OpenWeb, the community engagement platform used by over 1,000 leading publishers, announced today the acquisition of Jeeng, a proprietary audience management platform. The acquisition enhances OpenWeb’s ability to build one-on-one relationships with millions of users. It’s the latest step in the company’s rapid expansion of tools aimed at connecting brands, advertisers, and publishers to audiences whenever and wherever they’re online.
Jeeng serves 150 million unique monthly visitors and over 650 publishers, including VICE Media, The Atlantic, Crain’s, HarperCollins, and Vox Media, assisting them in building relationships with readers across multiple channels with hyper-personalized messaging. Jeeng uses AI technology to deliver highly effective content tailored to users’ interests across email, push, and other channels.
Founded in 2015, OpenWeb has over 265 employees in New York City, Tel Aviv, Kiev, San Diego, Canada, London, and Paris and is backed by world-class investors including Georgian, Insight Partners, , Entrée Capital, The New York Times, Samsung Next, Dentsu, and ScaleUp. To date, the company has raised $393 million in funding and is currently valued at $1.5 billion.
The acquisition of Jeeng’s proprietary solutions will enable OpenWeb to grow its user base of over 100 million active users and 1,000+ publishers. The B2B2C platform is used by the world’s top publishers, including The New York Times, Hearst, Yahoo!, Penske Media Corporation, and News Corp, to host healthy online conversations and build thriving communities.
Jeeng’s financial advisor in the transaction was JMP Securities. This is OpenWeb’s third acquisition in the last year. In January, the data company paid $60 million for Hive Media, enhancing its ability to build new, innovative products to empower publishers’ relationships with their audiences. It paid $100 million for ADYOULIKE, a global advertising platform, in April.
OpenWeb recently raised $170 million in Series F funding, bringing the company’s total valuation to $1.5 billion Jeeng’s 60+ employees will be integrated into OpenWeb’s offices in New York and Tel Aviv.
