Israeli Outbrain submitted a public prospectus and took a significant step towards an IPO on the NASDAQ
Posted on Jun 30, 2021 by Ifi Reporter
The Israeli company Outbrain submitted a public prospectus and took a significant step towards an IPO on the NASDAQ stock exchange.
Outbrain revealed its financial performance in the prospectus - the company's revenues grew by about 12% in 2020 and amounted to $ 767 million. However, this figure does not accurately reflect the company's revenue, as most of it (around 75%) goes to the content sites with which Outbrain collaborates. Therefore, excluding the cost of traffic acquisition on the sites (Traffic Acquisition Costs), which includes the payment to the content sites, Outbrain revenues amounted to $ 194 million, a growth of 14% compared to 2019. For comparison, Tabula revenues amounted to $ 375 million, an increase of 28 % Compared to 2019. Over the years, the company "burned" $ 157 million and raised $ 200 million.
Outbrain was founded in 2006 by Yaron Galai and Uri Lahav, and in fact invented the field of content recommendations. It is currently run by Galai and David Costman, who serve as co-CEOs. Outbrain's biggest competitor is the Israeli Tabula. Outbrain - asked to change its terms.
In light of the tide in the IPO market, the two companies decided to turn to the public market, after several years of oil being linked to the possibility of making IPOs. Tabula decided to merge with Spock, an inactive company that raises capital to merge with a private company to become public. The company received a value of $ 2.6 billion, and its stock will start trading today under the ticker TBLA.
The two companies compete with each other in a category called Native Advertising - that is, advertising that incorporates content naturally, as part of the user experience. Both companies have developed an algorithm that analyzes the preferences of different readers, and offers them articles - text or video - that may interest them. In this way, they create traffic (traffic), and extend the time spent by surfers on content sites.
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