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Perion Network

From Wikipedia, the free encyclopedia

Perion
FormerlyIncrediMail (1999–2011)
TypePublic
Nasdaq: PERI, TASE: PERI
IndustryInternet
FounderYaron Adler
Ofer Adler
Headquarters
Tel Aviv Edit this on Wikidata
,
Israel Edit this on Wikidata
Area served
Worldwide
Key peopleTal Jacobson (CEO)
Elad Tzubery (CFO)
ProductsPerion One Omnichannel Advertising Platform
RevenueIncrease US$ 743.16 million (2023)
Increase US$117.41 million (2023)
Number of employees
420 (as of June 2024)[1]
Websitewww.perion.com Edit this on Wikidata

Perion Network Ltd. is a technology company that provides digital advertising products and services.[2] It is headquartered in Tel Aviv, Israel, with offices in Tel Aviv, New York, Los Angeles, London, Chicago, Boston, Atlanta, Toronto, Montréal and Kyiv.[3]

History

[edit]

1999–2011: IncrediMail

[edit]

Perion was founded in 1999 by cousins Yaron and Ofer Adler.[4][5] The company raised about US$270,000 in initial capital in late 1999 and $3 million in April 2000. Its product, also called IncrediMail, was a free email client that allowed users to add animations, sound effects, backgrounds and emoticons to their messages.[6]

In January 2006, IncrediMail raised $18.75 million in an initial public offering and was listed on Nasdaq.[4][7] In 2007, it was listed on the Tel Aviv Stock Exchange.[8] In February 2008, IncrediMail announced that Ofer Adler would succeed Yaron Adler as chief executive, with Yaron Adler becoming president.[9]

In August 2010, Josef Mandelbaum, previously chief executive of American Greetings' intellectual property unit, became CEO, and Ofer Adler remained with the company as chief product officer.[10][11]

In August 2011, Perion acquired the Redmond-based Smilebox for $25 million.[12] Smilebox was an application designed for creating slideshows, e-cards, invitations, and other digital photo albums.[13][14]

2011–present: Perion

[edit]

In November 2011, the company was renamed as Perion, deriving its name from the Hebrew word for productivity.[15]

In November 2012, Perion acquired Israel-based SweetPacks (or SweetIM), for approximately $41 million.[16][17] SweetPacks specialized in producing a range of downloadable content for daily use.[18]

In January 2014, Perion took over Conduit's ClientConnect business in an all-stock transaction valued at $660 million.[19][20][21] Later, in June 2014, Perion acquired San Francisco-based Grow Mobile as it repositioned itself to emphasize business-to-business services.[22][23][24] After the acquisition, Grow Mobile was integrated into Perion Lightspeed, a platform that serves the advertising requirements of mobile app developers.[25] In August 2014, Perion extended its agreement with Microsoft's Bing search service, powering search in Perion products for desktop and mobile platforms.[26]

In February 2015, Perion acquired MakeMeReach, a platform that helped app developers with social media advertising, for $15 million.[27][28] In December 2015, Perion acquired the digital advertising firm, Undertone, for $180 million.[29][30]

In 2016, Ronen Shilo, a co-founder of Conduit, campaigned for changes to the company's board and management.[31][32] In September 2016, Perion announced that Mandelbaum would step down,[33][34] and in January 2017 it named Doron Gerstel, a former chief executive of Zend Technologies and Panaya, as CEO, effective April 2017.[35] Under his leadership, Perion took initiatives to minimize the company's debt and enhance its "operational efficiency".[36] This period also saw the company broaden its reach into the digital television advertising sector.[37]

In January 2019, Perion acquired Septa Communications, a Kyiv-based AI company that provided ad performance analytics service, for $3.5 million.[38][39]

By January 2020, Perion acquired Content IQ, a New York-based startup that focused on optimizing digital advertising through cookie-less tracking and analytics.[40] Later, in July 2020, Perion acquired assets from a digital publisher-centric ad-tech firm, Pub Ocean, and subsequently integrated it into Content IQ.[41]

In April 2021, Perion acquired a Tel Aviv-based video monetization platform, Vidazoo, for $93.5 million.[42][43] In September 2021, MakeMeReach, a subsidiary of Perion, formed a partnership with Pinterest, allowing ad purchasing and data integration from major social platforms and Google.[44] Perion raised $57.4 million in a share offering in January 2021 and $156.6 million in December 2021.[45][46]

