NEW YORK, July 11, Jul 11, 2022 (GLOBE NEWSWIRE via COMTEX) --
NEW YORK, July 11, 2022 (GLOBE NEWSWIRE) -- Taboola
, a global leader in powering recommendations for the open web, helping people discover things they may like, today announced it has completed its previously announced acquisition of Gravity R&D
The transaction brings Gravity R&D, a leading personalization technology company founded in data science to Taboola and adds the technology and the award-winning team behind Yusp to Taboola's technology. Previously, Gravity R&D founders had tied for first place for the Netflix Prize, a public competition to find a team to improve Netflix's recommendation technology.
Yusp is used by leaders in retail, e-commerce, and digital media including N11, Kaunet, GoShop, La Vanguardia, and Deutsche Telekom Hungary to provide personalized offers to customers to drive sales, increase average order sizes, build customer loyalty and create more positive user experiences.
With the acquisition of Gravity R&D, Taboola is adding a new research and development hub in Gravity R&D's headquarters in Hungary.
"Personalization is what continues to add true value to our recommendations," said Adam Singolda, CEO and founder, Taboola. "The world-class team behind Gravity R&D has spent years perfecting personalization as it relates to recommendations, making them a natural fit to join the Taboola family. Moving forward, we see immense value in their expertise and exciting new potential to attract new technology talent via a new research and development hub in Hungary as well."
Terms of the private deal were not disclosed.
Taboola powers recommendations for the open web, helping people discover things they may like.
The company's platform, powered by artificial intelligence, is used by digital properties, including websites, devices and mobile apps, to drive monetization and user engagement. Taboola has long-term partnerships with some of the top digital properties in the world, including CNBC, BBC, NBC News, Business Insider, The Independent and El Mundo.
More than 15,000 advertisers use Taboola to reach over 500 million daily active users in a brand-safe environment. Following the acquisition of Connexity in 2021, Taboola is a leader in powering e-commerce recommendations, driving more than 1 million monthly transactions each month. Leading brands including Walmart, Macy's, Wayfair, Skechers and eBay are among key customers.
Learn more at www.taboola.com and follow @taboola on Twitter.
Disclaimer - Forward-Looking Statements
Certain statements in this press release are forward-looking statements. Forward-looking statements generally relate to future events including future financial or operating performance of Taboola.com Ltd. (the "Company"). Forward-looking statements are not historical facts and relate to analysis or other information which are based on forecasts or future or results. Examples of such forward-looking statements include, but are not limited to the expected benefits to the Gravity R&D acquisition to the Company. Examples of such forward-looking statements include, but are not limited to, statements regarding future prospects, the proposed acquisition and business strategies. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements but are not the exclusive means for identifying such statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and there are risks that the predictions, forecasts, projections and other forward-looking statements will not be achieved. You should understand that a number of factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements, including the risks set forth under "Risk Factors" in our Registration Statement on Form F-1 (as amended or supplemented, including in any related prospectus) and our other SEC filings. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
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