Outbrain files for Wall Street IPO

David Kostman and Yaron Galai Photo: Noam Galai

Outbrain says it presents 344 billion content recommendations per month on the Internet and reaches more than a billion unique users.

Israeli content recommendation company Outbrain has filed a confidential prospectus with the US Securities and Exchange Commission (SEC) ahead of a Wall Street IPO. In its announcement, the company said that the number of shares that will be issued and their price has not yet been set.

According to Outbrain it currently presents 344 billion content recommendations per month on the Internet and reaches more than a billion unique users worldwide with individually tailored content recommendations.

Outbrain's platform operates in cooperation with the world's leading Internet sites including CNN, BBC, The Washington Post, Der Spiegel, Le Monde and many more. The company was founded in Israel in 2006 and operates from its headquarters in New York with offices in the UK, France, Australia, Singapore and Japan as well as Israel. With its development center in Israel, Outbrain is led by co-CEOs Yaron Galai and David Costman.

Last year, Outbrain was supposed to complete a merger with Israeli rival Taboola. Outbrain would have received $250 million cash and 30% in the merged company, which would have been led by Taboola CEO Adam Singolda. But the deal broke down before it could be completed. The merger failed because antitrust authorities worldwide were foot-dragging in approving it.

Since then Taboola has signed an agreement to merge with SPAC ION Acquisition Corp. and trade on Nasdaq at a company valuation of $2.6 billion.

Published by Globes, Israel business news - en.globes.co.il - on April 21, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

David Kostman and Yaron Galai Photo: Noam Galai
David Kostman and Yaron Galai Photo: Noam Galai
Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018