Carat Exchange Shut Down

By Jon Lafayette

The Carat Exchange, a program designed to allow the advertising industry to share information about new technology, is being shut down.

The decision came following the announcement of the departure of Carat Americas CEO David Verklin, who created and supported the exchange, according to Mitch Oscar, executive VP and director of Carat Digital.

The agency has also lost a number of clients over the past year.

“Due to budgetary considerations, Carat’s new management has decided against funding future Carat Exchanges,” Mr. Oscar said in an email announcing that the next meeting of the exchange on June 11 has been canceled.

“I want to take this opportunity to thank all of the companies that have presented at The Carat Exchange since its inception in December 2003,” he said.

(Editor: Jensen)