Outbrain, which provides an online content marketing platform, raised $160 million by offering 8 million shares at $20, below the range of $24 to $26.
Outbrain states that it pioneered the online content recommendation category. Today, its platform enables over 7,000 online properties, helping them engage their users and monetize their visits by gathering over 1 billion data events each minute. Its key media partners include Asahi Shimbun, CNN, Der Spiegel, Le Monde, MSN, and Sky News and Sky Sports. In 2020, Outbrain provided personalized content feeds and ads to approximately 1 billion monthly unique users, delivering on average over 10 billion recommendations per day, with over 20,000 advertisers using its platform.
Outbrain plans to list on the Nasdaq under the symbol OB. Citi, Jefferies, Barclays, and Evercore ISI acted as joint bookrunners on the deal.
