Mobile video ad firm AdColony will shed more than 20% of its staff in a "painful but necessary" round of job cuts as it shifts focus to performance advertising, programmatic and mobile video inventory. The cuts follow the loss of One jobs in July and CEO Will Kassoy said a lack of customers meant the company couldn't grow its core areas as fast as he would have liked, leading to more layoffs. Kassoy said he aims to increase AdColony's revenue from programmatic to 50% from 20% and added the firm was focusing its efforts on "video and the app-install market".
Mobile video ad firm AdColony will shed more than 20% of its staff in a "painful but necessary" round of job cuts as it shifts focus to performance advertising, programmatic and mobile video inventory. The cuts follow the loss of 100 jobs in July and CEO Will Kassoy said a lack of customers meant the company couldn't grow its core areas as fast as he would have liked, leading to more layoffs. Kassoy said he aims to increase AdColony's revenue from programmatic to 50% from 20% and added the firm was focusing its efforts on "video and the app-install market".