• by Laurie Sullivan , Staff Writer, 6 hours ago

Similarweb reported $73.9 million in revenue for the first quarter of 2026 last week -- up 10% compared with $67.1 million in the year-ago period, as the company prepares to search for a new CEO.

On May 13, during its Q1 2026 earnings call, Similarweb’s Board of Directors announced a formal search for a new CEO as founder Or Offer prepares to step down after nearly 20 years.

Offer founded the company in 2007, and will remain in his role during the search for his successor.

As of March 31, 2026, the company grew its “high-value customer base, --  those generating $100,000 or more in annual recurring revenue (ARR) by 12% to 461 accounts in the past year.

This enterprise segment now accounts for 64% of Similarweb’s total ARR, up from 61% the previous year.

Now the company has another revenue stream. While those at the top have always been known throughout the search and data industries as forward thinking, executives recently made an unusual move, disclosing in the earnings materials a large language model (LLM) data training contract with a technology company.

The company in a press release described this deal as a “seven-digit LLM data training contract,” one of two that had been deferred from the fourth quarter. One materialized in the first quarter of this year, and the second is expected in the coming quarters.

The deal created a revenue stream separate from its core subscription business that licenses aggregated data directly to companies building LLMs and generative AI applications.

Similarweb also has been pushing to support retail media networks, as ecommerce grows more complex across marketplaces, retail media networks, and AI-driven discovery, brands struggle to use data to understand where demand is forming and coming from.

This prompted the company to launch the "Retail Intelligence" suite of applications, which combines Amazon marketplace data with more than 650 global online retailers to create cross-retailer analytics.

This gives brands a complete view of shopper behavior and product availability by benchmarking against competitors and identifying opportunities in the market.  

Marta Sulkiewicz, vice president of emerging solutions at Similarweb, told MediaPost last month that many trends lead toward discovery from AI, key performance indicated, and how to optimize because the number of purchases surging inside of Amazon, Chewy, and Best Buy are all increasing year over year.

“Every day we are being asked can we see consumer checkouts in the AI agents and bots,” Sulkiewicz said. “They ask about ads being served within ChatGPT. It’s changing the discovery of shoppers.”

Through Similarweb’s technology, brands can see how AI recommends products, and how the bot travels through the backend of the systems. It can identify what makes ChatGPT and other agents recommend one product over another.

There are many reasons why an AI bot would not recommend a specific product, despite a specific description matching a product.

“It’s all about whether the AI bot can find the product,” Sulkiewicz said. “It requires content, context, and social proof that the product is perfect for the consumer. If a consumer is searching for a specific red dress, and there is information in the context of the description that this dress is perfect for tall people, for example, the brand has a better chance that the bot will identify that dress.”