Outbrain Inc., an Israeli startup which offers content recommendation to businesses, announced that it has submitted the formal paperwork with the SEC ahead of its planned IPO. The number of shares to be offered by Outbrain and the price range for the proposed offering have not yet been determined. Outbrain has applied to list its common stock on the NASDAQ Global Select Market under the ticker symbol “OB.”
In its Form S-1 Outbrain stated that their platform, “enables over 7,000 online properties, including many of the world’s most prestigious publications, helping them engage their users and monetize their visits. Fueled by over 1 billion data events gathered each minute, our platform matches audiences with personalized content and ads, driving quality engagement while delivering efficient, sustainable monetization.”
Outbrain boasts that provides more than a billion unique users worldwide with individually tailored content recommendations. The company says that it provides 344 billion content recommendations per month on the Internet. Outbrain reported revenue of $228 million in Q1 2021.
Citigroup, Jefferies, Barclays, and Evercore ISI will serve as joint bookrunners for the proposed offering. JMP Securities, Needham & Company and LUMA Securities will act as co-managers.
The news comes a few days after Outbrain’s main competitor, Israeli firm Taboola, held a successful IPO of its own.
— Outbrain (@Outbrain) June 29, 2021
Yaron Galai and Ori Lahav founded Outbrain in 2006 to solve the problem publishers had in replicating the print experience of turning a page to discover the next article or product on the web. Outbrain calls itself the leading recommendation platform for the open web. Its technology enables one-third of the world’s online consumers to discover new things through recommendation feeds on their favorite media and connects advertisers to these audiences to grow their business. Today, Outbrain develops the recommendation technology that makes the act of exploring and discovering new things on the open web possible.
“Outbrain develops the recommendation technology that makes the act of exploring and discovering new things on the open web possible.”