In February 2023, Perion announced that Tal Jacobson, general manager of CodeFuel, would succeed Gerstel as CEO on August 1, 2023.[47] In December 2023, it acquired Hivestack, a Montreal-based digital out-of-home advertising technology company for $100 million in cash and up to $25 million in additional payments.[48][49]

In June 2024, Perion announced significant layoffs as part of a cost-cutting initiative. The decision came after Microsoft's further actions to completely remove several advertisers from its Bing network, which severely harmed Perion's revenues. As a result, Perion decided to eliminate 35 jobs, primarily within its search division in Israel. This reduction represented 15% of the company's Israeli workforce, which numbered 230 employees out of a total of 650 globally.[50]

In February 2025, Perion announced Perion One, a plan to combine its businesses, including Undertone, Hivestack, Vidazoo and CodeFuel, into a single advertising platform based on Hivestack's technology.[51][52] In May 2025, it acquired Greenbids, a developer of AI-based custom bidding algorithms for digital advertising campaigns, for up to $65 million, and rebranded its product as Perion Algo.[53]

In August 2026, Perion acquired Premier Retail Networks (PRN), a North American in-store retail media network, from Stratacache for up to $12 million in cash.[54][55]

See also

[edit]

References

[edit]
  1. ↑ 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.
  2. ↑ Shamah, David. "Perion extends Microsoft deal, ups mobile business". Times of Israel.
  3. ↑ Rubin, Ben Fox (3 March 2014). "Perion Sees Soaring 2014 Earnings Following Merger". Wall Street Journal – via WSJ.
  4. 1 2 "IncrediMail - Israel's incredible story". The Jerusalem Post | JPost.com. 30 August 2009.
  5. ↑ "IncrediMail to forge ahead on new products - Globes". en.globes.co.il. 10 August 2009.
  6. ↑ Shamah, David (12 February 2015). "Perion moves closer to mobile ad tech with new acquisition". The Times of Israel.
  7. ↑ "Israel's IncrediMail raises $18.8m in Nasdaq IPO - Globes". en.globes.co.il. 31 January 2006.
  8. ↑ Shahaf, Tal (31 January 2025). "זו אחת מחברות ה-AI כחול-לבן הכי מעניינות - אז למה המשקיעים סקפטיים?" [This is one of the most interesting Israeli AI companies – so why are investors skeptical?]. Ynet (in Hebrew).
  9. ↑ Wolberg, Erez (6 February 2008). "שלום לבן-דודי: עופר אדלר יחליף את ירון אדלר כמנכ"ל אינקרדימייל" [Ofer Adler to replace his cousin Yaron Adler as IncrediMail CEO]. Globes (in Hebrew).
  10. ↑ Tsipori, Tali (14 October 2010). "IncrediMail trims workforce". Globes.
  11. ↑ "Josef Mandelbaum, Nili Capital Partners: Profile and Biography". Bloomberg.com.
  12. ↑ "Incredimail buys photo-sharing co Smilebox for $25m - Globes". en.globes.co.il. 2 August 2011.
  13. ↑ "Smilebox to be acquired by IncrediMail for up to $40 million - Puget Sound Business Journal". 3 July 2012. Archived from the original on 3 July 2012. Retrieved 26 December 2023.
  14. ↑ "IncrediMail Buys Online Photo Album And Slideshow Creator Smilebox For Up To $40 Million". 1 August 2011.
  15. ↑ "IncrediMail to change name to Perion Interactive - Globes". en.globes.co.il. 18 September 2011.
  16. ↑ "Perion buys SweetPacks for up to $41m - Globes". en.globes.co.il. 8 November 2012.
  17. ↑ "חברת Perion רכשה את SweetIM ב-41 מיליון דולר". כלכליסט - www.calcalist.co.il. 8 November 2012.
  18. ↑ Butcher, Mike (8 November 2012). "Holy Emoticons Batman! — Perion Network Acquires SweetPacks For $41M".
  19. ↑ "Perion Completes Acquisition of Conduit's ClientConnect". Haaretz.
  20. ↑ Butcher, Mike (16 September 2013). "Conduit, Worth $1.4BN, Merges With Email Giant Perion (Worth $153M) To Take Its Place On NASDAQ".
  21. ↑ "Perion completes Conduit ClientConnect acquisition - Globes". en.globes.co.il. 2 January 2014.
