Tuesday, October 15, 2019

Taboola, Outbrain to merge


Taboola and Outbrain, two digital advertising platforms, announced in early October that they have entered into an agreement to merge to create a meaningful advertising competitor to Facebook and Google.
The deal is subject to customary closing conditions. Both companies’ boards of directors have approved the transaction.
The combined company will “provide enhanced advertising efficacy and reach to marketers worldwide, while helping news organizations and other digital properties more effectively find growth in the years to come,” according to Taboola.  
According to eMarketer, almost 70 percent of total U.S. digital advertising revenue in 2019 is controlled by three companies — Google, Facebook and Amazon. “We’re passionate about driving growth for our customers and supporting the open web, which we consider critical in a world where walled gardens are strong, and perhaps too strong. Working together, we will continue investing to better connect advertising dollars with local and national news organizations, strengthening journalism over the next decade. This is why we’re merging; this is our mission.”  
Upon closing, Adam Singolda, the founder and current CEO of Taboola, will assume the CEO position of the combined company, which will operate under the Taboola name.
The combined company will have over 2,000 employees in 23 offices, serving over 20,000 clients in more than 50 countries across the North America, Latin America, Europe, Middle East and Asia-Pacific regions.
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