Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.
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Taboola to acquire Connexity for $800M
Taboola, the online ad and recommendation provider, announced a deal to acquire digital advertising company Connexity for $800 million.
Los Angeles-based Connexity is a portfolio company of Symphony Technology Group, a private equity firm focused on software and analytics. The company works with merchants to determine which product offerings to put on publishers’ websites.
The deal comes roughly three weeks after Taboola went public on Nasdaq by completing a merger with a SPAC. The company trades under the ticker TBLA and was recently valued around $1.9 billion.
Index Ventures raises $3.1B
Index Ventures announced $3.1 billion in new funds this week. The capital will be spread across its seed-, early- and growth-stage funds. The firm will be investing across consumer, enterprise, gaming, fintech, and software infrastructure companies, according to an announcement from Index. Index has invested in companies including Robinhood and Glossier.
–Sophia Kunthara
Public offerings
Outbrain raises $160M in IPO: Outbrain, provider of an online advertising recommendation platform, raised $160 million in its initial public offering. The New York-based company priced shares at $20 each, below the projected range of $24 to $26. It will trade on Nasdaq under the ticker symbol OB.
Zomato surges in market debut: India-based food delivery provider Zomato saw shares surge in first-day trading, rising around 65 percent as investors snapped up stock. The company raised around $1.3 billion in the offering.
— Joanna Glasner
Illustration: Dom Guzman
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