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Similarweb

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Similarweb Ltd.
Type of businessPublic
Traded asNYSE: SMWB
Founded2007; 17 years ago (2007)
Headquarters
Area servedWorldwide
Founder(s)Or Offer
ChairpersonOr Offer
Key peopleOr Offer (CEO)
Industrymarket intelligence
ServicesWeb analytics, web traffic and ranking
RevenueIncrease$218.0 million(2023)[3]
Employees1,288
URLsimilarweb.com
Launched2007 (2007)
Current statusOnline

Similarweb Ltd. is a global software development and data aggregation company specializing in web analytics, web traffic and digital performance. The company has 12 offices worldwide. Similarweb went public on the New York Stock Exchange in May 2021.[4]

History

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The company was founded in 2007 by Or Offer in Tel Aviv, Israel. By 2009, Similarweb won the first Israeli SeedCamp, attracting the attention of international media and investors. The company raised its Series A round of $1.1 million,[5] with the investment being led by Yossi Vardi, and Docor International Management. SimilarSites, a browser extension to help users find sites similar to those they are visiting, was launched later.

On September 24, 2013, the company closed a Series B round led by David Alliance, Moshe Lichtman with the participation of existing investor Docor International Management.

On February 24, 2014, Naspers invested $18 million into Similarweb and leading their Series C round. Within a month, Similarweb used a part of the capital for the acquisition of Israeli early-stage company TapDog for a few million dollars in shares and cash, less than a year after TapDog was founded.[6]

In November 2014, Similarweb raised $15 million in a Series D investment.[7][8]

In July 2015, Similarweb acquired personalized content discovery platform developer Swayy.[9][10]

In July 2017, the company announced a $47 million round of financing led by Viola Group, Saban Ventures with participation from CE Ventures and existing investors.[11]

In May 2021, Similarweb made its public debut on the NYSE at a $1.6 billion valuation.[12][13]

In October 2021, Similarweb won "Best Alternative data Provider" at Hedgeweek Americas Awards 2021, for their Investor Intelligence suite. [14]

On February 16, 2022, Similarweb reported revenue of $137.7 million, with a loss of $69 million.[15]

On February 14, 2023, Similarweb reported total revenue of $193.2 million for fiscal year 2022, and annual recurring revenue (ARR) exceeding $200 million.

On February 13, 2024, Similarweb reported total revenue of $218.0 million for fiscal year 2023. [16]

Technology

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Similarweb develops tools that enable the analysis of the traffic and behavior of users on websites and apps. The service and datasets are provided in a limited free edition, but the paid platform is addressed to SMBs and large companies that require access to data at larger scales for marketing, sales and Market research. The data is collected from a number of different sources that provide information about the internet and app usage of users,[17] including various information partners, and anonymous data from users of the various dedicated browser addons that the company distributes.[18]

In 2024, Similarweb announced a collaboration with Dstillery to enhance privacy-safe AI model training using Similarweb's data insights.[19]

Ranking

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Similarweb ranks websites and apps based on traffic and engagement metrics. Its ranking is calculated according to the collected datasets and is updated on a monthly basis with new data. Also, The ranking system covers 210 categories of websites and apps in 190 countries and was designed to be an estimate of a website's popularity and growth potential. The company ranks websites based on traffic and engagement data, and ranks apps in the App Store (iOS/iPadOS) and Google Play Store based on downloads, installs & active user data.

Acquisitions

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On December 10, 2015, Similarweb announced it had acquired Quettra, a Silicon Valley–based mobile intelligence startup, to boost its mobile operations.[20][21]

In November 2021, Similarweb acquired "Embee" to extend its mobile user data sets.[22]

In May 2022, Similarweb acquired "RankRanger" to extend its offering to the SEO industry. Rank Ranger provides keyword rank tracking services and advanced APIs that have been added to Similarweb's existing SEO tools to create a more comprehensive suite.[23]

In March 2024, Similarweb acquired Admetricks to expand its ad intelligence offering.[24]

In July 2024, Similarweb acquired 42matters to strengthen its app intelligence offering.[25]

