Dhirendra Tripathi
Investing.com – Trade Desk (NASDAQ:TTD) rose more than 5% Wednesday as the company launched Solimar, an online platform for buying advertisements.
Built on open internet, Solimar’s features including letting developers to build on the company’s innovations to create their own ad tech offerings.
The firm also announced the launch of an internal venture capital arm, TD7, to invest in technology innovators focused on the open internet. As part of this announcement, Trade Desk highlighted an initial investment in Chalice, a company working on new approaches to algorithmic ad buying.
The TD7 name is derived from the $7 million in venture capital it took Trade Desk to become profitable.
Trade Desk is a technology company targeting 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.