OpenX_(company)

OpenX (company)

OpenX (company)

California-based adtech company

OpenX Software Ltd. is a programmatic advertising technology company founded in 2008.[2] It has raised over $75 million from Accel, Index, Samsung, Dentsu, Mangrove Capital and others.[3]

Quick Facts Company type, Industry ...

Background

OpenX has offices in Pasadena (HQ), New York, Tokyo, London, and Kraków.[4]

In September 2017, OpenX acquired two publisher tools, Mezzobit and PubNation.[5]

After laying off "around 100 employees" in December 2018,[6] the following month OpenX announced plans to move all on-premises workloads fully into the Google Cloud Platform by Q2 2019.[7]

In May 2019, OpenX launched OpenAudience, a planning and targeting tool based on LiveRamp and Tapad data.[8]

In January 2020, OpenX announced that CEO and co-founder Tim Cadogan was leaving to become the CEO of GoFundMe and that President John Gentry would step into the CEO role.[9] This was followed in April by another round of layoffs where 15% of the company was affected.[1]

In December 2021, the Federal Trade Commission announced that OpenX would pay a $2 million fine "to settle allegations that the company violated federal children's privacy law." Originally, the fine was to be $7.5 million but it was reduced "due to the company's inability to pay."[10][11]

References

  1. [1]
    Sluis, Sarah (2020-04-28). "OpenX Cuts Staff, Hours And Executive Pay In Response To Reduced Marketer Spend". AdExchanger. Access Intelligence, LLC. Retrieved 2020-04-29. OpenX said Tuesday it has laid off, furloughed or cut hours for 15% of its employees. Most of that percentage were layoffs and furloughs, and the number of people whose hours were cut was small, the company said.
  2. [2]
    Jarvey, Natalie (2013-01-17). "OpenX Raises $22 Million for Mobile Expansion". Los Angeles Business Journal. Anna Magzanyan. Retrieved 2019-04-15. OpenX was founded in 2008 as an ad exchange for buyers and sellers of web ads to make instant transactions.
  3. [3]
    Sarno, David (31 May 2011). "OpenX, Web ad firm, raises $20 million, expects to be profitable within a year". Los Angeles Times. Retrieved 31 May 2011.
  4. [4]
    "OpenX Office Locations". OpenX. Retrieved 2019-04-15.
  5. [5]
    "OpenX Acquires Mezzobit And PubNation To Sweeten Publisher Offering | AdExchanger". AdExchanger. 2017-09-25. Retrieved 2017-11-16.
  6. [6]
    O'Reilly, Laura (2018-12-18). "Ad-Tech Company OpenX Lays Off Around 100 Staff". The Wall Street Journal. New York City: Dow Jones & Company. Retrieved 2019-02-14. Ad-tech company OpenX...has laid off around 100 employees, the company confirmed Tuesday.
  7. [7]
    "OpenX bets future is serverless in move to Google Cloud Platform". The Drum. Retrieved 2021-04-14.
  8. [8]
    "OpenX Launches People-Based Marketing Solution, OpenAudience™". www.martechadvisor.com. Retrieved 2021-04-14.
  9. [9]
    Sluis, Sarah (2020-01-29). "OpenX CEO Tim Cadogan Departs For GoFundMe". Ad Exchanger. Access Intelligence, LLC. Retrieved 2020-02-02. OpenX CEO Tim Cadogan is leaving after 12 years to become CEO of GoFundMe. OpenX President John Gentry, a seven-year vet at the company, will step into the CEO role.
  10. [10]
    Page, Carly (2021-12-16). "Ad exchange OpenX slapped with FTC fine for collecting location data on children". TechCrunch. Verizon Media. Retrieved 2021-12-20.
  11. [11]
    "Advertising Platform OpenX Agrees to Injunctive Relief and $2 Million Payment in Case Alleging Violations of Children's Privacy Law" (Press release). United States Department of Justice. 2021-12-28. Retrieved 2021-12-29.
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