Direct Digital Holdings, celebrated a significant milestone as it secured the 108th position on the prestigious Deloitte Technology Fast 500, an annual ranking that highlights the 500 fastest-growing companies in the fields of technology, media, telecommunications, life sciences, fintech, and energy tech in North America. This recognition comes in the 29th year of the renowned list, underscoring Direct Digital Holdings’ prowess in the industry.
The company, operating through its subsidiaries Colossus Media, LLC (“Colossus SSP”), Huddled Masses LLC (“Huddled Masses”), and Orange142, LLC (“Orange142”), witnessed a remarkable surge in its stock following the announcement. The stock, which concluded trading at $4.04 on the preceding Friday, catapulted to $4.19 on Monday morning and currently stands at an impressive $5.14.
At the time of this publication, Direct Digital Holdings Inc stock (DRCT) has witnessed a surge.
Direct Digital Holdings Inc
Current Price: $5.14
Change : +1.10
Change (%): (27.30%)
Volume: 4.6M
Source: Tomorrow Events Market Data
Direct Digital Holdings exhibited exceptional growth of 1,325% during the measurement period, securing the 8th position in Deloitte’s Digital Content/Media/Entertainment division. This accomplishment placed the company in the top 20% of all entities on the Fast 500 list and an impressive #6 ranking in the state of Texas.
The company attributes its remarkable growth to its innovative and technology-driven approach to advertising solutions, capitalizing on current market dynamics. A significant contributing factor to this success was the release of its third-quarter earnings report on November 9, 2023. For the period ending September 30, 2023, Direct Digital Holdings reported a staggering sell-side advertising segment revenue of $51.6 million, marking a remarkable 174% growth compared to the $18.9 million recorded in the same period of 2022. Additionally, the buy-side advertising segment revenue experienced a notable 10% growth, reaching $7.9 million in comparison to the $7.1 million recorded in the third quarter of 2022.
Direct Digital Holdings’ subsidiaries, each with distinctive offerings, played a pivotal role in the company’s overall success. Colossus SSP, with its focus on connecting brands of all sizes with diverse and multicultural audiences, serves as a comprehensive media inventory hub. On the buy-side, Huddled Masses and Orange142 offer data-driven digital marketing solutions catering to businesses in the underserved SMB and middle market landscape. These two entities collaborate seamlessly with Colossus SSP, extending the benefits of its inclusive marketplace to SMB and middle market clients.
Mark D. Walker, Chairman, and Chief Executive Officer of Direct Digital Holdings expressed gratitude for the company’s inclusion on the esteemed Fast 500 list, thanking Deloitte for the recognition. Walker emphasized that this accolade serves as a testament to the robustness of their business model, technological capabilities, and highly diversified customer base. He reiterated the company’s unwavering commitment to delivering top-tier advertising solutions as they continue to witness an increase in the number of clients, average client size, and total impressions per month.
