Similarweb Expands U.S. Footprint with New Office in Reston, Virginia
Similarweb (NYSE: SMWB) has opened a new office in Reston, Virginia, marking its first office launch after its IPO in May. This expansion supports the company’s goal to enhance its presence in the U.S. tech sector and will host its Chief Marketing Officer and a growing team. The move aims to tap into local talent for sales and marketing roles, as Similarweb continues its global growth strategy. With a workforce of nearly 3,000, Similarweb provides insights based on billions of digital interactions daily across over 190 countries.
- New office opening in Reston, Virginia, signifies growth and expansion.
- Focus on hiring local talent in sales and marketing roles to strengthen operations.
- Continued global expansion with a growing headcount across ten global offices.
- Challenges in revenue forecasting due to rapid growth and technological development.
- History of net losses could limit the achievement of profitability.
- Intense competition may affect market share and growth potential.
Similarweb (NYSE: SMWB), a leading digital intelligence company, today announced the opening of a new office in Reston, Virginia, the heart of Northern Virginia's (Dulles) technology corridor outside of Washington, D.C. With global headquarters in Tel Aviv, Israel, Similarweb’s opening in Reston marks the first new office opening following the company’s initial public offering in May, and its fourth office in the United States.
The new Reston office will be home to Similarweb’s Chief Marketing Officer, Kevin Spurway, and a growing team in the Washington Metropolitan area, with a focus on hiring sales and marketing roles. Similarweb has grown its headcount across all ten global offices this year, with plans to continue its rapid global expansion through the end of the year. The office will offer a balance of open space and conference room options for flexible work scheduling, and to accommodate social distancing for those attending in-person.
“We are committed to expanding our footprint in the United States and excited to be part of the growing tech community in Reston,” says Donna Dror, General Manager, North America at Similarweb. “The Reston and Northern Virginia area is home to a strong talent in the area of digital measurement and market research, and hiring local talent will be key as we continue to create outstanding digital intelligence tools. As a global company, we pride ourselves on providing a unique culture that promotes diversity and inclusion and corporate social responsibility, which will be paramount to the culture in our office in Virginia.”
Founded in 2007, Similarweb now works with nearly 3,000 businesses, including household names like DHL, Lego, Lending Tree, and Rakuten. Similarweb’s proprietary technology analyzes billions of digital interactions and transactions every day from millions of websites and apps in more than 190 countries, and turns these digital signals into actionable insights.
To see a list of open positions in the Reston office, visit the Similarweb careers page.
About Similarweb:
As the most trusted platform for understanding online behavior, millions of people use Similarweb’s insights daily to strengthen their knowledge of the digital world. We empower anyone — from the curious individual to the enterprise business leader — to make smarter decisions by understanding why things happen across the digital ecosystem. Learn more here: https://www.similarweb.com/corp/about/
Forward Looking Statements:
This press release may contain certain "forward-looking statements" as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. These forward-looking statements reflect our current views regarding our intentions, products, services, plans, expectations, strategies and prospects, which are based on information currently available to us and assumptions we have made. Actual results may differ materially from those described in such forward-looking statements and are subject to a variety of assumptions, uncertainties, risks and factors that are beyond our control. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) challenges associated with forecasting our revenue given our recent growth and rapid technological development, (ii) our history of net losses and desire to increase operating expenses, thereby limiting our ability to achieve profitability, (iii) challenges related to effectively managing our growth, (iv) intense competition in the market and services categories in which we participate, (v) potential reductions in participation in our contributory network and/or increase in the volume of opt-out requests from individuals with respect to our collection of their date, or a decrease in our direct measurement dataset, which could lead to a deterioration in the depth, breadth or accuracy of our data, (vi) our inability to attract new customers and expand subscriptions of current customers, (vii) changes in laws, regulations, and public perception concerning data privacy or change in the patterns of enforcement of existing laws and regulations, (viii) our inability to introduce new features or solutions and make enhancements to our existing solutions, (ix) real or perceived errors, failures, vulnerabilities or bugs in our platform, (x) potential security breaches to our systems or to the systems of our third-party service providers, (xi) our inability to obtain and maintain comprehensive and reliable data to generate our insights, (xii) changes in laws and regulations related to the Internet or changes in the Internet infrastructure itself that may diminish the demand for our solutions, and (xiii) failure to effectively develop and expand our direct sales capabilities, which could harm our ability to increase the number of organizations using our platform and achieve broader market acceptance for our solutions. More details and information about us and the risk factors that may affect the realization of forward-looking statements is set forth in our Securities and Exchange Commission filings and reports, including the final prospectus for our initial public offering filed with the Securities and Exchange Commission on May 11, 2021, as well as future filings and reports by us. Except as required by law, we undertake no duty to update any forward-looking statements contained in this release as a result of new information, future events, changes in expectations or otherwise.
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