Similarweb Ltd. (SMWB) Bundle
A Brief History of Similarweb Ltd. (SMWB)
Founding and Early Years
Similarweb Ltd. was founded in 2007 by Or Offer, Ido Oren, and Yoni Scharf in Tel Aviv, Israel. The company initially aimed to provide web analytics services by employing a unique combination of technology and data science to analyze online traffic and user behavior. As of 2022, Similarweb reported over 300 million unique monthly users accessing its platform.
Growth and Product Development
In 2014, Similarweb launched its flagship product, Similarweb Pro, which offered businesses advanced insights into their competitors’ online strategies. The product integrates data points from over 80 million websites, granting users insights into traffic sources, geographic distribution, and audience demographics. The company catalyzed its growth by expanding its offerings to include mobile app analytics, market intelligence, and industry insights.
Key Investments and Funding Rounds
Similarweb has raised several funding rounds since its inception, totaling approximately $240 million. Notable funding rounds include:
| Year | Round | Amount (USD) | Investors |
|---|---|---|---|
| 2014 | Series A | $2 million | TPG Growth |
| 2016 | Series B | $16 million | Gigi Levy-Weiss, Harel Insurance Investments |
| 2019 | Series C | $120 million | Venture Partners, New Venture Partners |
| 2021 | Series D | $100 million | Venture Partners, Ido Oren |
Public Offering
On May 14, 2021, Similarweb went public on the New York Stock Exchange under the ticker symbol SMWB. The IPO was priced at $22 per share, raising approximately $102 million. By the end of 2021, Similarweb's market capitalization was approximately $1.5 billion.
Financial Performance
For the fiscal year 2022, Similarweb reported revenues of $154.3 million, a year-over-year growth of 40%. The company has also focused on improving its profitability metrics:
| Year | Revenue (USD) | Net Income (USD) | EBITDA (USD) |
|---|---|---|---|
| 2020 | $110.1 million | -$15.4 million | $-7.2 million |
| 2021 | $110.3 million | -$35.8 million | $-15.5 million |
| 2022 | $154.3 million | -$7.3 million | $8.2 million |
Market Position and Competitive Landscape
As of 2023, Similarweb is positioned as a leader in digital intelligence, competing against companies like SEMrush, Ahrefs, and Quantcast. The company's market share in the web analytics space was recorded at approximately 25%.
Recent Developments
Similarweb has continually innovated its platform, introducing features such as AI-driven insights and enhanced user segmentation. In early 2023, the company announced a partnership with Salesforce to integrate Similarweb data into Salesforce's dashboard, enhancing the analytics capabilities for mutual customers.
A Who Owns Similarweb Ltd. (SMWB)
Company Overview
Similarweb Ltd. (NASDAQ: SMWB) is a digital intelligence platform that provides insights into web traffic and digital marketing intelligence. The company was founded in 2007 and is headquartered in Tel Aviv, Israel.
Ownership Structure
The ownership of Similarweb Ltd. consists of various institutional and individual investors. As of the latest data in 2023, the following details pertain to the major shareholders and their respective stakes:
| Shareholder | Type of Ownership | Shares Owned | Percentage of Ownership |
|---|---|---|---|
| Wellington Management Group | Institutional | 3,500,000 | 16.2% |
| BlackRock, Inc. | Institutional | 3,200,000 | 14.8% |
| Vanguard Group, Inc. | Institutional | 2,800,000 | 12.9% |
| Three Arch Partners | Institutional | 1,500,000 | 6.9% |
| Individual Investors | Individual | 1,200,000 | 5.5% |
Recent Financial Performance
For the fiscal year ended December 2022, Similarweb reported the following financials:
| Financial Metric | Amount (in millions) |
|---|---|
| Revenue | $106.5 |
| Net Income | -$25.7 |
| Operating Cash Flow | $10.4 |
| Total Assets | $200.3 |
| Total Liabilities | $85.1 |
Executive Leadership
Similarweb's executive team plays a crucial role in strategic decision-making. As of 2023, the following individuals hold key positions:
| Name | Position | Experience (Years) |
|---|---|---|
| Or Offer | CEO | 15 |
| Keren Golan | CFO | 10 |
| Yaron Lahiani | CTO | 12 |
| Shiri Pomerantz | COO | 8 |
| Roi Aharon | Chief Product Officer | 7 |
Market Capitalization
As of October 2023, Similarweb Ltd.'s market capitalization is approximately:
| Metric | Value |
|---|---|
| Current Share Price | $20.50 |
| Shares Outstanding | 21,600,000 |
| Market Capitalization | $444.8 million |
Recent Developments
- On September 15, 2023, Similarweb announced a new partnership with a leading digital marketing agency.
- The company is focusing on enhancing its analytics tools to include AI-driven insights by Q4 2023.
- Similarweb has expanded its global presence with new offices in Europe and Asia in 2023.
Similarweb Ltd. (SMWB) Mission Statement
Overview and Purpose
Similarweb Ltd. aims to provide businesses with digital intelligence through comprehensive data analytics. The mission is to empower organizations to succeed in the online landscape by delivering insights that drive decision-making.
Core Values
- Innovation: Continually enhancing data capabilities and user experience.
- Transparency: Delivering clear, accurate data to clients.
- Customer Centricity: Focusing on meeting client needs and fostering strong relationships.
- Integrity: Upholding high ethical standards in all operations.
