WiredEmpire, the e-mail marketing tool arm of New York-based Marketing Services Group Inc., discontinued operations yesterday. According to the company, the closing resulted in a loss of 53 jobs.
“We recognize that our greatest competitive strengths lie in direct marketing, and after careful analysis we have concluded that discontinuing WiredEmpire’s operations is in the best interest of Marketing Services Group and its shareholders. Recently it has become clear that in today’s marketplace, WiredEmpire’s prospects for profitability were not as strong as they needed to be,” said Marketing Services Group chairman and CEO Jeremy Barbera in a statement.
In March WiredEmpire underwent two rounds of stock sales to MSGI shareholders and business partners. At the time, the company announced that the stock sale resulted in a $20 million in financing.
WiredEmpire clients included EDS, Conjoin, Hearst Busines Media, Primedia (DIRECT Newsline’s parent company), RoadRunner Sport, and ZDNet.
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