Taboola, an Israeli web content recommendation startup, is planning a NASDAQ IPO. According to a report in Globes, the company expects to come out of its IPO with a $3 billion valuation.
Founded in 2007, Taboola states that it helps people find relevant content online, matching them with news stories, articles, blogs, videos, apps, products and other content they’re likely to want to explore.
How does Taboola know what people will like? The company boasts that its technology uses machine-learning algorithms to analyze hundreds of signals that capture exactly what kind of content each individual is most likely to engage with. Taboola says that it does that more than 450 billion times a month for more than one billion unique users.
— Taboola (@taboola) December 18, 2020
Globes cited Wall Street sources as stating that Taboola wants to take advantage of the boom in tech shares in the US. The company also needs to expand after the failed merger attempt with its Israeli rival Outbrain.
There seems to be no end in sight for the multi-billion dollar valuations for Startup Nation companies. Last month, AppsFlyer hit the $2 billion valuation mark. The Israeli startup has developed software which app creators can use to track which users are the most profitable to their businesses. Cato Networks, an Israeli startup and provider of the world’s first Secure Access Service Edge (SASE) platform, is now valued at $1billion after its last round of fundraising.
Forter, an Israeli firm that specializes in e-commerce fraud prevention, reached a valuation of $1.25 billion. And SentinelOne, an Israeli cybersecurity firm, also hit a valuation of $3 billion.
Taboola has made some moves recently to shore up its business ahead of an IPO. Last week it announced a long-term strategic partnership with Israeli digital advertising startup Kendago.
Adam Singolda, Founder and CEO, Taboola, said of the deal, “Taboola is growing exceptionally fast, much of it with direct response campaigns of D2C brands, utilizing the new tools Taboola added and especially our video inventory. We are pleased to be working together with Kendago to create high performing campaigns across the entire purchase funnel, from driving awareness and all the way to a subscription.”
Taboola also entered a similar deal with mediba inc., a discovery platform. Under their partnership, mediba’s Au Web Portal will use Taboola’s discovery platform to increase user engagement through personalized news based on reader interests, through Taboola Feed. In addition, mediba will leverage Taboola Feed to boost monetization across its properties.