However, word started to spread in early 2013 that Velti was struggling to pay its developers and, in May, the company laid off 200 employees, took a $111 million write-down during this year’s second quarter and sought a buyer for Mobclix as customers abandoned the business. In November, Velti announced it was shutting down Mobclix and that its other US operations were filing for Chapter 11.
Essence Decreases Its Investment In Third-Party Data Index Exchange Called Out For Tweaking Its Auction Cardlytics Says It Hopes To Expand Beyond Bank-Owned Media Inc. Mag’s Revenue Survey Indicates Slowing Growth In Ad Tech The Trade Desk Surges On Record Revenue – With No Sign of GDPR Slowdown Hacking Amazon: Agencies Create Workarounds For An Emerging Ad Giant Roku’s Platform Business Grew 96% In Q2 TransUnion Nabs MediaLink’s Matt Spiegel To Grow Its Digital Media Footprint Forget The Duopoly (For Now). It’s The Little Guys Taking Heat On GDPR»
Ultimately, the former Mobclix engineers are migrating from one embattled company to another. Since Mobclix’s heyday in 2010, during which it served 3.5 billion ad impressions per month with a $25 million to $30 million run rate, the company was acquired by London-based mobile marketing firm Velti (whose clients included many of the world’s biggest mobile operators such as Vodafone, Verizon and AT&T).
Add a comment