In an interview with CNBC, Fried said the company hadn’t previously advertised on Google but started doing so since Basecamp would sometimes show up fifth in search results under advertisements, "even though we’re the first organic result and it’s our brand." For instance, when searching for Basecamp on Google, a user might see an ad for Monday.com positioning itself as a Basecamp alternative.
-- Megan Graham, CNBC
I do not typically use Google for search, but here is a search on "basecamp" in Duck Duck Go:
I am not sure why media companies allow targeting a competitor's trademark (aka "conquesting") with ads. Not to mention it is just bad form, for the companies that are doing it. I did just search "basecamp" on Google, and it looks like Monday.com or Google pulled the ad.
BTW, compare the search results and you will see why Duck Duck Go is the awesome.