Outbrain, one of the top providers of clickbait ads, filed on Tuesday to raise at least $100 million through an initial public offering — a day before its top competitor began publicly trading.
The company, which calls itself a content recommendation platform, holds the so-called Chambox Ad On websites, anglers use pieces of dead fish to entice readers to entice readers. Outbrain said in its last year it had $767 million in revenue and $4.4 million in net income. filing with the Securities and Exchange Commission. The company said it has not yet set a price range, valuation or offering price, and will aim to raise more than $100 million.
Founded in 2006, Outbrain says that whenever users click on ads, it funnels ads to more than 7,000 digital destinations, paying sites like CNN, Der Spiegel and Le Monde. According to the company, more than 20,000 advertisers use its platform.
In 2019, Outbrain planned to forge an alliance with its main rival, Taboola, but the arrangement fell apart last fall. Tabula said this year that it will go public by merging with a so-called Special Purpose Acquisition Company, or SPAC. It is set to begin trading on the Nasdaq Exchange on Wednesday.