Eyeview, a leader in video personalization software focusing on the ad tech space is shutting down after running out of operating cash. The 13-year-old company had raised $80 million in venture capital, hired a new CEO and unexpectedly was unable to raise additional funding. Eyeview joins a growing list of other video software companies that have shut their doors in 2019. In this case, Eyeview’s roughly 100 employees were informed of the news and the business will cease operations by the end of the year, with all the staff let go.
Eyeview, was considered a performance ad specialist that offered brand marketers such as P&G and Honda targeted video ads using personalized video technology.
Recently venture capitalist have been cooling on dishing out capital to ad tech and video tech startups, a lot that has to do with market consolidation and Google and Facebook’s domination of the digital ad business. The other major factor is the rise of browser-level and governmental clampdowns on user tracking.
According to inside sources, the company became distracted a couple of years ago in trying to divert its attention away from its core competency as a digital video performance advertising player and never recovered. The company was not expected to run out of cash and it seemed to catch all the employees and customers off guard.
Sources inside the company say that the operation was an expensive business to run. Customized video creative and measurement requires expensive coders and data analysts. Also, not making things easier, Eyeview was competing for performance ad budgets that tend to go to Google and Facebook’s self-service buying platforms.
You can learn more about Eyeview by viewing their archived 50Wheel profile here.