Yext

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Yext, Inc.
Yext 500.png
Type of businessPublic
Type of site
Software
Traded asNYSE: YEXT
Russell 2000 Component
FoundedNovember 28, 2006
(15 years ago) (2006-11-28)
Headquarters61 Ninth Avenue, New York, New York
Founder(s)Howard Lerman
Brent Metz
Brian Distelburger
Key peopleMichael Walrath (Chairman)
Brian Distelburger (President)
Howard Lerman (CEO)
Steve Cakebread (CFO)
Rob Figueiredo (CTO)
Joshua Grau (CMO)
IndustryInternet
RevenueIncrease US$354.7 million (FY 2021)
Total equityUS$115.8 million
Employees1,200 (2021)
URLyext.com
RegistrationRequired
Current statusActive
Written inJava

Yext is a New York City technology company operating in the area of online 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. Recent figures showed a market capitalization in 2019 of more than $2.0 billion and a revenue of $354.7 million for the 2021 fiscal year.[2]

History[]

Yext was founded in 2006 as a local advertising business.[3] 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.[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.[8] By 2016, the company had $89 million in revenue and had expanded its offices at One Madison Avenue to 95,000 square feet.[9]

In 2016, the company was ranked #60 on the Deloitte Fast 500 North America list.[10]

In 2017, Yext debuted on the New York Stock Exchange.[11] According to Forbes, the company's market capitalization is $2 billion.[3][12]

For the fiscal year 2021, Yext reported a revenue of $354.7 million.[13] Users of Yext's search tool include the U.S. State Department and the World Health Organization.[14] In 2021, Yext had agreements with companies such as Verizon, Marriott, and Samsung.[15] In September 2021, the company launched an artificial intelligence tool for health care organizations.[16] "Find-a-Doc" helps patients identify healthcare professionals by using natural language processing (NLP).[17]

References[]

  1. ^ a b "Products | Control the Knowledge About Your Business". Yext. Retrieved 2017-03-19.
  2. ^ "Yext, Inc. Announces Fourth Quarter and Full Year Fiscal 2019 Results". Yext. 2019-03-06. Retrieved 2020-03-06.
  3. ^ a b "Yext". Forbes. Retrieved 2020-03-06.
  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. ^ "About Yext: The Best Local Search Results". Yext. Retrieved 27 November 2012.
  9. ^ Gregor, Daniel (July 2012). "Yext Takes 40,000 s/f at One Mad". Commercial Observer. Retrieved 30 November 2012.
  10. ^ "2016 Winners by rank" (PDF). Deloitte. Retrieved 16 November 2017.
  11. ^ "Yext - Stock Price History | YEXT". www.macrotrends.net. Retrieved 2020-04-27.
  12. ^ Lynley, Matthew. "Yext looks to help businesses make their information more searchable by machines". TechCrunch. Retrieved 2017-10-13.
  13. ^ "Yext March 2021 8-K". Retrieved 2021-03-30.
  14. ^ "Search tech firm unveils public sector push". Washington Technology. August 6, 2021. Retrieved August 29, 2021.
  15. ^ Young, Jabari (2021-07-01). "Former NBA star Shane Battier joins board of software company Yext and wants to build his business away from sports". CNBC. Retrieved 2021-08-29.
  16. ^ "Yext's Find-a-Doc streamlines finding a doctor with AI". IT PRO. Retrieved 2021-10-01.
  17. ^ "Roundup: Moodbeam launches direct entry app, Yext AI search tool available to EMEA healthcare professionals and more briefs". MobiHealthNews. 2021-09-10. Retrieved 2021-10-01.

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

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