{
  "docId": "019dd923-622c-750b-8b99-5eb652949ff2",
  "docSlug": "85d244dae869",
  "documentTitle": "DoubleVerify Holdings, Inc. (DV)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2023-05-02 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 31,
  "pageCount": 92,
  "prevPage": 30,
  "nextPage": 32,
  "slideType": "quote_slide",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 0,
  "notes": "Uses a callout box to connect the quote to a previous argument about product suitability.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "data_table",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b99-5eb652949ff2/31",
  "deckHref": "/decks/019dd923-622c-750b-8b99-5eb652949ff2",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b99-5eb652949ff2.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-5eb652949ff2#slide-31",
  "components": [
    {
      "bbox": {
        "h": 0.06,
        "w": 0.35,
        "x": 0.465,
        "y": 0.695
      },
      "kind": "callout",
      "text": "As we previously illustrated, DV's product is less suited for smaller clients.",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "aae3c726-4d3e-4adf-aa58-0167a6b38874",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.976,
        "x": 0.012,
        "y": 0.175
      },
      "kind": "paragraph",
      "text": "In August 2022, a Tegus research interview was conducted of a former executive at Integral Ad Science (IAS). When asked about market penetration for ad verification, the response was pointed.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "dd6bf793-21c2-4b41-9ab0-2433cb61d8fa",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "\"Yes. It's a very saturated marketplace. And that's why emerging markets were huge for both DV and IAS for a period of time. And that's also why they started looking at beyond just new products, but mid-market opportunities.\" — Former IAS Executive",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-14dc-7419-88c2-36c2873fc73b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.25,
        "x": 0.012,
        "y": 0.97
      },
      "kind": "source-note",
      "text": "Source: Tegus Research Interview",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e6e7228b-da2e-4f34-a2e7-6de17e5ddf2f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.976,
        "x": 0.012,
        "y": 0.28
      },
      "kind": "table",
      "text": "On The Topic of Ad Verification Penetration. Tegus Client: \"Do you think verification is fully penetrated then within the market?\" Former IAS Executive: \"Yes. It's a very saturated marketplace...\"",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0a350897-c97d-46b8-8013-c5330f1efc78",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.55,
        "x": 0.313,
        "y": 0.025
      },
      "kind": "title",
      "text": "Former Executive At IAS Also Agrees That Ad Verification Is \"Saturated\"",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "414974d1-90b4-4273-a37a-913258f54629",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "authority-citation",
      "slug": null,
      "matchId": "a1d17217-7cdf-4907-a3dd-68effa0070ea",
      "evidence": "Uses a former executive's quote to validate a market thesis.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 40,
      "from": 21,
      "beatId": "8f50cfcd-bec7-496d-85da-03dbbabfc8e6",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "Evidence",
      "beatSlug": "evidence",
      "evidence": "The document provides evidence to support its claims, including data on slowing growth and market saturation.",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}