LONDON — The parent company of Reporo.com cited Google and Facebook's consolidation of mobile advertising, as well as draconian regulatory and carrier factors, as reasons the mobile performance ad network has filed for bankruptcy.
Last week, parent company Mobilewebadz said that it was insolvent and that all of its assets would be liquidated.
While the company continued to grow into 2015, revenue declined significantly between 2016 and 2018 as a result of Google and Facebook's consolidation and new regulatory and carrier initiatives.
Reporo said that those issues interfered with the smooth conversion of advertising clicks and that by December, the company was considering its options.
“An accelerated marketing campaign in respect of the company’s business and assets was conducted, but no offers were forthcoming,” Mobilewebadz said. “Subsequently, the decision was taken to effectively cease trading on May 10 and the company was placed into creditors’ voluntary liquidation.”
The company has tapped London-based BM Advisory to liquidate its assets.
The Reporo mobile ad network started up in 2006 and primarily converted for products such as VOD, utility apps, gaming, men’s health, casino/sports betting and adult, with an aim of providing returns for advertisers and publishers across its banner, pop-under and remarketing network.
Just last year the company created an affiliate network, while officials said that they were attempting to strengthened partnerships with numerous key advertisers within the industry.