Yext is the Newest Big Company in the Game

Yext logo

Yext is the Newest Big Company in the Game

On Thursday, the Yext stock started trending on the New York Stock Exchange, going up 22 per cent. Thanks to this boom, the company is currently worth $1 billion. And the company’s CEO, 37-year old Howard Lerman is your usual New York guy. He talks rapidly and has an affinity for the black clothes. Also, Yext just had one of the biggest debuts for a startup company, coming from New York.

The new big company

During a recent interview, Lerman talked about his early life and about his business ambitions. He reportedly grew up in Virginia, went to Duke University and decided that Silicon Valley was not for him. And he started gathering people around him, friends that would work for free, at least in the beginning of the business, from a young age. So, he met Yext’s chief operating officer in middle school. Tom Dixon remained by Lerman’s side since then. Their math teacher remembers that they were so bright that, at one point, they even became scary. They never liked classic math and always wanted to invent and create something new.

Yext stand for “next Yellow pages”. And it is actually the modern version of a phone book and one of the five companies Lerman has founded so far. How does it work? Let’s say that a huge company like McDonalds needs all the information about its many restaurants on sites like Google Maps, Facebook, Yelp and many more. They also need the information to be up to date. Yext provides that. With the company’s software, the companies can quickly update all the data on each site they want, with the push of a button.

Still not profitable

However, even if apparently, Yext is something innovative and useful, it still does not bring profit. This is a risk each tech company has, especially in the beginning. As a CEO, you never know how successful your business will be or if it will bring enough profit to keep itself going. Yext currently has offices both in the United States and in Europe, with over 600 employees.

Image source: techcrunch

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