L90 Inc. lost a broad member yesterday when Mark Roah, a founder of the company, resigned for personal reasons.
The Los Angeles-based direct marketing company said it does not intend to fill the vacancy.
In January, L90 Inc. announced that it would be acquired by eUniverse in a cash deal worth up to $55 million. (DIRECT Newsline, Jan. 3). Asked why L90’s board chose to sell, CEO John Bohan answered that it is “difficult for L90 to achieve the scale to make the business model work from a financial perspective.”
A month later, the firm revealed that its financial records were under investigation by the Securities and Exchange Commission.
L90, an Internet advertising firm, offers ad programs, opt-in e-mail, e-mail newsletter and a suite of digital marketing tools. Last year, L90 acquired Novus List Marketing, a Valhalla, NY-based list management company.
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