Search - Friday, October 2, 2009
Call-based Leads Firm Yext Raises $25M
NYC's Yext has raised $25M led by Institutional Venture Partners with Sutter Hill Ventures. The startup says it will pull in $20M in revenues this year.
Founded in 2006, Yext is an online yellow pages that sells click to call ads. It claims nearly 20K customers are connected to Yext Calls. It also partners with publishers have installed "Yext Numbers", a local search monetization platform.
Yext partners include YellowPages, Local.com and Topix; Yext uses speech-to-text recognition licensed from IBM for each business category to keep track of all those calls for billing.
The startup is led by CEO Howard Lerman who was COO of Datran Media and Brian Distelburger, who was COO of CDS.
We expect this to be a natural territory for Google. Given AOl's growing interest in the local market, we would expect AOL to sniff around Yext.
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YEXT IS A SCAM!! I signed up for their service for my small business after their sales pitch promising I would only be billed for revenue generating calls. But YEXT IS A FRAUD. Once they get your credit card number they bill you for all manner of garbled and worthless calls. When you complain to YEXT and ask them to delete the charges for such worthless calls they refuse. Run from the YEXT SCAM as fast as your legs will take you and, if needed, advertise through reputable channels.
Posted by: Tim Wilson at April 19, 2010 2:51 PM
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