FOSTER CITY, Calif.--(BUSINESS WIRE)--Conduit®, provider of engagement solutions for web and mobile publishers, today announced that an investment fund advised by J.P. Morgan Asset Management has agreed to take an approximate 7% stake in the company. Conduit can confirm that the purchase is expected to represent an approximate $100 million stake at a $1.3 billion valuation. Founders Ronen Shilo, Dror Erez and Gaby Bilzyk maintain a controlling stake in the company.
“Our partnership with J.P. Morgan Asset Management is validation of the power of our suite of engagement products,” said Conduit Founder, Chairman and CEO Ronen Shilo. “As our constantly connected world continues to evolve, the ways that we engage our users must change with it. The next few months will be some of the most important in the history of Conduit, and we’re thrilled to have partners like J.P. Morgan Asset Management as our company continues to grow.”
“We are excited to partner with Conduit. We recognize the company’s demonstrated ability to supply innovative products enabling web publishers to continually engage with their users across multiple platforms,” said Robert Cousin, Managing Director, J.P. Morgan Asset Management. “We are highly impressed with Conduit’s leading market position and the scale of publishers and unique users that employ Conduit’s solutions.”
Founded in 2005, Conduit has become Israel’s first billion dollar internet company and empowers web and mobile publishers to engage their users across multiple platforms. From Community Toolbars and mobile apps to notifications and web bars, the company’s products enable publishers to constantly connect with their users wherever they are. Conduit’s innovative solutions have made it the fastest-growing network of publishers in the world, with more than 260,000 publishers of all sizes generating billions of monthly interactions with their 250 million users. Major League Baseball, Groupon, Fox News, Travelocity, and The Weather Channel are just some of the brands leveraging Conduit’s free solutions to keep their users engaged and boost their business.
About Conduit
Conduit empowers web and mobile publishers to engage their users across multiple platforms. From Community Toolbars and mobile apps to notifications and web bars, the company’s products enable publishers to constantly connect with their users wherever they are. Conduit’s innovative solutions have made it the fastest-growing network of publishers in the world, with more than 260,000 publishers of all sizes generating billions of monthly interactions with their 250 million users. Major League Baseball, Groupon, Fox News, Travelocity, and The Weather Channel are just some of the brands leveraging Conduit’s free solutions to keep their users engaged and boost their business.
J.P. Morgan Asset Management is the marketing name for the asset management business of JPMorgan Chase & Co. and its affiliates worldwide.