Dec. 24 at 5:48 PM
$TTD Valuation: the number that gets my attention
Baseline reality (public markets)
Current market cap: ~
$18–19B
Forward revenue multiple: compressed vs historical norms
Growth intact, but sentiment impaired
Acquisition floor
To sell control, TTD would require:
Minimum 40–50% premium to unaffected price
Implied equity value:
$26–30B
$55-60 per share.
Below that, I would rather remain independent and take my chances.
Why
$WMT is justified to pay
$60:
Control premium for a strategic, irreplaceable asset
Walmart is not buying revenue—they are buying:
Platform credibility
Agency trust
10+ years of tech and workflow maturity
There is no alternative asset of similar quality at scale
This is not a “rescue”—it is a category-defining consolidation.