Perion Network

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Perion Network Ltd.
TypePublic
Nasdaq: PERI, TASE: PERI
IndustryInternet
FounderYaron Adler
Ofer Adler
HeadquartersHolon, Israel
Area served
Worldwide
Key people
Doron Gerstel (CEO)
Maoz Sigron (CFO)
RevenueIncrease US$328.06 million (2020)[1]
Decrease US$12.25 million (2020)[1]
Decrease US$10.23 million (2020)[1]
Number of employees
500 (as of March 14, 2021) [2]
Websiteperion.com

Perion is an Israel-based technology company that provides digital advertising products and services.[3] It is headquartered in Holon, Israel, with offices in Tel Aviv, Paris, New York, London, Chicago, Boston, Kiev, Barcelona, and Seattle.[4][5][6]

History[]

Perion was formerly IncrediMail, an email company founded in 1999 by cousins Yaron and Ofer Adler.[7] Soon after its founding, they raised $3.3 million from private and institutional sources. The company created an IPO on NASDAQ in January 2006 and listed on the Tel Aviv Stock Exchange in 2007.[8]

Perion was managed by its original founders until August 2010, when Josef Mandelbaum was appointed CEO.[9] 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, e-cards, invitations and other digital photo albums.[10][11]

In November 2011, the company name changed to Perion, the Hebrew word for "productivity".[12]

In November 2012, Perion purchased Israel-based SweetPacks (or SweetIM) for approximately $41 million.[13][14] SweetPacks produced a variety of downloadable content for everyday use.

In January 2014, Perion acquired Conduit's ClientConnect business in an all-stock transaction valued at $660 million.[15]

In June 2014, the firm acquired San Francisco-based Grow Mobile as part of a repositioning of the company to focus on business-to-business services.[16]

In December 2015, the firm acquired the digital advertising company Undertone for $180 million.[17][18]

In September 2016, Josef Mandelbaum announced that he would step down as CEO.[19]

In April 2017, Doron Gerstel became the CEO.[20] Upon his arrival at Perion, Gerstel took steps to reduce the company’s debt and improve “operational efficiency”.[21] The company also expanded its digital television advertising business.[22]

In January 2020, Perion acquired Content IQ, a New York-based startup that optimizes digital advertising by doing tracking and analytics without cookies.[23]

In July 2020, Perion bought the assets of a digital publisher-focused ad-tech company called Pub Ocean, which it integrated into Content IQ.[24]

See also[]

References[]

  1. ^ a b c "Perion Network Ltd PERI.OQ". Reuters. Retrieved 17 June 2021.
  2. ^ Habib-Valdhorn, Shiri (14 March 2021). "770% of the downturn: Perion is supported by the recovery of the digital advertising market and technological hype". Globes (in Hebrew). Retrieved 8 July 2021.
  3. ^ Habib-Valdhorn, Shiri (14 March 2021). "Perion Network: Google changes won't harm us". Globes. Retrieved 6 May 2021.
  4. ^ "Perion Network Ltd". The New York Times.New York Times
  5. ^ "Perion to Participate in ad:tech San Francisco 2015".New York Times. Retrieved May 19, 2015
  6. ^ "HOME PAGE". Perion. Retrieved 13 January 2022.
  7. ^ "IncrediMail - Israel's incredible story". www.jpost.com. Retrieved 2017-06-06.
  8. ^ "TASE Site - Company: PERION NETWORK - Summary - Share: PERION NETWORK 01095819".
  9. ^ "Josef Mandelbaum Joins IncrediMail as Chief Executive Officer". Business Wire. Retrieved July 7, 2010
  10. ^ "Smilebox to be acquired by IncrediMail for up to $40 million". Aislyn Greene, Puget Sound Business Journal. Retrieved August 1, 2011
  11. ^ "IncrediMail Buys Online Photo Album And Slideshow Creator Smilebox For Up To $40 Million". Robin Wauters, Tech Crunch. Retrieved August 1, 2011
  12. ^ Tsipori, Tali (18 September 2011). "IncrediMail to change name to Perion Interactive - Globes". Globes (in Hebrew). Retrieved 13 January 2022.
  13. ^ "SweetPacks Acquisition Call".Nasdaq. Retrieved November 8, 2012
  14. ^ "Holy Emoticons Batman! — Perion Network Acquires SweetPacks For $41M". Mike Butcher, Tech Crunch. Retrieved November 8, 2012
  15. ^ Reuters Editorial. "Israel's Perion buys mobile advertising firm Grow Mobile". Reuters UK. Retrieved 2017-06-06.
  16. ^ "Perion Buys Grow Mobile For Up To $42M To Build Out Its Marketing Business".Ingrid Lunden, TechCrunch. Retrieved May 6, 2021
  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. ^ "Josef Mandelbaum to step down as Perion CEO".Shiri Habib-Valdhorn, Globes. Retrieved May 6, 2021
  20. ^ "Perion Networks names Doron Gerstel CEO - Globes English". Globes (in Hebrew). Retrieved 2017-06-06.
  21. ^ Habib-Valdhorn, Shiri (14 March 2021). "Perion Network: Google changes won't harm us". Globes. Retrieved 6 May 2021.
  22. ^ "Link-up with TVadSync boosts Perion Network".Globes correspondent, Globes. Retrieved May 6, 2021
  23. ^ "Perion Network is paying up to $73 million for New York and Tel Aviv-based Content IQ".Globes correspondent, Globes. Retrieved May 6, 2021
  24. ^ "Perion Network will pay up to $22 million cash for Pub Ocean, which it says will be immediately accretive".Globes correspondent, Globes. Retrieved May 6, 2021
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