Taboola plans to go public via a merger with ION Acquisition Corp., a special acquisition corporation.
The transaction with the SPAC is expected to close in the second quarter. The combined company will operate under the Taboola name and will trade on the NYSE under the symbol TBLA. The deal gives Taboola a pro forma valuation of about $2.6 billion.
“The open web is really important, even essential, because it’s free and diverse and doesn’t belong to any one giant company. Think about every website you love — every game, app on a mobile device or connected TV that lives outside of the walled gardens,” Taboola CEO and founder Adam Singolda said in a blog post.