Yext Spins Off Pay-Per-Call Ad Business As Felix

Yext has made the famous startup pivot, shifting focus from its pay-per-call advertising service to a new product called PowerListings. But rather than simply abandoning its old business, the company is announcing today that it's spinning off the pay-per-call part of the company into a wholly-owned subsidiary called Felix. Yext CEO Howard Lerman says the pay-per-call business was doing just fine (it's supposedly profitable and on-track to bring in nearly $30 million in revenue this year), but he saw an even bigger opportunity in PowerListings, a service that helps businesses update and synchronize their listings across more than 40 local search services in real-time. Now, he says that splitting the two companies seems like the best way to "maximize the value of both."

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