Yext

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Yext, Inc.
Yext Wordmark.svg
Type of business Public
Type of site
Digital Knowledge Engine
Traded as NYSEYEXT
Russell 2000 Component
Founded November 28, 2006
(11 years ago)
 (2006-11-28)
Headquarters 1 Madison Ave 5th Floor, New York, NY 10010
Founder(s) Howard Lerman, Brent Metz, Brian Distelburger
Chairman Michael Walrath
President Brian Distelburger
CEO Howard Lerman
Industry Internet
Revenue Increase US$170.2 million (FY 2018)
Total equity US$115.8 million
Employees 930 (July 2018)
Website yext.com
Registration Required
Current status Active
Written in Java

Yext is a New York City technology company that helps businesses manage the public facts about their brands that they want consumers to see online.[1] Businesses use Yext to update the public facing facts about their brands across Yext's network of maps, apps, search engines, intelligent GPS systems, digital assistants, vertical directories, and social networks from a cloud-based platform called the "Yext Knowledge Engine".[1] The company was founded in 2006 by Howard Lerman, Brian Distelburger, and Brent Metz.[2] Yext's portfolio of customers range from small businesses to Fortune 500 companies.[3]

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.[4]

In August 2012, the company sold its pay-per-call business to IAC's CityGrid Media in order to focus on listings. Lerman later explained the sale as part of his investment strategy: "You should only take big bets in technology."[5][6] By that time, Yext had raised $65.8 million in funding and handled 950,000 updates for 50,000 businesses.[7]

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.[8] 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.[9]

Yext filed for an initial public offering on March 13, 2017.[10]

As of April 2017, the company's market capitalization is said to be more than $1.1 billion, according to the Forbes report.[11][12]

For fiscal year 2018, Yext's revenue was $170.2 million.[13]

Awards and reception[edit]

Yext has been featured on the Inc. 5000 List (2015, 2016),[14] Forbes' Most Promising Companies List (2014 and 2015),[15][16] Fortune's Great Places to Work List (2014, 2015, 2016, 2017),[17][18] Crain's Fast 50 List (2014 and 2015),[19][20] and CNBC's Top 50 Disruptors List (2014).[21] Yext was also named in Fortune’s 2016 list of best workplaces for millennials[22] and Fortune's 2017 list of best places to work in technology.[23] In July 2017, Yext received a silver Best in Biz International Award for Enterprise Product of the Year in the Software Category for The Yext Knowledge Engine.[24]

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. ^ "Yext Hits $124MM in Revenues in 2016-17 - Local SEO Guide". Local SEO Guide. 2017-03-20. Retrieved 2018-03-09.
  4. ^ Schonfeld, Erick (October 1, 2009). "The $25 Million Demo. Yext Scores A Big Round From IVP After TechCrunch50 Debut". TechCrunch. Retrieved 27 November 2012.
  5. ^ Kim, Ryan (August 20, 2012). "Yext sells pay-per-call biz to CityGrid, focuses on local business listings". GigaOM.
  6. ^ Bruder, Jessica (December 19, 2012). "A Wave of Start-Ups Helps Small Companies Outsource Their Tasks". New York Times. Retrieved 20 December 2012.
  7. ^ Ha, Anthony (June 12, 2012). "Yext Raises $27M More At A $270M Valuation". TechCrunch. Retrieved 27 November 2012.
  8. ^ Gregor, Daniel (July 2012). "Yext Takes 40,000 s/f at One Mad". Commercial Observer. Retrieved 30 November 2012.
  9. ^ "2016 Winners by rank" (PDF). Deloitte. Retrieved 16 November 2017.
  10. ^ "SEC: Yext, Inc". sec.gov. Retrieved March 13, 2017.
  11. ^ Lynley, Matthew. "Yext looks to help businesses make their information more searchable by machines". TechCrunch. Retrieved 2017-10-13.
  12. ^ Konrad, Alex. "Yext Joins $1B Club With Successful IPO, Continuing Software's Hot Market Run". Forbes. Retrieved 2017-10-13.
  13. ^ "Yext, Inc. Announces Fourth Quarter and Full Year Fiscal 2018 Results".
  14. ^ "Inc. 5000 2015: The Full List | Inc.com". www.inc.com. Retrieved 2015-11-13.
  15. ^ "America's Most Promising Companies". Forbes. Retrieved 2015-11-13.
  16. ^ "America's Most Promising Companies". Forbes. Retrieved 2015-11-13.
  17. ^ "50 Best Small and Medium-Size Companies to Work For". Fortune. Retrieved 2015-11-13.
  18. ^ "Yext". Fortune. Retrieved 2015-11-13.
  19. ^ "No. 14 Yext - 2014 Fast 50 | Crain's New York Business". Crain's New York Business. Retrieved 2015-11-13.
  20. ^ "Crain's New York Business - Fast 50". Crain's New York Business. Retrieved 2015-11-13.
  21. ^ "The next generation of the Yellow Pages". CNBC. Retrieved 2015-11-13.
  22. ^ "Yext". Fortune. 2016-06-28. Retrieved 2016-11-15.
  23. ^ "Named To Fortune's Best Workplaces in Technology List". Yext. 2017-01-17. Retrieved 2017-03-19.
  24. ^ "2017 International winners' news - Best in Biz Awards International". intl.bestinbizawards.com. Retrieved 2017-09-07.

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