Trada, a US-based company managing paid advertising on search engines, that is backed by internet company Google’s corporate venturing subsidiary Google Ventures, has ceased trading.
In a statement on Trada’s website, Matt Harada, chief executive of the company, said that the company had become unable to pay its creditors who have rights to all of Trada’s assets.
Google Ventures first invested in Trada’s $5.8m series C round in July 2010 and again in its $9m series D round in January 2012. Both times it was joined by venture capital firm Foundry Group.
The Foundry Group also took part in the company’s $2.2m series A round in March 2010 along with private investors. In August 2013 Trada gained $1m in private equity from undisclosed investors.
The company has advised its customers on other companies that provide similar services.