Home Mobile Mobclix Co-Founder Krishna Subramanian Quits Velti

Mobclix Co-Founder Krishna Subramanian Quits Velti

SHARE:

Krishna-SubramanianKrishna Subramanian, the chief marketing officer of the mobile marketing agency Velti and co-founder of ad exchange Mobclix, which Velti acquired, has resigned from the troubled agency.

In an email, Subramanian writes, “As many of you already know I have moved on from Velti. I am grateful to have co-founded Mobclix and humbled by the part it has played in shaping the mobile advertising space. The roller-coaster ride through the acquisition & integration at Velti was an incredible learning experience and ultimately led me back to the search for that underlying spark that burns within to solve problems and do big things.” Subramanian hinted he has a new project in the works that is “keeping me up at night” which he promised to reveal soon.

Until recently, Velti was enjoying enormous growth with more than 1,000 employees around the world. The London-based firm raised roughly $150 million in a US IPO in 2011, and its clients included many of the world’s biggest mobile operators such as Vodafone, Orange, Verizon, AT&T, and China Mobile, as well as established brands and publishers.

However, word started to spread that Velti was having difficulties paying its developers, with some claiming that the company was months behind in its payments. In May, the company laid off 200 employees and took a $111 million writedown in this year’s second quarter. Velti has also been forced to sell Mobclix as customers continue to abandon the business.

Velti’s troubles could be a reflection of larger industry trends. Marketers are increasingly focused on omni-channel campaigns that work across devices versus mobile-specific campaigns. While companies like Facebook, Google and Twitter are reporting impressive gains in mobile advertising, their success is largely due to their ability to sell ad products across platforms.

In addition, companies that are taking their marketing efforts in-house or experimenting with automated real-time bidding exchanges further hurts companies like Velti. Velti attempted to automate its services by acquiring Mobclix, but it continued to lose money.

Must Read

Scott Spencer’s New Startup Wants To Help Users Monetize Their Online Advertising Data

What happens when an ad tech developer partners with a cybersecurity expert to start a new company? You end up with a consumer product that is both a privacy software service and a programmatic advertising ID.

Former FTC commissioner Alvaro Bedoya speaks to AdExchanger Managing Editor Allison Schiff at Programmatic IO NY 2025.

Advertisers Probably Shouldn’t Target Teens At All, Cautions Former FTC Commissioner

Alvaro Bedoya shared his qualms with digital advertising’s more controversial targeting tactics and how kids use gen AI and social media.

Wall Street Turned Against Ad Tech – But May Learn To Love It Again

What can pureplay ad tech companies do to clean up their rep on the Street?

Privacy! Commerce! Connected TV! Read all about it. Subscribe to AdExchanger Newsletters

AppsFlyer and Roku’s New SRN Integration Will Shed Light On CTV Campaign Impact

Roku and AppsFlyer announced the launch of a new self-reporting network (SRN) integration between both companies, which will allow mobile app advertisers to more effectively measure their streaming video campaigns

Comic: Gamechanger (Google lost the DOJ's search antitrust case)

DOJ v. Google: How Judge Brinkema Seems To Be Thinking After Week One

Where the DOJ v. Google ad tech antitrust trial stands after one week’s worth of remedies arguments.

Swish, A Company That's Bringing Programmatic to Product Sampling, Announces Seed Funding

Swish, a startup that partners with retailers to provide product full-size CPG samples to people doing their grocery shopping online, announces $2.3 million in seed funding.