OpenWeb News
22 articles
After a legal battle with the board and investors, Nadav Shoval agrees to step down as CEO of OpenWeb, taking on a senior advisory position instead.
The judge cites a concealed resignation letter and confirms the board acted within its rights.
The District Court in Tel Aviv ruled against Nadav Shoval, co-founder of OpenWeb, confirming his lawful dismissal as CEO. Shovals request for an injunction was rejected due to his concealment of a resignation letter, which he had sent to the board in exchange for accelerated share options. The court ordered Shoval to pay legal expenses and criticized his application as improperly submitted. OpenWeb had appointed Tim Harvey as interim CEO two months prior, following Shovals removal. Shovals lawsuit against the board members and shareholders, alleging improper conduct, remains ongoing. The courts decision allows OpenWeb to proceed with its boards decisions, including appointing a new CEO.
Management Changes
Tel Aviv court orders OpenWeb to freeze ousting of CEO
OpenWeb, an Israeli open engagement platform unicorn, is embroiled in a legal dispute following the dismissal of its CEO and co-founder, Nadav Shoval. The Tel Aviv District Economic Court has temporarily suspended Shovals dismissal until a hearing at the end of the month. Shoval, who was replaced by Tim Harvey on September 9, claims his dismissal was unlawful due to an improperly convened board meeting. The courts ruling prevents OpenWeb from completing the dismissal process, including matters related to Shovals compensation. The company, led by investors Insight Partners and Georgian, has not responded to the situation. The case highlights ongoing management changes and investor disputes within the company.
Management Changes
Unicorn OpenWeb announces new CEO, but founding CEO refuses to step down | CTech
In a dramatic turn of events at Israeli unicorn OpenWeb, a boardroom clash has erupted as founder Nadav Shoval defies the companys decision to appoint board chairman Tim Harvey as CEO. Shoval accused the board of contract violations and undermining the company’s best interests. Despite Shovals resistance, Harvey announced his intention to proceed with the CEO transition. OpenWeb, which has over 100 million active users and 1,000-plus publishers, raised $170 million in Series F funding led by Georgian at a valuation of $1.5 billion in October 2022. The company remains committed to its mission of transforming online conversations despite the internal conflict.
Management Changes
אופן ווב חתמה על עסקאות בהיקף מאות מיליוני דולרים
Israeli unicorn OpenWeb has signed a deal to embed its system on four prominent sites in the US and UK. The sites include The Daily Beast, Arena Group, British media company Reach Plc, and community platform Fandom. The contracts are for several years, with a total volume of about $20 million per year, with the potential for $30 million per year. OpenWeb offers a platform for building communities on content sites, aiming to generate healthier and higher quality public discourse. The platform allows site owners to increase user involvement through interactive experiences and helps build brand awareness and improve monetization.
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OpenWeb acquires audience management platform Jeeng for $100 million | CTech
OpenWeb, an Israeli-founded unicorn, has acquired Jeeng, a proprietary audience management platform. Jeeng supports 150 million unique monthly visitors and over 650 publishers. The acquisition will allow OpenWeb to expand its user base and publisher network. OpenWeb raised $170 million in funding in October 2021, bringing its valuation to $1.5 billion. This is OpenWebs third acquisition in the past year, following the purchases of Hive Media and ADYOULIKE. Jeengs employees will be integrated into OpenWebs offices in New York City and Tel Aviv.
AcquisitionPartners
OpenWeb raises $170 million Series F at $1.5 billion valuation | CTech
OpenWeb, an Israeli startup that developed a community engagement platform, has raised $170 million in Series F funding led by Georgian, valuing the company at $1.5 billion. The funding brings the total raised by OpenWeb to $393 million. The companys platform is used by top publishers like The New York Times and News Corp. to foster quality conversations and gain independence from traditional social media. OpenWeb recently reduced its R&D activity in Israel and transferred management to the United States, resulting in the firing of 14 development workers. In addition to the funding, OpenWeb also announced the acquisition of advertising platform ADYOULIKE for $100 million.