Awards

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  • In November 2021, Similarweb won the HedgeWeek Americas award for Best Alternative Data Provider.[26]
  • In March 2022, Similarweb won the HedgeWeek European award for Best Alternative Data Provider.[27]
  • In April 2022, Similarweb won the HFM European Services Award for Best Data Provider.[28]

See also

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References

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  1. ^ "Israeli Analytics Firm SimilarWeb To File For IPO On NYSE". April 18, 2021.
  2. ^ Solomon, Shoshanna. "New York City now home to 21 Israel-founded tech unicorns". www.timesofisrael.com.
  3. ^ "Document". www.sec.gov.
  4. ^ "Similarweb Announces Pricing of Initial Public Offering". Businesswire. 12 May 2021. Retrieved 27 July 2022.
  5. ^ "Series A funding". TechCrunch. 24 September 2013. Retrieved 24 August 2014.
  6. ^ "TapDog Acquisition". Globes Inc. 20 March 2014. Retrieved 24 August 2014.
  7. ^ Sarah Perez (29 January 2013). "SimilarGroup Raises $2.5 Million To Take On Alexa's (Often Terrible) Web Rankings With Its New Similarweb Service". TechCrunch. Retrieved 6 June 2015.
  8. ^ Rebecca Grant (29 January 2013). "SimilarGroup takes new funding to take on Alexa". VentureBeat. Retrieved 6 June 2015.
  9. ^ "Web traffic analytics co Similarweb acquires Swayy - Globes". Globes (in Hebrew). 20 July 2015. Retrieved 2018-06-05.
  10. ^ "Digital Measurement Service Similarweb Acquires Content Discovery Platform Swayy – TechCrunch". techcrunch.com. 20 July 2015. Retrieved 2018-06-05.
  11. ^ "Similarweb raises $47 million to grow its web and app analytics platform globally". VentureBeat. 2017-07-25. Retrieved 2018-06-26.
  12. ^ Zara, Christopher (2021-05-12). "Similarweb stock makes NYSE debut in latest tech IPO: Here's what to know". Fast Company. Retrieved 2021-05-22.
  13. ^ Solomon, Shoshanna. "Digital analytics firm Similarweb to raise $180 million in NY IPO". www.timesofisrael.com. Retrieved 2021-05-22.
  14. ^ "Similarweb Wins "Best Alternative Data Provider" at Hedgeweek Americas Awards 2021". Similarweb IR. 2021-10-28.
  15. ^ "Similarweb: Q4 Earnings Snapshot". AP NEWS. 2022-02-16. Retrieved 2022-03-15.
  16. ^ "Similarweb: Similarweb Announces Fourth Quarter and Fiscal Year 2023 Results". Yahoo Finance. 2024-02-13. Retrieved 2024-03-28.
  17. ^ "Similarweb Data Methodology". support.similarweb.com.
  18. ^ "Similarweb Extension". chrome.google.com.
  19. ^ Dstillery. "Dstillery Announces Collaboration with Similarweb to Enhance Privacy-Safe AI Model Training". www.prnewswire.com. Retrieved 2024-09-30.
  20. ^ "Quettra Acquisition". TechCrunch. 10 December 2015. Retrieved 10 December 2015.
  21. ^ "Analytics company SimilarWeb acquires mobile intelligence startup Quettra for $10M+". VentureBeat. 2015-12-10. Retrieved 2018-06-05.
  22. ^ "Similarweb Acquires Leading Mobile-Insights Provider Embee Mobile". 10 November 2021. Archived from the original on 5 December 2021. Retrieved 5 December 2021.
  23. ^ "Similarweb Acquires Rank Ranger™, a Leading Provider of SEO and Search Rank Tracking Solutions". 16 May 2022.
  24. ^ "Similarweb Acquires Admetricks to Expand Ad Intelligence Offering" (Press release). 4 March 2024.
  25. ^ "Similarweb Announces Acquisition of 42matters, Strengthening Leadership in App Intelligence" (Press release). 1 July 2024.
  26. ^ "Hedgeweek American Awards 2021". 2021-11-30.
  27. ^ "Rewarding fund performance and service provider excellence in hedge funds". 2022-03-31.
  28. ^ "2023 Winners". 2023-04-30.
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