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OpenWeb

OpenWeb is a social engagement platform that builds online communities around digital content.[1] OpenWeb works with publishers to bring conversations back from social networks to publisher sites.

OpenWeb's technology allows publishers and online content creators to host and moderate comments sections, Polls, "Ask Me Anything"s and Live Blogs. Their products also include a module that allows users to track topics, an insights dashboard, and several advertising modules.

History

The company was founded in 2015 as Spot.IM by Israeli software architects Nadav Shoval and Ishay Green.[2] Roee Goldberg joined as Co-Founder and COO in 2014.[3]

In 2016, Spot.IM raised $13 million from Index Ventures and AltaIR Capital, along with other notable technology investors, in a Series A round.[4]

In 2017, co-founder and CEO, Nadav Shoval, was inducted into the second annual Forbes Israel 30 Under 30 list.[5] In addition, the company finalized its Series C investment round of $25M, led by New York City-based fund - Insight Partners, Altair VC, and more.[6][7]

In 2019, Spot.IM raised $25 million in Series D funding.[8] The new funding was led by previous investor Insight Partners along with Norma Investments, AltaIR Capital, Cerca and WGI Group.[8]

In 2020, the company was renamed OpenWeb.[9]

In November 2021, OpenWeb raised a $150M Series E financing round which included investment from Insight Partners, Georgian, The New York Times Company, Samsung Next, Dentsu Ventures, Harel, Entrée Capital, Omer Cygler, and Scott Galloway. This round of investment pushed the company's valuation over $1 billion.[10] In November 2022, OpenWeb announced a Series F round of funding at $170M, valuing the company at over $1.5 billion.[11]

In February 2022, the company acquired Hive Media Group for a mix of cash and stock, with a total value of $60M.[12] In April 2022, OpenWeb acquired French advertising company Adyoulike for a mix of cash and stock, with a total value of $100M.[13] In January 2023, OpenWeb acquired personalization and monetization platform Jeeng.[14]

The company has also been criticized for providing advertising services to Steve Bannon's far-right publication The Populist Press (now Political Signal), as well as Russian state media outlet RT. It cut ties with RT in 2023.[15]

In September 2024 Nadav Shoval was replaced by Tim Harvey as CEO, purportedly after a disagreement over a potential investment from BlackRock.[16] Nadav Shoval refused to step down as CEO, but he was removed from OpenWeb's leadership page.[17] Shoval attempted to be reinstated as CEO by filing an injunction with an Israeli court, however he was unsuccessful.[18]

In February 2025, Nadal Shoval was allowed to return to OpenWeb as an advisor to the CEO.[19]

See also

  • Internet forum
  • List of social networking websites
  • Online community
  • Social networking service
  • Website monetization

External links

References

  1. Catherine Shu. Spot.IM Turns Any Site Into A Social Network 22 October 2014, retrieved 2017-07-05^
  2. Krawitz, Alan. Israeli Tech Start-up Spot.IM Enables Publishers To Turn Visitors Into a Community Mediabistro, 24 October 2014, retrieved 28 October 2014^
  3. Who we are OpenWeb, retrieved 2020-06-25^
  4. Spot.IM grabs $13 million to solve your website's most pressing engagement problem VentureBeat, 2016-08-03, retrieved 2017-07-05^
  5. Forbes Corporate Communications. Forbes Announces Second Annual Forbes Israel 30 Under 30 List, Highlighting the Accomplishments of 60 Game Changers from Across Israeli Society Forbes, retrieved 2017-07-05^
  6. Spot.IM Closes $25 Million Series C Led by Insight Venture Partners MarketWatch, 2017-11-29, retrieved 2017-11-29^
  7. Spot.IM raises $25 million for a better comments section TechCrunch^
  8. Spot.IM raises $25M to help publishers engage with readers TechCrunch, 30 April 2019, retrieved 2020-06-26^
  9. Spot.IM is Now OpenWeb PR Newswire, 2020-06-24^
  10. Sara Fischer. Exclusive: Backed by NYT, OpenWeb becomes a tech unicorn Axios, 2021-11-09, retrieved 2022-04-20^
  11. OpenWeb. OpenWeb Raises $170 Million In Series F as it Continues Rapid Expansion with $1.5 Billion Valuation www.prnewswire.com, retrieved 2023-02-07^
  12. OpenWeb Makes Strategic Acquisition of Hive Media Group, Providing More Value to Premium Publishers PR Newswire, 2022-01-19^
  13. Megan Graham. OpenWeb, Which Aims to Help Publishers Connect With Their Readers, Buys French Ad Firm for $100 Million Wall Street Journal, 2022-04-12, retrieved 2022-04-18^
  14. OpenWeb Supercharges Community Economy with $100 Million Acquisition of Jeeng PRNewswire, 2023-01-26, retrieved 2023-01-26^
  15. Nandini & Claire. OpenWeb's secret relationship with Steve Bannon checkmyads.org, 2023-11-06, retrieved 2025-02-20^
  16. Lara O'Reilly. OpenWeb's ousted CEO who refused to quit speaks exclusively with BI about his battle with the board Business Insider, retrieved 2025-02-19^
  17. Connie Loizos. Drama at OpenWeb, as a new CEO is announced – and the founding CEO says he's staying TechCrunch, 2024-09-12, retrieved 2025-01-24^
  18. Mark Stenberg. OpenWeb Founder Loses Court Appeal Over Dramatic Ousting 2024-11-15, retrieved 2025-01-24^
  19. Lara O'Reilly. OpenWeb's ousted founder and CEO is back at the tech company in an advisor role after a messy boardroom battle Business Insider, retrieved 2025-02-19^