History
ComScore Networks was founded in August 1999 in Reston, Virginia. The company was co-founded by Gian Fulgoni, who was for many years the CEO of market research company Information Resources, Inc. (IRI) and Magid Abraham, who was also an ex-IRI employee and had served as President of IRI in the mid-1990s.
Magid and Gian came up with the idea while working with one of the original investors in the company, Mike Santer, who thought up the concept of creating a very large consumer panel online to track online commerce. The problem was that the traditional methods in which companies were tracking online behavior would not work in tracking commerce, because of the lower incidence of buying online. Normal panels in tracking visitation would be around 20-30K and, with less than 2-3% of the population buying online, the panel size needed to be at least 1-2MM. They decided to build a very large panel using more aggressive recruiting methodology and managing for the error by using advanced statistical methods and controls. Years and tens of millions of dollars went into finding the best ways to measure online buying and other behaviors, plus the level of accuracy required for Fortune 1000 companies to buy.
In 2000, comScore bought certain assets and the customer agreements of PCData of Reston, Virginia. PCData was among the earliest Web measurement firms, but increasing competitive challenges (including a threat of a patent infringement lawsuit by industry pioneer Media Metrix) put PCData's future in doubt. The acquisition of PCData's large customer base helped accelerate the growth of comScore's syndicated measurement service, which was widely considered to be more accurate than the service which PCData technology previously delivered.
By 2001, Media Metrix had built a market share lead but had been unable to create a sustainable financial structure. NetRatings, its closest competitor, was armed with strong capital reserves and announced its intention to acquire and integrate Media Metrix. However, after several months, the FTC announced its intention to block the acquisition and accordingly, NetRatings canceled the transaction. comScore was subsequently able to acquire Media Metrix in a deal announced in June 2002.
Media Metrix originated as PC Meter, a business unit of market research company NPD Group and began publishing statistics in January 1996. In July 1997, it changed its name to Media Metrix, citing the desire to track a wider variety of interactive traffic. In October 1998, Media Metrix merged with its nearest rival, Relevant Knowledge. The company went public as NASDAQ:MMXI in May 1999, reaching a market cap of $135 million on its first day of trading. In June 2000, the company acquired Jupiter Communications for $414 million in stock and changed its name to Jupiter Media Metrix. In the aftermath of the dot-com bubble collapse and associated downturn in internet marketing spending, Jupiter sold the Media Metrix service to rival comScore for $1.5 million in June 2002.
On March 30, 2007, comScore announced its intent to sell shares in an initial public offering and be traded on the Nasdaq using the symbol "SCOR".
In May 2008, comScore announced its acquisition of M:Metrics, a company measuring mobile content consumption. The transaction involved a cash payment of $44.3 million and the issue of approximately 50,000 options to purchase shares of comScore common stock to certain M:Metrics unvested option holders.
comScore announced in October 2009 the acquisition of Certifica, a provider of real-time web measurement and digital marketing technology solutions in Latin America. Based in Santiago, Chile, Certifica has offices throughout Latin America, including Mexico, Brazil, Argentina, Colombia and Peru. The acquisition enhanced comScore’s presence in the rapidly-developing Latin American market.
In February 2010, comScore announced it had signed a definitive agreement to acquire the ARSgroup in an all-cash acquisition. Headquartered in Evansville, Indiana, ARSgroup’s areas of expertise include: brand strategy, all stages of creative development, campaign evaluation across all marketing and media channels, media planning and strategy, return-on-investment, and forecasting.
On July 1, 2010, comScore announced that it has acquired the products division of Nexius, Inc.
comScore then acquired web analytics and video measurement solutions provider Nedstat for approximately $36.7 million. Announced on September 1, 2010, the acquisition helps comScore accelerate its global expansion strategy, particularly in European markets.
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