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Facebook is not alone: ​​the companies that succeeded with the new name

Last week, Facebook examined the possibility of changing the name and became the network's joke.

But Facebook is not alone: ​​many companies have changed their name due to a change in activity, image problems and sometimes even just to innovate and keep up to date.

We turned to some companies that changed the name to see what the results were

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Walla!

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Monday, 25 October 2021, 09:06 Updated: 10:54

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It was not the month of Mark Zuckerberg and his Facebook.

The man who changed the way we communicate from end to end became a target for regulatory investigations - from the US Senate, through Europe to Israel, then came the glitch that shut down his membership services for hours like them forever - and then came the name-changing farce.

Although Facebook has become a punching bag for surfers, there are quite a few companies that have changed the oil for a variety of reasons - and some of them are even happy with the new name.

We went out to see what could be done, with the help of the name of course.

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Hila Shitrit Nissim, CMO of BLEND (Photo: BLEND)

From One Hour Translation to BLEND

• Hila Shitrit Nissim BLO of CMEND says that "we changed the name from One Hour Translation to BLEND because we made a strategic change in the company's vision and product and it was important to us that the name reflected it."

From fast translations to everyone, the company has become a provider of technology-based translation and localization services to large and medium-sized companies. BLEND empowers global brands and enables them to establish a local presence in various markets around the world by removing language and culture barriers

.

The environment really liked the change.The previous name was both a bit long and also perceived as something fast and "cheap" while BLEND with the new branding presents a much more professional and broad value proposition.

The employees really liked the name and connected to it and so did the customers and from a business standpoint the name change resulted in an increase in leads and inquiries we received from large customers just as we had hoped.

This of course also resulted in revenue growth of about tens of percent from quarter to quarter.

We are very pleased with the decision to change the name and rebrand and are currently closing the site with the previous name.

Ronen Salomon, CEO of Altshare (Photo: Altshuler Marketing Shaham Benfits)

Altshuler Shaham Benffit to Altshare

• Altshuler Shaham Benfits (from the Altshuler Shaham Group) recently changed the company's name to Altshare.

Altshare is a leading company that specializes in loyalty solutions and smart equity management for the high-tech industry, develops and operates a technology platform for managing high-tech securities from end to end - from issuing securities, through managing all the company's compensation plans and capital tables to liquidation and trading of securities.

The decision to change the name recently was due to the fact that the company also started operating abroad and made a change in the company's product range. The

company is very pleased with the decision to change the name and among the environment (employees, customers, suppliers).

Nadav Shoval, Founder and CEO of OpenWeb (Photo: openweb)

From SPOT.IM to OpenWeb

• The change of SPOT.IM to OpenWeb:

In the beginning, the company was called SPOT.IM when it was involved in building online communities. When they called themselves SPOT.IM, they moved from the worlds of individuals, to the worlds of Publishers. The understanding was that Publisher is a fertile ground for community creation, by the very fact that people with common interests, surf the same sites. The stage they wanted to give to the discourse was a kind of Spot light and thus the name SPOT.IM was created.

Over the years and with the company's success, about a year and a half ago, SPOT.IM changed the name to OpenWeb and rebranded themselves. Their task today is to improve online conversations, to fight hatred and Pike-News.

OpenWeb wanted the name to contain the most important task of the company, and that is to strengthen the open Internet, which exists outside the monopolistic worlds of social networks.

Today, OpenWeb has more than 150 employees, has raised about $ 70 million to date and employs more than 1,000 top-notch publishers, including Yahoo, Fox News and TechCrunch.

The company strives to revolutionize the world of talkbacks and the international communications market and its main goal is to improve the quality of discourse on networks.

"OpenWeb" improves the quality of discourse on social networks, filters out abusive and violent talkbacks and produces a matter-of-fact discourse on the margins of articles, a kind of universe parallel to that of Facebook.

