GOOGL
Alphabet
$4.11Tn
338.46
-1.17%
+46.74%
Alphabet generates the majority of its revenue from advertising on Google Search, YouTube, and the Google Network. It provides the technology infrastructure for performance and brand ads served to users worldwide.
AMZN
2nd
Amazon Com
$2.79Tn
258.51
-0.15%
+9.69%
The company generates income from advertising services on its sites and apps, providing technology for advertisers to reach its audiences.
UBER
2nd
Uber Technologies
$154.57Bn
75.77
-0.25%
-18.47%
The company generates revenue from advertising sales to brands and merchants, including sponsored placements within the Uber and Uber Eats applications.
PDD
2nd
PDD Holdings
$117.02Bn
82.21
+0.71%
-33.63%
The company generates a significant revenue stream from online marketing services, charging merchants for sponsored product placements, display advertisements, and performance-based models like cost-per-click.
SPOT
2nd
Spotify Technology
$111.63Bn
542.32
-3.17%
-22.23%
The company sells display, audio, and video advertising impressions to brands, agencies, and automated exchanges to monetize its Ad Supported segment.
APP
AppLovin
$107.48Bn
320.56
+2.23%
-34.22%
AppLovin builds the technology infrastructure for buying and selling digital advertising, specifically through its Axon Ads Manager and automated auctions. Its revenue model is based on campaign performance and return on advertising spend for advertisers seeking to reach global audiences.
MELI
2nd
Mercadolibre
$100.30Bn
1,978.36
-0.64%
-16.63%
Mercado Ads generates revenue by offering product, brand, display, and video advertisements to sellers and brands leveraging first-party data.
DASH
2nd
DoorDash
$91.73Bn
211.73
-4.63%
-14.91%
DoorDash earns income from advertising services that allow merchants and consumer packaged goods brands to increase their exposure on the platform.
NTES
2nd
NetEase
$76.16Bn
119.29
+1.91%
-11.53%
NetEase provides advertising solutions and online marketing services, including performance-based advertising and global promotion for brand advertisers.
TGT
2nd
Target
$74.70Bn
164.43
+0.27%
+77.36%
Target operates the Roundel division, which provides advertising services to brands, generating revenue from the technology and infrastructure used to serve these ads.
EBAY
2nd
Ebay
$46.02Bn
103.41
-2.31%
+14.70%
The company generates a distinct stream of advertising revenue by charging sellers fees to promote their listings on the marketplace platforms and through third-party advertising placements.
TTWO
2nd
Take Two Interactive Software
$40.15Bn
214.69
+0.26%
-10.12%
The company earns revenue from advertising within its games, specifically mentioned in the context of Zynga's free-to-play mobile games.
KR
2nd
Kroger
$35.88Bn
58.57
+0.10%
-13.66%
Kroger operates a retail media unit that sells advertising solutions and data analytics services to external parties based on its loyalty program data.
EXPE
2nd
Expedia
$34.12Bn
298.04
-1.68%
+37.65%
Through its trivago segment, the company generates advertising revenue by operating a metasearch site that provides referrals to other online travel companies and service providers.
RBLX
2nd
Roblox
$30.91Bn
43.28
+4.34%
-67.57%
Roblox earns revenue from advertising sales, allowing brands and creators to purchase ads to promote experiences or items within the platform to reach its global audience.
ROKU
2nd
Roku
$23.09Bn
155.59
-1.72%
+58.01%
The company generates significant revenue from digital advertising, providing advertisers with tools to run targeted campaigns via in-stream video ads, display ads, and sponsored content.
U
2nd
Unity Software
$18.33Bn
41.65
-1.05%
+6.52%
The 'Grow Solutions' segment consists of advertising products, including the Unity Ad Network, mediation platforms, and offerwalls, which provide the technology infrastructure for customers to monetize their user base through digital advertising.
CART
2nd
Maplebear
$11.90Bn
51.07
-1.26%
+14.97%
Maplebear runs an advertising business, Instacart Ads, where consumer packaged goods brands pay for sponsored product ads, display ads, and coupons to reach shoppers.
