MediaMath shuts operations globally

MediaMath, an independent advertising technology company has shut its operations globally. Pranjali Desai, regional head India & SEA announced the development on LinkedIn.

The adtech company had filed for bankruptcy on Friday after it failed to negotiate terms with potential buyers. The company reportedly owes more than $100m to its many creditors. 

Employees and clients reportedly received updates on Friday morning from MediaMath explaining that the company would shut down its operations within the coming months. The company's clientele includes brands like PepsiCo, Adobe, Vivo and Sony.

The company was founded by Joe Zawadzki in 2007. Zawadzki quit the company in 2022. MediaMath started it's operations in India around six years ago. It powers the marketing practice of more than 3,500 brands across the globe.