Perion Network

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Perion Network Ltd.
Public
Traded as NASDAQPERI, TASEPERI
Industry Ad-tech, Internet
Founder Yaron Adler, Ofer Adler
Headquarters Holon, Israel
Area served
Worldwide
Key people
CEO: Doron Gerstel
Products CodeFuel, Undertone, MakeMeReach, Smilebox, Incredimail
Revenue Increase US$330.75 million (2014)
Increase US$55.29 million (2014)
Increase US$42.82 million (2014)
Number of employees
400 (as of April 30, 2015)
Website perion.com

Perion is an Israel-based ad-tech company providing engagement and monetization solutions for web and mobile based digital businesses.[1] Their headquarters are in Holon, Israel, with offices in San Francisco, New York City, Boston, Chicago, Washington DC, Los Angeles, Atlanta, Milan, Hamburg, Düsseldorf, Paris and Barcelona.[2][3]

History[edit]

Perion was formerly IncrediMail, an email company founded in 1999 by cousins Yaron and Ofer Adler.[4] Soon after its founding, they raised $3.3 million from private and institutional sources and IPOed on NASDAQ in January 2006. They listed on the Tel Aviv Stock Exchange in 2007.[5]

Perion was managed by its original founders until August 2010, when Josef Mandelbaum was appointed CEO.[6] Mandelbaum had previously been CEO of American Greetings Interactive, the internet branch of American Greetings. In August 2011 Perion acquired the Redmond-based Smilebox for $32 million. Smilebox is an application for creating slideshows and other digital photo albums.[7][8]

In November 2011 they changed the company name to Perion, the Hebrew word for productivity. In November 2012 Perion purchased Israel-based SweetPacks (aka SweetIM) for approximately $41 million.[9][10] SweetPacks produced a variety of downloadable content for everyday use. In January 2014, they acquired Conduit’s ClientConnect business in an all-stock transaction valued at $660 million.[11]

In June 2014, Perion acquired San Francisco based GrowMobile.[12] In February 2015, Perion acquired Paris-based MakeMeReach - a social media advertising platform.[13] After their move to Holon, Perion Network incorporated CSR policies into their corporate strategy. 2% of its net profits is donated and all employees are permitted to spend up to 40 hours per year volunteering in the community.[14]

In December 2015, Perion acquired the digital advertising company Undertone for $180 million.[15] In January 2017, Perion announced the appointment of new CEO Doron Gerstel, effective April 2017, followed by the announcement of Josef Mandelbaum stepping down from the company.[16] Later in the year, the company's unit MakeMeReach was named as a Snapchat Partner.[17]

Products[edit]

Undertone helps brands engage consumers through cross-screen and digital ad experiences. CodeFuel allows developers to generate revenue using search syndication.[3] MakeMeReach is a social media marketing tool to help advertisers grow demand for their brand on Facebook, Twitter, Instagram & Snapchat. The mobile and desktop apps are IncrediMail, an email program and Smilebox, a desktop and mobile app for customizing and animating photos.[18]

See also[edit]

References[edit]

  1. ^ "Perion moves closer to mobile ad tech with new acquisition". The Times of Israel. Retrieved 2017-06-06. 
  2. ^ "Perion Network Ltd.". New York Times
  3. ^ a b "Perion to Participate in ad:tech San Francisco 2015". New York Times. Retrieved May 19, 2015
  4. ^ "IncrediMail - Israel's incredible story". www.jpost.com. Retrieved 2017-06-06. 
  5. ^ "TASE Site - Company: PERION NETWORK - Summary - Share: PERION NETWORK 01095819". 
  6. ^ "Josef Mandelbaum Joins IncrediMail as Chief Executive Officer".  Business Wire. Retrieved July 7, 2010
  7. ^ "Smilebox to be acquired by IncrediMail for up to $40 million".  Aislyn Greene, Puget Sound Business Journal. Retrieved August 1, 2011
  8. ^ "IncrediMail Buys Online Photo Album And Slideshow Creator Smilebox For Up To $40 Million".  Robin Wauters, Tech Crunch. Retrieved August 1, 2011
  9. ^ "SweetPacks Acquisition Call". Nasdaq. Retrieved November 8, 2012
  10. ^ "Holy Emoticons Batman! — Perion Network Acquires SweetPacks For $41M".  Mike Butcher, Tech Crunch. Retrieved November 8, 2012
  11. ^ Editorial, Reuters. "Israel's Perion buys mobile advertising firm Grow Mobile". Reuters UK. Retrieved 2017-06-06. 
  12. ^ "Perion extends Microsoft deal, ups mobile business". David Shamah, Times of Israel. Retrieved August 1, 2014
  13. ^ "Perion moves closer to mobile ad tech with new acquisition". David Shamah, Times of Israel. Retrieved February 12, 2015
  14. ^ "Perion in CR push following merger". Ethical Performance
  15. ^ "Ad tech firm Perion buys Undertone for $180 million in cash". Reuters. 1 December 2015. 
  16. ^ "Perion Networks names Doron Gerstel CEO - Globes English". Globes (in Hebrew). Retrieved 2017-06-06. 
  17. ^ "Perion Network (PERI) 'MakeMeReach' Unit Named a Snapchat (SNAP) Partner". Streetinsider (in Hebrew). Retrieved 2017-06-07. 
  18. ^ "MikiKolko , Perion, Analytics, Mobile Marketing, Israel". India goes digital- Videos