HOUSTON,
Nov. 13,
2023 /PRNewswire/ -- Direct Digital Holdings, Inc.
(Nasdaq: DRCT) ("Direct Digital Holdings" or the "Company"), a
leading advertising and marketing technology platform operating
through its companies Colossus Media, LLC ("Colossus SSP"), Huddled
Masses LLC ("Huddled Masses") and Orange142, LLC ("Orange142"),
today announced the Company has placed 108th on the
Deloitte Technology Fast 500™, a ranking of the 500 fastest-growing
technology, media, telecommunications, life sciences, fintech and
energy tech companies in North
America, now in its 29th year. During the
measurement period, Direct Digital Holdings grew 1,325%, making it
the 8th ranked company in Deloitte's Digital Content /
Media / Entertainment division. The Company placed among the top
20% of all companies on the list and was ranked #6 in Texas.
"We are honored to be included on this
prestigious list of fellow industry-leading companies, and I would
personally like to thank Deloitte for recognizing our company,"
said Mark D. Walker, Chairman and
Chief Executive Officer of Direct Digital Holdings. "This
recognition is a testament to the strength and effectiveness of our
business model as well as our technological capabilities and highly
diversified customer base. We remain committed to providing
best-in-class advertising solutions to our partners as our number
of clients, average client-size and total impressions per month all
continue to increase."
The Company attributes its significant growth to
current market dynamics benefitting its technology-driven and
differentiated approach to advertising solutions. On November 9, 2023, the Company reported its third
quarter earnings ended September 30,
2023. Direct Digital Holdings' sell-side advertising segment
revenue grew to $51.6 million or 174%
growth over the $18.9 million of
sell-side revenue in the same period of 2022. The Company's
buy-side advertising segment revenue grew to $7.9 million or 10% growth over the $7.1 million of buy-side revenue in the same
period of 2022.
Direct Digital Holdings' subsidiaries bring
distinct offerings to the ecosystem, contributing to the Company's
advancement. Colossus SSP is focused on connecting brands of all
sizes with a full range of diverse and multicultural audiences, as
well as the general market, serving as a one-stop-shop for media
inventory needs. On the buy-side, with Huddled Masses and
Orange142, the Company provides data-driven digital marketing
solutions to businesses in the underserved SMB and middle market
landscape. Those two buy-side companies also work seamlessly with
Colossus SSP to bring the benefits of its inclusive marketplace and
approach to SMB and middle market clients – with significant
results.
"We are pleased that the recent strategic and
operational investments in our technology stack have resulted in
industry-leading growth across our sell-side advertising
platforms," said Anu Pillai, Direct Digital Holdings' Chief
Technology Officer. "As we also continue to capitalize on the shift
in media spend from traditional to digital, as well as the growing
media spend targeted at the middle market, the result has been
advertising solutions that are utilized by businesses across all
industries due to the strength of our technology stack and our
proven, differentiated approach. We are proud to collaborate with
fellow leaders in the industry such as Amazon Publisher Services,
FreeWheel's Beeswax and HPE GreenLake, and look forward to
continuing to offer the high-quality advertising solutions we have
become known and trusted to provide."
Statements from Deloitte
"Each year, I
look forward to reviewing the progress and innovations of our
Technology Fast 500 winners as these companies truly demonstrate
how important new ideas are to progressing our society and the
world, especially during difficult times," said Paul Silverglate, Vice Chair, Deloitte LLP and U.S. Technology Sector Leader.
"While software and services and life sciences continue to dominate
the top 10, I am encouraged to see other categories making their
mark. Congratulations to all the winners who show us how
creativity, hard work and perseverance can lead to success."
"As a growing company, it's always rewarding to
be recognized for the ongoing commitment it takes to navigate
obstacles, transform when necessary and ultimately create a
thriving business," said Christie
Simons, partner, Deloitte & Touche LLP and industry
leader for technology, media and telecommunications within
Deloitte's audit and assurance practice. "Over the nearly 30 years
we've been compiling the Technology Fast 500 we've seen new
categories emerge, growth rates explode, and certain regional
markets shine from the bright talent they attract. We are proud of
all the winners for achieving this well-deserved honor."
About Direct Digital Holdings
Direct
Digital Holdings (Nasdaq: DRCT), owner of operating companies
Colossus SSP, Huddled Masses, and Orange 142, brings
state-of-the-art sell- and buy-side advertising platforms together
under one umbrella company. Direct Digital Holdings' sell-side
platform, Colossus SSP, offers advertisers of all sizes extensive
reach within general market and multicultural media properties. The
Company's subsidiaries Huddled Masses and Orange142 deliver
significant ROI for middle market advertisers by providing
data-optimized programmatic solutions at scale for businesses in
sectors that range from energy to healthcare to travel to financial
services. Direct Digital Holdings' sell- and buy-side solutions
manage on average over 125,000 clients monthly, generating over 300
billion impressions per month across display, CTV, in-app and other
media channels.
About the 2023 Deloitte Technology Fast
500
Now in its 29th year, the Deloitte Technology Fast 500
provides a ranking of the fastest-growing technology, media,
telecommunications, life sciences, fintech, and energy tech
companies — both public and private — in North America. Technology Fast 500 award
winners are selected based on percentage fiscal year revenue growth
from 2019 to 2022.
In order to be eligible for Technology Fast 500
recognition, companies must own proprietary intellectual property
or technology that is sold to customers in products that contribute
to a majority of the company's operating revenues. Companies must
have base-year operating revenues of at least US$50,000, and current-year operating revenues of
at least US$5 million. Additionally,
companies must be in business for a minimum of four years and be
headquartered within North
America.
Contacts:
Investors:
Brett Milotte, ICR
Brett.Milotte@icrinc.com
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SOURCE Direct Digital Holdings