OpenWeb, a New York-based provider of a community engagement platform, acquired Jeeng, a New York-based provider of an audience management platform, for $100M.
The acquisition strengthens OpenWeb’s ability to create one-to-one relationships with millions of users. Jeeng will enhance the community engagement platform’s delivery of contextualized marketing and personalized messaging.
Led by Jeff Kupietzky, CEO, Jeeng, formerly PowerInbox, provides personalized, automated and multichannel messaging solutions allowing publishers to drive new revenue with personalized audience engagement. With it, publishers can own and optimize their audiences – focusing on automated, cross-channel messaging tailored to audience interest, easily managed and supported by a dynamic messaging platform. Jeeng supports 150 million unique monthly visitors and over 650 publishers, including VICE Media, The Atlantic, Crain’s, HarperCollins, and Vox Media, helping them effectively build relationships with readers across multiple channels with hyper-personalized messaging.
Led by Nadav Shoval, CEO, OpenWeb provides a technology platform that empowers its partners to build communities rooted in conversations and social experiences. OpenWeb works with more than 1,000 top-tier publishers, hosting more than 100 million active users each month. Founded in 2015, the company has over 265 employees in New York City, Tel Aviv, Kiev, San Diego, Canada, London, and Paris and is backed by world-class investors including Georgian, Insight Partners, , Entrée Capital, The New York Times, Samsung Next, Dentsu, and ScaleUp. To date, the company has raised $393m in funding and is currently valued at $1.5 billion.
The acquisition is the third within 12 months for OpenWeb. In January, the data company purchased Hive Media for $60 million, adding expertise and resources to enhance its ability to build new, innovative products to empower publishers’ relationships with their audiences. In April, it acquired ADYOULIKE, a global advertising platform, for $100 million. Most recently, OpenWeb raised $170 million in Series F funding, bringing its total valuation to $1.5 billion.
FinSMEs
28/01/2023