PINS
2nd
Pinterest
$11.54Bn
20.41
-2.11%
-45.02%
The company generates its primary revenue through an auction-based advertising system, selling various ad formats like CPM, CPC, and CPA to marketers across diverse sectors.
KLAR
2nd
Klarna
$10.16Bn
14.40
+0.00%
-68.57%
The company has a dedicated 'Advertising Solutions' segment that sells sponsored search, affiliate programs, and brand ads to merchants using proprietary consumer interaction data.
SIRI
2nd
Sirius Xm Holdings
$9.77Bn
28.99
-2.62%
+22.94%
Through its AdsWizz subsidiary, the company offers digital audio advertising technology and related solutions for the buying and selling of audio ads.
ZETA
2nd
Zeta Global Holdings
$7.10Bn
31.33
-4.16%
+67.72%
The company generates revenue from a demand side platform (DSP), which is a core piece of the technology infrastructure used for programmatic digital advertising buying and targeting.
TTD
Trade Desk
$6.78Bn
14.43
-4.37%
-73.16%
Trade Desk operates a demand-side platform (DSP) that provides the technology infrastructure for buying, targeting, and measuring digital advertising. Its revenue is primarily derived from platform fees based on a percentage of client spend by advertising agencies and brands.
LYFT
2nd
Lyft
$6.33Bn
16.72
-3.24%
-1.18%
The company generates revenue from advertising services sold to brands seeking exposure within the Lyft app.
M
2nd
Macy's
$6.07Bn
23.06
+2.58%
+41.65%
The company operates Macy's Media Network, a retail media business that sells advertising technology and space to brand partners to advertise on its platforms.
RUM
2nd
Rum
$5.09Bn
8.60
-4.87%
+19.11%
Rumble operates the Rumble Advertising Center, a self-serve advertising marketplace that connects advertisers with publisher inventory for display, video, and sponsorship campaigns.
JOYY
2nd
Joyy
$3.95Bn
75.00
+0.55%
+25.27%
The company operates BIGO Ads, an AI-powered programmatic advertising platform that uses real-time bidding and smart bidding models to monetize first-party and third-party inventory, contributing 20.8% of total revenue.
GENI
2nd
Genius Sports
$3.80Bn
7.49
-1.83%
-42.65%
The company provides advertising campaign management and broadcast inventory activation for brands and agencies, using its FanHub platform and consumer insights to deliver targeted campaigns to sports audiences.
DAO
2nd
Youdao
$3.62Bn
14.81
-4.70%
+77.37%
The company operates an online marketing business providing performance-based and global marketing services, generating revenue through cost-per-click and fixed-fee advertising campaigns.
MGNI
Magnite
$3.46Bn
24.14
-1.99%
-1.63%
Magnite operates a sell-side advertising platform (SSP) and programmatic CTV marketplace that provides the technology infrastructure for buying and selling digital advertising inventory. Its revenue is derived from fees tied to advertising spend, CPMs per impression, and platform fees for facilitating automated transactions between publishers and advertisers.
CARG
2nd
CarGurus
$2.55Bn
33.74
-1.43%
-4.64%
The company generates a distinct revenue stream from advertising fees paid by auto manufacturers and other brand advertisers to promote their vehicles on the platform.
ATHM
2nd
Autohome
$2.55Bn
22.00
+1.90%
-24.16%
The company provides targeted advertising solutions and brand promotion for 96 automakers through its 'Media Services' segment, utilizing a cost-per-day advertising revenue model.
DV
DoubleVerify Holdings
$2.07Bn
13.36
+0.07%
-12.39%
DoubleVerify provides the technology infrastructure for measuring and verifying digital advertising, specifically focusing on fraud detection, brand suitability, and viewability. Its revenue model is based on a Measured Transaction Fee for each media transaction analyzed, which is a classic ad-tech infrastructure model.
FORTY
2nd
Formula Systems (1985)
$1.98Bn
129.00
+0.00%
-0.74%
The Zap Group subsidiary focuses on providing digital advertising solutions, social media services, and digital branding for travel businesses and large enterprises.
