A new article on
Marketing Land discusses the fact that ON24 seems to be following up a period of losses by riding thins out on the virtual event wave.
ON24 is a digital experience platform that focuses its efforts on webinars and other virtual events. Now, the company has filed for an initial public offering, and the move comes on the back of some strong growth in Q2 and Q3 of 2020. ON24 plans to be listed on the NYSE under the name "ONTF." In an interview conducted during September of last year, ON24 co-founder and President-CEO Sharat Sharan told Marketing Land:
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"It's not rocket science to realize that customer engagement has basically moved online. We're all looking forward to physical events coming back, but the trend towards more online customer engagement has been accelerated, and that is going to continue. I don't think it's a reversible trend."
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ON24 collects granular data on engagement for customers when they host events like webinars on the platform. It accomplishes that with polls, surveys, and other options. The company puts it like this:
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"We provide a leading, cloud-based digital experience platform that enables businesses to convert customer engagement into revenue through interactive webinar experiences, virtual event experiences and multimedia content experiences."
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ON24 was founded back in 1998, its first incarnation being a streaming video platform called News Direct. After converting to a webinar model in 2003, it looked to monetize the capability of hosting events. Then in 2013, the company launched a new self-service webinar product with the aforementioned lead gen-supporting data layer.
The company made net losses of $17.6 and $17.5 million for 2018 and 2019, respectively, but recently appointed Steve Daheb as CMO. In November 2020, it launched the RevNEXT marketplace.
