Black-owned advertising and marketing technology holding group Direct Digital Holdings began trading publicly on the NASDAQ on Friday under the ticker symbol “DRCT,” the company announced.
Direct Digital Holdings, which owns supply-side platform Colossus SSP, programmatic managed services provider Huddled Masses and digital advertising and demand generation agency Orange142, began trading after the bell closed at $5.50 per share.
According to a press release, Direct Digital Holdings expects to receive approximately $15,400,000 in gross proceeds as a result of the IPO, minus underwriting discounts and commissions.
Direct Digital Holdings is one of the few Black-owned companies in the advertising, marketing and technology space. The company, launched by CEO Mark Walker in 2018, brings together ad tech and managed services to clients and support small businesses, including other agencies, with programmatic and performance marketing.
The group also has a large focus on minority media investment and actively works to support underserved audiences, including African Americans, Latin Americans, Asian Americans and LGBTQ+ audiences.
Overall, Direct Digital Holdings manages 17,500 clients and its platforms drive more than 30 billion impressions per month across display, CTV, in-app, and other media channels, per the press release.
Clients include AT&T, Geico, JPMorganChase, Procter & Gamble, and T-Mobile, as well as agencies that represent both large and mid-sized businesses.
Digital Direct Holdings was not available for additional comment in time for publication.
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