Content recommendation engine Taboola has raised USD 117 million in series E funding led by Fidelity Management and Research Company, the investment advisor to Fidelity’s family of mutual funds. The latest round brings the total capital of the company is USD 157 million and its valuation has been estimated to be near USD 1 billion.
The new funding will be used to improve its technology, to expand its R&D or by acquiring companies and technologies as well as for global expansion and enter new markets.
The existing investors Marker LLC and Steadfast Capital, as well as new strategic investors including Advance Publications (parent of Condé Nast and Advance Digital), Comcast Ventures, Mr. Carlo De Benedetti (chairman of the Gruppo Editoriale L’Espresso), Groupe Arnault (the controlling shareholder of LVMH), Yahoo! JAPAN, and others have also participated in the round.
Recently the company was also planning to go public but as per a GeekTime report it’ Israeli founder and CEO Adam Singolda denied any immediate plans for an IPO.
“We’ve decided at this stage not to go public because we think it’s not the right thing for us at this stage, but that doesn’t mean we’re ruling it out in the future when the conditions are ripe.”
Taboola is a content recommendation platform that pairs advertisers with publishers, delivers more than 200 billion content recommendations to over 550 million users every month. Its publisher sites include the Atlantic Monthly, BBC, USA Today, Business Insider, the Chicago Tribune, FOX Sports, and the Weather Channel. Founded in 2007 by CEO Adam Singolda in Israel, the company started out as an engine for personalized video recommendations and later moved into editorial and sponsored content recommendations. A significant portion of Taboola’s current revenue comes from mobile devices and it has earned USD 200 million in 2014. It also having offices in New York, London, Pasadena, Bangkok and Tel Aviv.
Taboola is directly competing with another Israeli startup, Outbrain, which has raised USD 99 million in six rounds and is rumored to have filed for an IPO this past November.