← Back to the club

Yotpo

E-commerce marketing software (reviews, loyalty)Israel/USA
New to Unitard
✂️ Markdown
Peak $1.4 BillionToday
~-85%
from peak
  1. 🦄
    Became a unicorn
    Mar 2021
  2. 📈
    Peak valuation
    $1.4 Billion ’21
  3. 💔
    Became a Unitard
    Dec 2022
  4. 💸
    Last valuation
    ~$210M
Current status
Private and operating; exited email and SMS marketing at the end of 2025 to focus on reviews and loyalty; co-founder Tomer Tagrin is CEO

The rise & fall

10 moments · 2011–2026

The key moments, with employee sentiment along the way.

2011
Founded by Tomer Tagrin and Omri Cohen
The Tel Aviv company starts with customer reviews for online stores and later adds loyalty, referrals and messaging.
CTech
Aug 4 ’20
$75M Series E at 'nearly $1B'
Adam Fisher leads with Bessemer, Access Industries, Vertex and Hanaco; co-founder Omri Cohen puts the valuation at nearly $1B. Total raised reaches $176M.
Globes
Mar 18 ’21
The peak: $230M Series F at $1.4B post-money$1.4B
Bessemer Venture Partners and Tiger Global lead; Yotpo reports more than $100M in ARR and about 30,000 paying customers.
TechCrunch
Mar 31 ’21
Capital Group fund marks Series F shares at $2.20
SMALLCAP World Fund carries its 8.33M Yotpo Series F shares at $2.20 each, a mark it holds for a year.
SEC NPORT-P
Nov 16 ’22
About 70 layoffs, roughly 9% of staff
Yotpo cites the global slowdown after hiring heavily on the 2021 round; about 30 of the cuts are in Israel.
CTech
Dec 31 ’22
Fund mark drops to $1.24 — joins the Unitard Club 💔
SMALLCAP World Fund's mark on its Series F shares is now 44% below the round-era $2.20, implying less than $1B.
SEC NPORT-P
Sep 30 ’24
Mark cut to $0.78
The fund nearly halves its mark from $1.42, about 65% below the 2021 level.
SEC NPORT-P
Aug 5 ’25
Exits email and SMS; about 200 layoffs
Yotpo cuts about a third of its workforce and sunsets email and SMS by year-end, steering customers to Attentive and Omnisend.
Globes
From the inside · Glassdoor reviews, 2024–25
Glassdoor ratings slip from about 4.1 in 2023 to 3.5 in 2025. Reviewers describe frequent changes in strategy, a steady loss of staff and the 2025 layoffs, while most praise their colleagues.
Jun 30 ’26
Series F shares marked at $0.32
Unchanged from March 2026 and about 85% below the $2.20 round-era mark; the share count has never changed.
SEC NPORT-P
Today
Still private — the funds keep marking
SMALLCAP World Fund Inc marks it at $0.32/share · -85% from its peak mark · as of Jun 2026
SEC NPORT-P

💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.

How it happened

Yotpo, founded in Israel in 2011 by Tomer Tagrin and Omri Cohen, sells customer-review, loyalty and marketing software to online stores. Bessemer Venture Partners and Tiger Global led a $230M Series F on March 18, 2021, at a $1.4B post-money valuation, when Yotpo reported more than $100M in annual recurring revenue.

It cut about 70 jobs, roughly 9% of staff, in November 2022. In August 2025 it exited email and SMS marketing, steering those customers to Attentive and Omnisend, and laid off about 200 people, a third of its workforce.

SEC filings show Capital Group's SMALLCAP World Fund valued its Yotpo Series F shares at $2.20 each after the round and at $0.32 by March 2026, about 85% lower.

Mutual-fund markdowns

1 fund · SEC NPORT-P

How U.S. mutual funds fair-value this still-private company in their quarterly SEC filings.

Per-share mark from peak
-85%
SMALLCAP World Fund Inc · Preferred
$2.20 → $0.32
as of Jun 2026

Source: SEC EDGAR Form NPORT-P (Level-3 fair-value marks). Per-share marks reflect the fund’s own valuation of a specific share class and aren’t a company-wide valuation. Last refreshed Oct 2026.

Source: TechCrunch and Globes (Mar 18, 2021): $230M Series F led by Bessemer Venture Partners and Tiger Global at $1.4B post-money; ARR above $100M. Globes (Aug 4, 2020): $75M Series E at nearly $1B per co-founder Omri Cohen. SEC NPORT-P, Capital Group's SMALLCAP World Fund, Yotpo Series F preferred (8,332,809 shares, count unchanged throughout): $2.20 a share from Mar 31, 2021 to Mar 31, 2022, then 1.61 (Jun 2022), 1.24 (Dec 2022), 1.46 (Dec 2023), 0.78 (Sep 2024), 0.63 (Jun 2025), 0.39 (Dec 2025) and $0.32 on Mar 31 and June 30, 2026, 85% below the round-era mark (drop keyed to it; implies about $0.2B); the fund marks every Yotpo class identically, and Capital Group's insurance-series small-cap fund carries the same marks. Calcalist (Nov 16, 2022): about 70 layoffs, roughly 9% of some 825 staff. Globes (Aug 5, 2025): about 200 layoffs, a third of the workforce, and sale of the email and messaging products; Spam Resource (Aug 5, 2025): email and SMS sunset by end-2025, customers moved to Attentive and Omnisend.

Founders

  • Tomer Tagrin
    co-founder & CEO (led at peak)
    Still there — CEO& Co-founderLinkedIn ↗
  • Omri Cohen
    co-founder & COO
    Still there — Co-founder & COOLinkedIn ↗

Current roles as self-reported on LinkedIn, retrieved 2026-10-22. See our methodology.

Disclosed investors (21)

Historical funding participation; lists may be incomplete and do not establish current ownership or investor losses.

* Lead in a funding round · Crunchbase ↗ · 2026-10-22 · Methodology · Leaderboard

More from the club

Same fate · fund markdown
Dapper Labs$7.6BHouzz$4BMasterClass$2.75BSolugen$2BUnqork$2B
🦄