The digital advertising company Taboola says it plans to become known through a merger with ION Acquisition Corp, a specialty procurement company.
The company places content blocks on websites on the Internet with headlines like ‘8 celebs who have serious illnesses’ or ‘Look Who’s Going Bankrupt Next in America’, which generates revenue for the publisher. According to the company, more than 13,000 advertisers are used to reach more than 500 million daily active users.
The transaction is expected to end in the second quarter, and the combined company will operate under the name Taboola and trade on the NYSE under the symbol “TBLA”. The deal gives Taboola a pro forma valuation of about $ 2.6 billion.
The open web is very important, even essential, because it’s free and diverse and does not belong to one giant enterprise. Think of every website you like – every game, app on a mobile device or connected TV that goes beyond the walled gardens, ”Adam Singolda, CEO and founder of Taboola, wrote in a blog post on Monday.
“But open web businesses depend on walled gardens competing with more data, more technology and more relationships between advertisers, while advertisers have no choice but to turn to walled gardens to gain large-scale access to users. ”
He added in the report that the company intends to give recommendations for ‘anything’ – e-commerce products, apps, games and more – and that the company wants it to be available ‘everywhere’ on a device, connected TV, car and more. ‘
Taboola and rival Outbrain in October 2019 said they would merge in hopes of becoming a bigger rival to giants like digital and Google ads. But almost a year later, the merger talks were terminated after the companies did not agree on the revised agreement.
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