Outbrain, one of many prime purveyors of clickbait adverts, filed on Tuesday to lift a minimum of $100 million by way of an preliminary public providing — in the future earlier than its prime competitor begins buying and selling publicly.
The corporate, which calls itself a content material suggestion platform, locations so-called chumbox adverts on web sites, hoping to lure readers the way in which anglers use items of lifeless fish to lure different fish. It had $767 million in income final 12 months and $4.4 million in internet earnings, Outbrain stated in its submitting with the Securities and Alternate Fee. The corporate stated it had but to find out a value vary, valuation or providing value, and can goal to lift greater than $100 million.
Based in 2006, Outbrain says it funnels adverts to greater than 7,000 digital locations, paying websites like CNN, Der Spiegel and Le Monde every time customers click on on the adverts. Greater than 20,000 advertisers use its platform, in accordance with the corporate.
In 2019, Outbrain deliberate to mix with its chief rival, Taboola, however the association disintegrated final fall. Taboola stated this 12 months that it will go public by merging as a substitute with a so-called particular goal acquisition firm, or SPAC. It’s set to start out buying and selling on the Nasdaq alternate on Wednesday.