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Taboola announced the appointment of two new Board members, Deirdre Bigley and Lynda Clarizio, effective April 2021. Both are veterans in technology and advertising, bringing extensive experience in business strategy and operations. Bigley, Chief Marketing Officer at Bloomberg, has held several executive roles at IBM, while Clarizio, a co-founder of Brilliant Friends Investing, has significant media industry experience, including leadership positions at Nielsen and AOL. Their addition aims to enhance Taboola's strategic direction as it prepares for a public merger with ION Acquisition Corp. 1 Ltd. (NYSE: IACA).
Taboola has filed a registration statement with the SEC regarding its proposed business combination with ION Acquisition Corp. 1 Ltd. (IACA). The filing includes a preliminary proxy statement/prospectus that provides crucial details about both companies and the merger, which is anticipated to complete in Q2 2021, pending shareholder approval and SEC clearance. Post-transaction, Taboola's shares are expected to be listed on Nasdaq under the symbol TBLA. The registration statement remains subject to change and has not yet become effective.
Taboola has renewed its partnership with Reach PLC, the UK’s largest news publisher, enhancing content recommendations on over 50 sites including Mirror, Express, Daily Star, and OK!. This collaboration aims to boost audience engagement and revenue, implementing features like Taboola Feed for personalized content and mid-article placements. Notably, previous initiatives led to a 65% revenue increase for Reach. Both companies emphasize their commitment to innovative, quality journalism while driving engagement and monetization.
Taboola has reported selected preliminary results for Q1 2021, highlighting anticipated revenues between $300 million to $303 million, surpassing previous estimates of $286 million. The projected gross profit is expected to be between $87 million and $90 million, also exceeding prior estimates of $78 million. The company is proceeding with its merger with ION Acquisition Corp. 1 Ltd. (NYSE:IACA) as planned. CEO Adam Singolda emphasized strong core business performance and growth initiatives, aiming to capitalize on the $64 billion Open Web market.
Taboola announced a multi-year renewal of its partnership with Dennis Publishing, enhancing engagement across its portfolio of over 30 brands. This renewal marks over a decade of collaboration. The agreement includes an expansion of Taboola's products, such as the Taboola Feed and Explore More, across Dennis's sites, aiming to increase audience engagement and monetization. Taboola is also going public through a merger with ION Acquisition Corp. 1 Ltd. (NYSE: IACA), highlighting significant growth potential.
Taboola, a leader in online recommendations, has launched Taboola High Impact, a new advertising solution tailored for brand marketers and agencies. This initiative focuses on enhancing brand awareness, allowing advertisers to effectively reach over 500 million daily active users across top publishers. Key features include innovative ad placements, premium content adjacency, and access to exclusive real-time readership data. With brands increasingly prioritizing awareness campaigns, Taboola aims to offer new revenue opportunities for publishers while revolutionizing brand engagement on the open web.
Taboola is going public through a merger with ION Acquisition Corp. 1 Ltd. (NYSE: IACA), valued at approximately $2.6 billion. The deal includes $285 million in PIPE financing led by top-tier institutional investors like Fidelity and BlackRock. Taboola, which generates 1 trillion recommendations monthly for 500 million users, aims to invest over $100 million in R&D, focusing on AI and eCommerce. The merger is expected to close in Q2 2021, providing Taboola with $600 million in cash post-transaction, enhancing its position in the $64 billion open web advertising market.