The Trade Desk Sees Major Surge With IPO, Up Nearly 60 Percent

Ventura-based The Trade Desk, saw a huge pop in the markets this morning, with its stock trading up nearly 60 percent, at $28.66 per share--significantly above the $18.00 per share the company priced at late last night. The Trade Desk--which is now trading as TTD on the NASDAQ Global Market--operates an online advertising market and exchange. The company was trading around $28.66 right around noon ET. The company had already bumped its estimated initial IPO pricing yesterday. The Trade Desk is venture backed by IA Ventures, Founder Collective, Wellington Management, and Highwind, and is a major win for the City of Ventura, which has not been known in the past for its technology startups. The IPO of The Trade Desk follows a significant number of exits along the Central Coast, including such successful exits as the sale of to LinkedIn for $1.5 billion; IPOs at MindBody, Appfolio, and CytomX Therapeutics; plus $100M exits for AnsibleWorks and Aurrion.