OpenWeb, an Israeli startup that develops an audience relationship platform, has acquired Hive Media Group, a U.S. digital publisher and engagement platform, for $60 million.
OpenWeb certainly has the cash on hand for such an acquisition. The company
Raised 150 million in Series E financing round led by Insight Partners and Georgian Partners last November. That raise put OpenWeb into the coveted unicorn club, a startup with a $1 billion or higher valuation. OpenWeb has raised $220 million to date.
Founded in 2016 by Daniel Sagis, Guy Yeshua and Stacy Abraham, Hive Media develops ad-tech and publishing technologies capable of collecting and analyzing real-time user data. Hive Media Group’s technology powers over 50 million sessions per month across dozens of web properties.
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Founded in 2012 by CEO Nadav Shoval and originally called Spot.IM, COO Roee Goldberg and Ishay Green, OpenWeb helps publishers gain independence from traditional social media by “fueling millions of high-quality conversations” across thousands of communities with more than one hundred million monthly users. OpenWeb boasts that its platform offers engagement and conversion funnels that turn casual readers into a community of loyal, active, registered users.
We’re excited to announce that OpenWeb has acquired Hive Media—a company at the cutting edge of publisher tech. With their expertise on board, we’ll continue innovating to move the needle for our partners. Learn more in our latest blog at https://t.co/yfR0Kux5fm pic.twitter.com/PQLZeDjHdb
— OpenWeb (@OpenWebHQ) January 19, 2022
“We are thrilled to welcome Hive Media to the OpenWeb team,” said Nadav Shoval, CEO and co-founder of OpenWeb. “Right now, publishers are looking for the best technology available to improve revenue and own the relationships with their audiences. With this acquisition, we’re doubling down on these efforts, building even greater capacity for innovation and value to our publishing partners, who aim to have more connection with their audiences.”
“We have known and admired OpenWeb and their leadership team for many years,” said Guy Yeshua, at Hive Media Group. “Our missions are aligned—coming together only makes our efforts to improve digital experiences for publishers and users that much stronger. As we forge a new path together with OpenWeb, we look forward to creating new, powerful tools that empowers publishers.”