Taboola, a content recommendation platform, exceeded its funding targets for $100 million and raised $117 million. The company is based in Tel Aviv, and CEO Adam Singolda said the funds would be used to expand offices in Israel and worldwide; it also has locations in Pasadena and Bangkok. Taboola wants to grow further into Italy, France and Japan.
Singolda said his goal is to work on the “next generation of personalization” to give content providers and advertisers “tools for content recommendation and increase user engagement, ” according to Globes.
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Singolda wouldn’t reveal the company’s valuation, but it is estimated at $1 billion and Taboola is profitable, having generated $200 million in revenues last year. While an IPO has not been ruled out, it isn’t on the top of the agenda, according to Singolda.
Taboola provides content recommendation and offers clients the option of promoting internally or externally. The company provides 200 billion recommendations to 550 million unique visitors per month. The funding was led by Fidelity along with Advance Publications (which owns Conde Nast), Comcast and Yahoo Japan. The total capital Taboola has raised is $157 million. Singolda distinguished Taboola’s strategy from that of a social media company, “Social is only one part of the market, ” he said, according to Variety, “We want to show you something your friends are not sharing.”