AdColony trimmes
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"AdColony Cuts More Jobs, Doesn’t Plan To Hire A Permanent CEO
AdColony further trimmed its executive ranks this week in an effort to streamline the business and get to profitability.
The mobile video ad network did away with at least five senior and mid-level roles in North America.
AdColony’s former VP of performance, Tim O’Neil, who joined AdColony less than a year ago, was let go on Monday after his position was eliminated.
AdExchanger learned than several positions related to growth, publisher biz dev, marketing and product management for AdColony’s software development kit are likely being cut as well. On top of that, the company lost a number of ad and programmatic sales people over the past year to greener pastures at Ogury, Unity, King and Spotify.
AdColony denied it’s scaling down in preparation for a sale.
"
https://adexchanger.com/mobile/adcolony-cuts-more-jobs-doesnt-plan-to-hire-a-permanent-ceo/
Kurt
Så kan man fritt spekulerer i om AdColony pyntes for salg eller for å øke lønnsomheten (på høy tid i så fall).
Alt av interesse?
"AdColony Cuts More Jobs, Doesn’t Plan To Hire A Permanent CEO
AdColony further trimmed its executive ranks this week in an effort to streamline the business and get to profitability.
The mobile video ad network did away with at least five senior and mid-level roles in North America.
AdColony’s former VP of performance, Tim O’Neil, who joined AdColony less than a year ago, was let go on Monday after his position was eliminated.
AdExchanger learned than several positions related to growth, publisher biz dev, marketing and product management for AdColony’s software development kit are likely being cut as well. On top of that, the company lost a number of ad and programmatic sales people over the past year to greener pastures at Ogury, Unity, King and Spotify.
AdColony denied it’s scaling down in preparation for a sale.
"
https://adexchanger.com/mobile/adcolony-cuts-more-jobs-doesnt-plan-to-hire-a-permanent-ceo/
Kurt
Redigert 19.01.2021 kl 17:40
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Kurt Asje
10.04.2018 kl 11:05
1897
For sale?
"Insight:
Both mobile video and mobile programmatic ad sales continue to grow. However, the space is challenging as consumers prefer ad-free content and more platforms look for ways to meet this demand. AdColony has had a tumultuous year of coping with shifts in the mobile video ad market. The company lost money as revenue fell 34% to $84.9 million in Q4 2017 from a year earlier, while performance revenue declined 40% because of competition from mediation platforms, disappointing adoption of AdColony’s SDK and lackluster demand for new ad formats, including playables, per AdExchanger.
AdColony isn’t up for sale, and the latest job cuts are more of a reflection of its attempt to regain profitability. Parent company Otello, a Norwegian software developer, had $86 million in cash at the end of last year and no debt. It blamed a 30% drop in revenue to $99.2 million in Q4 2017 from a year earlier mostly on AdColony.
The company in February told investors said it expects AdColony to be profitable in 2018 on an adjusted EBITDA basis. AdColony’s remaining C-suite report directly to Otello CEO Lars Boilesen. Opera bought AdColony in 2014 to support its mobile ad arm, Opera Mediaworks. The unit this year was spun off into a separate company that changed its name back to AdColony."
https://www.mobilemarketer.com/news/layoffs-continue-at-adcolony-which-wont-seek-a-new-ceo/520856/
Kurt
"Insight:
Both mobile video and mobile programmatic ad sales continue to grow. However, the space is challenging as consumers prefer ad-free content and more platforms look for ways to meet this demand. AdColony has had a tumultuous year of coping with shifts in the mobile video ad market. The company lost money as revenue fell 34% to $84.9 million in Q4 2017 from a year earlier, while performance revenue declined 40% because of competition from mediation platforms, disappointing adoption of AdColony’s SDK and lackluster demand for new ad formats, including playables, per AdExchanger.
AdColony isn’t up for sale, and the latest job cuts are more of a reflection of its attempt to regain profitability. Parent company Otello, a Norwegian software developer, had $86 million in cash at the end of last year and no debt. It blamed a 30% drop in revenue to $99.2 million in Q4 2017 from a year earlier mostly on AdColony.
The company in February told investors said it expects AdColony to be profitable in 2018 on an adjusted EBITDA basis. AdColony’s remaining C-suite report directly to Otello CEO Lars Boilesen. Opera bought AdColony in 2014 to support its mobile ad arm, Opera Mediaworks. The unit this year was spun off into a separate company that changed its name back to AdColony."
https://www.mobilemarketer.com/news/layoffs-continue-at-adcolony-which-wont-seek-a-new-ceo/520856/
Kurt