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Comment RSSLeadClick EAdvertising Closes Doors
Written by Pace LattinSeptember 29, 2011 # 2:14 pm # Industry News # 7 Comments
LeadClickMedia, a CoreLogic company, has reportedly shut their doors. Calls to their office were unreturned, and no one picked up the operator extension. According to employees of the company, the company announced today that they were closing and immediately laid off almost all employees without notice.
Several current employees when asked confirmed that the company was completely shut down and would no longer in business. According to insiders, over 50 employees were handed pink slips today. This does not come unsurprised, as earlier this year some of the more senior employees were let go as part of cost cutting measures.
In 2005 LeadClick media was acquired by First Advantage, paying approximately $150 for a majority stake in the company.
The closing of the company is rumored to be related to both the dwindling company revenues plus a recent expensive class action lawsuit that resulted in what potentially could be a multi-million dollar class-action settlement.
Written by Pace Lattin
Pace Lattin is one of the top experts in interactive advertising, affiliate marketing. Pace Lattin is known for his dedication to ethics in marketing, and focus on compliance and fraud in the industry, and has written numerous articles for publications from MediaPost, ClickZ, ADOTAS and his own blogs.
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[...] !important}#ia-optin-form{display:none}LeadClickReviews — 30 September 2011As per these articles, LeadClick and EAdvertising has shut down.LeadClick was the parent company of Affiliate Network, [...]
[...] per these articles, LeadClick and EAdvertising has shut [...]
$150 for a majority stake is a pretty sweet deal
what was the lawsuit about ? I wonder if they owned some of the offers that had the Flogs or
Fake news sites..,
Lawsuit mentioned probably the class for SMS spam – they had to put up ~$12.5m into the settlement:
http://www.topclassactions.com/lawsuit-settlements/lawsuit-news/1351-b2mobile-a-leadclick-text-ad-class-action-settlement-
I am not surprised here. These guys owe us money and when it was time to collect, no emails or phone calls were answered. I’m glad these guys are out of commission.
Oh goodness, thank you for sharing this post.
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