Adventa Closes After Failing to Obtain FundingOnline direct marketing service provider Adventa, Mountain View, CA, closed this week after failing to obtain necessary funding to continue operating, according to several sources.
"I'm not surprised at all," said David O. Schwartz, president of 21st Century Marketing, Farmingdale, NY.
The news came less than two weeks after Adventa pitched its online list search, count and order services to managers and brokers during a List Leaders session at the Direct Marketing Association's fall show in New Orleans.
After the presentation, a number of list industry veterans expressed serious doubts about Adventa's services and its chance of success in the list market.
"Creating services and products for the list industry is not easy, and to succeed you have to understand the business, which they clearly didn't," said Schwartz, who is also chairman of the DMA's List Leaders.
Several calls to Adventa were not returned.