Outbrain Announces $200 Million Investment from The Baupost Group
NEW YORK, July 06, 2021 (GLOBE NEWSWIRE) -- Outbrain, a leading recommendation platform for the open web, today 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.
“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.
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.
Outbrain is a leading recommendation platform for the open web. Our technology enables one-third of the world’s online consumers to discover new things through recommendation feeds on their favorite media and connects advertisers to these audiences to grow their business. Outbrain partners with publishers and marketers in more than 55 countries worldwide and is headquartered in New York City, with offices in 18 cities worldwide.
About The Baupost Group
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.