- Digital ad-buying company Trade Desk announced the launch of Solimar, a trading platform for ad buyers.
- "The vision that we have for the internet is to preserve the quid pro quo of the internet where you see relevant ads in exchange for free content," CEO Jeff Green said of the service in a "Mad Money" interview.
- Trade Desk also revealed that it has launched a new venture capital arm, TD7.
Trade Desk has launched a new ad-trading platform to limit the number of ads presented to consumers on free streaming services, CEO Jeff Green told CNBC Wednesday.
Earlier, the digital ad-buying platform announced Solimar, a way for marketers to optimize digital advertising campaigns on the internet.
Green, appearing on "Mad Money" for an interview with Jim Cramer, said the platform will use data to target audiences for marketers with the goal of ensuring that consumers will see no more than three ads during a commercial break on streaming services.
"The vision that we have for the internet is to preserve the quid pro quo of the internet where you see relevant ads in exchange for free content," he said. "If you can make those relevant and [leverage] data that is extremely sensitive to the consumer, then you can make it so that you are only showing two ads [or] three ads."
Trade Desk, a $39 billion outfit based in Ventura, California, on Wednesday also announced the launch of TD7, its venture capital division that plans to invest in technologies on the open internet. The venture arm made its first investment in Chalice, a company focused on algorithmic ad buying, according to a press release.
Trade Desk shares rose 1.41% in the session to close at $77.64. The stock remains down 3% year to date.