24/7 Wall St.

The Trade Desk Inc. (NASDAQ: TTD) has filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for a secondary offering. No pricing details were listed in the filing, but the offering is valued up to $200 million. This company has only been public since last September.

The underwriters for the offering are Citigroup, Jefferies, RBC Capital Markets, Needham and Raymond James.

The company described itself as follows:

Ad buyers are able to share their customized messages and ideas with the people and in the context they deliberately choose. … Our mission is to help our clients compete in the marketplace of ideas—the place in media and public discourse where ideas and messages compete in the open market for the mindshare of men and women around the world. … Our platform makes media monetization more effective. Instead of disrupting the foundation of media and advertising, we enable it. By offering compelling improvements in effectiveness, efficiency and reporting, we aim to change media and advertising globally.

This company has grown faster than the programmatic market and has achieved significant revenue scale with $1.0 billion in gross spend in 2016. Its revenue was $202.9 million in 2016, representing a growth rate of 78% over $113.8 million in 2015, while programmatic advertising spend in the industry grew to $19 billion in 2016, according to Magna Global, representing a growth rate of over 27% from 2015.

The Trade Desk will not receive any of the proceeds from this offering; instead the selling stockholders will.

In its initial public offering, the company priced its shares at $18 per share. However, shares actually entered the market at $28.75. Since then the stock has seen incredibly gains.

Shares of The Trade Desk closed Friday down 2.6% on the day at $50.07, with a consensus analyst price target of $56.00 and a post-IPO trading range of $22.00 to $54.50. The stock was down 1.6% at $49.26 in early indications Monday.