MarketSmart Interactive, once one of the fastest-growing companies in the search engine marketing space, has shut down, The News & Observer reported Tuesday.

The shutdown also was confirmed to WRAL Local Tech Wire.

The company shut its doors on Friday, laying off 20 employees. Another nine were assigned to a sister company, MarketSmart Advertising, an ad agency based in Raleigh.

MarketSmart Interactive was initially known as WebSourced.

The two companies are part of a conglomerate operated by Think Partnership, which is based in Florida.