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Trade Desk Jumps as Google Delays Getting Rid of Cookies

Shares of Trade Desk and its fellow digital ad technology companies were up big as Alphabet's Google pushed off plans to stop serving third-party cookies.
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Shares of ad technology companies including Trade Desk  (TTD) - Get Report soared Thursday after Alphabet’s  (GOOGL) - Get Report Google said it won’t stop serving third-party cookies until late 2023.

Trade Desk recently traded at $77.05, up 17.8%, while among fellow adtech companies, Criteo  (CRTO) - Get Report was up 11.4% to $43.17 and SEMrush Holdings SEMR was up 18.9% to $24.02.

Companies use cookies to track Internet users and target ads to them. Google’s original timeline plan was to stop serving third-party cookies in early 2022. The extension to late 2023 will allow publishers, advertisers and regulators to work together with Google on new technology for targeted ads, the company said.

Google said it will work with industry players to ensure users' privacy and to protect businesses on the web.

Google had initially decided to get rid of cookies amid pressure from regulators, consumers and businesses.

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“While there’s considerable progress with this initiative, it’s become clear that more time is needed across the ecosystem to get this right,” Google said in a blog post.

“This [delay] will allow sufficient time for public discussion on the right solutions, continued engagement with regulators, and for publishers and the advertising industry to migrate their services,” the company wrote.

In other Google ad news, the European Union said Tuesday that it had begun an antitrust investigation of Google to determine whether it has broken EU competition rules.

Specifically, the European Commission is looking at whether Google “favors its own online display advertising technology services in the ad-tech supply chain, to the detriment of competing providers of advertising technology services, advertisers and online publishers.”

The EC is the EU’s executive branch.

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