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Taboola is going public via a special purchase acquisition company, or SPAC, with the outfit listing on the NYSE in the hope of raising $545 million on a $2.6 billion valuation.
The content recommendation company’s public listing is taking place via the purchase of ION Acquisition Corp. which has $259 million in trust–the company will list using the ticker symbol TBLA.
Taboola has also secured an additional $285 million investment from outfits including Fidelity Management & Research, Baron Capital Group with the company expected to have $600 million on the balance sheet upon closure.
Adam Singolda, CEO of Taboola, told Adweek, the company intends to invest $100 million in R&D as it seeks to expand