Magnite

Magnite is the largest independent sell side advertising platform. While the trade desk represents buyers, Magnite represents sellers, the publishers and streaming services with inventory to monetize. The company runs real-time auctions where hundreds of advertisers bid simultaneously for each impression. The highest bidder wins. Magnite takes a percentage. The platform processes over 30 billion advertising requests daily. Revenue reached $570 million in 2023. Connected television was the fastest growing segment as streaming services like Hulu and Disney Plus added ad-supported tiers. Each new tier created inventory needing an automated auction. Magnite was already built for exactly that. The economics are pure transaction processing.