Shares in the Trade Desk fell after market leader Publicis Groupe stopped recommending the advertising technology platform to clients.
Multiple reports say the Trade Desk failed an audit on the platform’s fees and media spend.
Market Analysts cut ratings on the independent demand-side-platform allowing advertising agencies and brands to buy and manage advertising campaigns programmatically.
Shares in the Trade Desk, whose biggest competitors are the so-called walled gardens of Google and Amazon, fell 5% on top of a 7.4% drop the day before.
Publicis reportedly said "an experienced independent auditor concluded that Trade Desk did not pass the audit. As a result, we will no longer be recommending Trade Desk ... for our clients”.
The Trade Desk (TTD) told AdNews that any notion it failed an audit is not true.
“In this case, the request included asks for data that would violate customer and partner confidentiality agreements,” the company said.
“We look forward to working with Publicis to provide workable alternatives to this particular request, including information at an even more granular level than requested.
“TTD is the most transparent, scaled platform in the industry, and our reporting and billing processes are supported by an independent SOC 1 compliance, and we are committed to providing the highest level of industry transparency and strong controls in how we report and bill.
“When we provide contractual audit rights, we stand by those rights, based on customary accounting procedures, such as with big 4 accounting firms. In this case we have proposed a range of options to Publicis.
“We’ve enjoyed a long and successful working relationship with Publicis and hundreds of their clients. We look forward to building on this in the years ahead.”
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