OpenWeb acquiring Hive Media Group for $60 million
The acquisition follows the Israeli company’s $150 million Series E at a $1.1 billion valuation two months ago
Hive, founded in 2016 by Daniel Sagis, Guy Yeshua and Stacy Abraham, is well-established in the online media landscape. The acquisition brings on board Hive’s team of over 60 employees including product and engineering. This additional expertise and resource will enhance OpenWeb’s ability to build and test innovative products for publishers to power audience relationships, particularly as it pertains to enabling first-party data relationships, building more impactful editorial tools, and increasing the long term value for publishers.
“Publishers are looking for the best technology available to improve revenue and own the relationships with their audiences,” said Nadav Shoval, CEO and co-founder of OpenWeb. “With this acquisition, we’re doubling down on these efforts, building even greater capacity for innovation and value to our publishing partners, who aim to have more connection with their audiences.”
As the integration begins, Hive Media Group will operate as an independent business unit within OpenWeb. Guy Yeshua and Stacy Abraham will remain as Chief Executive Officer and Chief Operating Officer, respectively. Guy Yeshua will join OpenWeb’s executive leadership team. With the acquisition, OpenWeb’s global headcount will reach over 225.
“We have known and admired OpenWeb and their leadership team for many years,” said Guy Yeshua, at Hive Media Group. “Our missions are aligned—coming together only makes our efforts to improve digital experiences for publishers and users that much stronger. As we forge a new path together with OpenWeb, we look forward to creating new, powerful tools that empowers publishers.”