At a Glance
A week after filing for IPO of its common stocks, New York-headquartered Outbrain has raised $200M from The Baupost Group at an undisclosed valuation
Outbrain, a recommendation platform connecting advertisers with open web consumers, has announced its raise of $200 million in a private equity round from The Baupost Group at an undisclosed valuation. The fundraising comes a week after it filed a proposal for the IPO of its common stock with the US Securities and Exchange Commission.
In a statement to the press, the company said that it was a part of its strategic financing plan. David Kostman, co-CEO of Outbrain, expressed delight at the investment and stated that The Baupost Group shared Outbrain’s vision and commitment to its business, team and prospects.
Outbrain, founded in 2006, enables online consumers to discover new things via recommendation feeds on their favorite media, connect advertisers and grow their business. Currently headquartered in New York, the company partners with publishers and marketers in over 55 countries and has offices in 18.
Reports indicate that Outbrain’s revenue touched $767 million in 2020 and $228 million in Q1 2021, where its net income reached $10.7 million.
Commenting on the funding, Yaron Galai, co-founder and co-CEO of Outbrain, said,
We proudly lead the recommendation space we created. We have bold plans for the future to continue delivering critical innovation to our premium media partners worldwide and expanding our powerful open web global advertising platform,Yaron Galai, co-founder and co-CEO of Outbrain