{
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  "docSlug": "9551be67f14d",
  "documentTitle": "Perion Network Ltd. (PERI)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2023-05-23 00:00:00",
  "orientation": "landscape",
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  "pageNumber": 83,
  "pageCount": 127,
  "prevPage": 82,
  "nextPage": 84,
  "slideType": "competitive_analysis",
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  "density": "balanced",
  "nDataPoints": 1,
  "notes": "The slide uses a red callout box to emphasize the competitive threat and customer loss.",
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      "kind": "callout",
      "text": "Perion lost ~18% of its SORT® customers from Q4 2022 to Q1 2023. The market has known for years that Google Chrome will be phasing out 3rd party cookies by the end of 2024. Spruce Point believes that much larger and sophisticated competitors have, or will have, very competitive technology.",
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      "kind": "callout",
      "text": "Perion lost ~18% of its SORT® customers from Q4 2022 to Q1 2023.",
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      "kind": "table",
      "text": "Comparison table of competitors (Google, The Trade Desk, Criteo, Magnite, LiveRamp) and their respective technologies/collaborations.",
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      "kind": "title",
      "text": "Even If One Believes The SORT® Technology Actually Works, They Face Serious Competition",
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      "arcName": "Overcoming the Monster",
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      "beatName": "Expose Contradiction",
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      "evidence": "The deck spends most of its pages exposing contradictions and inconsistencies in PERI's financials, partnerships, and growth story.",
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      "name": "Logic Chain",
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      "bestFor": "Skeptical audiences, controversial recommendations, rigorous analysis",
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      "evidence": "The deck presents a series of logical and coherent arguments to build a case against PERI.",
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