Digital River, Inc. is a privately held company headquartered in Minnetonka, Minnesota, US[4] that provides global e-commerce, payments and marketing services. In 2013, Digital River processed more than US$30 billion in online transactions.[citation needed]
History
Joel Ronning founded Digital River in 1994 and was its CEO until stepping down in November 2012.[5]
In late 2014, Siris Capital acquired the company for $840 million.[6]
Acquisitions and divestitures
In 1999, Digital River acquired Simtel from California-based company Walnut Creek CDROM Inc.[7]
The company acquired Orbit Commerce and RegSoft.com in 2001.[8]
CCNow and Freemerchant.com were acquired in 2002.[9][10]
Digital River acquired SWReg in 2005 for a reported $8.8 million.[11]
A security breach in 2010 resulted in nearly 200,000 customers' data being stolen.[18] Digital River sued a man who tried to sell the data.[19]
In October 2017, after Digital River had decommissioned the FireClick platform and released the domain in 2016,[20] the websites for Equifax and for TransUnion's Central American division were reported to have been redirecting visitors to websites that attempted drive-by downloads of malware disguised as Adobe Flash updates.[21][22] The attack had been performed by hijacking third-party analytics JavaScript from FireClick.[23][21]
Management history
Joel Ronning was CEO from the company's founding until stepping down in November 2012.[24] In June 2013, Ronning was ranked as the most overpaid CEO at a public company in Minnesota.[25]
In July 2018, Adam Coyle was named CEO, with Dobson becoming Vice Chairman of the Board. Coyle had previously been on the board since 2015, and worked as an executive partner with Digital River's private equity owner, Siris Capital.[26]
In January 2020, Christopher Bernander was named CFO.[27]
In August 2024 new CEO Barry Kasoff was first noted on the e-commerce biz website. Under his leadership, DigitalRiver started claiming that merchant debts were no longer to be recognized as valid obligations.[28]
