The Trade Desk’s investment in Chalice is another example of the company positioning as a voice of the open internet against walled gardens. Chalice CEO Adam Heimlich is an outspoken antagonist of Google in particular. He pulled no punches in testimony to the Senate Judiciary Subcommittee on Antitrust, Competition Policy and Consumer Rights last September, when he called for Google to be forced to exit the ad exchange business if it won’t meet open standards.
Chalice initially pitched Green a few months ago regarding a potential personal investment in the startup, Heimlich told AdExchanger. Instead, his team heard back from TD7 – a reference to the $7 million seed investment that helped The Trade Desk achieve profitability – that The Trade Desk would close out the company’s round. Terms of the deal were not disclosed. Math Capital, a VC firm backed by ad tech execs linked to MediaMath, also joined the round.
“It’s a brave decision by TD7 and Math Capital to support us,” Heimlich said.
Heimlich said it shows how some companies are “committed to interoperability and openness” for the industry, rather than purely as an advantage for their businesses.
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