CityGrid Acquires Felix
IAC’s CityGrid has acquired Felix, a local advertising service targeting small and medium-sized businesses. Details on the deal were not released.
The deal closed on Aug. 15. CityGrid already included Citysearch, Insider Pages and Urbanspoon.
Felix is an advertising service based on payments per call. It was owned by Yext.
"CityGrid's mission is to empower local businesses to thrive by providing them with tools designed to acquire and manage customers effectively. Felix's products and the team that developed and supports them are a valuable addition to our suite of offerings," Jason Finger, CEO of CityGrid, said in a company statement.
With Felix, merchants pay for customer calls that are likely to lead to more customers. It also provides voice recognition, call analytics technology and tools. Felix gives smaller and medium-sized firms techniques often used by large businesses.
"CityGrid is a high quality thought leader in the local space and our merchants will benefit greatly from expanded distribution and the infrastructure and complementary tools now available to us. We are excited by this important milestone in our organization's history and look forward to being part of the CityGrid family,” Brent Metz, co-founder of Felix, added in the statement.
Yext CEO Howard Lerman sold Felix to get additional money for Yext’s PowerListings business.
“We plan to invest every penny of the proceeds from our sale of Felix to make it possible for every business location on the planet to instantly sync their information everywhere,” Lerman said in a company blog post.
Finger, the former CEO and co-founder of SeamlessWeb, was named CEO at CityGrid Media in April, according to TMCnet.
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Edited by Brooke Neuman