Digital River

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Digital River
Type Public NASDAQDRIV
Industry e-commerce
Founded 1994
Founder(s) Joel Ronning (former CEO)
Headquarters Minnetonka, Minnesota, United States
Area served global
Key people

Dave Dobson (CEO)
Ted Cahall (COO)

Stefan Schulz (CFO)
Products digital software delivery
Revenue $370.5 million[1]
Employees 1,239[2]
Website www.digitalriver.com

Digital River Digital River is a public company that develops Commerce-as-a-Service solutions. Founded in 1994, the company provides e-commerce, payments and marketing services to business-to-business (B2B) and business-to-consumer (B2C) digital product and cloud service companies as well as branded manufacturers across the globe.

The company’s services include responsive and adaptive site design, development and hosting of commerce stores, merchandising, order management, fraud prevention screening, processing of popular local online payment methods, transacting in global currencies, export controls and management, tax compliance and management, digital product delivery via download, integration with third-party agencies for physical product fulfillment, multi-lingual customer service, subscription management, and online marketing services, including email marketing, paid search program management, website optimization, web analytics and reporting, among other programs.

Digital River is headquartered in Minnetonka, Minnesota with more than 30 offices around the world, including Seattle, Washington; Aliso Viejo, San Diego and San Francisco, California; Victoria, BC, Canada; Cologne, Germany; London, England; Shannon, Ireland; Stockholm, Sweden; Luxembourg; Moscow, Russia; Shanghai and Beijing, China; São Paulo, Brazil; Taipei, Republic of China (Taiwan) and Tokyo, Japan.

On January 10, 2013, Digital River announced the acquisition of LML Payment Systems Inc. Based in British Columbia, LML Payment Systems is a leading provider of electronic payment processing, risk management and authentication services. [3]

On September 5, 2007, Digital River announced the acquisition of Netgiro Systems AB, a leading European payment service provider based in Sweden. [4]

In June 2006 Digital River acquired MindVision, Inc, including both the Installer VISE and eSellerate business units.[5][6]

Company operations[edit]

Clients include Acer, Adobe Systems,[7] ArenaNet, [8] Autodesk, AVAST, Expedia.com, HarperCollins, [9] Jawbone, Kaspersky Lab, Lenovo, Logitech, Mattel, McAfee, Microsoft,[10] Nuance, Panasonic, Razer USA, Samsung, SanDisk, Seagate, Siemens, [11] Skullcandy, Spotify, Square Enix, TechSmith, [12] Thunder Tiger, [13] Ticketmaster, Trend Micro, Ubisoft, Vistaprint, VMware, Western Digital and Wix.com.[14]

Digital River has a history of acquiring other companies in the e-commerce (including digital software delivery) industry.[15]

It has acquired:

  • RegNow
  • RegNet
  • FileBasket
  • SiliconRealms
  • RegSoft
  • Simtel
  • Digibuy
  • CCNow (2002)[16]
  • Freemerchant.com (discontinued 15 January 2008)[17]
  • NetSales
  • Emetrix
  • Journey Education Marketing
  • Qwerks
  • FileKicker
  • element5
  • MindVision, Inc
  • eSellerate
  • ShareIt
  • THINK Subscription (2008)[18]
  • SWREG (2005)[19]
  • Fatfoogoo (2010)[20]
  • BlueHornet Networks (2004)

Divestitures[edit]

Security breach[edit]

A security breach in 2010 resulted in a list of nearly 200,000 customer's data being stolen.[22] A lawsuit followed by Digital River.[23]

CEO History[edit]

Joel Ronning was CEO from the company's founding until stepping down in November 2012.[24] In June 2013, Ronning was ranked as the most over paid CEO at a public company in Minnesota[25] despite not having been CEO since November of the previous year. In February 2013, Dave Dobson was named CEO.[26]

References[edit]

  1. ^ "Digital River Reports Fourth Quarter and Full Year 2013 Financial Results". Digital River. 2014. Retrieved 2014-02-05. 
  2. ^ "2009 Annual Report". Digital River. 2009. Retrieved 2007-12-01. 
  3. ^ http://www.digitalriver.com/our-company/newsroom/press-release/digital-river-completes-acquisition-of-lml-payment-systems/
  4. ^ http://www.businesswire.com/news/home/20070905006208/en/Digital-River-Acquires-Netgiro-Systems-AB#.U0Dqr_ldU70
  5. ^ "eSellerate Joins the Digital River Team". RegMatch. 2006. Retrieved 2011-04-24. 
  6. ^ Daniel Jalkut (2006). "Take the Money and Run". Red Sweater. Retrieved 2011-04-24. 
  7. ^ http://corporate.digitalriver.com/store/digriv/PressReleases/sectionName.company/subSectionName.newsEvents/pr.208332600
  8. ^ http://www.digitalriver.com/our-company/newsroom/press-release/digital-river-powers-global-e-commerce-operations-for-guild-wars-2-arenanets-best-selling-mmo-game/
  9. ^ http://www.digitalriver.com/our-company/newsroom/press-release/harpercollins-selects-digital-river-to-manage-global-commerce-and-online-payments-for-consumer-ebook-sales-of-its-c-s-lewis-titles-across-the-u-s-and-u-k/
  10. ^ http://corporate.digitalriver.com/store/digriv/PressReleases/sectionName.company/subSectionName.newsEvents/pr.208316700
  11. ^ http://www.digitalriver.com/our-company/newsroom/press-release/siemens-selects-digital-river-smartchannel-solution-to-manage-subscription-sales-of-its-solid-edge-software/
  12. ^ http://www.digitalriver.com/our-company/newsroom/press-release/techsmith-makers-of-snagit-and-camtasia-expands-global-commerce-relationship-with-digital-river/
  13. ^ http://www.digitalriver.com/our-company/newsroom/press-release/digital-river-selected-by-thunder-tiger-to-establish-global-e-commerce-presence/
  14. ^ http://phx.corporate-ir.net/phoenix.zhtml?c=94762&p=irol-newsArticle&ID=1902774&highlight=
  15. ^ Sharon Housley (2004). "Digital River's Destructive Acquisition Strategy". Security Pro News. Retrieved 2011-04-24. 
  16. ^ Kurt Peters (2002). "Digital River Acquires Certain Assets of CCNow.com". Internet Retailer. Retrieved 2013-02-02. 
  17. ^ The FreeMerchant Team (2008). "Freemerchant.com". Digital River, Inc. Retrieved 2013-02-02. 
  18. ^ "Digital River introduces a new feature for online merchants". ecommerce-journal. 2009. Retrieved 2009-01-29. 
  19. ^ "SWREG Inc.: Private Company Information". Bloomberg Businessweek. 2012. Retrieved 2013-02-02. 
  20. ^ Eric Savitz (2010). "Digital River Acquires Fatfoogoo". Barrons. Retrieved 2011-04-24. 
  21. ^ Snorrason Holdings (2012). "Snorrason Holdings to Acquire CCNow from Digital River". PRWeb. Retrieved 2012-12-31. 
  22. ^ Dan Browning (2010). "Digital River sues over data breach". Star Tribune. Retrieved 2011-04-24. 
  23. ^ Tim Wilson (2010). "Digital River Sues Over Theft Of Data On Nearly 200,000 Customers". Darkreading. Retrieved 2011-04-24. 
  24. ^ http://www.startribune.com/business/176887141.html
  25. ^ http://www.bizjournals.com/twincities/news/2013/07/26/overpaid-ceos.html
  26. ^ http://www.businesswire.com/news/home/20130228006533/en/Digital-River-Names-David-C.-Dobson-Chief

External links[edit]