Outbrain, a leading recommendation platform for the open web, announced that, as part of its strategic financing plan, it has secured $200 million in funding from Boston-based investment manager The Baupost Group.
“We are excited to announce this investment from The Baupost Group, who share our vision and commitment for our business, our team and our future prospects” said David Kostman, Co-CEO of Outbrain.
Recommended AI News: Cost of Fraud In Asia-Pacific Markets Is High According To LexisNexis Risk Solutions Study
“We proudly lead the recommendation space we created. We have bold plans for the future to continue delivering critical innovation to our premium media partners worldwide and expanding our powerful open web global advertising platform” added Yaron Galai, Co-Founder and Co-CEO of Outbrain.
Recommended AI News: Quorum Receives Research Funding for Machine Learning Project
Jefferies and Citigroup served as placement agents to Outbrain. Mayer Brown LLP served as legal counsel to Outbrain. Ropes & Gray LLP served as legal counsel to Baupost.
The Baupost Group is a Boston-based investment manager with a long-term, value-oriented approach. Since 1982, the firm has been thoughtfully stewarding and compounding capital on behalf of families, foundations and endowments, as well as employees who collectively are the firm’s largest client. Baupost manages roughly $31 billion with a broad and flexible charter, investing in a wide range of asset classes, including significant holdings in publicly traded debt and equity securities, private debt, real estate, and private equity. CEO and Portfolio Manager Seth Klarman has overseen Baupost’s investments from the company’s inception.
Recommended AI News: Arthur Named A 2021 Gartner Cool Vendor In AI Governance And Responsible AI
Comments are closed.