adBrite Shuts Down After 8 Years in Business

Ad Network and ad exchange adBrite is shutting down after 8 years in business.

After a failed attempt to selling the company, they’ve decided to close shop.

CEO Hardeep Bindra is telling partners that the company, which has 26 employees, will close by the end of the month, and is selling off its assets. Adbrite was one of the first ad networks I got a start with online and one of the first places I ever made any money back in 2006.

I’ve personally seen the the site go through many changes, from starting out as a vibrant ad network to then offering one of the first ever ad supported video player solutions. Though they were coming up with new products and doing very well the company was always plague with bugs and performance issues and they were never truly resolved.

In an interview, Bindra says he had been trying to sell off the entire company, but sales talks “unfortunately fell through a couple weeks ago.”

AdBrite raised a reported $40 million since 2004, much of it from Sequoia Capital.

For years it was one of the largest ad networks, and was to go to alternative to Google and Yahoo. That doesn’t mean much now though, especially now that the the ad exchange market is dominated by a handful of large players (you can also add newcomer AppNexus to the mix, as well as Facebook’s newly hatched FBX).

Official message:

Dear adBrite Publisher,

Over the last few weeks, adBrite and its management have been evaluating the go-forward plan for the business. Given market conditions and certain financial liabilities, in working with our lenders, we have decided to cease operations on Feb 1, 2013.

This is a difficult decision for all of us at adBrite. However, after much deliberation this seems to be the best course of action despite the impact it will have on all the employees, clients and partners who helped build this business. There will be a team in place as needed to assist with winding down.  

Thank you for being part of the adBrite community.

The adBrite Team.

Sad to see them go but I always had a feeling this was going to happen soon or later, so long adBrite.