Somoto

Company Overview

Snapshot

Founded in February 2009 by Eyal Yaakov, Somoto operates with 11–50 employees. The company raised $21.3M across 3 funding rounds from 3 investors. In August 2020, Somoto merged with Nostromo Energy, leading to its acquisition and subsequent delisting from the TASE in June 2021.

Business overview

Somoto provides solutions for software developers, publishers, and advertisers, focusing on the distribution and monetization of software globally. The company's core technology includes an installation management system for PCs and Macs, personalized homepages, and online video advertising services for both mobile devices and PCs. It also offers online advertising space rental and software distribution, operating within the Business Software sector, specifically targeting Advertising Platforms and serving various industries including Media & Entertainment and Enterprise & Professional Services.

Strategic signal

In August 2020, Somoto merged with Nostromo Energy, signaling a strategic pivot away from its core software monetization business towards energy storage. This merger, followed by Nostromo Energy's delisting from the TASE in June 2021, indicates a complete transformation and cessation of Somoto's independent operations, highlighting a significant shift in the company's trajectory and ultimate exit from its original market.

Company Intelligence Q&A

What was a significant acquisition made by Somoto?

In October 2015, Somoto acquired Genieo Innovation for $34 million, expanding its capabilities in software monetization.

When did Somoto expand into video advertising?

In January 2016, Somoto expanded into video advertising by acquiring the Israeli video advertising network Terser-Tude.

What was the outcome of the proposed acquisition by Zvi Barenboim?

In December 2019, Zvi Barenboim canceled the acquisition of Somoto's app distribution activity, which had been announced earlier in April 2019.

What was the nature of Somoto's exit from the market?

In August 2020, Somoto merged with Nostromo Energy, leading to its acquisition and subsequent delisting from the TASE in June 2021.

What was Somoto's last major strategic consideration before its acquisition?

In April 2019, Somoto was considering a strategic pivot towards the medical cannabis and autotech sectors, exploring new business avenues beyond its traditional software monetization.