Taboola Goes Public with the $2.6B Merger Deal with ION Acquisition Corporation
Taboola is going public through a merger with a special purpose acquisition company in a deal that values the adtech at US$2.6 Billion.
The company today announced it has entered into a definitive merger agreement with ION Acquisition Corp. to go public on the New York Stock Exchange. The combined company will operate under the Taboolla name and trade on the NYSE under the new symbol “TBLA”.
Taboola backed out of a planned merger with rival native advertising platform Outbrain last year when it struggled to raise the necessary cash as coronavirus wreaked havoc on the ad industry.
Today Taboola said it had secured approximately US$285 million in primary and secondary private investment in public equity (PIPE) financing from institutional investors, that have committed to funding more than 20 percent of the PIPE.