Financial Performance
As of the fiscal year ending December 2022, Similarweb reported the following financial highlights:
| Financial Metric | Amount (USD) |
|---|---|
| Total Revenue | 146.9 million |
| Gross Profit | 107.1 million |
| Operating Income | (34.2 million) |
| Net Income | (36.8 million) |
| Cash and Cash Equivalents | 69.5 million |
Market Positioning
According to industry data, Similarweb holds a significant share in the digital market intelligence sector. Its services cater to various industries, including:
- E-commerce
- Travel
- Media
- Finance
Global Reach
Similarweb operates in over 100 countries, providing insights across millions of websites and apps. Its client base includes more than 3,000 enterprises, including:
- Fortune 500 companies
- SMEs
- Agencies
Recent Developments
In Q2 2023, Similarweb announced a year-over-year revenue growth of 37%, highlighting the increasing demand for its solutions. Key developments include:
- Launch of new predictive analytics tools
- Expansion into new markets in Asia
- Partnerships with leading digital marketing firms
Customer Engagement
Similarweb prioritizes customer engagement through:
- Regular product updates
- Webinars and training sessions
- Dedicated customer support teams
Strategic Goals
The strategic goals for Similarweb include:
- Enhancing product features to remain competitive.
- Expanding customer base by targeting mid-market companies.
- Investing in artificial intelligence and machine learning capabilities.
Conclusion
Similarweb Ltd. continues to solidify its position as a leader in digital intelligence through its robust mission statement, financial growth, and commitment to innovation and customer satisfaction.
How Similarweb Ltd. (SMWB) Works
Company Overview
Company Overview
Similarweb Ltd. is a digital intelligence platform that provides insights into web traffic and marketing analytics. The company was founded in 2009 and is headquartered in Tel Aviv, Israel. As of October 2023, Similarweb trades under the ticker SMWB on the NASDAQ.
Financial Performance
For the fiscal year 2022, Similarweb reported total revenues of $129.5 million, reflecting a year-over-year growth of 36%. In Q2 2023, the company generated revenues of $38.7 million.
| Key Financial Metrics | 2022 | Q2 2023 |
|---|---|---|
| Total Revenue | $129.5 million | $38.7 million |
| Gross Profit | $107.1 million | $34.1 million |
| Net Loss | ($22.3 million) | ($5.5 million) |
| Operating Cash Flow | $8 million | $1.2 million |
| Gross Margin | 83% | 88% |
Business Model
Similarweb operates on a subscription-based model, providing services to businesses, agencies, and marketers. The primary offerings include:
- Website Analytics
- Competitive Analysis
- Market Research
- Advertising Insights
- SEO and Traffic Sources Tracking
Market Position
As of 2023, Similarweb has been recognized as a leader in the digital intelligence space with an estimated market share of 17% in web analytics, competing against firms such as Alexa (Amazon) and SEMrush.
User Base
Similarweb serves over 3 million monthly active users. The platform is utilized by 1,500+ enterprise clients, which include Fortune 500 companies, marketing agencies, and consultants.
Key Performance Indicators (KPIs)
The following KPIs reflect Similarweb's operational efficiency and growth trajectory:
| KPI | Value |
|---|---|
| Annual Recurring Revenue (ARR) | $151 million |
| Customer Retention Rate | 85% |
| Average Revenue Per User (ARPU) | $4,500 |
| YoY Customer Growth | 29% |
Market Trends
In 2023, the global web analytics market is projected to reach $8 billion, growing at a CAGR of 17% from 2023 to 2028. This growth is attributed to the increasing importance of data-driven decision-making across industries.
Investment and Funding
Similarweb Ltd. went public in May 2021, raising approximately $120 million in its IPO. The company has raised a total of $242 million in funding over several rounds, with significant investments from firms like Insight Partners and Red Dot Capital Partners.
Future Outlook
Analysts project Similarweb's revenue for the full year 2023 to be approximately $160 million, with continued growth fueled by new product features and market expansion efforts.
How Similarweb Ltd. (SMWB) Makes Money
Revenue Streams
Similarweb Ltd. generates revenue through several key streams:
- Subscription Services: The primary source of revenue, accounting for approximately 85% of total revenue. As of Q2 2023, total revenue was reported at $82.1 million.
- Advertising Solutions: Provides brands with insights for digital marketing campaigns. Estimated revenue contribution is about 10% of total revenue.
- Data Licensing: Offers data services to various third parties, contributing around 5% to the overall revenue.
Subscription Revenue Detail
Similarweb offers various subscription plans that cater to different business sizes:
| Plan Type | Monthly Price (USD) | Annual Price (USD) | Number of Subscribers | Annual Revenue (USD) |
|---|---|---|---|---|
| Basic | 199 | 1,799 | 1,500 | 2,698,500 |
| Pro | 499 | 4,999 | 800 | 3,999,200 |
| Enterprise | 1,499 | 14,999 | 400 | 5,999,600 |
| Total | - | - | 2,700 | 12,697,300 |
Key Accounts and Growth
As of 2023, Similarweb has expanded its client base, servicing over 2,000 businesses globally. Major clients include:
- Walmart
- eBay
- Samsung
- Microsoft
- PepsiCo
In its most recent earnings call, Similarweb reported a year-over-year customer growth rate of 20%.
Market Position and Competition
Similarweb operates in a competitive market with key competitors like:
- Ahrefs
- SEMrush
- Alexa (owned by Amazon)
- Moz
As of Q2 2023, Similarweb holds approximately 15% of the global market share in web analytics.
Financial Performance
For the fiscal year ending December 31, 2023, Similarweb reported:
| Metric | Value (USD) |
|---|---|
| Total Revenue | 82.1 million |
| Gross Profit | 66.5 million |
| Net Income | -14.2 million |
| Operating Cash Flow | 5.3 million |
As of Q2 2023, Similarweb's cash and equivalents stood at approximately $45 million.
Future Revenue Projections
Analysts project an annual growth rate of 15% for Similarweb through 2025. Expected revenue for 2024 is estimated at:
| Year | Projected Revenue (USD) |
|---|---|
| 2024 | 94.42 million |
| 2025 | 108.58 million |
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