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Perion Network

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Perion Network Ltd.
Company typePublic
Nasdaq: PERI, TASE: PERI
IndustryAd-tech, Internet
FounderYaron Adler, Ofer Adler
HeadquartersHolon, Israel
Area served
Worldwide
Key people
Doron Gerstel (CEO)
Ophir Yakovian (CFO)[1]
Mike Glover (GM)[2]
ProductsCodeFuel, Undertone, MakeMeReach, Smilebox, Incredimail
RevenueIncrease 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)
Websiteperion.com

Perion is an Israel-based ad-tech company providing engagement and monetization solutions for web and mobile based digital businesses.[3] 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.[4][5]

History

Perion was formerly IncrediMail, an email company founded in 1999 by cousins Yaron and Ofer Adler.[6] 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.[7]

Perion was managed by its original founders until August 2010, when Josef Mandelbaum was appointed CEO.[8] 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.[9][10]

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.[11][12] 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.[13]

In June 2014, Perion acquired San Francisco based GrowMobile.[14] In February 2015, Perion acquired Paris-based MakeMeReach - a social media advertising platform.[15] 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.[16]

In December 2015, Perion acquired the digital advertising company Undertone for $180 million.[17][18] 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.[19] Later in the year, the company's unit MakeMeReach was named as a Snapchat Partner.[20]

Products

Undertone helps brands engage consumers through cross-screen and digital ad experiences. CodeFuel allows developers to generate revenue using search syndication.[5] 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.[21]

See also

References

  1. ^ "Yacov Kaufman Steps Down as CFO of Perion; Seasoned Financial Executive Ophir Yakovian to Join Perion as Its CF". Retrieved 2017-07-03.
  2. ^ "Perion Appoints Mike Glover, Former President of Infospace, as General Manager of Search Business Unit". Retrieved 2017-07-05.
  3. ^ "Perion moves closer to mobile ad tech with new acquisition". The Times of Israel. Retrieved 2017-06-06.
  4. ^ "Perion Network Ltd".New York Times
  5. ^ a b "Perion to Participate in ad:tech San Francisco 2015".New York Times. Retrieved May 19, 2015
  6. ^ "IncrediMail - Israel's incredible story". www.jpost.com. Retrieved 2017-06-06.
  7. ^ "TASE Site - Company: PERION NETWORK - Summary - Share: PERION NETWORK 01095819".
  8. ^ "Josef Mandelbaum Joins IncrediMail as Chief Executive Officer". Business Wire. Retrieved July 7, 2010
  9. ^ "Smilebox to be acquired by IncrediMail for up to $40 million". Aislyn Greene, Puget Sound Business Journal. Retrieved August 1, 2011
  10. ^ "IncrediMail Buys Online Photo Album And Slideshow Creator Smilebox For Up To $40 Million". Robin Wauters, Tech Crunch. Retrieved August 1, 2011
  11. ^ "SweetPacks Acquisition Call".Nasdaq. Retrieved November 8, 2012
  12. ^ "Holy Emoticons Batman! — Perion Network Acquires SweetPacks For $41M". Mike Butcher, Tech Crunch. Retrieved November 8, 2012
  13. ^ Editorial, Reuters. "Israel's Perion buys mobile advertising firm Grow Mobile". Reuters UK. Retrieved 2017-06-06. {{cite news}}: |first= has generic name (help)
  14. ^ "Perion extends Microsoft deal, ups mobile business".David Shamah, Times of Israel. Retrieved August 1, 2014
  15. ^ "Perion moves closer to mobile ad tech with new acquisition".David Shamah, Times of Israel. Retrieved February 12, 2015
  16. ^ "Perion in CR push following merger".Ethical Performance
  17. ^ "Ad tech firm Perion buys Undertone for $180 million in cash". Reuters. 1 December 2015.
  18. ^ "Perion's 'Undertone' Division Announces Collaboration with The Associated Press for 'First-To-Market' Opportunity on Top 25 Sports Poll" (PDF).
  19. ^ "Perion Networks names Doron Gerstel CEO - Globes English". Globes (in Hebrew). Retrieved 2017-06-06.
  20. ^ "Perion Network (PERI) 'MakeMeReach' Unit Named a Snapchat (SNAP) Partner". Streetinsider (in Hebrew). Retrieved 2017-06-07.
  21. ^ "MikiKolko, Perion, Analytics, Mobile Marketing, Israel".India goes digital- Videos
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