Taboola.com Ltd (TBLA)

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Taboola stock rockets after 30-year agreement with Yahoo, making Yahoo the largest shareholder
8:44 am ET November 28, 2022 (MarketWatch)
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Shares of Taboola.com Ltd. skyrocketed 53.3% to pace all premarket gainers Monday, after the provider of recommendations for online editorial content and advertisements announced an exclusive 30-year commercial agreement with Yahoo. As part of the agreement, Taboola will power native advertising across all Yahoo digital properties, which is expected to drive more than 800 billion impressions, and Yahoo will receive 24.99% of Taboola's outstanding shares, which would make Yahoo the company's largest shareholder, according to FactSet data. Yahoo will also get one representative on Taboola's board of directors. Taboola expects the agreement add significantly to revenue, free cash flow and adjusted earnings before interest, taxes, depreciation and amortization (Ebitda). "This win-win partnership will meaningfully accelerate our growth flywheel, expanding our reach to more users on the open web with high-intent traffic to provide world-class solutions for advertisers, publishers, merchants and users in a cookie-less world," said Taboola Chief Executive Adam Singolda. Taboola's stock had tumbled 30.8% over the past three months through Friday, while the S&P 500 had slipped 0.8%.

-Tomi Kilgore


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