Wednesday 27-07-2016 12:03
Taboola Acquires ConvertMedia for Nearly $100m, to Boost Video Efforts
One of ConvertMedia's video ads, appearing on a Salon.com article
Content discovery network Taboola
– known for its 'you may like' sponsored links, which appear on the bottom of many webpages – has acquired outstream video ad platform ConvertMedia
The size of the deal is undisclosed, but TechCrunch
cites sources claiming that the figure is 'just under $100m'.
The acquisition is part of Taboola's efforts to become 'one of the top video/TV companies in the world', according to a blog post
announcing the deal. It will fold sponsored outstream video ads into its offering for publishers, and expects to stream over 1bn videos per day once ConvertMedia is integrated into its operations – putting it in the same league as Facebook and YouTube.
"We began our journey at Taboola with video recommendations, so in many ways it’s even more exciting to be here today, bringing both our technologies and teams together to one big family," said Taboola founder and CEO Adam Singolda. "We look forward to working together with our publisher and advertiser partners to deliver new experiences, connecting people with information they may like and never knew existed."
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