Perion Network
- 🦄Became a unicorn2023
- 📈Peak valuation$1.8 Billion ’23
- 💔Became a Unitard2024
- 💸Last valuation~$396M
How it happened
Perion Network is an Israeli digital-advertising company spanning search, social and retail-media ad tech, whose market value climbed to roughly $1.8B in early 2023 on a lucrative Microsoft Bing search-ad partnership. When Microsoft changed its Bing ad model in 2023-24, Perion warned that Microsoft — about 35% of its 2023 revenue — would drop to roughly 5%, and the stock plunged 40% in a single day; by 2026 its value had fallen to around $0.4B. Glassdoor reviews afterward track the fallout: employees described leadership turnover, repeated workforce reductions, and pay and equity frozen for roughly two years, alongside a company direction many said kept shifting as it worked to replace the lost search revenue.
Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.
Source: Calcalist / Macrotrends / stockanalysis (peak ~$1.8B March 2023; Microsoft Bing model change cut Microsoft from 35% to ~5% of revenue, -40% in a day April 2024; ~$0.37-0.45B by 2026)