InvestmentManagement ChangesLayoffs
OpenWeb announces streamlining plan including layoffs
OpenWeb, an Israeli media readership engagement management platform, is implementing a streamlining plan that includes moving its head office from Israel to New York, laying off 14 development staff, and cutting work hours and salaries. The plan involves reducing the work week in Israel for 100 development staff to four days, with a potential 20% salary cut for those who do not meet their targets. As part of the move, 14 development staff will lose their jobs in Israel, with 14 people hired to replace them in the US. The streamlining plan is aimed at preparing the company for a potential IPO in 2023 or 2024. OpenWeb raised $150 million in November 2021 at a valuation of $1 billion. The companys platform is used by over 1,000 publishers and has more than 100 million monthly users.
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OpenWeb Acquires Global Advertising Platform ADYOULIKE For $100M
Israeli firm OpenWeb has announced the acquisition of ADYOULIKE, a global advertising platform, for a total value of $100 million. The acquisition will connect OpenWebs network of publishers with ADYOULIKEs technology, enhancing OpenWebs position as an operating system for the open internet. ADYOULIKE works with over 4,000 brands, agencies, and publishers and has an established reputation in the European market. Following the acquisition, Julien Verdier, co-founder of ADYOULIKE, will join OpenWebs executive team as the General Manager of Advertising. ADYOULIKEs employees will also join OpenWeb, expanding the companys global headcount to nearly 300.
AcquisitionPartners
OpenWeb acquiring Hive Media Group for $60 million
Israeli company OpenWeb has acquired Hive Media Group, a U.S. digital publisher and engagement platform, in a deal valued at $60 million. The acquisition will enhance OpenWebs ability to build and test innovative products for publishers, particularly in enabling first-party data relationships and increasing long-term value. Hive Media Group will operate as an independent business unit within OpenWeb, with its CEO and COO remaining in their positions. OpenWebs global headcount will reach over 225 with this acquisition.
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OpenWeb raises $150m at over $1b valuation
OpenWeb, a media readership engagement management platform, has raised $150 million in a Series E financing round, valuing the company at over $1 billion. The investment was led by Insight Partners and Georgian Partners, with participation from other investors including The New York Times Company, Dentsu, and Samsung Next. OpenWebs platform is used by over 1,000 publishers, and the funding will be used to further develop the platform and empower publishers and brands to build first-party data relationships with their audiences. OpenWeb also plans to expand its global presence and explore strategic acquisitions. The company aims to improve online conversations and provide safer experiences across different verticals and markets.
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לא עשה בגרות אבל הקים חברה של מאות מיליונים: "דחפו לי רטלין"
OpenWeb, a platform aimed at improving the quality of conversation on social networks, has partnered with GDI to combat hate speech and fake news. The company, which has over 100 employees in Israel and the US, has raised $70 million to date. OpenWeb works with over a thousand publishers, including Yahoo, Fox News, and TechCrunch. The company, currently private, has plans to go public in the future. OpenWebs CEO, a 30-year-old based in New York, has ambitions to make the company one of the largest internet companies alongside Google and Facebook.
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OpenWeb Becomes First Publisher Audience Development to Partner with the Global Disinformation Index
OpenWeb has announced a partnership with the Global Disinformation Index (GDI) to vet its publisher partners against evaluations of journalistic integrity. The partnership aims to create a more civil and healthier web by working with GDI to disrupt disinformation sites. OpenWeb has already eliminated 13 publisher partner domains that did not meet its standards and will terminate relationships with an additional 37 by the end of August. The partnership with GDI will provide OpenWeb with a better toolset to empower publishers that align with its standards. GDI uses human-powered analyses and AI to assess the risk of disinformation. OpenWeb works with over 1000 publishers and has 100 million active users each month.
Partners
Talkback platform Spot.im is rebranding and cracking down on online toxicity
Audience engagement and commenting platform Spot.IM, now renamed to OpenWeb Inc., has introduced new solutions to improve online conversations and curb hateful content in the comment section. The company aims to reform online communities by implementing a quality scoring system, a points system to improve the reputation of commenters, and real-time feedback for users. OpenWeb is used by more than 100 million monthly active users across more than 700 publishers.
