Dmitry Cherkasov

Dmitry Cherkasov is the founder and CEO of Hybrid Theory, a specialized AdTech consultancy focused on programmatic advertising strategy, supply chain economics, and M&A advisory. He is widely regarded as one of the more analytically rigorous voices in the programmatic ecosystem, known for translating complex market dynamics and financial structures into actionable strategic insight for companies, investors, and industry stakeholders navigating the rapidly evolving digital advertising landscape. Cherkasov built Hybrid Theory around a distinctive advisory model that combines deep technical understanding of programmatic infrastructure with financial and strategic analysis. His work spans market structure analysis, deal advisory for AdTech transactions, and strategic consulting for platforms operating across the programmatic supply chain. He has become a go-to resource for industry participants seeking clarity on the economics of SSPs, DSPs, and the intermediary layers that define modern programmatic advertising. As a thought leader, Cherkasov regularly publishes analysis on topics including supply path optimization, market consolidation trends, and the economic pressures reshaping AdTech platforms. His commentary is valued for its independence and depth, offering perspectives that go beyond surface-level industry narratives to examine the underlying financial and structural forces at play.

• Founded Hybrid Theory, establishing it as a respected independent AdTech consultancy focused on programmatic strategy and M&A
• Recognized as a thought leader in programmatic supply chain economics with a track record of published market analysis