{
  "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": 67,
  "pageCount": 92,
  "prevPage": 66,
  "nextPage": 68,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 6,
  "notes": "Uses a before-after comparison of CEO statements to expose a contradiction in business scale.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "comparison_table",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b99-5eb652949ff2/67",
  "deckHref": "/decks/019dd923-622c-750b-8b99-5eb652949ff2",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b99-5eb652949ff2.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-5eb652949ff2#slide-67",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Spruce Point unearthed an interview from 2018 where OpenSlate's CEO said it scanned 400 million YouTube videos a day, and that it expected $2 billion of ads would be filtered through its software for the year.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-14dc-7419-88c5-5c86033a7579",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.94,
        "x": 0.03,
        "y": 0.17
      },
      "kind": "paragraph",
      "text": "Spruce Point unearthed an interview from 2018 where OpenSlate's CEO said it scanned 400 million YouTube videos a day, and that it expected $2 billion of ads would be filtered through its software for the year.(1) Nearly four years later, and OpenSlate claimed it powered a cumulative total of just $3 billion in media spend and 1 million YouTube ads. The commentary doesn't indicate if it is 1 million daily or annual YouTube ads. However, even assuming it was daily, that would yield less than the 400 million previously cited in 2018. A WSJ article in April 2020 indicates problems between Google and OpenSlate over contract terms related to information sharing. Though they eventually came to contract terms, a quote from an ad industry executive said the fracas created fundamental questions how independent third-party verification services really worked on YouTube and cited consternation amongst advertisers and agencies.(2,3)",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5374ce63-5c58-4f96-957d-393b1b561a9d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "\"The company's software scans some 400 million YouTube videos a day, analyzing descriptions, views, likes, comments and shares. It then ranks each clip on a scale, deducting points for risque topics like politics, religion, sex and even twerking.\" — Mark Henry, OpenSlate Founder / Bloomberg Interview, May 4, 2018",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-14dc-7419-88c5-63f88b0fde6c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.07,
        "w": 0.7,
        "x": 0.03,
        "y": 0.91
      },
      "kind": "source-note",
      "text": "(1) \"The Startup That Polices YouTube for Twerk-Averse Advertisers\", May 4, 2018, Bloomberg\n(2) \"YouTube Spars With Auditor Over Transparency of Advertising Risks\", April 19, 2020, WSJ\n(3) \"OpenSlate Rejoins The YouTube Measurement Program Following Contract Deadlock\", July 7, 2020, AdExchanger",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e2405c3c-7449-4247-9711-f95ef1b0c4fc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.94,
        "x": 0.03,
        "y": 0.43
      },
      "kind": "table",
      "text": "CEO of OpenSlate Citing Business Metrics In 2018 vs. 2022",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7cf315e2-7ba3-43f5-a6d0-a306d790cba9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.65,
        "x": 0.31,
        "y": 0.03
      },
      "kind": "title",
      "text": "More Evidence That OpenSlate Was Failing To Realize Its Goals And Declining In Value",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "878e4c93-5b45-442f-a057-3dc14f0042aa",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "expose_contradiction",
      "slug": null,
      "matchId": "6d67e467-67f6-4fc8-8e2c-2c08b6e33cff",
      "evidence": "Contrasting 2018 CEO claims with 2022 performance data to undermine credibility.",
      "confidence": 1
    }
  ],
  "arcBeats": [
    {
      "to": 80,
      "from": 61,
      "beatId": "458ec719-f95d-4766-85bb-c8667c9b63c3",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The Struggle",
      "beatSlug": null,
      "evidence": "The document describes the struggle or challenges facing DoubleVerify, including revenue pressures and billing disputes.",
      "position": 4,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}