Hitwise has announced that it will wind down its operations after more than 20 years in business following widespread controversy over Jumpshot.
In a statement (opens in new tab) on its site, the company explained that the sudden closure is the result of an unexpected turn of events, saying:
“Due to events outside of our control, Hitwise is winding down its operations. This is a very sad time for us at Hitwise after 20 years of operation providing first to market online measurement. We are very proud of the great company and industry leading insights products we built over the years. We want to thank our clients around the world for their valuable partnership as well as their understanding and support as we manage through this unexpected turn of events.”
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While the statement on is site is quite vague, the “unexpected turn of events” could be a reference to how Avast's marketing technology subsidiary Jumpshot also recently shut down.
Jumpshot was an offshoot of antivirus maker Avast which sold sensitive information, such as what consumers searched for, clicked on and installed on their computers, to companies like Hitwise.
While Hitwise started out as a company that measured internet traffic, in 2016 the company began to offer consumer insights including what users search for as well as demographics to other businesses. Some of its biggest clients include Ikea, Conde Nast, Expedia, eBay, Walmart, ABC and a host of other well known and popular businesses.
However, about a week after Jumpshot announced it was closing up shop, Hitwise sent a letter (opens in new tab) to its clients in which it explained that consumer insights would be “paused” until further notice.
In the company's most recent client notice, Hitwise explained to customers that they will have access to its platforms until the middle of March. The company also revealed that it has negotiated a 60-day fully-featured free trial for SimilarWeb that will be made available to all current Hitwise customers.
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Via AdAge (opens in new tab)