Taboola and Outbrain Have Exhausted Every Opportunity to Butt Heads, Says Venture Capitalist
Israeli venture capitalist Chemi Peres, one of the first backers of viral content company Taboola, comments on the company’s recent merger with rival Outbrain
Meir Orbach : 2019-10-06T15:42:15..
One of the greatest challenges that hampered the negotiations between Taboola.com Ltd. and Outbrain Inc. over their merger deal, announced last week, had been the multitude of investors behind each company. The two New York-headquartered content distribution companies, both founded in 2006, raised a combined $300 million in equity funding over the years from some of Israel’s leading venture capital funds and other strategic investors. On Taboola’s corner, Israeli venture capitalist and Pitango co-founding partner Nechemia (“Chemi”) Peres was one of the first investors. “You work very hard to differentiate yourself in a tough market, and these two companies are not all that different,” Peres told Calcalist in an interview following the merger announcement. “I’m pleased they got over the difficulties, merging was the right move any way you look at it, especially now that the two companies have exhausted every opportunity to butt heads.”