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Admazely

Easy-to-setup retargeting for web shops
Startup Cemetery
GENERAL INFORMATION
Category:
Marketing
Country:
Denmark
Started:
2011
BUSINESS FAILURE
Outcome:
Bankruptcy
Cause:
Lack of Funds
Closed:
2013
FOUNDERS & EMPLOYEES
Number of Founders:
4
Name of Founders:
David Björklund, Peter Vilsholm Therkildsen, Sylwia Erhardt-Bednarska, Søren Holbech Nielsen
Number of Employees:
1-10
FUNDING
Number of Funding Rounds:
1
Total Funding Amount:
$600K
Number of Investors:
3

What was Admazely?

Admazely was a Copenhagen based startup that offered simple to set up retargeting tools for web shops. Its objective was to give technological advertising solution for online businesses to effectively re-engage website visitors who that go through with the offerings purchase.

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Why did Admazely fail and shut down?

Admazely shut down in May 2013 on the grounds that it ran short on financing and didn't figure out how to secure more cash.

Besides funding, an additional problem appeared when several people had to leave the company. One of the co-founders decided to leave the company to relocate with his partner. Admazely also lost two key English-speaking sales people that till then had been very successful in driving sales from the UK market. With low cash supply, the loss of crucial people in his team and a high burning rate, Admazely decided to file for bankruptcy within a year of its launch.

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