System1
{{Short description|An advertising and digital assets holding company}}
{{Infobox company
| name = System1
| type = Public
| traded_as = NYSE:SST
| industry = News media security Internet advertising
| founded = 2013
| key_people = Michael Blend (CEO)
Chuck Ursini (Co-founder)
Brian Coppola (CPO)
| products = Answers.com, HowStuffWorks, Info.com, Infospace, MapQuest, Startpage.com,
Formerly: Waterfox
| website = {{URL|https://system1.com}}
}}
System1 is an American Internet advertising company.{{cite news |last1=Reim |first1=Garrett |title=Venice's System1 Raises $270 Million |url=https://labusinessjournal.com/technology/venices-system1-raises-270-million/ |access-date=2 May 2023 |publisher=Los Angeles Business Journal |date=September 19, 2017}} Formerly known as OpenMail, it was founded in 2013.{{Cite web |title=System1 raises $270 million for 'consumer intent' advertising |url=https://www.bizjournals.com/losangeles/news/2017/09/20/system1-raises-270-million-for-consumer-intent.html |access-date=2024-04-06 |website=bizjournals.com}}{{Cite news |last= |first= |date=January 24, 2022 |title=SPACs Are Running Out of Names to List |url=https://www.wsj.com/articles/spacs-are-running-out-of-names-to-list-11643022564 |access-date=2024-04-06 |work=The Wall Street Journal |language=en-US}}{{Cite web |last= |first= |date=2018-01-02 |title=System1: Silicon Beach's Sleeping Giant |url=https://csq.com/2018/01/system-1-silicon-beach-sleeping-giant/ |access-date=2024-04-06 |website=CSQ {{!}} C-Suite Quarterly |language=en}} It describes itself as operating a "Responsive Acquisition Marketing Platform", and cites privacy as one of its principal foci, although it has been criticized for its influence on privacy-focused properties, including search engine Startpage.com.{{cite web |author1=Sven Taylor |title=Startpage Acquired by System1, Privacy One Group – Still Safe? |url=https://restoreprivacy.com/startpage-system1-privacy-one-group/ |website=Restore Privacy |access-date=2 May 2023 |date=November 15, 2019}}{{Cite web |last=Brinkmann |first=Martin |date=November 16, 2019 |title=Startpage Search owner changes raise serious questions |url=https://www.ghacks.net/2019/11/16/startpage-search-owner-changes-raise-serious-questions/}} It is headquartered in Marina del Rey, California.{{Cite web |last= |first= |date=2021-04-18 |title=System1 Signs Large Sublease in Marina del Rey |url=https://labusinessjournal.com/real-estate/system1-signs-large-sublease-marina-del-rey/ |access-date=2024-04-06 |website=Los Angeles Business Journal |language=en-US}}
History
Michael Blend and Chuck Ursini founded the company in Venice Beach, California, in 2013.
