LOS ANGELES — from www.xbiz.com- Veteran online advertising solutions shop TrafficDude has announced the immediate cessation of its services.
Advertisers and publishers were notified of the company’s closure and of the principal’s personal bankruptcy liquidation in a letter from attorney Mac Gallegos, which apologized for any inconvenience to clients and noted that advertisers “with a balance of undelivered campaigns will be paid from the proceeds of the liquidation of all assets.”
Traffic Dude cofounder Scott Rabinowitz spoke to XBIZ about the company’s closure.
“We made it nine years to the month,” Rabinowitz said as he relayed his sadness over the fate of one of the industry’s preeminent traffic brokers, which was widely regarded as one of the most upstanding companies in the business.
In the end however, the high ethical standards which the company prided itself upon may have contributed to its demise.
“We never did a lot of the things in this space that made other people money,” Rabinowitz told XBIZ as he cited a range of issues that lead to the company’s closure, including the avoidance of “shady” propositions; slow paying vendors and the huge cost of personnel and the time and labor-intensive nature of TrafficDude’s services, which had expanded over the past several years.
“We are happy for the fact that we could provide value to a lot of people for a number of years,” Rabinowitz said.
The company is now focused on honoring its debts as fairly as possible and within the guidelines to be established by the bankruptcy court.
“We’re not going to do any of the stereotypical things that companies in our position do,” Rabinowitz commented, referring to how some companies shut their doors, neglect debts and then reopen under a new name. “There will be no re-opening.”
The company operators emphasized their desire to see everyone treated fairly during this process; hence the court-supervised bankruptcy proceedings.
“We’re liquidating our assets so that our debts can be paid,” Rabinowitz concluded.
A class act clear to the end, Rabinowitz said his future plans remain undetermined.