Yaron Galai and Ori Lahav Outbrain founders (Company PR pic)
Outbrain Inc., an Israeli startup which offers content recommendation to businesses, has revealed the terms for its NASDAQ IPO. Outbrain expects to raise about $200 million, which would give the company a $1.4 billion valuation. The company plans to offer 8,000,000 shares at a price expected to be between $24-26 per share.
The underwriters will have a 30-day option to pursue an additional 1,200,000 shares of common stock from Outbrain at the initial public offering price, less underwriting discounts and commissions. Outbrain has applied to list its common stock on the Nasdaq Global Market under the symbol “OB.”
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The news comes just one week after Outbrain raised $200 million in new funding from from Boston-based investment manager The Baupost Group. At the time, Yaron Galai, Co-Founder and Co-CEO of Outbrain commented, “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.”
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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.
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.”
