Yext

Yext is a New York-based online marketing and search company.[1] It offers brand updates using its cloud-based network of apps, search engines and other facilities.[1] The company was founded in 2006 by Howard Lerman, Brian Distelburger, and Brent Metz. Its 2021 market cap was $2.0 billion and revenue was $354.7 million.[2]

Yext, Inc.
Type of businessPublic
Type of site
Software
Traded asNYSE: YEXT
Russell 2000 Component
FoundedNovember 28, 2006 (2006-11-28)
Headquarters61 Ninth Avenue, New York, New York
Founder(s)Howard Lerman
Brent Metz
Brian Distelburger
CEOMichael Walrath
Key peopleMichael 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)
IndustryInternet
ProductsListings, Search, Pages, Content, Reviews, Analytics, Chat
RevenueIncrease US$354.7 million (FY 2021)
Total equityUS$115.8 million
Employees1,200 (2021)
URLyext.com
RegistrationRequired
Current statusActive

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 it's 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]

References
  1. "Products | Control the Knowledge About Your Business". Yext. Retrieved 2017-03-19.
  2. "Yext, Inc. Announces Fourth Quarter and Full Year Fiscal 2019 Results". Yext. 2019-03-06. Retrieved 2020-03-06.
  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.

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