Jul 10, 2024

Israeli Startup Similarweb Expands to Prague

Israeli startup Similarweb, which already has development centres in Tel Aviv and Kiev, is expanding to Prague.

The company is starting with 25 employees and plans to grow to 100 developers.

CEO and co-founder Or Offer began his entrepreneurial journey in a family jewellery business in Jerusalem.

Seeking more than the family trade, Offer aimed to transform the small shop into a well-known brand. When he searched for information on jewelry designer David Yurman for inspiration, he discovered a lack of online tools to find similar jewelry stores.

This led him and his friends to develop a browser plugin that analyzed browsing history to recommend similar sites. The plugin quickly became popular, with tens of millions of downloads.

That was in 2007. Today, Similarweb offers much more. Its web intelligence platform helps businesses make data-driven decisions, analyzing everything from basic traffic data to online user behavior. Its clients include Google, eBay, Adidas, Zalando, and Booking.com.

Similarweb chose Prague for its new development centre due to the city’s wealth of talent, culture of innovation, and problem-solving ethos.

“We are opening this centre in Prague primarily because of the talented professionals here. Given our focus on big data and AI, we also chose this region because of the high level of Czech schools with a technology focus. Our thesis about the potential of IT talent in the Czech market has been confirmed so far—we have already hired 25 top talents and our goal is to expand our team in Prague to 100 people,” says Ron Asher, Similarweb’s CTO.

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The Prague centre will analyze over a billion internet clicks daily, offering business partners insights into digital consumer behavior. Additionally, Similarweb is integrating artificial intelligence into its products to enhance these processes.

The Israeli startup went public on the New York Stock Exchange three years ago. After achieving a turnover of $218 million (over five billion crowns) last year, this year’s revenue is projected to be between $242 and $246 million.

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