In July 2016, Infospace and its subsidiaries HowStuffWorks, Dogpile, Zoo.com, MetaCrawler, and WebCrawler were bought by System1.{{cite news |last1=Ellingson |first1=Annlee |date=September 20, 2017 |title=System1 raises $270 million for 'consumer intent' advertising |url=https://www.bizjournals.com/losangeles/news/2017/09/20/system1-raises-270-million-for-consumer-intent.html |access-date=May 2, 2023 |publisher=L.A. Business First}}{{Cite web |date=2016-07-05 |title=Blucora to sell InfoSpace business for $45 million |url=https://www.seattletimes.com/business/technology/blucora-to-sell-infospace-business-for-45-million/ |access-date=2024-03-12 |website=The Seattle Times |language=en-US}}
OpenMail rebranded as System1 shortly after April 2017. System1’s subsidiary, digital media publisher HowStuffWorks, also spun out as an independent podcast network in 2017.{{Cite web |last= |first= |date=2017-08-31 |title=HowStuffWorks Gets $15 Million Series A, Spins Off As Independent Podcast Network |url=https://www.adexchanger.com/ad-exchange-news/howstuffworks-gets-15-million-series-spins-off-independent-podcast-network/ |access-date=2024-04-06 |website=AdExchanger |language=en-US}}{{Cite web |last= |first= |date=2017-08-31 |title=HowStuffWorks is the latest podcast company to round up new funding |url=https://www.vox.com/2017/8/31/16232558/howstuffworks-podcast-funding-raine-group-stuff-you-should-know |access-date=2024-04-06 |website=Vox |language=en}}
In October 2019, System1 bought MapQuest from Verizon.{{Cite web |last=Doctorow |first=Cory |date=2019-10-10 |title=Verizon dumps another Oath property for peanuts: RIP, Mapquest |url=https://boingboing.net/2019/10/10/do-webrings-next.html |access-date=2023-08-27 |website=Boing Boing |language=en-US}} Cory Doctorow opined, as soon as MapQuest was bought by AOL (which was later bought by Verizon), that it was doomed to die. Verizon had dumped MapQuest to System1 for such a small sum, it was "not material enough for Verizon to file paperwork".
In February 2020, System1 acquired Waterfox; concern about the acquisition, as well as secrecy surrounding it, was expressed by the public.{{Cite web |last=Brinkmann |first=Martin |date=Feb 15, 2020 |title=Waterfox web browser sold to System1 |url=https://www.ghacks.net/2020/02/14/waterfox-web-browser-sold-to-system1/ |access-date=2023-08-27 |website=Ghacks Technology News}} System1 also acquired a controlling share in privacy-focused search engine Startpage in 2020.{{Cite web |date=February 10, 2022 |title=Microsoft Advertising Partner Awards Americas winners |url=https://about.ads.microsoft.com/en-us/blog/post/february-2022/microsoft-advertising-partner-awards-americas-winners |access-date=2024-04-06 |website=Microsoft |language=en}} The Waterfox and Startpage acquisition was done through System1's subsidiary Privacy One Group Ltd. Further clarification and communication happened after public concern about the acquisition grew.{{Cite web |date=2020-07-03 |title=Privacy-focused search engine Startpage gives more details of the System1 investment |url=https://www.computing.co.uk/news/4017337/privacy-focused-search-engine-startpage-details-system1-investment |access-date=2024-03-12 |website=www.computing.co.uk |language=en}}
In 2021, System1 announced that it would be going public on the New York Stock Exchange.{{Cite web |title=System1 to go public via SPAC; Smart acquires DynAdmic - ExchangeWire.com |url=https://www.exchangewire.com/blog/2021/07/01/system1-to-go-public-via-spac-smart-acquires-dynadmic/ |access-date=2024-04-21 |website=www.exchangewire.com |language=en-GB}}{{Cite web |last= |first= |date=2021-07-05 |title=System1 to go public through SPAC |url=https://domainnamewire.com/2021/07/05/system1-to-go-public-though-spac/ |access-date=2024-04-21 |website=Domain Name Wire {{!}} Domain Name News |language=en-US}} The company also announced it would be combining with the SPAC Trebia Acquisition Corp. in a reverse merger. Through this deal, System1 also merged with the privacy subscription platform Protected.net. It officially went public on January 31, 2022.{{Cite web |title=System1 Goes Public On The NYSE, Virtually Rings The Bell |url=https://www.mediapost.com/publications/article/370702/system1-goes-public-on-the-nyse-virtually-rings-t.html |access-date=2024-04-21 |website=www.mediapost.com |language=en}} Protected.net would eventually rebrand as Total Security.
