MediaMath seemed destined for a $1B fairy-tale exit. Instead, most early investors got nothing.
The startup had created the first demand-side platform , which used automation to buy targeted ads across the internet. Zawadzki would describe it as"the Bloomberg terminal for marketers" and,MediaMath had hired hundreds of employees around the world, many of whom went on to high-level roles at companies like Google and PayPal or launched their own startups.
Joe Zawadzki alongside former Publicis Chief Data Officer Jason Kodish at an advertising conference in 2016.Based on interviews with 30 people close to the company, leaked documentation, and court filings, this is the inside story of how ambition, missed opportunities, a late-stage investment, and a boardroom breakdown led to MediaMath's unraveling.
In 2016, Singapore Telecommunications was in early conversations with MediaMath about an acquisition at a value of $700 million to just south of $1 billion, according to people familiar with the talks. The people said Zawadzki responded with a number north of $1 billion and the discussions swiftly ended.
"The warmth and genuine desire to succeed with people he loved was absolutely sincere and palpable," the senior executive said. MediaMath became embedded in IBM Watson Marketing's software for IBM's salesforce to pitch to its vast advertiser client base. IBM suggested buying the company for about $1 billion, people familiar with the matter said.
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