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Online ad firm Taboola to go public on Wall Street at $2.6 billion valuation

12 9 3

Israel’s Taboola, a content recommendation platform used by online advertisers, said it has made a deal to go public on the New York Stock Exchange.

Taboola expects to go public in the second quarter of 2021 at an implied valuation of $2.6 billion, according to a statement posted to the company’s website on Monday.

The firm is going public by merging with ION Acquisition Corp. 1, a public special purpose acquisition company, or SPAC.

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SPACs are shell companies that aim to raise capital by going public, then merge with and into an existing company, in a process that is generally easier and quicker than a traditional initial public offering. SPACs have been around for decades but have been a major market trend in the past year.

ION Acquisition Corp. 1, part of ION Asset Management, is an Israeli firm that raised close to $260 million in........

© The Times of Israel

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