Outbrain, one of the leading purveyors of sponsored content, has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering (IPA) of its common stock.

The platform has applied to list its common stock on the NASDAQ Global Select Market under the ticker symbol “OB.”

The number of shares to be offered and the price range for the proposed offering have not yet been determined, yet it is believed that the company will be looking to raise at least $100m (£72.25m).

Outbrain had revenue of $767 million last year. In its filing, Outbrain said its content-recommendation platform is “fuelled by over 1bn data events gathered each minute.” The company generated over 66 per cent of its revenue on mobile platforms in 2020.

A registration statement relating to the proposed sale of these securities has been filed with the SEC but has not yet become effective. This means that the securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.