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October 13, 2015 10:39 PM ET

Internet Software and Services

Company Overview of Synacor, Inc.

Company Overview

Synacor, Inc. provides startpages and homescreens, video solutions, identity management services, and various cloud-based services for a range of devices to cable, satellite, telecom, and consumer electronics companies in the United States and Internationally. The company’s technology allows customers to package a range of personalized, online content, and cloud-based services with their high-speed Internet, communications, television and other offerings. It creates, designs, and develops multi-device startpages, such as personalized contents to engage the consumers of Internet and communications providers, and device manufacturers in its media and programming library; offers digital adverti...

40 La Riviere Drive

Suite 300

Buffalo, NY 14202

United States

Founded in 1998

258 Employees





Key Executives for Synacor, Inc.

Chief Executive Officer, President and Director
Total Annual Compensation: $205.1K
Co-Founder and President of Service Provider Sales & Marketing
Age: 41
Total Annual Compensation: $302.2K
Chief Financial Officer, Principal Accounting Officer and Corporate Secretary
Age: 63
Total Annual Compensation: $310.0K
Company Advisor
Age: 59
Total Annual Compensation: $350.0K
Compensation as of Fiscal Year 2014.

Synacor, Inc. Key Developments

Synacor, Inc. Enters Second Amendment to Loan and Security Agreement with Silicon Valley Bank

On September 25, 2015 Synacor, Inc. entered into the Second Amendment to Loan and Security Agreement with Silicon Valley Bank. The Amendment amends certain covenants, including financial covenants, and certain definitions used in the Loan and Security Agreement dated as of September 25, 2013 by and between Synacor and SVB, as previously amended on October 28, 2014. The Amendment also increases the secured revolving line of credit under the Loan Agreement from $10 million to $12 million, and extends the Revolving Line maturity date for an additional three years, to September 25, 2018. The Revolving Line is available for cash borrowings and is subject to a borrowing formula based upon eligible accounts receivable.

Charter Communications Operating, LLC Terminates its Use of Certain Portal and TV Everywhere Related Services of Synacor, Inc

On September 11, 2015, Charter Communications Operating, LLC delivered notice to Synacor, Inc. that it is terminating its use of certain portal and TV Everywhere related services under that certain Amended and Restated Master Services Agreement dated April 1, 2010 (as amended, the Agreement). The termination will be effective as of October 31, 2015. The agreement will continue with respect to other services including access to Synacor's technology and support for Charter Communications' own web portal.

Synacor, Inc. Revises Earnings Guidance for the Full Year of 2015

Synacor, Inc. revised earnings guidance for the full year of 2015. For the year, the company's revenue for the full year of 2015 is projected to be in the range of $102 million to $108 million, compared with the previous guidance of $97 million to $102 million. The company expects to report full-year adjusted EBITDA of $4 million to $6 million, compared with the recently increased guidance of $3.5 million to $5 million.

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