Verve, a publicly traded Swedish adtech company with an estimated market cap of $740 million, laid off an undisclosed portion of its staff in late August and early September, ADWEEK has learned.
The cuts were made primarily to the company’s marketplace team, according to two impacted staffers, speaking on condition of anonymity. This group previously encompassed two separate supply-side platforms (SSPs), PubNative and Smaato, but is now a unified arm managing the Verve SSP. Additional cuts were made in the sales and marketing departments, sources confirmed.
Those affected learned that they were being let go with little notice, both sources said.