Perion Network

Perion Network Ltd.
Public
Traded as NASDAQ: PERI, TASE: PERI
Industry Software, Internet
Founder Yaron Adler, Ofer Adler
Headquarters Holon, Israel
Area served
 Worldwide
Key people
 CEO: Josef Mandelbaum
Products Codefuel, GrowMobile, IncrediMail, Smilebox.
Revenue Increase US$330.75 million (2014)
Increase US$55.29 million (2014)
Increase US$42.82 million (2014)
Number of employees
 400 (as of April 30, 2015)
Website www.perion.com

Perion is an Israel-based software company providing engagement and monetization solutions for web and mobile based digital businesses. Their headquarters are in Holon, Israel, with offices in San Francisco, CA; New York City, NY; Redmond, WA, USA; Paris, France and Barcelona, Spain.[1][2]

History

Perion was formerly IncrediMail, an email company founded in 1999 by cousins Yaron and Ofer Adler. Soon after its founding, they raised $3.3 million from private and institutional sources and IPOed on NASDAQ in January 2006. They listed on the Tel Aviv Stock Exchange in 2007.[3]

Perion was managed by its original founders until August 2010, when Josef Mandelbaum was appointed CEO.[4] 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 and other digital photo albums.[5][6]

In November 2011 they changed the company name to Perion, the Hebrew word for productivity. In November 2012 Perion purchased Israel-based SweetPacks (aka SweetIM) for approximately $41 million.[7][8] SweetPacks produced a variety of downloadable content for everyday use. In January 2014, they acquired Conduit’s ClientConnect business in an all-stock transaction valued at $660 million.

In June 2014, Perion acquired San Francisco based GrowMobile.[9] In February 2015, Perion acquired Paris-based MakeMeReach - a social media advertising platform.[10]

After their move to Holon, Perion Network incorporated CSR policies into their corporate strategy. 2% of its net profits is donated and all employees are permitted to spend up to 40 hours per year volunteering in the community.[11]

In December 2015, Perion acquired the digital advertising company Undertone for $180 million.[12]

Products

CodeFuel analyzes user data and ad revenue for app developers.[2] The mobile and desktop apps are IncrediMail, an email program and Smilebox, a desktop and mobile app for customizing and animating photos.[13] GrowMobile provides a centralized, programmatic way to purchase media.

Some products are included in downloads of other free software and often installed accidentally by users. These are often classified by malware [14] removal tools as potentially unwanted programs. In 2013, Google terminated a contract that allowed Perion to bundle their adware with certain Google products.[15][16]

See also

References

  1. ↑ "Perion Network Ltd.".New York Times
  2. 1 2 "Perion to Participate in ad:tech San Francisco 2015".New York Times. Retrieved May 19, 2015
  3. ↑ "TASE Site - Company: PERION NETWORK - Summary - Share: PERION NETWORK 01095819".
  4. ↑ "Josef Mandelbaum Joins IncrediMail as Chief Executive Officer". Business Wire. Retrieved July 7, 2010
  5. ↑ "Smilebox to be acquired by IncrediMail for up to $40 million". Aislyn Greene, Puget Sound Business Journal. Retrieved August 1, 2011
  6. ↑ "IncrediMail Buys Online Photo Album And Slideshow Creator Smilebox For Up To $40 Million". Robin Wauters, Tech Crunch. Retrieved August 1, 2011
  7. ↑ "SweetPacks Acquisition Call".Nasdaq. Retrieved November 8, 2012
  8. ↑ "Holy Emoticons Batman! — Perion Network Acquires SweetPacks For $41M". Mike Butcher, Tech Crunch. Retrieved November 8, 2012
  9. ↑ "Perion extends Microsoft deal, ups mobile business".David Shamah, Times of Israel. Retrieved August 1, 2014
  10. ↑ "Perion moves closer to mobile ad tech with new acquisition".David Shamah, Times of Israel. Retrieved February 12, 2015
  11. ↑ "Perion in CR push following merger".Ethical Performance
  12. ↑ "Ad tech firm Perion buys Undertone for $180 million in cash". Reuters. 1 December 2015.
  13. ↑ "MikiKolko , Perion, Analytics, Mobile Marketing, Israel".India goes digital- Videos
  14. ↑ "PUP.Optional.SearchProtect.A Removal Guide". 21 August 2013.
  15. ↑ Lazaroff, Leon (2013-01-23). "Perion plunges most since 2011 on Google deal concerns". Bloomberg.
  16. ↑ "How to get around the new Google opt-in policy in four simple pictures". Seeking Alpha. 2013-03-18.
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