OPRA
2nd
Opera
$1.68Bn
18.78
+1.84%
+5.80%
The company operates a proprietary advertising platform, Opera Ads, which sells digital advertising to brands, agencies, and partners like AppLovin and Vungle.
APPS
Digital Turbine
$1.28Bn
10.71
-1.56%
+155.00%
Digital Turbine provides the technology infrastructure for buying and selling mobile advertising, including a Demand-Side Platform (DT DSP) and programmatic real-time bidding auctions. Its revenue is derived from programmatic advertising auctions and cost-per-install/acquisition models for brands and agencies.
FUBO
2nd
FuboTV
$1.22Bn
11.27
-2.84%
-74.69%
The company generates a material portion of its revenue by selling unskippable digital ad inventory to brands and using data analytics to deliver targeted advertising campaigns.
QNST
Quinstreet
$1.06Bn
18.73
-0.16%
+18.69%
Quinstreet builds and operates proprietary performance marketing technologies to sell qualified clicks, leads, and calls to clients. Its revenue model is based on per-action pricing for delivering measurable online marketing results, which aligns with the technology infrastructure for buying and selling digital advertising.
TBLA
Taboola.com
$972.14Mn
3.86
-0.26%
+14.54%
Taboola builds the technology infrastructure for buying and selling digital advertising, specifically a platform that matches personalized ad content to publisher sites in real time. Its revenue is generated through performance-based models like cost-per-click (CPC) and cost-per-mille (CPM) paid by advertisers.
MNTN
Mntn
$960.26Mn
12.94
-3.79%
-36.94%
MNTN provides the technology infrastructure for buying, targeting, and measuring digital advertising on Connected TV (CTV). Its platform includes proprietary tools for attribution, ROAS optimization, and audience matching (MNTN Matched), which are core functions of digital advertising technology.
DSP
Viant Technology
$907.77Mn
13.66
+1.64%
+36.06%
Viant Technology provides a cloud-based demand side platform (DSP) used for the programmatic purchase of digital advertising across CTV, mobile, and desktop. Its revenue is derived from a percentage of media spend and fixed cost per mille (CPM) fees, which is the classic revenue model for digital advertising technology infrastructure.
IBTA
Ibotta
$893.28Mn
38.37
+2.62%
+47.01%
Ibotta operates a digital promotion platform that sells performance-based advertising and fixed-price products like display ads and sponsored offers to CPG brands. Its core business is the technology infrastructure used to target, deliver, and measure the effectiveness of these digital advertisements via its own properties and third-party publisher partners.
CRTO
Criteo
$855.46Mn
17.62
-3.03%
-24.02%
Criteo provides the technology infrastructure for digital advertising, operating as both a Demand-Side Platform (DSP) for brands and a Supply-Side Platform (SSP) for publishers. It generates revenue through DSP and SSP fees, and sells advertising inventory on a cost-per-thousand impressions basis using real-time bidding exchanges.
PLTK
2nd
Playtika Holding
$839.08Mn
2.20
-1.79%
-40.86%
The company earns a portion of its income from digital advertising, specifically through rewarded videos and display ads integrated into its gaming titles.
GRPN
2nd
Groupon
$765.24Mn
18.87
+0.05%
-22.92%
The company derives a distinct revenue stream from promotional services and advertising fees paid by merchants who seek greater exposure on the platform.
PUBM
PubMatic
$749.22Mn
16.50
-2.71%
+96.43%
PubMatic operates an integrated technology platform that connects buyers and publishers for the purpose of buying and selling digital advertising inventory. Its revenue is derived from fees charged for processing ad impressions and bids, and it provides specific ad-tech tools like OpenWrap (header bidding) and Intelligent Yield (auction efficiency).
EVC
Entravision Communications
$698.93Mn
8.43
+0.36%
+241.30%
The company's largest revenue contributor (61%) is the ATS segment, which operates Smadex, a proprietary programmatic demand-side platform (DSP) that automates media buying for mobile app developers worldwide. This matches the description of building the technology infrastructure for buying and targeting digital advertising.
