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Yieldify

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Yieldify
File:Yieldify Logo.jpeg
Type
Private
Industry
  • Conversion rate optimization
Founded 📆June 1, 2013
Founders 👔
  • Jay Radia
  • Meelan Radia
Headquarters 🏙️London, England
Area served 🗺️
Key people
  • Jay Radia (CEO)
Members
Number of employees
Websitewww.yieldify.com
address
telephone

Yieldify is a marketing technology company that delivers conversion rate optimization for e-commerce companies.[1]

History[edit]

Yieldify was founded in June 2013 by brothers Jay and Meelan Radia. The company is headquartered in London and has offices New York and Sydney.

Yieldify raised $11.5 million (£7.3 million) in a Series A funding round with Softbank Capital and Google Ventures Europe.[2][3] Before its Series A funding round, Yieldify had raised $1.2 million in a seed round from investors including Hoxton Ventures and Robin Klein.[1]

After two years in business Yieldify became one of the fastest-growing tech start-ups in UK history as of December 2015[4] and was one of Europe's fastest growing SaaS businesses in 2014, with revenue growth of 480%.[1]

The company has expanded to several markets, opening a new office in Sydney, Australia in 2013,[5] an office in New York in 2014, and a technology development hub in Porto, Portugal in 2015.[6] The company was reportedly dogged by IP infringement lawsuits, resulting in a mass lay-off of around a fifth of their workforce in March 2016, the closure of their Munich and Porto offices in summer 2016, and another mass lay-off in November 2016.

In 2015, co-founder and CEO Jay Radia was selected to be part of the Financial Times' Euro Tech Top 10 Under 30.[7]

In May 2017, Yieldify raised $ 6 million in Series B funding, and appointed adtech veteran, John Giuliani as chairman.[8][9]

Business model[edit]

Yieldify is part of the conversion rate optimization and predictive marketing industries. Their approach is to use a combination of data analysis and behavioral science to create a more personalized shopping experience.[10] The software collects data on user behaviour, dwell time and browsing activity and matches this data to offers and products to suggest personalized deals to shoppers.[1]

Awards[edit]

Yieldify was entered into Tech City UK's Future Fifty list of the UK's top 50 fast-growth digital startups.[11]

The company was voted Industry Choice of Publisher at the 2015 Performance Marketing Awards.[12][13]

Litigation against Bounce[edit]

In 2015, New York-based competitor Bounce Exchange filed a lawsuit against Yieldify, accusing the company of copying its code and infringing on its patents.[14] Yieldify denied the allegations, but did change its code after Bounce's initial complaint.[14]

With the first case still open, Bounce filed a second lawsuit in April 2016, repeating the initial allegations and adding some of Yieldify's customers as defendants. Yieldify countersued Bounce Exchange, accusing its competitor of infringing on a patent that was not originally Yieldify's but was purchased by Yieldify from Intellectual Ventures.[14]

The two companies reached an undisclosed settlement in July 2016.[14]

References[edit]

  1. 1.0 1.1 1.2 1.3 Lunden, Ingrid. "UK's Yieldify Raises $11.5M From SoftBank And Google Ventures To Fix E-Commerce Conversions". TechCrunch. Retrieved 2016-07-23.
  2. Shead, Sam (25 June 2015). "Google Ventures backs London startups Yieldify and Lost My Name as it looks to cash in on Europe". Techworld. IDG. Retrieved 2016-07-23.
  3. Wauters, Robin (7 December 2015). "Google Ventures to discontinue its $125 million European fund". TechEU. Retrieved 2016-07-23.
  4. "INside Events: Yieldify's Prohibition Party". PerformanceIN. Retrieved 2016-07-23.
  5. "Yieldify Announces Opening of Office in Sydney". PerformanceIN. Retrieved 2016-07-23.
  6. Pires, Rafael (2015-09-08). "London-based Yieldify opens an office in Porto and is hiring". Retrieved 2016-07-23.
  7. "Euro tech special: Top 10 under 30". Financial Times. 2015-06-19. ISSN 0307-1766. Retrieved 2016-08-16.
  8. "[ Yieldify raises $6M in Series B ] – FundingSMEs l Startup News". www.fundingsmes.com. Retrieved 2017-10-13.
  9. Lunden, Ingrid. "Yieldify raises another $6M, appoints adtech vet John Giuliani as chairman". TechCrunch. Retrieved 2017-10-13.
  10. Olson, Parmy (25 June 2016). "Google, Softbank Put $11.5 Million Into London's Fastest Growing SaaS Company". Forbes. Retrieved 29 March 2018.
  11. "15 fast-growth UK start-ups added to Tech City's 'Future Fifty' - Startups.co.uk: Starting a business advice and business ideas". startups.co.uk. Retrieved 2016-07-23.
  12. PerformanceIN, Presented by. "Winners – Performance Marketing Awards 2015 28 April 2015". Performance Marketing Awards 2015. Retrieved 2016-07-25.
  13. "How to Win a PMA: Yieldify - Industry Choice of Publisher 2015". PerformanceIN. Retrieved 2016-07-23.
  14. 14.0 14.1 14.2 14.3 "Google-backed UK startup Yieldify is settling with the US rival that accused it of copying code". Retrieved 2016-07-23.


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