Facebook with Latestnigeriannews  Twieet with latestnigeriannews  RSS Page Feed
Home  |  All Headlines  |  Punch  |  Thisday  |  Daily Sun  |  Vanguard   |  Guardian  |  The Nation  |  Daily Times  |  Daily Trust  |  Daily Independent
World  |  Sports  |  Technology  |  Entertainment  |  Business  |  Politics  |  Tribune  |  Leadership  |  National Mirror  |  BusinessDay  |  More Channels...

Viewing Mode:

Archive:

  1.     Tool Tips    
  2.    Collapsible   
  3.    Collapsed     
Click to view all Entertainment headlines today

Click to view all Sports headlines today

Adtech company IgnitionOne lays off staff while facing an allegation of unpaid bills

Published by Business Insider on Fri, 15 Nov 2019


New York-based adtech firm IgnitionOne laid off staff on Wednesday and faces allegations of unpaid bills.IgnitionOne recently spun off its demand-side platform to martech firm Zeta Global to focus on its data and tech business.Progress Partners, an investment firm IgnitionOne hired to advise it on the deal, alleges thatIgnitionOne owes the firm more than $590,000 in damages.Click here for more BI Prime stories.IgnitionOne, which builds and sells programmatic advertising technology, laid off a handful of employees on Wednesday, sources close to the company said.The cuts, estimated to number fewer than 10, came two months after martech firm Zeta Global acquired IgnitionOne's demand-side platform that coordinates marketers' programmatic ad buys. Some of IgnitionOne's accounts from small to mid-size brands and fewer than 15 people from IgnitionOne joined Zeta Global as part of the deal, a Zeta Global spokesperson said.IgnitionOne confirmed that the layoffs affected fewer than 10 employees.IgnitionOne faces a breach of contract complaint from its former investment firmIgnitionOne also faces a civil complaint alleging breach of contract from Progress Partners, an investment firm it hired to advise it on a potential sale. A complaint filed in October in Massachusetts District Court alleges that IgnitionOne owes Progress Partners more than $590,000 in damages plus attorney's fees, interest and other costs, related to its work that led to the deal with Zeta Global in September.It's unclear if there is a connection between the complaint and the layoffs.Adtech consolidation continuesFifteen-year-old IgnitionOne is one of the oldest adtech firms and works with brands like Mazda and Motel 6, according to its website. The company sold marketers the DSP as well as a tech and data service that claims to help companies do things like personalize ads to people based on their search history.IgnitionOne was acquired by holding company Dentsu Aegis in 2010 and spun out as a standalone company in 2013. The company has raised $85.2 million and has about 250 employees, according to LinkedIn.Adtech companies struggle to pivot into new businesses, particularly DSP companies that specialize in media buying.Big firms like The Trade Desk and Google continue to make inroads with large advertisers while holding companies cut back on the number of adtech companies that they work with.As a result, smaller DSPs like IgnitionOne, OwnerIQ and Dataxu have become acquisition targets. Roku recently acquired Dataxu for $150 million, and OwnerIQ was acquired by tech and data services company Inmar.Join the conversation about this storyNOW WATCH: 5 things about the NFL that football fans may not know
Click here to read full news..

All Channels Nigerian Dailies: Punch  |  Vanguard   |  The Nation  |  Thisday  |  Daily Sun  |  Guardian  |  Daily Times  |  Daily Trust  |  Daily Independent  |   The Herald  |  Tribune  |  Leadership  |  National Mirror  |  BusinessDay  |  New Telegraph  |  Peoples Daily  |  Blueprint  |  Nigerian Pilot  |  Sahara Reporters  |  Premium Times  |  The Cable  |  PM News  |  APO Africa Newsroom

Categories Today: World  |  Sports  |  Technology  |  Entertainment  |  Business  |  Politics  |  Columns  |  All Headlines Today

Entertainment (Local): Linda Ikeji  |  Bella Naija  |  Tori  |  Pulse  |  The NET  |  DailyPost  |  Information Nigeria  |  Gistlover  |  Lailas Blog  |  Miss Petite  |  Olufamous  |  Stella Dimoko Korkus Blog  |  Ynaija  |  All Entertainment News Today

Entertainment (World): TMZ  |  Daily Mail  |  Huffington Post

Sports: Goal  |  African Football  |  Bleacher Report  |  FTBpro  |  Kickoff  |  All Sports Headlines Today

Business & Finance: Nairametrics  |  Nigerian Tenders  |  Business Insider  |  Forbes  |  Entrepreneur  |  The Economist  |  BusinessTech  |  Financial Watch  |  BusinessDay  |  All Business News Headlines Today

Technology (Local): Techpoint  |  TechMoran  |  TechCity  |  Innovation Village  |  IT News Africa  |  Technology Times  |  Technext  |  Techcabal  |  All Technology News Headlines Today

Technology (World): Techcrunch  |  Techmeme  |  Slashdot  |  Wired  |  Hackers News  |  Engadget  |  Pocket Lint  |  The Verge

International Networks:   |  CNN  |  BBC  |  Al Jazeera  |  Yahoo

Forum:   |  Nairaland  |  Naij

Other Links: Home   |  Nigerian Jobs