MAX
MediaAlpha
$637.43Mn
12.03
-1.55%
+10.67%
MediaAlpha operates a programmatic marketplace for buying and selling consumer referrals (clicks, calls, and leads), which functions as the technology infrastructure for digital advertising and customer acquisition. The company earns revenue through fees for each referral delivered, utilizing real-time bidding and proprietary algorithms to match insurance carriers (buyers) with web traffic (sellers).
VTEX
2nd
Vtex
$624.51Mn
3.61
-0.28%
-9.75%
The company operates a 'Retail Media' segment through VTEX Ads, which provides the technology infrastructure for sellers to offer ad space, including AI-driven targeting and auction mechanisms for sponsored product placements.
NEXN
Nexxen International
$538.08Mn
9.56
-0.52%
-1.34%
Nexxen provides the technology infrastructure for buying and selling digital advertising through its Demand Side Platform (DSP) and Supply Side Platform (SSP). Its revenue is derived from platform fees based on a percentage of advertiser spend and CPMs, which matches the description of digital advertising technology pipes.
TRVG
2nd
Trivago
$422.05Mn
5.99
-6.41%
+80.97%
The company generates revenue through a performance-based advertising model, specifically using cost-per-click (CPC) and cost-per-acquisition (CPA) bidding systems. It provides sponsored placements and marketing tools to advertisers to optimize their visibility and conversion rates.
IHRT
2nd
iHeartMedia
$388.17Mn
2.81
-1.06%
+21.65%
iHeartMedia provides digital advertising technology platforms such as Unified, Voxnest, Triton Digital, and Omny Studios to manage digital impressions.
XNET
2nd
Xunlei
$383.42Mn
4.88
-0.41%
-33.33%
Xunlei generates revenue from online advertising services, including the advertising business of its subsidiary Hupu, which serves as a network for advertisers to place campaigns.
BMBL
2nd
Bumble
$382.40Mn
2.90
+1.05%
-55.11%
The company explicitly derives income from advertising partnerships and brand collaborations integrated into its platforms.
PERI
Perion Network
$363.32Mn
9.31
+0.87%
+0.32%
Perion provides the technology infrastructure for buying and selling digital advertising, specifically through its Perion One platform and Outmax AI agent. Its revenue is derived from providing execution infrastructure, real-time spend allocation, and optimization services for advertisers and agencies across CTV, DOOH, and social platforms.
FVRR
2nd
Fiverr International
$333.86Mn
9.25
+0.33%
-60.47%
The company generates a material portion of its revenue from 'Fiverr Ads,' which provides advertising technology and tools for sellers to promote their Gigs within the marketplace.
TTGT
2nd
TechTarget
$292.93Mn
4.05
+6.86%
-26.76%
TechTarget derives revenue from digital advertising offerings and provides AI-enabled buyer intent data and demand generation services to help vendors target specific prospects.
XPER
2nd
Xperi
$283.21Mn
5.81
-0.34%
-1.19%
The company operates a global cross-screen advertising solution and earns revenue from advertising sales on TiVo-owned properties and data licensing of viewer behavior for targeted advertising.
AZ
2nd
A2Z Cust2Mate Solutions
$269.91Mn
6.15
+2.67%
-29.31%
The company generates a growing revenue stream from retail media advertising on smart cart screens, utilizing CPM-based agreements with partners like Toys "R" Us Israel and Lego.
POWW
2nd
Outdoor Holding
$251.75Mn
2.17
+1.40%
+46.62%
The company offers advertising services and targeted advertising tools that promote seller inventory to users on the platform.
SSTK
2nd
Shutterstock
$211.27Mn
5.74
-0.35%
-72.71%
The company earns income from advertising services derived from its Giphy business, which provides contextual advertising within the GIF distribution network.
FIRY
2nd
Firy
$166.37Mn
10.11
+2.64%
+40.22%
The company operates the RZR segment, a performance marketing platform that uses machine learning to optimize user acquisition and retargeting for advertisers and app developers across mobile and connected TV.
WSHP
2nd
WeShop Holdings
$118.26Mn
5.04
-2.89%
—
The company generates a distinct revenue stream from advertising, selling sponsored placements and banner ads to brands and retailers seeking visibility within the user base.
