Yext

Last updated
Yext, Inc.
Yext 500.png
Type of business Public
Type of site
Software
Traded as NYSE:  YEXT
Russell 2000 Component
FoundedNovember 28, 2006
(17 years ago) (2006-11-28)
Headquarters61 Ninth Avenue, New York, New York
Founder(s) Howard Lerman
Brent Metz
Brian Distelburger
CEO Michael Walrath
Key people Michael Walrath (CEO and Chairman)
Marc Ferrentino (President and COO)
Brian Distelburger (Co-founder and board member)
Darryl Bond (CFO)
Rob Figueiredo (CTO)
Tom Nielsen (CRO)
Raianne Reiss (CMO)
Industry Internet
Products Listings, Search, Pages, Content, Reviews, Analytics, Chat
Revenue Increase2.svgUS$354.7 million (FY 2021)
Total equity US$115.8 million
Employees1,200 (2021)
URL yext.com
RegistrationRequired
Current statusActive

Yext is a New York-based digital presence platform company for multi-location brands. [1] It enables brands to deliver consistent, accurate information to customers anywhere in the digital world from one central platform. Offering local listings management, webpages, social media, reputation management and more, the Yext platform helps brands reach local customers on every digital channel.

The company was founded in 2006 by Howard Lerman, Brian Distelburger, and Brent Metz. Its market cap at the start of 2024 was $721 million. [2]

History

Yext was founded in 2006 as a local advertising business. [3] Its 2009 revenue was $20 million after it switched to generating customer leads and charging per lead. [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 was listed on the New York Stock Exchange. [11]

In 2019, Yext announced that it was moving its headquarters to 61 Ninth Ave in New York City, dubbed "The Yext Building". The distinctive building was designed by famed architect Rafael Viñoly. The move was originally planned for March 2020 but was delayed due to the onset of the COVID-19 Pandemic. [12]

In March 2022, the company's founder Howard Lerman, announced that he was stepping down as CEO. He was succeeded as CEO by Michael Walrath who had been the Chairman of the Board since 2011. [13]

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References

  1. ↑ "Create and deliver content to any channel". Yext. Retrieved 2024-02-20.
  2. ↑ "Yext, Inc. (NYSE:YEXT): Are Analysts Optimistic?". Yahoo. 2024-01-03. Retrieved 2024-01-05.
  3. ↑ "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. ↑ "Introducing The Yext Building In NYC" . Retrieved 2023-08-01.
  13. ↑ "Yext Announces Leadership Transition". Yext. 2022-03-08.

40°44′29″N73°59′15″W / 40.74139°N 73.98750°W / 40.74139; -73.98750

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