AdBrite to Shut Down This Friday
Venerable ad exchange AdBrite sent an email yesterday to all of its publishers and advertisers stating that it would shutter its operations as of Friday, Feb. 1.
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The move came after a deal to sell the company reportedly fell through, according to a story published earlier today by AdBalance.
Based in San Francisco, AdBrite began life as Marketbanker.com in 2002, founded by Philip J. Kaplan and Gidon Wise. It was rebooted as an ad network under the AdBrite name in 2004, and then became an independent ad exchange in 2008.
At its height, AdBrite as an ad exchange reportedly rivaled Google and Yahoo, reaching more than 300 million global unique visitors (150 million in the U.S.) each month.
CEO Hardeep Bindra (pictured), who came to AdBrite from Yahoo’s Right Media, was quoted on All Things Digital as saying he was brought aboard last April to set the company up for sale, but talks toward that end fell apart earlier this month.
This will definitely cause a wave of change in the ad exchange industry.
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wow, no 3 months announcement before shutdown huh? I’ve been with adbrite for over 10 years and have a lot of money on my adbrite account and just like that they announced closing without an advance warning…..wow.