Google Shuts Off IncrediMail’s AdSense
Israel-based IncrediMail saw a big chunk of their revenue go away when Google suddenly ended their existing AdSense and search ad relationship with the web-based email firm.
On October 3rd, 2007, IncrediMail rang the opening bell on NASDAQ. Later, on November 13th, they announced record revenues for the quarter and the first nine months of the year.
But news has emerged from the company that Google ended the AdSense partnership responsible for bringing a lot of that revenue to IncrediMail. Google also turned off the search ads displayed through IncrediMail.
“The Company is currently clarifying the matter with Google and simultaneously exploring alternative relationships, with Google and other vendors,” IncrediMail said in a statement.
That opening bell must sound like a distant, funereal echo now. Shares of IncrediMail plunged on NASDAQ; their previous close of $4.57 has turned into a $2.80 price today, as of press time.
“There is no reason for this move yet and I shudder to think what happened to cause Google to cancel the program,” Aaron Katsman said at BloggingStocks. “While this is a short-term setback for the internet company, I am sure that it will quickly announce a new partnership.”