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 have also been listed on the Tel Aviv Stock Exchange since 2007.[3]

Perion was managed by its original founders until August 2010, when Josef Mandelbaum was appointed as the new CEO.[4] Mandelbaum had previously been the 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 its 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.[13] The mobile and desktop apps are IncrediMail, an email program and Smilebox, a desktop and mobile app for customizing and animating photos.[14] GrowMobile provides a centralized, programmatic way to purchase media.

Some of the products are included in downloads of other free software and often installed accidentally by users. These are often classified by malware [15] removal tools as potentially unwanted programs. In 2013, Google terminated Perion's contract which allowed Perion to bundle their adware with certain Google products.[16][17]

See also

References

  1. "Perion Network Ltd.".New York Times
  2. "Perion to Participate in ad:tech San Francisco 2015".New York Times. Retrieved May 19, 2015
  3. http://www.tase.co.il/Eng/General/Company/Pages/companyMainData.aspx?ShareID=01095819&CompanyID=002240&subDataType=0&
  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. "Perion to Participate in ad:tech San Francisco 2015".New York Times. Retrieved May 19, 2015
  14. "MikiKolko , Perion, Analytics, Mobile Marketing, Israel".India goes digital- Videos
  15. http://www.malwareremovalguides.info/pup-optional-searchprotect-a-removal-guide/
  16. Lazaroff, Leon (2013-01-23). "Perion plunges most since 2011 on Google deal concerns". Bloomberg.
  17. "How to get around the new Google opt-in policy in four simple pictures". Seeking Alpha. 2013-03-18.
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