Similarweb Ltd Stock Price, News & Analysis

Similarweb (NYSE: SMWB) has appointed Joe Del Preto, a seasoned executive with substantial experience in SaaS marketing solutions, to its board of directors. His expertise includes previous roles as CFO at Sprout Social and Global Controller at Groupon. CEO Or Offer emphasized Del Preto's capability to help drive Similarweb's mission to enhance digital business growth. This leadership change comes at a pivotal time for the company, enhancing its strategic direction as it continues to support businesses navigating digital markets.

Ermetic, a leader in cloud infrastructure security, has appointed Avi Israel as CFO. Israel, previously at SimilarWeb (NYSE: SMWB), played a key role in its billion-dollar IPO. The company has successfully raised $100M, including $70M in its latest Series B financing. Ermetic's technology focuses on reducing the attack surface of cloud infrastructure and enforcing least privilege at scale, positioning it well in the cloud security market. CEO Shai Morag emphasized Israel's experience as crucial for managing the company's rapid growth.

Similarweb has launched a free website-ranking API to assist Alexa.com users following Amazon's decision to discontinue the service in May 2022. This API is part of Similarweb's broader initiatives aimed at capturing the market share left by Alexa. By registering, users gain access to Similarweb DigitalRank(TM) and analytics tools that provide real-time competitive insights and benchmark website performance. The company positions itself as a leader in digital intelligence and promises enhanced data accuracy for strategic decision-making.

Similarweb (NYSE: SMWB) has enhanced its Sales Intelligence solution with the launch of a global database called Contacts, featuring over 400 million professional contacts. This addition enables sales teams to improve targeting and connection with prospects, particularly in e-commerce and digital media. The platform integrates into existing sales workflows, allowing users to segment leads and enrich CRMs with web traffic data. Trusted by over 450 companies worldwide, Similarweb aims to empower organizations with data-backed insights to drive smarter sales strategies.

Similarweb (NYSE: SMWB) has expanded its Shopper Intelligence platform to include insights on sales and market performance for Walmart, Target, Best Buy, and Chewy, in addition to Amazon. This enhancement, launched in July 2023, provides comprehensive data on approximately 78% of all sales volume from the top ten U.S. online retailers. The initiative aims to address the visibility issues faced by consumer brands in monitoring competitive performance. The company asserts that they are on track to becoming the standard for digital retail insights.

Similarweb Ltd. (NYSE: SMWB), a digital intelligence leader, announced its leadership team will present at key investor conferences. The events include the 5th Annual Virtual Wells Fargo TMT Summit on December 1, 2021 and the Barclays Global Technology, Media and Telecommunications Conference on December 7, 2021, featuring a fireside chat at 4:45pm ET. The chat will be webcast live on the company's investor relations page, with a replay available later.

Similarweb Ltd. (NYSE: SMWB) reported a 46% year-over-year revenue growth in Q3 2021, totaling $35.6 million. The company now exceeds $150 million in ARR, with a 122% net retention rate for customers with ARR of $100K or more. Customer count grew by 48%, bringing the total to 245 high-value clients. Despite a GAAP operating loss of $(16.7) million, the firm raised its full-year revenue guidance for 2021. Total revenue outlook for Q4 is $37.5 million to $37.9 million, driven by increasing demand for its digital intelligence solutions.

Similarweb (NYSE: SMWB) has announced the acquisition of Embee Mobile, a leading provider of mobile insights based in San Francisco. This acquisition aims to enhance Similarweb's mobile app intelligence by leveraging Embee’s extensive metered panel data, allowing for deeper insights into mobile app behaviors and customer journeys. Similarweb anticipates that this integration will provide a comprehensive view of consumer behavior across platforms, further solidifying its position as a digital measurement leader. Financial terms of the acquisition remain undisclosed.

Similarweb (NYSE: SMWB) has announced the opening of two new offices in Munich, Germany, and Kyiv, Ukraine. This expansion highlights the company's growth in Europe, especially following its IPO in May. The Munich office will focus on commercial, marketing, and technical roles, while the Kyiv office is projected to become a key R&D center, growing from 50 to over 150 professionals in two years. Similarweb aims to enhance its digital intelligence solutions and accelerate global expansion.