Israel s Taboola heads to NASDAQ with $2 6b valuation after merger approved haaretz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from haaretz.com Daily Mail and Mail on Sunday newspapers.
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May. 3, 2021 2:15 PM
Israeli firm Taboola revealed in a U.S. Securities and Exchange Commission filing over the weekend that it and other companies in the digital advertising industry are under investigation for antitrust violations by the U.S. Department of Justice.
The criminal investigations involves hiring practices in the industry, which focuses on the recommendations the company makes for other online stories to read.
Taboola only found out about the investigation last week, a few months after the decision on the SPAC merger was made.
A SPAC is a listed shell company without operations that raises money from investors with the goal of merging with a private company and taking it public.
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Jan. 25, 2021
Content recommendation startup Taboola has announced it is merging with ION Acquisition Corp, a special purpose acquisition company (SPAC), based on a valuation of $2.6 billion.
Around $509 million will be invested in the startup, of which current shareholders will receive $100 million.
After deducting the costs of the deal, around $389 million will enter Taboola’s coffers, raising its cash flow after the merger to $600 million. The investment amount is being split 50-50 between the SPAC and investors like Fidelity Management & Research and Baron Capital Group. TheMarker first reported the merger between Taboola and ION.
A SPAC is a shell corporation that raises money from investors and then has two years to find a private company to merge with. ION is run by Jonathan Kolber, Gilad Shany, Avrom Gilbert and Anthony Reich. The merger requires approval by company shareholders and is expected to be completed in the second quarter of this year. Taboola’s deci
טאבולה בדרך למסחר בבורסה בניו יורק, שווי של 2 6 מיליארד דולר ice.co.il - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ice.co.il Daily Mail and Mail on Sunday newspapers.
Dec. 23, 2020
The Israeli online content-recommendation company Taboola is conducting negotiations to merge with ION group’s special-purpose acquisition company listed in NYSE, Haaretz has learned. ION SPAC is a public shell company that raised $259 million to find and merge with a private firm.
In October, the company made an initial public offering for its SPAC, with the declared intention of purchasing an Israeli unicorn - a tech company valued at over a billion dollars.
The SPAC is led by Jonathan Kolber, Gilad Shany, Avrom Gilbert and Anthony Reich. If everything goes according to plan, Taboola will be listed on Wall Street through the merger. Both ION and Taboola refused to comment on the report.