Adam Singolda: Yes, good morning, thanks for the question. This is maybe one of the main thing that keeps me excited, as it relates to our journey over the next three, four, five years, because I think today for advertisers and it’s – I think it’s always important to take the point that you have the clients. When advertisers and about 10 million of them spend on Google and 10 million about spend on Facebook, and we’re seeing the growth of advertisers spending with Amazon, and we’re seeing how more and more businesses, NVIDIA is spending so much energy on making sure that advertisers is – are supported because everyone sees the opportunity with the advertising sector. I think when you – their point of view is, it’s uniquely complicated to buy open web today, you have dozens of companies and they’re all in the sub $1 billion range revenue scale.
And then they have – you have – they each have different platforms, different account management team. It’s just too much, it’s too complicated too much. And I think for the most for the most part, there’s a very few amount of companies that actually have direct relationship with advertisers, right. We had about 18,000 clients working with us directly, which I’m proud of but imagine Taboola with 30,000, 40,000, 50,000 or 100,000, but to get there, to get to the point where advertisers says we need, Taboola is a must-have, we need a Taboola strategy, we have to be bigger. I think when we get Yahoo fully ramped up, and we get to our, call it, $2.5 billion run rate, we’re bigger than Twitter, right, at that point. We’re in the same realm as Snap and Pinterest, at that point it’s a whole different area code and I hope this is a – this is our one level up.
I place that these days, so this is when we get the master stores. This is where we get to become invincible and we’re one level up and advertisers will say, well, we can’t ignore this open web opportunity search for Google, social Facebook and Taboola and that’s not where we want to end, and we want to get to $4 billion, $5 billion in revenue and truly become an alternative to the walled gardens. So I see Yahoo as a great partner, an amazing source of supply, which is exclusive to Taboola as it relates to native, a lot of formats, a lot of homepage, a lot of goodness that has that with us. And I think it’s going to get us one step forward kind of getting outside of the attic as it is today, nothing wrong with that. But I do want Taboola to be just one step out bigger so advertisers build strategies with us.
Andrew Boone: Thanks Adam. And then you guys in the past have talked about bidding being a $1 billion plus opportunity. Understood the very good commentary out of Microsoft this past quarter. But talk about the path to be able to make that $1 billion opportunity. Where are you guys today and what needs to happen to get to that cycle? Thank you.
Adam Singolda: Sure, so yes, I’m very happy. First of all I’m always happy when we tell something to our investors and analysts and the year after it happens on time. So I’m very happy is Microsoft is double what it was a year ago, which is what we thought it’s going to be and it is. So that’s part of that makes me happy. As we’re still a new public company and we’re trying to both trust with our community. So I think over time this is going to be our bidder technology and there’s a lot of work. You’re right, we’re still new, it’s a start up within Taboola, it’s a start-up that makes hundreds of millions of dollars, but it’s still a start-up. We’re going to plug that in across all of our publisher base, this is still early stages and we want to do a good job.
And the way we want to think about it is, ever display inventory that exist across our 9,000 publishers, which I think those display inventory today they probably generate $20 billion, $30 billion. If we take 10% of it or 5% of it, this is a good billion. And then you have Yahoo, which has a very significant display business which I also hope to be 5%, 10% of. And then you have just other areas where we can bid into that completely sit outside of a browser like know CTV perhaps and other places. So over the next 3, 5 years, at the very least, I want to be part of our core display ecosystem. So that’s 9,000 publishers and Yahoo and I want to take a 5% of it or 10% of it. If that takes us 3 to 5 years, that’s a good billion or more. And then over time, I think we can get our bidder integrated into kind of non-browser environments, such as CTV and others, so that will take some time, but that’s how we get to a $1 billion and more.
Andrew Boone: Thanks.
Operator: Thank you. Our next question or comment comes from the line of Dan Day from B. Riley Securities. Mr. Day, your line is now open.
Daniel Day: Hi, good morning guys. Can you hear me?
Adam Singolda: Yes.
Stephen Walker: Yep.
Daniel Day: Hi, Adam and Steve, how are you?
Adam Singolda: Good. How are you doing?
Daniel Day: Too good. So just quick one from me, you talked about your focus in the near-term here being migrating spend to over to Taboola for the Yahoo inventory, just maybe if you could give us a peek into what your game plan is to make that happen as quickly as possible, as effective as possible in terms of migrating budgets over, is it just sales people reaching out to get test budgets over? You have incentives in place to start moving budgets over? And then, is there a plan down the line to deprecating the whole Gemini platform that maybe might get people using it to start at least testing on the fuller platform?
