Pasadena-Headquartered Global Tech Firm OpenX Reportedly Lays Off 100

Published : Wednesday, December 19, 2018 | 5:52 AM

OpenX, a Pasadena company that operates a global programmatic advertising platform, has laid off about 100 employees as part of a review that started earlier this year to better position itself for growth, a report in the Wall Street Journal said Tuesday.

The report said a company spokesman has confirmed the layoffs. The areas affected include human resources, engineering, account management, and marketing.

“Coming off our fifth straight year of profitability in 2018, we are proactively addressing how we can maintain our leadership position for years to come,” the Wall Street Journal quoted the spokesman as saying.

In October, OpenX began executing a review it began last summer, leading to its closing its Santa Clara office and consolidating its engineering hubs into Pasadena and Krakow, Poland.

The spokesman said the company plans to invest more than $100 million in new products next year.

The innovations would help marketers and publishers better identify and target users with ads that they are likely to respond to as they switch between sites and devices. Senior hires will also be announced in January, the spokesman added.

A report in AdExchanger said the company also needs to “quickly shift away from its legacy display advertising business and into video.” OpenX said it got millions in connected TV revenue this year, and its video business increased 600 percent this year, according to the report.

In March, the company reported it had $170 million in net revenue for 2017.

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