Taboola, a content discovery platform, announced Monday it acquired Perfect Market, a digital publishing software provider.
Terms of the acquisition were not disclosed. Taboola said it expects a $250 million run-rate with the addition of Perfect Market, an increase from the company’s reported run-rate of $100 million last year.
More than 400 million unique visitors use Taboola’s recommendation tool, which helps readers find articles similar to ones they’re reading online. With the deal, the New York company will launch Taboola-X to offer a “one-stop shop” for full-page monetization across its platforms.
Perfect Market had raised more than $30 million before the deal, with investments from Comcast Interactive Capital, Idealab, Rustic Canyon Partners, Tribune Company and Trinity Ventures. The tech firm and its 20 employees are expected to stay in Pasadena. Chief Executive Julie Schoenfeld will take on an advisory role.
“We’re excited to join forces with Taboola to help even more publishers in the market by expanding our product offerings to mid-market publishers for the first time,” Schoenfeld said in a statement.
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