The Trade Desk has been down by roughly a third since reporting earnings last week. At one point, Tim said that Viant is open to opportunistic M&A to “help build our stack on more proprietary data.” That’s in contrast to The Trade Desk, which has made few acquisitions, and those mostly acqui-hires. “When it comes to The Trade Desk, I think their focus on third-party data is really hurting them,” Tim told investors. In a world like this, even The Trade Desk, now with a market cap of $6.25 billion, could be a target for opportunistic takeovers.