Outbrain plans IPO, secures US$200m
Just days after filing its registration statement with the US Securities and Exchange Commission to kickstart the IPO process, Outbrain has secured a US$200 million investment.
The content recommendation platform filed its IPO papers last week, with the intention of listing on the Nasdaq under the ticker symbol, OB. The number of shares to be offered and price point were not confirmed.
Days later, Outbrain confirmed it had scored a US$200m funding injection from Boston-based investment firm, The Baupost Group. Baupost manages about $31 billion and invests in a wide range of asset classes including significant holdings in publicly traded debt and equity securities, private debt, real estate, and private equity.
“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 Outbrain co-founder and co-CEO, Yaron Galai.
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