d3sign/Getty Images
Pocketmath, an adtech company that helped advertisers buy programmatic ads on publisher sites, shut down after facing lawsuits over unpaid bills.
Cofounder and executive chairman Eric Tucker said that Pocketmath had tried to get acquired but declined to discuss what happened to the company.
Adtech firms including Mediavine were alerted that Pocketmath may seek "clawbacks," or ask publishers to return money that they've already been paid.
Visit Business Insider's homepage for more stories.
Pocketmath, a small adtech firm with offices in Singapore and San Francisco, has shut down after facing allegations of unpaid bills and unsuccessful attempts to sell.The 10-year-old firm sold technology that advertisers use to buy mobile ads programatically and competes with bigger firms like The Trade Desk, Google, MediaMath, Xandr, and Zeta Global.Pocketmath raised $20 million from investors including Rakuten and InnoVen Capital. LinkedIn data shows that the firm had 21 employees.It's unclear if consolidation contributed to Pocketmath's challenges, but it's grown significantly harder for small adtech companies
to compete with
giants like The Trade Desk and Google that dominate the programmatic ad business. Adtech firms with tech similar to Pocketmath including
IgnitionOne and Sizmek have been sold for parts in recent years.
