Shares of Ventura-based The Trade Desk jumped 8 percent to $35.00 as the company announced the launch of a 5 million share offering by current investors.

At the company’s closing price on Feb. 21, the offering would have a gross value of around $165 million before a possible 10 percent overallotment, as disclosed in the prospectus. The company is not expected to net any cash from the offering.

Founder Jeff Green was expected to sell 1.7 million shares. He was expected to retain about 30 percent of the voting power of Trade Desk shares, largely through his holdings of Class B shares which have 10 votes for every Class A share. Selling institutional shareholders included IA Venture Strategies Fund (1.76 million shares) and Founders Collective (1.24 million shares).

The Trade Desk, which held the first technology IPO in the city of Ventura in decades, is an advertising platform that jumped from its IPO price of $18.00 to nearly $30 on its first day of trading. The Trade Desk reported Feb. 16 that revenue exceeded $200 million last year and net income jumped 29 percent to $20.5 million.

Citigroup was lead investment banker while Latham & Watkins’ Los Angeles office and Wilson Sonsini’s Palo Alto office were lead attorneys on the deal.

• Contact Henry Dubroff at hdubroff@pacbiztimes.com.