KOLKATA: Taboola, a content discovery and advertising platform, announced it has become a publicly listed company trading on Nasdaq under the new ticker symbol 'TBLA'.

Taboola reported revenue of $303 million and net income of $18.6 million in Q1 2021, outperforming its original revenue and profit projections and raising its full-year expectations, the company said in a statement.

Taboola joins Nasdaq at a time when online advertising on the open web accounts for more than an estimated $60 billion in spending per year. Taboola’s direct partnerships with digital properties and the value inherent in being an editorial recommendation engine positions the company well in a dynamic privacy environment, it added.

“Today is a significant milestone for Taboola, one that cements our commitment to power recommendations and be the champion for the open web,” said Taboola CEO and founder Adam Singolda.

Advertising and publishing industry veterans Deirdre Bigley and Lynda Clarizio were added to Taboola’s board of directors, effective April 2021. Taboola recently announced Gilad Shany, CEO of ION as an addition to its board as well.