Digital River is a private company that provides global

e-commerce E-commerce (electronic commerce) is the activity of electronically buying or selling of products on online services or over the Internet. E-commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain managem ...

, payments and marketing services. In 2013, Digital River processed more than $30 billion in online transactions. Digital River is headquartered in

Minnetonka, Minnesota Minnetonka ( ) is a city in Hennepin County, Minnesota, United States. A western suburb of the Twin Cities, Minnetonka is located about west of downtown Minneapolis. As of the 2020 census, the city's population was 53,781. Minnetonka is th ...

Company operations

Digital River has a history of acquiring other companies in the

(including digital software delivery) industry. Notable acquisitions include: *

Simtel Simtel (sometimes called Simtelnet, originally SIMTEL20) was an important long-running archive of freeware and shareware for various operating systems. The Simtel archive had significant ties to the history of several operating systems: it was in ...

*CCNow (2002) *Freemerchant.com (discontinued 15 January 2008) *Journey Education Marketing (2010) *eSellerate *THINK Subscription (2008) *SWREG (2005) *Fatfoogoo (2010)

Divestitures In finance and economics, divestment or divestiture is the reduction of some kind of asset for financial, ethical, or political objectives or sale of an existing business by a firm. A divestment is the opposite of an investment. Divestiture is ...

*CCNow (sold to Snorrason Holdings 2012) *Journey Education Marketing (2013)

Security failings

A security breach in 2010 resulted in nearly 200,000 customers' data being stolen. A lawsuit followed by Digital River. In October 2017, the websites for Equifax, and for

TransUnion TransUnion is an American consumer credit reporting agency. TransUnion collects and aggregates information on over one billion individual consumers in over thirty countries including "200 million files profiling nearly every credit-active consume ...

's Central American division were reported to have been redirecting visitors to websites that attempted

drive-by download Drive-by download is of two types, each concerning the unintended download of computer software from the Internet: # Authorized drive-by downloads are downloads which a person has authorized but without understanding the consequences (e.g. dow ...

s of malware disguised as

Adobe Flash Adobe Flash (formerly Macromedia Flash and FutureSplash) is a multimedia software platform used for production of animations, rich web applications, desktop applications, mobile apps, mobile games, and embedded web browser video players. Fla ...

updates. The attack had been performed by hijacking third-party analytics JavaScript from FireClick. Digital River decommissioned the FireClick platform and released the domain in 2016, so the domain was not owned by Digital River at the time of the attack.

Management history

Joel Ronning was CEO from the company's founding until stepping down in November 2012. In June 2013, Ronning was ranked as the most overpaid CEO at a public company in Minnesota. In February 2013, Dave Dobson was named CEO. In July 2018, Adam Coyle was named CEO with Mr. Dobson becoming Vice Chairman of the Board. Mr. Coyle had previously been on the board since 2015 and worked as an executive partner with Digital River's private equity owner, Siris Capital. In January 2020, Christopher Bernander was named CFO.

References

External links

DigitalRiver.com
{{Software digital distribution platforms Software companies based in Minnesota Companies based in Minnetonka, Minnesota American companies established in 1994 Software companies established in 1994 Companies formerly listed on the Nasdaq Online financial services companies of the United States Online payments Multinational companies headquartered in the United States 2015 mergers and acquisitions Software companies of the United States