Eli Peretz, ASTERRA (Photo: Michal Bendek)

From Utilis to ASTERRA

• The name Utilis, which was correct at the time when most of the customers the company approached was in the water corporations market, does not reflect the full technological potential of the company. The technology has additional applications in the context of ground infrastructure such as railway tracks, roads, canals and dams.

The name ASTERRA consists of a combination of the Latin words Asrta for stars and Terra - Earth, which puts the company in the right place: a technology based on satellite information.

The reactions to the new branding have been extremely positive and there is a general feeling of excitement. In our case, as a company that works with clients and partners all over the world, the biggest challenge was explaining the change. To this end, we have held quite a few webinars and recently face-to-face meetings, and have allowed a sufficient transition period for adjustment.

It is important to say, the water corporations market has been and will remain an important market and we will continue to be dominant in it, at the same time we are expanding in other directions.

The veteran employees, whose identification with the previous brand was deep, had difficulty - but the rationale and success of the new branding softened the difficulty.

We're only a few months in the process, but for us it's a success.

We recently launched another product, Earthworks Rail, which is intended for the railway infrastructure market.

With the start of marketing of this product, the launch of the new brand turns out to be essential.

Tut Shani, CEO and Founder of Sharona Partners (Photo: PR)

From Bouaziz & Partners to Sarona Partners

• When the activity of a group of Sarona Partners began, a group called Bouaziz & Partners - for that was the investment fund family of Philip Boaziz (team chairman today), and BBQ joint work operated by the company called B & P Spaces.

"In the middle of 2017, more investors began to join in the activities Our investments. And the work complex has expanded to another location, "says Tut Shani, the group's CEO. "We decided to choose a name that would differentiate from the family investment activity, and express the company's aspiration to be an ecosystem that connects the leading players in the field of high-tech, acceleration and investment in Israeli startups - and that is where Sharona was born."

The Sharona Partners Group works in a variety of ways to support and promote Israeli growth startups. The group operates three main legs: acceleration programs from seed to round B, venture capital funds and corporate innovation.

The group also operates joint work complexes in Haifa, Tel Aviv, Kfar Saba, New York and Ofakim.

"The name change was received with love. The name Sharona went into relative action at the beginning of the company's path. The name Sharona is one with our work and our mission to grow Israeli startups."

They used to be playbase.

EX.CO offices (Photo: PR)

From Playbuzz to EX.CO

Playbuzz did an interesting rebranding process two years ago and changed its name to EX.CO. Today the company is the world's leading platform for interactive website experiences, changing the way companies communicate with their users of digital assets.

The name change came as part of the realization that the name Playbase, which broadcasts gameplay and was highly associated with the viral quizzes that prompted the company in its infancy, no longer represents the nature of the business and the fact that the company works with huge clients around the world. The intention was to produce a more technological, mature and representative branding that represents the real DNA of the company - EX.CO - The Experience Company.

2 How did the environment react to the name change? In Israel - the company's employees, suppliers and customers from the media world, were very connected to the name Playbuzz, but in the United States and in the major markets in which the company operates, there was less power for the original branding and the change was easier. The process of change took time, but helped greatly to communicate the truly significant development - in the company's identity and business model.

On the day the company announced the change, some of its customers called the company’s employees and asked if Playbase had been bought by a larger company called EX.CO. From that moment it was clear that the branding worked - and the new identity does appear to be mature and stronger than the original.

At Playbase, sorry, Ex-Co are very pleased, mainly thanks to the impact with local and global customers - customers who previously hesitated to be identified with the company in press releases or public case studies, were suddenly happy to collaborate and be identified with EX.CO.

Other customers who previously assumed that the company's technology only allows the creation of viral content for young people - realized that this is a much deeper and more significant solution, which provides a more complete solution for brands and content sites.

Today, companies can use the platform to create interactive experiences that not only increase user engagement at every point in their journey on the site, but also significantly increase conversion rates, and generate data and insights for marketing purposes.

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