Clickbait advertiser Outbrain debuts on Wall Street at downsized valuation

Clickbait advertising giant Outbrain debuted Friday on the Nasdaq at a valuation $300 million below its target.

The company went public at $20 a share, well below the range of $24 to $26 set by Outbrain and its investment bankers a few weeks ago. The reduced offering price meant the company went public at a valuation of $1.1 billion instead of its $1.4 billion and raised $160 million in proceeds, or $40 million less than anticipated.

Outbrain, headquartered near City Hall, is paid by companies to place advertising headlines at the bottom of news articles. The headlines are often silly and focused on weight loss, celebrities and other

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