Yext
{{short description|New York City technology company}}
{{Infobox website
| name = Yext, Inc.
| logo = Yext_500.png
| logo_size = 250px
| collapsible =
| screenshot =
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| dissolved =
| location = 61 Ninth Avenue, New York, New York
| locations =
| founder = Howard Lerman
Brent Metz
Brian Distelburger
| 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)
| CEO = Michael Walrath
| MD =
| GM =
| industry = Internet
| products = Listings, Search, Pages, Content, Reviews, Analytics, Chat
| services =
| revenue = {{Increase}} {{USD|354.7}} million (FY 2021)
| assets =
| equity = {{USD|115.8}} million
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| url = {{URL|yext.com}}
| alexa =
| advertising =
| registration = Required
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| company_type = Public
| traded_as = {{NYSE|YEXT}}
Russell 2000 Component
| foundation = {{Start date and age|2006|11|28|df=no|p=yes|br=yes}}
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| operating_income =
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| num_employees = 1,200 (2021)
| subsid =
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| website_type = Software
| num_users =
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| current_status = Active
| collapsetext =
}}
Yext is a New York-based digital presence platform company for multi-location brands.{{Cite web |title=Create and deliver content to any channel |url=https://www.yext.com/index.html |access-date=2024-02-20 |website=Yext |language=en}} 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.{{Cite web |date=2024-01-03 |title=Yext, Inc. (NYSE:YEXT): Are Analysts Optimistic? |url=https://finance.yahoo.com/news/yext-inc-nyse-yext-analysts-130018297.html |access-date=2024-01-05 |website=Yahoo |language=en-US}}
History
Yext was founded in 2006 as a local advertising business.{{Cite web|url=https://www.forbes.com/companies/yext/|title=Yext|website=Forbes|language=en|access-date=2020-03-06}} Its 2009 revenue was $20 million after it switched to generating customer leads and charging per lead.{{cite news|last=Schonfeld|first=Erick|title=The $25 Million Demo. Yext Scores A Big Round From IVP After TechCrunch50 Debut.|url=https://techcrunch.com/2009/10/01/the-25-million-demo-yext-scores-a-big-round-from-ivp-after-techcrunch50-debut/|access-date=27 November 2012|newspaper=TechCrunch|date=October 1, 2009}}
In August 2012, the company sold its pay-per-call business to IAC's CityGrid Media in order to focus on listings.{{cite news|last = Kim|first = Ryan|title = Yext sells pay-per-call biz to CityGrid, focuses on local business listings|newspaper = GigaOM|date = August 20, 2012}}{{cite news|last = Bruder|first = Jessica|title = A Wave of Start-Ups Helps Small Companies Outsource Their Tasks|url = https://www.nytimes.com/2012/12/20/business/smallbusiness/start-ups-take-on-special-tasks-for-small-business.html?_r=1&adxnnl=1&ref=business&pagewanted=2&adxnnlx=1356020181-UYIdTbnBezdr7vqqCwajrA|access-date = 20 December 2012|newspaper = New York Times|date = December 19, 2012}} By that time, Yext had raised $65.8 million in funding and handled 950,000 updates for 50,000 businesses.{{cite news|last=Ha|first=Anthony|title=Yext Raises $27M More At A $270M Valuation|url=https://techcrunch.com/2012/06/12/yext-series-e/|access-date=27 November 2012|newspaper=TechCrunch|date=June 12, 2012}}
Investors included Sutter Hill Ventures, Institutional Venture Partners, and WGI investments.{{cite web|title=About Yext: The Best Local Search Results|url=http://www.yext.com/company-overview.html|access-date=27 November 2012|publisher=Yext}} By 2016, the company had $89 million in revenue and had expanded its offices at One Madison Avenue to 95,000 square feet.{{cite news|last=Gregor|first=Daniel|title=Yext Takes 40,000 s/f at One Mad|url=http://commercialobserver.com/2012/07/yext-takes-40000-sf-at-one-mad/|access-date=30 November 2012|newspaper=Commercial Observer|date=July 2012}}
In 2016, the company was ranked #60 on the Deloitte Fast 500 North America list.{{cite web|url=https://www2.deloitte.com/content/dam/Deloitte/us/Documents/technology-media-telecommunications/us-tmt-2016-fast-500-winners-by-rank.pdf|title=2016 Winners by rank|publisher=Deloitte|access-date=16 November 2017}}
In 2017, Yext was listed on the New York Stock Exchange.{{Cite web|url=https://www.macrotrends.net/stocks/charts/YEXT/yext/stock-price-history|title=Yext - Stock Price History {{!}} YEXT|website=www.macrotrends.net|access-date=2020-04-27}}
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. {{Cite web|url=https://www.prnewswire.com/news-releases/introducing-the-yext-building-in-nyc-300839539.html|title=Introducing The Yext Building In NYC|access-date=2023-08-01}}
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. {{Cite web|url=https://www.yext.com/about/news-media/2022-leadership-transition|title=Yext Announces Leadership Transition|website=Yext|date=2022-03-08}}
References
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Category:Digital marketing companies of the United States
Category:Marketing companies established in 2006
Category:2017 initial public offerings
Category:Companies listed on the New York Stock Exchange