TABOOLA ANNOUNCES MULTI-BILLION MERGER AND PLANS IPO

The advertising company Taboola is all set to be traded on the New York Stock Exchange with the symbol ‘TBLA’. The company recently announced that it will be entering into a merger with SPAC company and soon they will be launching their IPO.

Taboola helps the website and apps to monetize their content. What the company does is it shows the stories related to the news articles at the bottom of the article with the help of their AI based technology with their Taboola Feed. The company currently has a publisher base of over 13000 publishers who help the company to grab more than 500 million of users every day. The company was started in 2007 by Adam Singolda.

The company provides editorials and paid recommendations to people to help them find out what they might like online. As per the company estimate, the advertising market in the open web was worth $64 billion last year.

The CEO of the company said in a press release that the company is starting its new journey as a public company. The team was planning it for a really long time to make it happen and now it finally has. He added that it was those thousands of advertisers and digital properties who believed in the company and partnered with them. it was their years of hard work which had finally paid off.

He said that they were really proud of their team as they have achieved such a milestone. Adam believed that the company has got success with just a simple idea that if they deliver the value to their partners, they will grow as their partners would grow.

THE MERGER

The company is merging with the ION acquisition. the company helps other companies that they acquire to raise funds by launching initial public offerings (IPO). These kinds of companies are generally known as Special Purpose Acquisition Companies (SPAC).

The main benefit of using SPAC is that it will help them to get easily listed on the stock market without spending much cost. Though there is one disadvantage of the SPAC, the investors might not consider the company as a good prospect.

The company will also get to raise $259 million with the IPO from the trust and other $285 million from institutional investors who have already agreed to purchase the shares of the company.

The merger has been approved by the both companies’ officials; the final deal is expected to take place by the second quarter of the year.


Comments

Leave a Reply

Your email address will not be published. Required fields are marked *