  22. ↑ Lunden, Ingrid (30 June 2014). "Perion Buys Grow Mobile For Up To $42M To Build Out Its Marketing Business".
  23. ↑ "Perion acquires US mobile ad co Grow Mobile - Globes". en.globes.co.il. 30 June 2014.
  24. ↑ "Israel's Perion buys mobile advertising firm Grow Mobile". 30 June 2014 – via www.reuters.com.
  25. ↑ Shamah, David. "Israel's Perion buys US firm for up to $42 million". The Times of Israel. ISSN 0040-7909.
  26. ↑ Shamah, David (1 August 2014). "Perion extends Microsoft deal, ups mobile business". Times of Israel.
  27. ↑ "Perion Networks acquires MakeMeReach for $15m - Globes". en.globes.co.il. 11 February 2015.
  28. ↑ Lunden, Ingrid (11 February 2015). "Perion Buys France's MakeMeReach For Up To $13M To Expand In Social Ads And Europe".
  29. ↑ "Israeli co Perion buys digital ad co Undertone for $180m - Globes". en.globes.co.il. 1 December 2015.
  30. ↑ Shields, Mike (1 December 2015). "Israeli Firm Perion Acquires Undertone for $180 Million". Wall Street Journal – via www.wsj.com.
  31. ↑ Habib-Valdhorn, Shiri (23 August 2016). "Power struggle developing at Perion". Globes.
  32. ↑ Habib-Valdhorn, Shiri (27 September 2016). "הקרב הוכרע: מנכ"ל פריון מנדלבאום פורש מתפקידו" [The battle is decided: Perion CEO Mandelbaum steps down]. Globes (in Hebrew).
  33. ↑ "Josef Mandelbaum to step down as Perion CEO". Globes. 27 September 2016.
  34. ↑ "BRIEF-Josef Mandelbaum to step down as CEO of Perion". 27 September 2016 – via www.reuters.com.
  35. ↑ "Perion Networks names Doron Gerstel CEO". Globes. 24 January 2017.
  36. ↑ "Perion Network: Google changes won't harm us". Globes. 14 March 2021.
  37. ↑ "Link-up with TVadSync boosts Perion Network". Globes. 12 October 2019.
  38. ↑ "Perion buys Ukrainian AI startup". Globes. 4 January 2019.
  39. ↑ "Nasdaq-Listed Adtech Company Perion Acquires Marketing Startup Captain Growth". CTECH - www.calcalistech.com. 1 April 2019.
  40. ↑ "Perion buys Content IQ as web goes cookie-less". Globes. 14 January 2020.
  41. ↑ "Perion buys digital publishing tech co Pub Ocean". Globes. 22 July 2020.
  42. ↑ "Perion Network buys Israeli co Vidazoo for $93.5m". Globes. 10 April 2021.
  43. ↑ Sternlicht, Hezi (4 October 2021). "Perion acquires video monetization platform Vidazoo for up to $93.5 million". CTECH - www.calcalistech.com.
  44. ↑ "Ad-tech co Perion unit partners with Pinterest". Globes. 23 September 2019.
  45. ↑ "Perion Network raises $57.4m at 18% discount". Globes. 20 January 2021.
  46. ↑ Hazani, Golan (9 December 2021). "פריון הגדילה את גיוס ההון מ-100 ל-156.6 מיליון דולר" [Perion increases equity raise from $100 million to $156.6 million]. Calcalist (in Hebrew).
  47. ↑ "Outgoing CEO boosted Perion's market cap twelvefold". Globes. 3 February 2023.
  48. ↑ Habib-Valdhorn, Shiri (12 December 2023). "Perion Networks buys Canadian ad tech co Hivestack". Globes.
  49. ↑ Shulman, Sophie (12 December 2023). "Adtech company Perion Network acquiring Hivestack for $100 million". CTech.
  50. ↑ Shulman, Sophie. "Perion embarks on layoffs after revenue takes hit." Calcalistech, 25 June 2024. https://www.calcalistech.com/ctechnews/article/sjdai5d8r
  51. ↑ Schiff, Allison (6 February 2025). "Why Stephen Yap Moved To Perion After Nearly Two Decades At Google". AdExchanger.
  52. ↑ Sullivan, Laurie (3 February 2025). "Google Head Of Marketing Americas Stephen Yap Leaves For Perion Network". MediaPost.
  53. ↑ "Perion acquires AI platform Greenbids for $65m". Globes. 13 May 2025.
  54. ↑ Rotberg, Florian (26 August 2026). "Stratacache Sell-Off Continues: Perion Acquires PRN". invidis.
  55. ↑ Palmon, Ben (26 August 2026). "פריון רוכשת את PRN בעסקה של עד 12 מיליון דולר" [Perion acquires PRN in a deal worth up to $12 million]. Bizportal (in Hebrew).
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