Taboola Stock Gains After Apple Deal, What's Going On?

Taboola.com Ltd (NASDAQ:TBLA) founder and CEO Adam Singolda told Axios that his company secured a deal with Apple Inc (NASDAQ:AAPL) to deliver native advertising within the Apple News and Apple Stocks apps.

Taboola’s business model has grown to over $1.4 billion in annual revenue. According to marketing analytics firm eMarketer, Apple’s global ad revenues are projected to reach $10.34 billion this year.

Also Read: Taboola’s Fiscal 2024 Revenue and Earnings Estimates Cut by This Analyst Despite Strong Q2 Projections – Here’s Why

Apple announced selling over 1 billion subscriptions to its paid apps in 2023.

As an authorized advertising reseller for Apple News and Apple Stocks, Taboola will manage native ad placements in these apps across all available markets.

Taboola’s vast scale and direct relationships with publishers and advertisers make it an ideal partner for Apple.

Price Action: Taboola shares are trading higher by 5.47% at $3.47 at last check Tuesday.

Now Read:

• Small Caps Are Having A Moment: Russell 2000 Notches Best 5-Day Rally In Over 4 Years