Outbrain has appointed its first chief financial officer as signs point to an initial public offering [IPO] early next year that could be worth as much as $1 billion [£635 million].
The content discovery service has signed up Jeff Davison as CFO who brings a quarter of a century of public and private company financial experience to Outbrain and adds fuel to the fire that an IPO is imminent.
“Jeff is joining the company at a pivotal moment in our growth, and his deep experience at both public and private companies make him an ideal choice to further cement our reputation as a leader in the content marketing space,” said Outbrain CEO Yaron Galai.
Davison will be responsible for Outbrain’s day-to-day financial business as well as its accelerated global growth program that will see him reporting to Galai. The new CFO arrives off the back of 12 years at RightNow Technologies where he oversaw its IPO as well as a $1.8 billion [£1.14 billion] takeover by Oracle earlier this year.
“Outbrain has been a true pioneer in the content marketing space, and they are helping to set the tone for a rapidly growing industry. I’m looking forward to helping this company realize its full potential and make a name for itself as one of the great tech success stories,” Davison added.
The IPO should be launched at some point in 2014 and the latest reports state that Outbrain will seek $200 million [£127 million] to $300 million [£190 million] from Wall Street as part of it. Haaretz, an Israeli news site, estimates they will go for a valuation of $1 billion [£635 million] with other news sources in the same country going for a slightly more cautious figure of between $700 million [£444 million] and $800 million [£508 million].