Outbrain announces $200m investment from The Baupost Group

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Outbrain, a London-based recommendation platform for the open web, today announced that, as part of its strategic financing plan, it has secured $200m in funding from Boston-based investment manager The Baupost Group.

“We are excited to announce this investment from The Baupost Group, who share our vision and commitment for our business, our team and our future prospects,” said David Kostman, Co-CEO of Outbrain.

“We proudly lead the recommendation space we created. We have bold plans for the future to continue delivering critical innovation to our premium media partners worldwide and expanding our powerful open web global advertising platform,” added Yaron Galai, Co-Founder and Co-CEO of Outbrain.

Jefferies and Citigroup served as placement agents to Outbrain. Mayer Brown LLP served as legal counsel to Outbrain. Ropes & Gray LLP served as legal counsel to Baupost.

Baupost manages roughly $31 billion with a broad and flexible charter, investing in a wide range of asset classes, including significant holdings in publicly traded debt and equity securities, private debt, real estate, and private equity. CEO and Portfolio Manager Seth Klarman has overseen Baupost’s investments from the company’s inception.

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