Ad-tech company MediaMath succumbs to bankruptcy amid acquisition talks going awry

MediaMath, the demand side platform and an ad-tech company, had recently filed for Chapter 11 bankruptcy as its deal with potential buyers for acquisition fell through. It is believed that the DSP currently owes over $100 million to its various creditors. 

Earlier on Friday, while the employees and clients were reportedly informed that the ad tech company would be soon shutting down its operations globally, the platform was shut off the same day, leaving top advertisers such as PepsiCo, Adobe, Sony, etc. in a fix to run their campaigns. 

Pranjal Desai, Regional Head- India and SEA, MediaMath, took to LinkedIn to announce the shutting down of the platform. In her post, she mentioned having started the India country operations 6 years back, how she has been fortunate to be at the centre of the ride and for having witnessed MediaMath’s growth story from the driver's seat. 

“Today is a very sad day as MediaMath has decided to shut operations globally. Will miss all the super talented bunch of people that I have had the privilege to work with at MediaMath,” she mentioned.

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