His keen eye for spotting global trends, driving innovation, and fostering growth gives him a unique perspective as we focus on scaling our success around the world. Having known Alex for many years, I look forward to further partnering with Alex to build long-term value for our clients and fuel the next phase of growth for The Trade Desk.”

“I’m deeply attracted to companies fueled by a strong sense of mission and a clear vision — those that have the power to reshape entire industries,” said Kayyal. “The Trade Desk has truly exemplified this, leading the way as a pioneer with its commitment to create a more open and transparent advertising ecosystem, with still so much growth and opportunity ahead. Jeff is a visionary founder and CEO, and I’m thrilled to once again support him and the leadership team as The Trade Desk continues to innovate and deliver immense value to the entire advertising industry.”

Kayyal began his career at Merrill Lynch, advising growth-stage companies on mergers, acquisitions, and IPOs. He holds a BA in Economics and International Relations from Boston University and an MBA from Harvard Business School.

About The Trade Desk
The Trade DeskTM is a technology company that empowers buyers of advertising. Through its self-service, cloud-based platform, ad buyers can create, manage, and optimize digital advertising campaigns across ad formats and devices. Integrations with major data, inventory, and publisher partners ensure maximum reach and decisioning capabilities, and enterprise APIs enable custom development on top of the platform. Headquartered in Ventura, CA, The Trade Desk has offices across North America, Europe, and Asia Pacific. To learn more, visit thetradedesk.com or follow us on Facebook, Twitter, LinkedIn and YouTube.

Media Contact
Melinda Zurich
The Trade Desk
melinda.zurich@thetradedesk.com

v3.25.0.1
Cover
Feb. 10, 2025
Cover [Abstract]  
Document Type 8-K
Document Period End Date Feb. 10, 2025
Entity Registrant Name TRADE DESK, INC.
Entity Incorporation, State or Country Code NV
Entity File Number 001-37879
Entity Tax Identification Number 27-1887399
Entity Address, Address Line One 42 N. Chestnut Street
Entity Address, City or Town Ventura
Entity Address, State or Province CA
Entity Address, Postal Zip Code 93001
City Area Code 805
Local Phone Number 585-3434
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Class A Common Stock, par value $0.000001 per share
Trading Symbol TTD
Security Exchange Name NASDAQ
Entity Emerging Growth Company false
Entity Central Index Key 0001671933
Amendment Flag false
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