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Public Comps and Valuation Multiples for AdTech Software

Benchmark revenue and EBITDA valuation multiples for public comps like
Alphabet, Meta, AppLovin, Baidu and theTradeDesk.

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AdTech Software

Viewing 50 of 94 companies with full data

Company	Market Cap	Enterprise Value	LTM Revenue	EV/LTM Revenue	EV/LTM EBITDA
Alphabet	$4.7T	$4.7T	$435B	10.7x	23.6x
Meta	$1.5T	$1.5T	$221B	7.0x	11.9x
AppLovin	$162B	$163B	$7B	25.0x	29.9x
Baidu	$47B	$44B	$19B	2.3x	12.7x
theTradeDesk	$10B	$9B	$3B	3.0x	7.3x
Amdocs	$7B	$8B	$5B	1.6x	6.5x
Zeta Global	$5B	$4B	$1B	3.0x	13.8x
CyberAgent	$4B	$3B	$6B	0.6x	6.3x
Easy Click Worldwide	$4B	$4B	$634M	5.7x	126.7x
Mobvista	$3B	$3B	$2B	1.2x	17.3x
LiveRamp	$2B	$2B	$823M	2.3x	10.1x
Affle 3i	$2B	$2B	$292M	6.6x	29.1x
Magnite	$2B	$2B	$699M	3.0x	8.6x
SEMrush	$2B	$2B	$444M	3.5x	—
Five9	$2B	$2B	$1B	1.5x	6.3x
Taboola	$1B	$1B	$2B	0.8x	6.7x
DoubleVerify	$1B	$1B	$775M	1.8x	5.3x
Vobile	$925M	$1B	$396M	2.6x	14.2x
Criteo	$866M	$652M	$1B	0.6x	1.7x
Ibotta	$773M	$634M	$343M	1.8x	11.3x
Septeni Holdings	$629M	$490M	$200M	2.5x	14.7x
MNTN	$596M	$565M	$314M	1.8x	7.1x
Digital Turbine	$545M	$867M	$565M	1.5x	7.3x
PubMatic	$459M	$356M	$287M	1.2x	5.9x
Nexxen	$456M	$391M	$367M	1.1x	3.3x
MediaAlpha	$452M	$589M	$1B	0.5x	4.9x
Sprout Social	$409M	$344M	$472M	0.7x	5.8x
Yext	$359M	$384M	$449M	0.9x	3.5x
Perion Network	$349M	$78M	$451M	0.2x	1.6x
TechTarget	$349M	$436M	$491M	0.9x	4.8x
Verve Group	$341M	$829M	$713M	1.2x	5.0x
Echo Marketing	$329M	$263M	—	—	—
Viant	$219M	$57M	$227M	0.2x	0.9x
AnyMind Group	$199M	$233M	$425M	0.5x	8.0x
Fan Communications	$178M	$95M	$46M	2.1x	—
i-mobile Co.	$174M	$54M	$146M	0.4x	—
Thryv	$168M	$418M	$723M	0.6x	3.2x
Cheetah Mobile	$151M	($70M)	$167M	(0.4x)	—
Azerion Group	$145M	$406M	—	—	—
Eva Live	$127M	$123M	—	—	—
Brave Bison Group	$126M	$123M	$54M	2.3x	11.2x
Team Internet	$121M	$121M	$273M	0.4x	2.8x
Easou	$120M	$91M	—	—	—
Teads Holding	$116M	$671M	$1B	0.5x	7.3x
UNITED	$116M	$22M	$56M	0.4x	—
comScore	$98M	$123M	$358M	0.3x	2.9x
MicroAd	$96M	$97M	$101M	1.0x	—
Cloud Technologies S.A.	$89M	$88M	—	—	—
KT Nasmedia	$84M	($7M)	$82M	(0.1x)	(0.4x)
Fluent	$83M	$103M	$209M	0.5x	(17.4x)
ad pepper media	$75M		$76M
Geniee	$73M		$87M
Adtraction Group	$69M		$134M
Adways	$67M		$79M
IZEA Worldwide	$66M		$31M
ValueCommerce	$65M		$130M
Investor.bg	$64M		—
Unerry	$58M		$31M
Adveritas	$57M		$8M
Agile Content	$56M		—
Revu Corporation	$54M		—
EQ Inc.	$49M		—
ViewBix	$49M		—
TradeDoubler	$42M		$249M
Cardlytics	$42M		$202M
Vertoz	$40M		—
Zoomd	$37M		$57M
Artist Co	$35M		—
All About	$32M		$98M
ISPD Network	$31M		$172M
Mobiquity Technologies	$29M		—
Yoc	$27M		$45M
Cliq Digital	$25M		—
Glad Cube	$24M		$11M
Genuine Marketing Group	$20M		—
Mobio Technologies	$12M		—
AdUX	$12M		$29M
Triboo	$11M		$63M
Digitree Group	$9M		—
Raketech Group Holding	$9M		$30M
visumo	$8M		$6M
Sabio Holdings	$8M		—
BrightBid Group	$7M		—
Silver Bullet Data	$6M		—
Adverty	$5M		—
Tourn International	$5M		—
Thinc Collective	$4M		—
Woodpecker.co	$4M		—
Direct Digital Holdings	$3M		$35M
Foothills	$2M		—
ImagineAR	$1M		—
Sociallite US	$810K		—
IZON Network	$370K		—
Vado Corp.	$201K		—