MediaMath Layoffs
June 2023
MediaMath announced a layoff affecting 0 employees (100% of its workforce) in June 2023. The company operates in the Marketing sector.
0
100%
Jun 30, 2023
About
MediaMath, a pioneering demand-side platform in the online advertising industry, is shutting down and filing for Chapter 11 bankruptcy after acquisition talks with Viant and Verve Group collapsed. The company, which once had a peak valuation over $1 billion, will cease platform access as of June 30, 2023. This closure results in layoffs for the majority of its more than 300 employees, with only a small team remaining to manage the bankruptcy proceedings. The financial downfall stems from years of missed acquisition opportunities and ongoing debt, including a $150 million credit facility from Goldman Sachs, despite raising over $600 million since its 2007 founding.
Related Events
More Marketing Layoffs
Report an Error
If you find incorrect information, please let us know so we can correct it.
support@layoffs.nl