Taboola, which helps companies advertise on some of the world’s most popular websites and apps, announced an acquisition to expand its reach further into e-commerce.
The company is paying $800 million in a combination of cash and stock to buy Connexity, a marketing technology company that operates an retail- and e-commerce-focused advertising network.
The acquisition of Connexity aligns with Taboola’s “Recommend Anything” growth strategy to introduce new types of recommendations and enter new segments, while leveraging its significant scale and recommendations platform to deliver even greater value to its 9,000 digital property partners, 13,000 direct advertisers and 500 million daily active users.
“The future of the open web is e-Commerce, and that’s where we’re going. I’m incredibly excited to announce the next big step in our journey — a definitive agreement to acquire Connexity, one of the largest e-Commerce media platforms on the open web,” said Adam Singolda, Founder and CEO of Taboola.
“The open web is really important, even essential, because it’s free and diverse and doesn’t belong to any one giant company. It belongs to everyone.”
Connexity reaches more than 100 million monthly unique shoppers per month, via relationships with 6,000 publishers, including Condé Nast, DotDash, Hearst, Vox Media, Meredith, News Corp Australia, and works with more than 1,600 retailers long-term, including companies like Walmart, Wayfair, Skechers, Macy’s, eBay and Otto.
The company helps some of the leading brands and merchants to reach their target audience on the open web and helps publishers develop content commerce strategies, surfacing products alongside editorial content.
According to data shared by Taboola, Connexity now has over 750M individual merchant product offers, drives 150M high value monthly visits to retailer websites, and generates over 1 million monthly transaction events on publisher sites, Instagram and other social networks, search engines, and more.
The acquisition of Connexity is Taboola’s first big move since going public in June by way of a SPAC.