The rise, fall, and return of adtech pioneer MediaMath

• The adtech pioneer MediaMath filed for bankruptcy in 2023.
• It was a stunning fall from grace for one of the best-known early adtech companies.

In 2023, MediaMath, one of the best-known adtech pioneers, shocked the advertising world when it filed for Chapter 11 bankruptcy and immediately ceased operations.

Business Insider closely covered the story of MediaMath, which, under new ownership, is setting itself up for what could be a remarkable return. Get up to speed:

• MediaMath seemed destined for a $1B fairy-tale exit. Instead, most early investors got nothing.

The inside story on how the former adtech unicorn fell from grace.

• The digital-ad industry is spending the 4th of July holiday scrambling to recover funds lost from MediaMath's shocking bankruptcy

MediaMath's sudden bankruptcy sent shock waves through the ad industry, with the company owing more than $100 million to creditors that included Magnite, PubMatic, Sonobi, and Microsoft.

• Former adtech unicorn MediaMath nearly saved itself from bankruptcy. Then its last hope vanished.

Insiders recount the final days of MediaMath. The company had been inches away from avoiding bankruptcy but was dealt a blow when its biggest investor refused to fund it further and a would-be buyer unexpectedly pulled out of a rescue deal in the final throes.

• The founder of fallen adtech startup MediaMath is trying to buy back the bankrupt company's assets

MediaMath cofounder and former CEO Joe Zawadzki, who left the company in 2021, assembled a syndicate in an attempt to buy back the company from bankruptcy.

• MediaMath founder Joe Zawadzki's 'Project Phoenix' looks to raise at least $10 million to help buy back the bankrupt adtech company

The "Project Phoenix" syndicate, operated by team members of Zawadzki's VC fund AperiamVentures, had sought to raise at least $10 million in a SAFE financing.

• Infillion emerges as buyer for bankrupt adtech company MediaMath

Adtech firm Infillion was the highest bidder in MediaMath's bankruptcy auction, putting forward $22 million to acquire the company.

• Inside Infillion's 4-year plan to revive fallen adtech pioneer MediaMath back to a $100 million business

Infillion outlined its plans to hire back former staffers, win back former clients, and offer a "walled garden as a service" to help big retailers, ecommerce platforms, healthcare and other companies grow their own advertising businesses.

• Infillion has rehired 40 ex-MediaMath staffers as it presses ahead to relaunch the bankrupt former adtech pioneer

Infillion said in December it had managed to hire back dozens of former MediaMath staffers and that former clients were testing the platform ahead of a formal relaunch.