Customers
Bucking the Trend, Spot.IM Announces Major Employee Recruitment
Spot.IM Ltd. announced plans to recruit 100 employees in order to expand its teams and complete its growth plan. The company, which develops technology for online discourse, is mainly recruiting people in the field of data, but other roles will also be offered. Spot.IM is funded by people and companies that believe in its unique solution. The decision to hire comes at a time of economic crisis, but the company is more active than ever. Spot.IM supports news sites and urges companies to join forces to solve the crisis. Founded in 2012, Spot.IM currently employs 200 people and has raised a total of $65 million in funding from investors including Insight Partners, AltaIR Capital, and Norma Investments.
Expand
Spot.im raises $25 million for community creation and moderation tools
Spot.im, a provider of cloud-based community creation and moderation tools, has secured $25 million in series D financing. The funding round was led by Insight Venture Partners and brings the companys total funding to $63 million. Spot.ims software-as-a-service solution allows websites and apps to deploy their comments section and moderation tools easily. The company also offers products for recycling popular content, monetizing advertising, and hosting community and product review pages. Spot.im aims to provide publishers with a sustainable business model that focuses on delivering value and a positive user experience.
Investment
We Have Upgraded Our Commenting System MetalSucks
MetalSucks has partnered with Spot.IM to upgrade their commenting platform, providing a faster and more user-friendly experience. The partnership allows for the migration of old Disqus user accounts and comments to the new system. The switch to Spot.IM is expected to have a positive impact on the growth of MetalSucks. Spot.IMs moderation tools will also help in keeping the comments section free of abuse.
Partners
https://www.jpost.com/Jpost-Tech/Tech-Talk-SpotIM-keeps-us-safe-545007
Spot.IM has launched a program to combat distributors of harmful content by sharing information in real time with companies specializing in Internet safety. The program aims to block the distribution of offensive content on news sites. Spot.IM develops web tools that add a social dimension to news sites and has products installed in thousands of content sites. The company has raised $37 million in funding and employs 50 people in its offices in Tel Aviv, London, and New York. The article also mentions Qwilt, a provider of content delivery and open-video caching solutions, and Glassbox, a company that captures and analyzes customer digital sessions.
PartnersCustomers
Tel Aviv-Based Startup Seeking Regulatory Nod to Pay Employees in Bitcoin
Social engagement startup Spot.IM is seeking approval to compensate employees with bitcoin. The company hopes to offer employees the option of getting paid at least a portion of their wage in cryptocurrency. Spot.IM has been in contact with the Israeli Tax Authority regarding the issue. The Israeli Ministry of Industry, Trade and Labor is also looking into the matter. Spot.IM is a social engagement system for the online publishing industry and has raised $41 million to date. Investors include Norma Investments Ltd. and AltaIR Capital.
Management ChangesInvestment
Social engagement platform Spot.IM raises $25m
Israeli social engagement platform Spot.IM has closed a Series C financing round of $25 million led by Insight Venture Partners. The financing will be used to fund Spot.IM’s global expansion and further investment in its publisher engagement platform. Spot.IM enables publishers to increase and monetize social engagement on their own sites. Since its Series B round, Spot.IMs presence on publisher sites has doubled, reaching billions of monthly page views and over 400 million subscribers. The company currently provides its technology to 70% of the top U.S. media players.
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Introducing Spot.IM, EW's new commenting platform
EW.com has launched Spot.IM, a new commenting system to improve user experience on their website. The new features include a sleeker design, up-vote and down-vote options, and the ability to embed GIFs, videos, and images to comments. Spot.IM also comes with a newsfeed for users to see what commenters are saying on other parts of the site. Users can set up a Spot.IM account via Facebook, Twitter, or email for a more personalized experience.
Customers
Spot.IM Turns Any Site Into A Social Network
Spot.IM, founded by Nadav Shoval and Ishay Green, aims to turn any website into a social network with two lines of code. The company allows site owners to have more control over the management and monetization of their traffic. Spot.IMs beta version is currently used on about 1,000 sites, generating over 250,000 registered users and over 2 million messages sent last month. The company is in talks with investors and focusing on adding more features to enhance the community experience.
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