Things are on the up for online ad firm Yodle: it’s just filed for a $75 million IPO and signed the lease for a swanky new office.
Art directors and account managers who work for online advertising agencies in the Big Apple may already have heard of Yodle. Founded in New York 2005, it specializes in helping local businesses achieve the most effective online advertising campaigns, with a platform encompassing email marketing, internet marketing social media marketing, reviews and recommendations, marketing automation, SEO and local search.
In a nutshell, Yodle is a lead-generating machine that helps local businesses advertise their products and services by delivering optimal search results on all the major search engines. Yodle ads will point straight to its customer’s websites and lets them track the effectiveness of their online marketing from a single, personalized performance dashboard.
Business-savvy account managers may also appreciate that it’s been phenomenally successful. In 2005, it had a mere 9 employees. Between 2007 and 2010, its annual revenue soared by a staggering 700 percent, its staff headcount ballooned to 250 and its client roster skyrocketed from 600 to 5000. Today, that’s exploded to 45,000 local businesses, the staff headcount now tops 1,100 over five offices and its revenue last year tipped the scales at $162 million, up 22 percent on 2012
Bigger things to come
Investors certainly appear to have been impressed: the company has so far raised a grand total of $50 million over five funding rounds and it’s clearly decided the time is ripe for an IPO (estimated to be worth $75 million), having filed the necessary documents with the U.S. Securities and Exchange Commission at the beginning of July
Matt Turlip, a senior analyst with the private research firm Privco, said that a cloud-based advertising firm like Yodle undoubtedly has strengths, including “a unique combination of cloud, mobile, social, and local that investors are interested in, and it does have immense potential for growth in the very large local business market.”
Apparently in anticipation of bigger things to come, Yodle has signed a 10 year lease for 85,000 square feet in a stunning 18-story building at 330 West 34th Street – the new home for its NY headquarters.