Marin Software, an advertising tech firm based in San Francisco, filed for Chapter 11 bankruptcy due to struggles in a market dominated by Google and Meta. The company announced its intention to dissolve after laying off 30% of its staff. CEO Chris Lien indicated plans to sell Marin Software to an investment arm of ESW Capital. He emphasized the pride in the company's achievements and highlighted that all creditors would be repaid, ensuring operational continuity during the transition.
CEO Chris Lien expressed pride in Marin Software's achievements and stated that bankruptcy is the best option for shareholders amid struggles against Google and Meta.
Marin Software filed for Chapter 11 bankruptcy, submitting its plan to dissolve after struggling to compete in the online ad market against dominate players.
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