The Israeli content recommendation company filed confidentially, the “Wall Street Journal” reports.
Outbrain Inc. has filed confidentially with the US Securities and Exchange Commission (SEC) for a Nasdaq IPO, the “Wall Street Journal” reports, according to a source familiar with the matter. Outbrain provides Internet content and article recommendations, sometimes called native ads. The company was founded in 2006 by CEO Yaron Galai and General Manager Ori Lahav.
If the Israeli company goes ahead with the IPO, it will reportedly be at a company value of $1 billion, although it is unclear how much of the company Outbrain would seek to sell, a source told the “Wall Street Journal.”
JP Morgan and Goldman Sachs have been tapped as lead underwriters and the IPO is planned for the first quarter of 2015.
In October 2013, Outbrain raised $35 million, and in April 2014 the “Financial Times” reported that the company would seek to raise $100 million on Nasdaq.
Outbrain was chosen as “Globes” most promising start-up of 2011. 2014 revenue is expected to reach $200 million and earlier this month the company signed a $100 million deal with media company Time Inc.
Outbrain’s biggest rival is another Israeli company Taboola, which is also expected to raise money on Wall Street in 2015.
Published by Globes [online], Israel business news – www.globes-online.com