Yext

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Yext, Inc.
Yext 500.png
Type of businessPublic
Type of site
Software
Traded asNYSEYEXT
Russell 2000 Component
FoundedNovember 28, 2006
(13 years ago)
 (2006-11-28)
Headquarters1 Madison Ave 5th Floor, New York, NY 10010
Founder(s)Howard Lerman
Brent Metz
Brian Distelburger
Key peopleMichael Walrath (Chairman)
Brian Distelburger (President)
Howard Lerman (CEO)
Steve Cakebread (CFO)
Tom Dixon (CTO)
Jeffrey Rohrs (CMO)
IndustryInternet
RevenueIncrease US$170.2 million (FY 2018)
Total equityUS$115.8 million
Employees930 (July 2018)
Websiteyext.com
RegistrationRequired
Current statusActive
Written inJava

Yext is a New York City technology company operating in the area of on-line brand management.[1] It offers brand updates using its cloud-based network of apps, search engines and other facilities.[1] The company was founded in 2006 by Howard Lerman, Brian Distelburger, and Brent Metz.[2] Recent figures showed a market capitalization in 2019 of more than $2.0 billion and a revenue of $228.28 million for the 2019 fiscal year.

History[edit]

Yext was founded in 2006 as a local advertising business. By 2009, it was generating $20 million in revenue after switching its business model to generate leads for its customers through a pay-per-call model.[3]

In August 2012, the company sold its pay-per-call business to IAC's CityGrid Media in order to focus on listings.[4][5] By that time, Yext had raised $65.8 million in funding and handled 950,000 updates for 50,000 businesses.[6]

Investors included Sutter Hill Ventures, Institutional Venture Partners, and WGI investments.[2] By 2016, the company had $89 million in revenue and had expanded its offices at One Madison Avenue to 95,000 square feet.[7] Yext's Knowledge Engine now offers a suite of products, expanding the company's services beyond just business listings.[1]

In 2016, the company was ranked #60 on the Deloitte Fast 500 North America list.[8]

Yext filed for an initial public offering on March 13, 2017.[9]

As of April 2017, the company's market capitalization is said to be more than $1.1 billion, according to the Forbes report.[10]

For fiscal year 2018, Yext's revenue was $170.2 million.[11]

References[edit]

  1. ^ a b c "Products | Control the Knowledge About Your Business". Yext. Retrieved 2017-03-19.
  2. ^ a b "About Yext: The Best Local Search Results". Yext. Retrieved 27 November 2012.
  3. ^ Schonfeld, Erick (October 1, 2009). "The $25 Million Demo. Yext Scores A Big Round From IVP After TechCrunch50 Debut". TechCrunch. Retrieved 27 November 2012.
  4. ^ Kim, Ryan (August 20, 2012). "Yext sells pay-per-call biz to CityGrid, focuses on local business listings". GigaOM.
  5. ^ Bruder, Jessica (December 19, 2012). "A Wave of Start-Ups Helps Small Companies Outsource Their Tasks". New York Times. Retrieved 20 December 2012.
  6. ^ Ha, Anthony (June 12, 2012). "Yext Raises $27M More At A $270M Valuation". TechCrunch. Retrieved 27 November 2012.
  7. ^ Gregor, Daniel (July 2012). "Yext Takes 40,000 s/f at One Mad". Commercial Observer. Retrieved 30 November 2012.
  8. ^ "2016 Winners by rank" (PDF). Deloitte. Retrieved 16 November 2017.
  9. ^ "SEC: Yext, Inc". sec.gov. Retrieved March 13, 2017.
  10. ^ Lynley, Matthew. "Yext looks to help businesses make their information more searchable by machines". TechCrunch. Retrieved 2017-10-13.
  11. ^ "Yext, Inc. Announces Fourth Quarter and Full Year Fiscal 2018 Results".

Coordinates: 40°44′29″N 73°59′15″W / 40.74139°N 73.98750°W / 40.74139; -73.98750