Outbrain Inc., an Israeli startup which offers content recommendation to businesses, just raised another $200 million. The money comes from Boston-based investment manager The Baupost Group. The news comes just one week after Outbrain submitted the formal paperwork with the SEC ahead of its planned IPO. This brings the total investment in Outbrain to date to about $344 million.
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.”
“We proudly lead the recommendation space we created. We have bold plans for the future to continue delivering critical innovation to our premium media partners worldwide and expanding our powerful open web global advertising platform,” added Yaron Galai, Co-Founder and Co-CEO of Outbrain.
Baupost was founded in 1982 by CEO Seth Klarman.
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.
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.”