IAC’s Citygrid Media has bought Felix, a pay-per-call ad business from Yext, a service that helps businesses synchronize their listings across the Web. We hear the acquisition price was around $30 million.
Yext originally launched at the TechCrunch50 conference in 2009 as a pay-per-call advertising service. Earlier this year, Yext shifted its focus from this service to a new product called PowerListings. The company then spun off the pay-per-call part of the company into a wholly-owned subsidiary called Felix.
Felix listens to customer phone calls and determines which ones were actually good for your business. Felix is profitable, on-track to bring in nearly $30 million in revenue this year and currently has 85 employees.
Meanwhile, Yext just raised $27 million at a $270 million valuation led by Marker with CrunchFund (whose investor AOL owns TechCrunch), Sutter Hill Ventures, Institutional Venture Partners, and WGI Group participating. And the company is focused on its PowerListings service, which businesses use to make sure their information is up-to-date on all the different local search and listings sites across the Web.
