US-based advertising software producer Perfect Market has been acquired by content discovery platform Taboola for an undisclosed fee, giving an exit to media corporation Tribune and cable service provider Comcast.
Following the acquisition, Taboola’s content discovery platform, used on content throughout the web, will now move into product recommendations with the launch of a new product, Taboola-X, and Taboola will now include advertisements alongside its content promotions.
Perfect Market had raised just over $30m in funding since spinning out of incubator Idealab in 2007, including a $9m series D round in 2011 led by Comcast Interactive Capital, a corporate venturing subsidiary of Comcast, that also featured Tribune, Idealab, Rustic Canyon Partners and Trinity Ventures.
Tribune also participated in a $6m series C round in 2010 together with Rustic Canyon, Trinity and Idealab.