GOAI
Eva Live
$112.65Mn
2.87
+8.30%
-28.25%
Eva Live operates in the demand side platform (DSP) market, providing the Eva Platform which uses AI to match advertising campaigns to ad spots and manage programmatic spending. Its core business involves building the technology pipes for buying and selling digital advertising, specifically focusing on XML traffic arbitrage and conversion mapping.
TSQ
2nd
Townsquare Media
$100.34Mn
5.64
-2.08%
-22.31%
Townsquare operates a proprietary programmatic advertising platform that uses first and third-party data for audience targeting across multiple digital channels, contributing $161.2 million in revenue.
FLNT
Fluent
$99.52Mn
3.15
+3.62%
+43.84%
Fluent builds and operates the technology infrastructure for digital advertising, specifically a commerce media solutions marketplace and proprietary ad-serving technology. Its revenue model is based on performance-based metrics such as per-click, per-lead, and impression-based fees for delivering targeted advertising to brands.
CHGG
2nd
Chegg
$94.28Mn
0.85
-13.27%
-49.10%
The company generates a portion of its academic revenue through advertising placed on its platform via partnerships with brands and programmatic networks.
MLGO
2nd
MicroAlgo
$93.98Mn
4.02
+0.00%
-52.71%
The company generates revenue from the internet advertisement business by delivering ad placements for advertising integration agencies, earning fees based on the effectiveness of these placements.
SCOR
Comscore
$78.50Mn
5.17
+5.08%
-19.84%
Comscore provides the technology infrastructure for measuring and verifying digital advertising, including campaign verification products and activation tools delivered via APIs. Its core business is providing the common standard for buyers and sellers to transact on advertising through audience measurement and reach/frequency metrics.
TEAD
Teads Holding
$49.03Mn
0.50
-5.66%
-69.33%
Teads operates a digital advertising platform that connects advertisers with media owners to deliver campaigns across web, connected TV, and app environments. Its revenue is generated through models such as cost per click (CPC) and cost per thousand impressions (CPM) as it facilitates advertising spend for brands like Apple and LVMH.
RLNDF
2nd
RoyaLand
$48.91Mn
3.50
+16.67%
—
RoyaLand intends to sell in-game advertising slots to brands and provide location-based advertising through its augmented reality companion application.
PHUN
2nd
Phunware
$42.53Mn
2.08
-0.48%
-15.79%
The company sells in-app advertising services to advertisers, charging based on impressions, clicks, or user actions, which constitutes a distinct revenue stream from its software subscriptions.
GMHS
2nd
Gamehaus Holdings
$41.23Mn
0.80
+1.27%
-59.39%
The company develops and uses proprietary technology platforms, such as the Creative System for advertising creative management and the Beiming System for user data analysis, to optimize user acquisition and marketing spend. Roughly 10% of its total revenue is derived from in-app advertising shown within its titles.
SST
System1
$38.60Mn
3.79
+2.99%
-46.69%
System1 provides a customer acquisition and marketing platform that matches real-time consumer intent with advertisers who bid to interact with those consumers. The company explicitly competes with demand-side platform (DSP) providers and offers APIs for clients to integrate custom features for their advertising spend.
SNAL
2nd
Snail
$22.37Mn
2.53
-6.30%
+184.85%
The company operates NOIZ, a micro influencer platform that connects brands with content creators to run marketing campaigns, which serves as a distinct revenue stream.
WIMI
2nd
WiMi Hologram Cloud
$22.25Mn
1.21
-4.72%
-69.05%
The company operates a holographic AR advertising segment where it sells ad spaces via APIs to advertisers and agencies, specifically automating the embedding of 3D objects into streaming videos.
CDLX
Cardlytics
$19.73Mn
3.62
-0.55%
-59.33%
Cardlytics operates a commerce media platform where it charges marketers fees for advertising campaigns and targeted loyalty marketing. Its core business is providing the technology infrastructure (the Cardlytics and Bridg platforms) to target buyers and measure the impact of spending using purchase data.
HODO
2nd
House of Doge
$17.83Mn
0.21
-12.50%
-98.52%
A substantial portion of revenue is generated through B2B arrangements where corporate sponsors like McDonald's and Coca-Cola pay for brand visibility, product placement, and marketing services delivered via its digital properties.
