Taboola is going public via SPAC

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Date: 05.02.2021

Taboola is the latest company seeking to go public via special purpose acquisition company — more commonly known as a SPAC.

To achieve this, it will merge with ION Acquisition Corp., which went public in 2020 with the aim of funding an Israeli tech acquisition. The transaction is expected to close in the second quarter, and the combined company will trade on the New York Stock Exchange under the ticker symbol TBLA.

The company had previously planned to merge with competitor Outbrain before the deal was canceled last fall, with sources pointing to the market impact of the COVID-19 pandemic.

Taboola’s founder and CEO Adam Singolda (pictured above, left) told me that this didn’t lead directly to the SPAC deal. But he said, “I always wanted to go public,” which wasn’t possible while the merger was in the works. Once that deal was called off, and with 2020 turning out to be a strong year for Taboola — it’s projecting revenue of $1.2 billion, including $375 million ex-TAC revenue (revenue after paying publishers), with over $100 million in adjusted EBITDA — the time seemed right, and ION seemed like the right partner.

Taboola was Founded in 2007,  it helps promote your brand at the moments your audience is most receptive to new messages, products, and services. It reaches 516 million daily active users while working with more than 13,000 advertisers.

Source: Techcrunch

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