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.”
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