Posted in: Business

AdBrite Shutting Down Ad Exchange On February 1

AdBrite Closes

Ad exchange adBrite has announced plans to shut down its services starting on February 1. All 26 of the company’s employees will lose their jobs as the ad exchange closes its doors.

During an interview with AllThingsD in 2012, CEO Hardeep Bindra said he joined the platform in order to sell off its services. Several weeks ago, the sale of adBrite fell through, forcing Bindra to close the platforms doors.

Here is the email adBrite sent to publishers and advertisers:

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

The adBrite ad network started operations in 2002 and became an ad exchange in 2008.

AdBrite was helped along by $40 million in funding from Sequoia Capital and other investors.

No other details regarding the company’s financials have been revealed at this time.

In other news, AdBrite competitor AppNexus recently announced raising $75 million in series D funding.

Are you surprised by the sudden closure of adBrite?

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Comments

5 Responses to “AdBrite Shutting Down Ad Exchange On February 1”

  1. Naeem Afzal

    Definitely I am surprised! They're the worst company. I just worked with them in October 2012. They told that I'll be paid in January 2013. Now They are shutting it down on first Feb 2013, Received their email last evening. They still have not paid me and my account status shows that my payment will become mature on 1st feburary 2013. :/ And I am sure, They are not going to pay that too. Why people do so?

  2. Qadabra

    Hey Naeem,
    I hope you receive your payments before the shut down this Friday. What other platform are you using or planning to use now in light of the AdBrite situation? You should check out our platform, Qadabra (www.qadabra.com)
    We'd be happy to help in any way possible; we've been receiving emails non-stop today from hundreds of publishers asking for advice and a quick solution for their site.
    Good luck!

  3. Naeem Afzal

    Thanks, I am already using Qadabra, But eCPM is very low! this is my second month with Qadabra and never went on more than 5$ a day with 100k+views daily!

  4. Qadabra

    Hi Naeem! Great to hear that you joined us! No worries, we will work on increasing your eCPMs right away. Have you tried contacting our support team at support@qadabra.com? They will help you optimize your traffic and increase your profits in no time. Remember that the more impressions you send, the faster we will get to know your traffic and optimize more effectively. Please contact our support, they will be more than happy to help!
    Cheers and we're happy to have you on board!