KDOZF
Kidoz
$14.44Mn
0.11
+22.22%
-26.67%
Kidoz operates a proprietary Safe Ad Network and the Prado exchange, generating revenue primarily through the sale of advertising impressions using CPM, CPC, and CPI models. Its core business is providing the technology infrastructure for advertisers and agencies to target and buy digital ads for children and families.
INUV
Inuvo
$9.50Mn
0.64
-1.54%
-80.95%
Inuvo provides the technology infrastructure for digital advertising, specifically an AI-driven intelligence layer for audience discovery and targeting across CTV, Video, Audio, Native, and Display channels. Its revenue is derived from technology licensing and performance-based arrangements tied to ad campaign outcomes for agencies, brands, and large advertising platforms.
KNRX
Knorex
$9.49Mn
0.37
+0.00%
—
Knorex provides the technology infrastructure for programmatic advertising through its XPO platform, which automates advertisement purchasing and optimizes campaign performance. Its revenue model includes a percentage of advertiser spend and platform fees, matching the description of a company building the pipes and tools through which digital advertising flows.
SLE
Super League Enterprise
$6.54Mn
3.92
+11.36%
-88.50%
Super League builds and operates a data and activation platform that utilizes behavioral and psychographic signals to drive marketing outcomes for brands. Its revenue is derived from the technology pipes of interactive ad formats, such as playable ads and rewarded video, and the distribution of these campaigns across gaming and social environments.
AMOD
2nd
Alpha Modus Holdings
$4.59Mn
2.17
-1.36%
-94.78%
The company licenses its intellectual property to advertising technology providers and digital media platforms to enable personalized marketing and dynamic digital engagement in retail settings.
BMTM
2nd
Bright Mountain Media
$1.87Mn
0.01
+0.00%
-66.67%
The company has an Advertising Technology segment that uses a proprietary technology stack to facilitate the real-time exchange of advertisements between demand-side and supply-side platforms.
TGNT
2nd
Totaligent
$1.73Mn
0.01
+0.00%
-66.67%
The company operates a white-label programmatic ad platform and connects to over forty network publishers to deliver micro-targeted display advertising, which constitutes the technology infrastructure for buying and selling digital ads.
DRCT
Direct Digital Holdings
$1.45Mn
1.96
-1.51%
-98.03%
The company operates the Colossus SSP, a proprietary programmatic supply-side platform that enables real-time bidding and monetization of advertising inventory for publishers. This fits the description of building the technology infrastructure (SSPs and ad servers) through which digital advertising flows.
TAOP
2nd
Taoping
$170.15K
0.80
+2.56%
-74.45%
The company operates a cloud-based new media sharing platform that delivers advertisements to display terminals and vehicular terminals, providing big data analysis to optimize advertisement placement.
TNMG
2nd
TNL Mediagene
$94.57K
0.44
-2.22%
-94.23%
The Technology Business supplies proprietary advertising networks and ad tech tools that enable data-driven advertising and retail media solutions for external corporate clients.
CLOW
2nd
Cloudweb
$0.00
0.00
—
-100.00%
The company intends to monetize its free hosting solutions by attracting advertisers and generating revenue based on impressions or clicks from users of those platforms.
EZOO
Ezagoo
$0.00
0.00
—
-100.00%
The company generates advertisement income from displaying ads on its Xindian mobile application, serving advertisers seeking to promote products to Chinese mobile users.
GMER
Good Gaming
$0.00
0.00
—
-100.00%
Good Gaming sells pre-install game placements to developers and publishers to drive user acquisition, which is a form of digital advertising and distribution technology. Its revenue model is based on fees or revenue sharing from these placements, acting as the technology pipe between developers and device users.
NNAX
2nd
New Momentum
$0.00
0.00
—
—
The company generates a distinct revenue stream by selling advertising space on its website and mobile application to airlines and hotels on a cost-per-impression or cost-per-click basis.
SOPAQ
2nd
Society Pass
$0.00
0.00
—
-100.00%
Through Thoughtful Media, the company builds and sells digital advertising campaigns, earning fees from brands for reach across its multi-channel network.