Taboola, a Global Leader In Powering Recommendations for the Open Web, to Become NYSE Listed at an Implied $2.6 Billion Valuation via a Merger with ION Acquisition Corp. 1 Ltd.
Total raised to be approximately $545 Million including ION’s proceeds and a PIPE from Fidelity Management & Research Company LLC, Baron Capital Group,
Taboola, a global leader in powering recommendations for the open web, helping people discover things they may like, today announced it has entered into a definitive merger agreement with ION Acquisition Corp. 1 Ltd., a special purpose acquisition company. The combined company will operate under the Taboola name and will trade on the NYSE under the new symbol “TBLA”. The transaction is expected to close in Q2 of 2021.
Taboola was founded in 2007 by Adam Singolda, the company’s CEO since inception. The company enables digital property owners to harness the value of AI-driven recommendations and offers advertisers a way to effectively access users in the open web. Taboola surfaces recommendations wherever people spend time outside of the walled gardens, across websites and within offerings from device manufacturers, mobile apps, and games, enabling advertisers to be recommended side-by-side with editorial content, driving significant value.
Taboola’s mission is to power recommendations for the open web and help people discover things they may like. Taboola estimates the highly fragmented advertising market in the open web to be approximately $64 billion in 2020. Taboola’s recommendation platform renders editorial and paid recommendations natively, creating meaningful value to its digital property partners, advertisers and users. As a result, the company believes it has a significant market opportunity.
Taboola at scale – selected highlights:
- More than 9,000 digital properties with long-term, global and exclusive partnerships, including publishers like CNBC, NBC News, Business Insider, The Independent and El Mundo during Q4 2020.
- Device manufacturer partnerships, where Taboola brings its publisher partners’ news to consumers.
- More than 13,000 advertiser relationships, reaching 516 million daily active users on the Taboola network in a brand safe environment, while using Taboola’s readership data for precision targeting during Q4 2020.
- Approximately 500 team members at the end of Q4, supporting research and development and significant investment into its technology stack, which has made Taboola a leader in AI.
“Taboola is embarking on an exciting new journey as a public company, a milestone only made possible by years of trusted partnerships with tens of thousands of digital properties and advertisers who I want to personally thank for believing in Taboola and me for years,” said Adam Singolda, Founder and CEO at Taboola. “Today, we’re proud of the Taboola team that has made us a ubiquitous presence on the open web and for helping to bring our category-defining technology to market. Aside from our technology and team, Taboola’s success is built on a simple idea – deliver value to our partners in a way where we only grow if our partners grow, in a true win-win manner. This is in stark contrast to ‘walled gardens’ of closed ecosystems that don’t always have their partners’ best interests in mind.”