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OneMediaPlace cuts staff

Published on .

San Francisco--OneMediaPlace, an advertising e-marketplace that made a costly misstep into auctioning, has confirmed layoffs of 30% of its workforce in New York and San Francisco. OneMediaPlace is in the midst of a rebranding effort designed to position the company away from its old name, AdAuction, and image of an auctioneer of advertising space. OneMediaPlace, which has raised $92 million in venture capital this year, discovered that media buyers were adverse to the auction model because they couldn't plan campaigns on the exigencies of bid-and-ask media buying.
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