Digital River

Digital River
Private
Industry e-commerce
Founded 1994
Founder Joel Ronning (former CEO)
Headquarters Minnetonka, Minnesota, United States
Area served
 global
Key people

Dave Dobson (CEO)
Ted Cahall (COO)

Hoke Horne (CFO)
Products digital software delivery
Revenue $370.5 million[1]
Number of employees
 1,239[2]
Website www.digitalriver.com

Digital River is a private company[3] that provides global ecommerce, payments and marketing services. In 2013, Digital River processed more than $30 billion in online transactions. Digital River is headquartered in Minnetonka, Minnesota.

Company operations

Digital River has a history of acquiring other companies in the e-commerce (including digital software delivery) industry.[4]

Notable acquisitions include:

  • Simtel
  • CCNow (2002)[5]
  • Freemerchant.com (discontinued 15 January 2008)[6]
  • Journey Education Marketing
  • eSellerate
  • THINK Subscription (2008)[7]
  • SWREG (2005)[8]
  • Fatfoogoo (2010)[9][10]

Divestitures

Security breach

A security breach in 2010 resulted in a list of nearly 200,000 customer's data being stolen.[12] A lawsuit followed by Digital River.[13]

CEO History

Joel Ronning was CEO from the company's founding until stepping down in November 2012.[14] In June 2013, Ronning was ranked as the most overpaid CEO at a public company in Minnesota[15] despite having been CEO only until November of the previous year. In February 2013, Dave Dobson was named CEO.[16]

References

  1. ↑ "Digital River Reports Fourth Quarter and Full Year 2013 Financial Results". Digital River. 2014. Retrieved 2014-02-05.
  2. ↑ "2009 Annual Report". Digital River. 2009. Retrieved 2007-12-01.
  3. ↑ http://www.digitalriver.com/our-company/newsroom/press-release/digital-river-announces-completion-acquisition-investor-group-led-siris-capital-group/
  4. ↑ Sharon Housley (2004). "Digital River's Destructive Acquisition Strategy". Security Pro News. Retrieved 2011-04-24.
  5. ↑ Kurt Peters (2002). "Digital River Acquires Certain Assets of CCNow.com". Internet Retailer. Retrieved 2013-02-02.
  6. ↑ The FreeMerchant Team (2008). "Freemerchant.com". Digital River, Inc. Retrieved 2013-02-02.
  7. ↑ "Digital River introduces a new feature for online merchants". ecommerce-journal. 2009. Retrieved 2009-01-29.
  8. ↑ "SWREG Inc.: Private Company Information". Bloomberg Businessweek. 2012. Retrieved 2013-02-02.
  9. ↑ Eric Savitz (2010). "Digital River Acquires Fatfoogoo". Barrons. Retrieved 2011-04-24.
  10. ↑ Dean Takahashi (2010). "Digital River buys virtual goods company Fatfoogoo". Retrieved 2010-05-05.
  11. ↑ Snorrason Holdings (2012). "Snorrason Holdings to Acquire CCNow from Digital River". PRWeb. Retrieved 2012-12-31.
  12. ↑ Dan Browning (2010). "Digital River sues over data breach". Star Tribune. Retrieved 2011-04-24.
  13. ↑ Tim Wilson (2010). "Digital River Sues Over Theft Of Data On Nearly 200,000 Customers". Darkreading. Retrieved 2011-04-24.
  14. ↑ http://www.startribune.com/business/176887141.html
  15. ↑ http://www.bizjournals.com/twincities/news/2013/07/26/overpaid-ceos.html
  16. ↑ http://www.businesswire.com/news/home/20130228006533/en/Digital-River-Names-David-C.-Dobson-Chief

External links

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