ashutariyal
Active Member
Ad exchange adBrite told partners today that it will be shutting down on Feb. 1. Sad to see one of the bigger advertising networks crumble.
Here’s the publisher version:
Dear adBrite Publisher,
Over the last few weeks, adBrite and its management have been evaluating the go-forward plan for the business. Given market conditions and certain financial liabilities, in working with our lenders, we have decided to cease operations on Feb 1, 2013.
This is a difficult decision for all of us at adBrite. However, after much deliberation this seems to be the best course of action despite the impact it will have on all the employees, clients and partners who helped build this business. There will be a team in place as needed to assist with winding down.
Thank you for being part of the adBrite community.
The adBrite Team
Here’s the advertiser version:
Dear adBrite Advertiser,
Over the last few weeks, adBrite and its management have been evaluating the go-forward plan for the business. Given market conditions and certain financial liabilities, in working with our lenders, we have decided to cease operations on Feb 1, 2013.
This is a difficult decision for all of us at adBrite. However, after much deliberation this seems to be the best course of action despite the impact it will have on all the employees, clients and partners who helped build this business. There will be a team in place as needed to assist with winding down your campaign, and final reporting and invoicing.
Thank you for being part of the adBrite community.
The adBrite Team
CEO Hardeep Bindra is telling partners that the company, which has 26 employees, will close by the end of the month, and is selling off its assets. In an interview, Bindra says he had been trying to sell off the entire company, but sales talks “unfortunately fell through a couple weeks ago.”
AdBrite raised a reported $40 million since 2004, much of it from Sequoia Capital. It was best known for many years as the creation of Philip Kaplan, who had achieved notoriety during the end of the Web 1.0 boom for his FuckedCompany site. For years the company described itself as the “largest independent ad exchange, rivaling Google and Yahoo.”
But that kind of designation doesn’t mean a whole lot right now, and the ad exchange market is dominated by a handful of large players (you can also add newcomer AppNexus to the mix, as well as Facebook’s newly hatched FBX). Bindra, who joined AdBrite last April after working on Yahoo’s ad exchange, says his marching orders at the time were to set the company up for a sale.
Here’s the publisher version:
Dear adBrite Publisher,
Over the last few weeks, adBrite and its management have been evaluating the go-forward plan for the business. Given market conditions and certain financial liabilities, in working with our lenders, we have decided to cease operations on Feb 1, 2013.
This is a difficult decision for all of us at adBrite. However, after much deliberation this seems to be the best course of action despite the impact it will have on all the employees, clients and partners who helped build this business. There will be a team in place as needed to assist with winding down.
Thank you for being part of the adBrite community.
The adBrite Team
Here’s the advertiser version:
Dear adBrite Advertiser,
Over the last few weeks, adBrite and its management have been evaluating the go-forward plan for the business. Given market conditions and certain financial liabilities, in working with our lenders, we have decided to cease operations on Feb 1, 2013.
This is a difficult decision for all of us at adBrite. However, after much deliberation this seems to be the best course of action despite the impact it will have on all the employees, clients and partners who helped build this business. There will be a team in place as needed to assist with winding down your campaign, and final reporting and invoicing.
Thank you for being part of the adBrite community.
The adBrite Team
CEO Hardeep Bindra is telling partners that the company, which has 26 employees, will close by the end of the month, and is selling off its assets. In an interview, Bindra says he had been trying to sell off the entire company, but sales talks “unfortunately fell through a couple weeks ago.”
AdBrite raised a reported $40 million since 2004, much of it from Sequoia Capital. It was best known for many years as the creation of Philip Kaplan, who had achieved notoriety during the end of the Web 1.0 boom for his FuckedCompany site. For years the company described itself as the “largest independent ad exchange, rivaling Google and Yahoo.”
But that kind of designation doesn’t mean a whole lot right now, and the ad exchange market is dominated by a handful of large players (you can also add newcomer AppNexus to the mix, as well as Facebook’s newly hatched FBX). Bindra, who joined AdBrite last April after working on Yahoo’s ad exchange, says his marching orders at the time were to set the company up for a sale.