Staff of Reuters 2 minutes Reuters (Reuters) – Outbrain Inc, a web recommendation platform that filed for an IPO in the US late last month, announced on Tuesday that it had raised $200 million in capital from Boston-based investment management Baupost Group. The extra cash was raised at an undisclosed valuation, according to the corporation. Outbrain, based in New York, works with publishers and marketers in more than 55 countries. Through recommendation feeds on websites, its technology connects advertisers with viewers in order to help them develop their businesses. Outbrain, which was founded in 2006, now has operations in 18 cities around the world. It bills itself as a “mobile-first firm,” claiming that mobile platforms accounted for more than 66 percent of its income last year, according to its IPO filing. In January of this year, Taboola Inc agreed to go public through a $2.6 billion blank-check transaction. Outbrain reported $10.7 million in net income for the three months ended March 31 this year, compared to a $9.6 million net loss a year earlier in its IPO prospectus. In the same time period, revenue increased by 29% to $228 million. Niket Nishant contributed reporting from Bengaluru, and Maju Samuel edited the piece./n
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