Yext sells its primary business Felix to IAC's CityGrid Media for around $30m as it concentrates on a new service.

Corporate venturing-backed advertiser Yext has sold its pay-per-call advertising business, Felix, to CityGrid Media, an online advertising network owned by media conglomerate IAC.

Although Yext did not reveal the terms of the acquisition in its announcement, news provider TechCrunch said the deal was worth about $30m on expected revenues of $30m this year.

Yext managed to raise $27m in June this year in its series E round at a valuation of $270m. The E round was led by Marker, a…