MediaMath Founder Joe Zawadzki launches 'Project Phoenix' to buy back bankrupt company

📆 7/24/2023 2:34 PM

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📆 7/24/2023 2:34 PM
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MediaMath founder Joe Zawadzki's 'Project Phoenix' looks to raise at least $10 million to help buy back the bankrupt adtech company

"Project Phoenix" is seeking to raise at least $10 million in a SAFE financing.MediaMath founder and former CEO Joe Zawadzki is pressing ahead with hisby forming a syndicate of investors that is calling itself"Project Phoenix," according to people familiar with the matter.

Project Phoenix, registered as Phoenix Project Acquisition Inc., is raising the investment with a"post-money valuation cap" of $20 million — the maximum price at which investors can convert their SAFE investment notes into equity.

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