IAC acquires Felix; pay-per-call ads for SMBs

Summary:IAC's Citygrid Media group acquires pay-per-call advertising service Felix from Yext, which seeks additional capital to grow its paid listings business.

felix-logo-sm

IAC's Citygrid Media group has acquired Felix, the pay-per-call advertising business owned by local listings company Yext, for an undisclosed amount.

Yext founder and CEO Howard Lerman wrote in a blog post that the company sought to sell a successful business to plow funds into growing its 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.

Felix, which bills itself as "intelligent local advertising," analyzes customer phone calls to determine which are from actual customers. (Most calls are from wrong numbers, telemarketers and job seekers, which can quickly waste an ad budget, the company says.) It uses speech recognition to transcribe the calls, dumps the useless ones, and displays the remaining calls in the style of visual voicemail.

felix-visual-voicemail-call-inbox

Felix began as a division and was eventually spun-off into a wholly-owned subsidiary. It's on track to bring in $30 million in revenue this year; Yext co-founder Brent Metz will serve as Felix's chief executive.

Topics: Start-Ups

About

Andrew Nusca is a former writer-editor for ZDNet and contributor to CNET. He is also the former editor of SmartPlanet, ZDNet's sister site about innovation. He writes about business, technology and design now but used to cover finance, fashion and culture. He was an intern at Money, Men's Vogue, Popular Mechanics and the New York Daily Ne... Full Bio

zdnet_core.socialButton.googleLabel Contact Disclosure

Kick off your day with ZDNet's daily email newsletter. It's the freshest tech news and opinion, served hot. Get it.

Related Stories

The best of ZDNet, delivered

You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
Subscription failed.