UPDATE: Several hours after this post ran, Faction Media founder Dave Greves confirmed that the business has closed and provided the following statement.
Faction Media closed its doors this week. That is a hard thing to comprehend for our team, but we are proud of our 12-year legacy of servicing clients, creating jobs and helping to establish Demand Generation as a marketing discipline for our business-to-business clients.
Faction was started with a modest investment and the idea that B-to-B clients could realize the promise of marketing’s contribution to revenue by aligning both sales and marketing creating opportunities that challenged conventional practices.
And, we proved that theory for over a decade. With amazing people and committed clients we built a multi-million dollar agency and helped define a marketing category. We’ve launched the careers of many modern marketers, grown businesses, employed individuals and provided for families. It has been a privilege to serve and provide career building opportunities for them. We are incredibly proud to have served our community in this manner.
But we know that the full legacy of this endeavor has not been realized yet and will almost certainly be best reflected in what we do next. In this industry change is not easy and often requires closing one door before we can open another one. And in this business, every agency is the product of what came before and the basis for what comes next. We are excited about what’s next. This is more of an evolution than an ending.
Thank you to all of our clients for their partnership and support. Thank you most of all to the employees who worked tirelessly for Faction and believed in our mission. This decision had been hardest on them and was not taken lightly by our management team. They are a talented, creative and determined group of professionals. Their future is bright.
Denver, Colorado-based agency Faction Media, which opened in 2005 and specialized in “demand creation” for B2B clients, closed this week after 12 years in business.
According to two parties familiar with the matter, the company is filing for bankruptcy after losing multiple unspecified accounts. According to its LinkedIn page, it most recently employed more than 50.
An email to Faction’s PR line bounced back, and calls to the company’s general number and those of its executives went unanswered today.
Faction, which called itself “the demand generation agency,” created campaigns for clients such as Hitachi and Avaya and won a series of local awards during its 12-year tenure including, most recently, from the Business Marketing Association of Colorado.
Earlier this year, another longstanding Denver agency called it quits as Factory Design Labs shut its doors after more than two decades in business.