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NEW YORK - Taboola (NASDAQ:TBLA), a $1.25 billion market cap company known for its recommendation technology for the open web, has secured an exclusive three-year partnership with LINE, a global platform with a wide array of digital services reaching nearly 200 million monthly active users. This collaboration designates Taboola as LINE’s inaugural third-party partner for offering a news service in regions where it was previously unavailable. According to InvestingPro data, Taboola maintains a strong financial position with more cash than debt on its balance sheet.
The partnership will see LINE Plus, the business division of LINE that operates internationally, integrate Taboola News into its global offerings. This feature aims to provide personalized recommendations and advertisements to users, leveraging Taboola’s extensive network of publishers.
Taboola’s relationship with LINE began in 2021, and this new agreement expands upon their existing collaboration. Eunjung Lee, CEO of LINE Plus, emphasized the importance of news in connecting people worldwide and praised Taboola’s contribution to enhancing user recommendations through its advanced technology.
Adam Singolda, CEO and Founder of Taboola, expressed enthusiasm about the partnership, highlighting LINE’s significant user base and its role as a trusted platform for communication and content discovery.
Taboola’s AI-driven platform is utilized by numerous digital properties to drive monetization and user engagement. It boasts long-term partnerships with leading digital entities, including Yahoo, CNBC, and Business Insider. The company also claims a strong presence in e-commerce recommendations, facilitating over a million monthly transactions with prominent brands such as Walmart (NYSE:WMT) and eBay (NASDAQ:EBAY) among its clientele.
The announcement includes a disclaimer regarding forward-looking statements, cautioning that the actual results could differ from the plans and predictions due to various risks and uncertainties. This partnership reflects Taboola’s commitment to expanding its global reach and enhancing the user experience with personalized content.
The information in this article is based on a press release statement.
In other recent news, Taboola has renewed its longstanding partnership with Reach PLC, marking the 13th year of collaboration between the two companies. The agreement allows Reach PLC to continue using Taboola’s suite of products, including Taboola Feed and Explore More, across its UK, Ireland, and U.S. publications. This partnership aims to enhance user engagement and revenue for Reach’s notable publications. Meanwhile, JMP Securities has adjusted its price target for Taboola shares from $6.00 to $5.00, while maintaining a ’Market Outperform’ rating. The firm anticipates Taboola’s fourth-quarter 2024 results to align with its predictions, despite challenges in search engine optimization affecting eCommerce initiatives.
In another development, Alpha Star Acquisition Corporation has extended its deadline to complete a business combination until June 15, 2025. This decision was approved by shareholders during an Extraordinary General Meeting, allowing more time to finalize a merger or acquisition. The extension includes modifications to the company’s investment management trust agreement, permitting up to six monthly extensions for liquidating the trust account. These recent developments reflect Alpha Star’s strategic approach in identifying a suitable business combination.
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