Joseph Arthur
Aug 24, 2023

Infillion purchases MediaMath following $22 million bid for bankrupt DSP

The adtech firm is set to become MediaMath’s new owner for a fraction of the $1 billion price tag once placed on the recently-bankrupt company.

Infillion purchases MediaMath following $22 million bid for bankrupt DSP

At a bankruptcy hearing on 23rd August, adtech firm Infillion put in a winning bid of $22m to take possession of recently bankrupt demand side platform (DSP) MediaMath, a bargain considering the company was once valued at $1bn.

First reported by Digiday, the investment fund owned by former MediaMath CEO Joe Zawadski, AperiumVentures, advised on the bid, prompting some to posit that the adtech veteran may be looking to reconnect with the company he founded over 15 years ago.

The auction came as a result of MediaMath shocking the adtech world by filing for Chapter 11 just over two months ago. With many of its 300 employees having now moved on, as well as the company’s former clients, Infillion’s purchase puts a bow on what has been a dramatic story.

However, many of the DSP’s former sell side platforms (SSPs), including Magnite and PubMatic, remain out of pocket, due to almost $125m worth of unfulfilled payments. It’s unclear whether these SSPs will be compensated for what they are owed.

Now backed by AperiumVentures, Infillion’s purchase of MediaMath could see the DSP used in association with the investment fund’s 15 ad tech start-ups currently in its portfolio, by way of growing each organisation in unison.

Performance Marketing World

Related Articles

Just Published

4 hours ago

Campaign at Cannes 2024: Editor's blog

Chill your rosé and pop the cork—it's Cannes Lions 2024! Join Campaign Asia-Pacific's Rahat Kapur as she takes you on a walk down the Boulevard de la Croisette live from this year's extravaganza, behind-the-scenes at the best talks at the Palais, unpacks the winning work with jurors, and more.

8 hours ago

McDonald's global CMO: 'Say yes to work that makes ...

Morgan Flatley said businesses should elevate creative excellence and embrace risk.

8 hours ago

Iris hires former Grey Europe chief as global ...

Eduardo Maruri ran Grey Europe. He was also a candidate for Ecuador’s presidency in 2023.

8 hours ago

DDB Worldwide promotes Susie Walker to global chief ...

Walker will report to DDB Worldwide president and global chief creative officer Chaka Sobhani.