Taboola.com, a digital advertising company, has struck a deal with tech giant Apple to integrate native advertising into the Apple News and Apple Stocks apps.
The announcement on Tuesday led to a nearly 11% surge in Taboola’s shares.
Thousands of websites, including in Nigeria, use Taboola to sell ads.
The company is a native advertising ad tech founded in Israel. In 2023, generated a revenue of $1.4 billion.
The new agreement expands Taboola’s portfolio, adding a high-profile brand to its reselling contracts. It also offers Apple an opportunity to expand its advertising business.
Under the deal, the New York-based company will manage native advertising across Apple News and Apple Stocks apps globally and is authorized as an advertising reseller. Native advertising refers to ads designed to blend seamlessly with the platform’s content.
According to information on Apple’s developer website, Taboola can now sell ads within the feeds and articles of select publishers on the apps.
The deal was first reported by Axios.
Apple doesn’t disclose how many people use its apps but said last year that it sold more than 1 billion subscriptions to its paid apps, which includes Apple News and Apple Stocks.
Marketing analytics company eMarketer estimates that Apple’s worldwide ad revenues could reach $10.34 billion in 2024.
In June 2022, Apple extended an exclusive advertising reseller arrangement with Comcast’s NBC Universal from the U.S. to the UK for an undisclosed period.
Last year, Taboola struck a 30-year native advertising deal with Yahoo.
According to Axios, large companies with direct consumer relationships, such as banks, retailers and delivery companies, are building advertising businesses to make their services more affordable and widely available.
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