In February 2022, System1 acquired consumer mapping service RoadWarrior.{{Cite web |date=February 14, 2022 |title=System1, Owner of MapQuest, Buys RoadWarrior |url=https://www.socaltech.com/system__owner_of_mapquest_buys_roadwarrior/s-0082189.html |website=socaltech.com}}{{Cite web |last= |date=2022-02-11 |title=MapQuest Parent System1 Closes RoadWarrior Deal |url=https://www.pymnts.com/acquisitions/2022/mapquest-parent-system1-closes-roadwarrior-deal/ |access-date=2024-04-21 |website=PYMNTS |language=en-US}} In March 2022, System1 purchased online coupon provider CouponFollow in a deal worth up to $110 million.{{Cite web |date=March 3, 2022 |title=Ad-ranking company System1 buys CouponFollow in deal worth up to $110 million |url=https://www.bizjournals.com/losangeles/news/2022/03/04/ad-ranking-company-system1-buys-couponfollow.html |access-date=2024-04-21 |website=www.bizjournals.com}}{{Cite web |last= |first= |date=2022-03-04 |title=System1 acquires e-commerce coupon company from NextGen Shopping (NYSE:SST) |url=https://seekingalpha.com/news/3809586-system1-acquires-e-commerce-coupon-company-from-nextgen-shopping |access-date=2024-04-21 |website=seekingalpha.com |language=en}}
In April 2022, Waterfox set Startpage as its default search engine, reflecting the ownership of System1.{{Cite web |first= |date=7 April 2022 |title=Waterfox G4.1.0 update reduces requirement to SSE 4.1, sets Startpage as the default search engine for Private Tabs |url=https://www.ghacks.net/2022/04/07/whats-new-in-the-waterfox-g4-1-0-update/}}
In May 2022, in a quarterly earnings report, System1's acquisition of Answers.com was announced.{{Cite news |date=12 May 2022 |title=System1 Announces Preliminary First Quarter 2022 Financial Results |url=https://www.nasdaq.com/press-release/system1-announces-preliminary-first-quarter-2022-financial-results-2022-05-12 |access-date=2024-03-12 |work=NASDAQ}}
From 2022-2023, System1 was named a Microsoft Supply Partner of the Year in the Americas. Microsoft also gave System1 an Advertising Global Partner Award in 2023.{{Cite web |title=2023 Global Partner Award winners! |url=https://about.ads.microsoft.com/en-us/blog/post/june-2023/2023-microsoft-advertising-global-partner-award-winners |access-date=2024-04-23 |website=Microsoft Advertising |language=en}}
In July 2023, Waterfox became independent of System1.{{Cite web |last=arindam |date=2023-07-31 |title=Waterfox Browser Cuts Ties with System1, Embarks on a New Journey |url=https://debugpointnews.com/waterfox-becomes-independent/ |access-date=2023-08-27 |website=DebugPoint NEWS |language=en-US}} In October 2023, System1 announced a search partnership with European search engine Ecosia after Ecosia moved away from exclusively using Microsoft’s Bing.{{Cite magazine |last= |first= |date=October 16, 2023 |title=A 'Green' Search Engine Sees Danger—and Opportunity—in the Generative AI Revolution |url=https://www.wired.com/story/search-engine-ecosia-generative-ai-revolution/ |access-date=2024-04-20 |magazine=Wired |language=en-US |issn=1059-1028}} In November 2023, System1 also announced the sale of Total Security.{{Cite web |title=System1 (SST) Announces Sale of Total Security |url=https://www.streetinsider.com/Corporate+News/System1+%28SST%29+Announces+Sale+of+Total+Security/22473944.html |access-date=2024-04-20 |website=StreetInsider.com |language=en}}
Properties
- ActiveBeat
- Answers.com
- CouponFollow
- Dogpile
- HowStuffWorks
- Info.com
- MetaCrawler
- MapQuest
- StartPage.com{{Cite web |last=Brock |first=James |date=2023-09-18 |title=System1 Mulls $240M Offer |url=https://labusinessjournal.com/deals/system1/ |access-date=2024-04-20 |website=Los Angeles Business Journal |language=en-US}}
- WalletGenius
- WebCrawler
- Zoo.com