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President-CEO Hiroshi Igarashi stated.
MediaMath seeks bankruptcy protection
MediaMath is filing for bankruptcy protection, an emergency proceeding that took place after it failed to successfully negotiate terms with potential buyers in recent weeks, Digiday has learned.
It’s a development that will have serious repercussions felt throughout the digital media landscape leaving hundreds out of work, and dozens of sell-side ad tech companies, mostly publishers, out of pocket, with tens of millions worth of debts.
Executives at supply-side platforms scurried for information as word filtered out that MediaMath’s financial backers failed to agree a deal with potentially interested acquirers late this week.
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MediaMath To File For Bankruptcy After Acquisition Talks Fall Apart
AdExchanger has learned that MediaMath, which raised $600 million since 2007 and had a peak valuation of more than $1 billion, will file for bankruptcy.
The post MediaMath To File For Bankruptcy After Acquisition Talks Fall Apart appeared first on AdExchanger.