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  "documentTitle": "DoubleVerify Holdings, Inc. (DV)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2023-05-02 00:00:00",
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  "notes": "Uses a table to list specific executives and their regional titles to prove the company tracks geographic performance internally.",
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      "text": "Third Listed Point For DV's Growth Strategy",
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      "text": "How are investors to assess DV’s international growth performance in a vacuum of material information relevant to this growth strategy?",
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      "text": "Expanding Our International Presence. We intend to continue to grow our presence in international markets in order to meet the needs of our existing customers and accelerate new customer acquisition in key geographies outside of North America. We expanded into ten countries during 2019 and 2018, which has accelerated our revenue growth in those markets.",
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      "text": "Expanding its international presence is a top growth strategy listed by DV in its offering prospectus. However, it claims that geographic reporting is not necessary because it does not utilize such information to make decisions about how to allocate resources. Really? We find that DV has made specific hiring decisions around geographic expansion and continues to give titles to individuals based upon their geographic location. How are investors to assess DV's international growth performance in a vacuum of material information relevant to this growth strategy?",
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