E-commerce > X10 Files for Chapter 11 Bankruptcy
X10 - equally famous for its surveillance cameras and popup ads - has filed for Chapter 11 bankruptcy protection. The move follows a $4.3 million judgement against the company for unlicensed use of popunder ad technology. In its filing, the company claims assets of $1 to 10 million, and liabilities of $10 to 50 million.
At one time, X10 was one of the biggest advertisers on the Internet. The advertising created a well-known brand name, but doesn't appear to have been cost-effective in driving sales.
Posted by lesjones