P.S.- MediaMath

Last week's news of the bankruptcy of MediaMath , the pioneering adtech company I co-founded, prompted the kind of reflections that deaths, even of the corporate kind, can be relied on to kindle.

I left MediaMath in 2019 after thirteen years. Hindsight has left me with many competing narratives — thrilling, disappointing, euphoric, heartbreaking, bewildering, maddening. Sometimes combined. All very emotional.

The first deals in NYC in 2007/8 were hard-fought. “Transparency” in adtech wasn’t a thing, nor was “% of media” as a commercial model. Fun memory: using ValueClick’s income statements in sales decks to point out the lavish economics of an unchecked supply side. Felt spicy. Hustlin'! We joked of “easy money” rumored to be about in digital marketing budgets, but never met it.

I was fortunate to create great friendships in those days especially — something about camaraderie during intense times, especially among those in a small and highly specialized industry. Today, some of the friends I love the most in the world were brought together by MediaMath. Also, some of the people I’m most bewildered by!

Launching MediaMath from London in 2011 was about the most fun I could have had in business — new people, languages, lands, a novel solution, opportune timing and a lot of luck. I was fortunate to have amazing partners — the best in the business — and we did fabulous work. We were humble and humorous, hardworking and assiduous. We showed that our business could work around the world (no trivial thing!) and that it could be a rocket ship. I was told it was inspiring. I agree, I’m still inspired. We went for it, unconstrained and feeling limitless possibility, which just kept coming. 

Before I knew it we had welcomed 150+ amazing people to join us, across three continents. In 3 years, revenues from outside the U.S. (not “international!”) were 30%+ of the business. I made mistakes and it was very lonely – the road around the world is long and full of strangers! – but looking back it was top of the world stuff. Literally, I ended up meeting my beautiful wife on our rooftop party at Cannes!

We hadn’t completed the thought with our newfound geographic footprint when I was invited back to NYC in 2014 as CRO. We posted outstanding growth way above market for the next three years while I did that job. But CRO is a thankless position. If a CRO works for you or you work for one, give them a big hug.

My last hoorah running BD at MediaMath included exploring blockchains with IBM – what if we could validate impressions and stream campaign payments as they were owed instead of 90-to-never payment cycles? Still a good idea.  

Three years later, in May 2022, I got a mass email that the MediaMath I knew had been liquidated, remaining founder’s equity (along with all former employees who’d bought their options, confident) erased, the CEO fired. Not a call or text.

That hurt, but not more so than on the news of last week. As the Brits taught me to say, I’m gutted, especially on receiving many kind notes inquiring if I’m ok now. I’m doing great and have been very fortunate. While I thought I’d done my mourning, I do feel a great deal of sorrow now for those who lost their jobs and have freshly had their hearts broken. I’ve successfully helped MediaMathers find their next success in the past; I’m here to help personally if you're impacted.

I’m so grateful to the most recent management team and staff who by all accounts are heroes for trying to resuscitate the business. I’m also grateful to all those I got to work and play with, all around the world. Building business with you was awesome madness! I feel lucky to have had the opportunity, lucky in all that I’ve learned, and lucky in all that I’ve gained.

With love and admiration,