The Israeli OpenWeb, which developed a platform for building communities on content sites with the aim of producing a public, healthy and higher quality discourse, announced today (Thursday) the purchase of the user management platform Jeeng for an estimated amount of 100 million dollars.
Jeeng's unique development, which serves over 650 content creators, helps users have a personalized content experience on a wide variety of digital content platforms.
The Jeeng company was established in 2010, and currently supports 150 million monthly users on content sites, such as: VICE Media, The Atlantic, Crain's, HarperCollins and Vox Media.
The unique development of Jeeng allows content sites to convert temporary users of the site into permanent users, which strengthens the relationship with them directly.
The acquisition will allow OpenWeb to expand its user base, which includes approximately 100 million active users from approximately 1,000 significant content sites, including: The New York Times, Hearst, Yahoo!
and more.
"Connect to hundreds of millions of users"
Jeeng's unique artificial intelligence platform positions OpenWeb as a B2B2C platform for content sites and advertisers, with the goal of creating more meaningful content experiences for the user audience.
"This acquisition brings OpenWeb closer to achieving the goal of giving content websites and publishers the ability to connect with hundreds of millions of users on every online platform they are on, through personal messaging, e-mail, news and content websites, interactive conversations, and more," says Nadav Shovel, CEO and co-founder of OpenWeb.
"With the decline of cookie use, the collapse of user trust in social media and the increasing use of user segmentation by companies, content sites and publishers need to speak to their users in a personalized way. With Jeeng's capabilities, we can continue to build and strengthen these personal connections and increase the value that We give the sites the content."
"Every day, users experience a large load of messages addressed to them on the networks, and content sites need to make unique adjustments to their readers and provide high-quality and relevant content," said OpenWeb's CFO, Haim Sasson. "Making this purchase will allow content sites and publishers to free themselves from dependence on social networks And it will allow them to establish a more accurate and high-quality connection with new audiences on the network."
"OpenWeb and Jeeng are a perfect fit because we share the same vision," said Jeff Kopiecki, CEO of OpenWeb.
Jeeng leads the field of creating communities on content sites and in creating innovative and safe social experiences.
Our specialty at Jeeng is in providing personalized service.
Now, as one company, we will be able to provide a new and unique user experience that will meet the needs of all content sites and advertisers."
This purchase joins the two previous purchases and will be the third in number for OpenWeb within a year;
In January 2022, OpenWeb purchased the Hive Media company for $60 million, a purchase that strengthened the company's capabilities and made it possible to produce innovative products for the purpose of strengthening the connection between users and the content sites.
In April 2022, the company ADYOULIKE, which provides a technological platform for digital advertising, was acquired for 100 million dollars.
Additionally, OpenWeb just recently raised about $170 million in an F funding round, bringing its total valuation to $1.5 billion.
60 Jeeng employees will be integrated into OpenWeb in the offices in New York and Tel Aviv.
The transaction was accompanied by the American investment bank JMP Securities on behalf of the Jeeng company.
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