MediaMath owes over $100M to at least 200 companies

New York-based demand-side platform MediaMath, which filed for Chapter 11 bankruptcy protection in a Delaware court last Friday, now has between $100 million and $500 million in liabilities.

According to sources familiar with the matter, the digital advertising company decided to file for bankruptcy protection after not yielding profitable results from its recent acquisition and investment negotiations.

As reported by AdExchanger, MediaMath’s filing showed that its liabilities are between $100 million and $500 million, its estimated assets fall within the same range, and that it owes money to a diverse group of 200-999 creditors, which includes many big names in the ad-tech sector.

Below you can see the list of all the 30 creditors with the largest unsecured claims.

  • Magnite: $12.6M
  • PubMatic: $10.5M
  • Sonobi: $5.3M
  • Xandr: $4M
  • AdsWizz: $3.4M
  • Smart AdServer (now known as Equativ): $3.4M
  • TripleLift: $2.8M
  • Azerion Technology: $2.6M
  • LiveRamp: $2.3M
  • Index Exchange: $2.2M
  • OpenX: $1.9M
  • Google: $1.7M
  • DoubleVerify: $1.5M
  • GumGum: $1.4M
  • Unruly: $1.4M
  • Madhive: $1.3M
  • Oracle (Grapeshot): $1.2M
  • Yahoo Ad Tech JV: $1.1M
  • Yieldlab: $1.1M
  • Eyeota: $1.1M
  • T-Mobile (PushSpring): $1.05M

When setting aside rent and IT services, the majority of the company’s debts mainly stem from media costs, accompanied by a smaller portion related to third-party data and ad verification.

AdExchanger notes that there is no guarantee in a Chapter 11 bankruptcy proceeding that unsecured creditors will receive a payment, adding that the process could require several years.

In addition, the supply partners of MediaMath, who fall under the unsecured category, may receive a small amount of payment, while secured creditors such as Goldman Sachs will receive their money before any other claims are fulfilled.

Written by Tuna Cetin


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