MediaOcean News
2 articles
growth-positive
The valuation reflects a premium of just over 100% on Innovid's current stock price on Wall Street but falls significantly short of the $1.3 billion valuation achieved during its 2021 SPAC merger.
Innovid, an Israeli digital advertising company, is being acquired by U.S.-based Mediaocean for $500 million, a significant decrease from its $1.3 billion valuation during its 2021 SPAC merger. The acquisition will result in Innovid being delisted from the New York Stock Exchange. Despite a 90% decline in stock value since its public debut, the deal is seen as beneficial for stakeholders, including Innovids founders and the Israeli investment firm ION. Innovid, which employs 470 people, recently laid off 10% of its workforce. The merger with Mediaoceans subsidiary, Flashtalking, aims to leverage opportunities in the digital advertising landscape, particularly amid regulatory challenges to Googles dominance. Innovids platform competes with Googles Campaign Manager 360, and the company expects to report $150 million in revenue for 2024.
Acquired-byLayoffs
growth-positive
Mediaocean acquires Innovid for $500M, delisting it from the NYSE | CTech
Innovid, an Israeli digital advertising company, is set to be acquired by U.S.-based Mediaocean for $500 million, significantly lower than its $1.3 billion valuation during its 2021 SPAC merger. The acquisition will result in Innovid being delisted from the New York Stock Exchange. Despite the decline in stock value, the deal is seen as beneficial for stakeholders, including ION and Innovids founders. Innovid, which employs 470 people, recently laid off 10% of its workforce. The merger with Mediaoceans subsidiary, Flashtalking, aims to leverage opportunities in the digital advertising landscape, particularly amid regulatory scrutiny of Google. Innovid has shown profitability and is expected to report $150 million in revenue for 2024.
Acquired-byLayoffs
