Shares of online recommendations provider Taboola.com (NASDAQ:TBLA) are skyrocketing today after the company announced a 30-year exclusive commercial agreement with Yahoo to provide native advertising on all of Yahoo’s digital properties.
Further, Taboola stands to gain from yahoo’s scale (900 million active users a month) and Yahoo will receive 24.99% of pro forma equity in Taboola.
Add to this, the partnership stands to garner an annual revenue of ~$1 billion, and a representative of Yahoo will join Taboola’s Board as its single biggest shareholder.
The agreement, approved by the Boards of both companies is anticipated to close in Q1 2023. After dropping almost 78% over the past year, Taboola shares are already up nearly 65% in the pre-market session today.
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