Adam Singolda: “This past year, we realized we’ve been walking among wolves—but now I know who my true friends are”
Adam Singolda: “This past year, we realized we’ve been walking among wolves—but now I know who my true friends are”
The Taboola CEO reflected on the challenges of navigating anti-Semitism and finding strength in solidarity in a panel with Ori Birnbaum, co-founder of Global Impact Ventures, and Reed Rayman, a Partner at Apollo Global Management.
"I moved to the United States 15 years ago, and being Israeli in New York has always felt even better than being American; it's almost a superpower. Sometimes we're arrogant and think we know everything, we may have our problems, but we're authentic, we're good partners, and that's why I've always been accepted," said Adam Singolda, CEO of Taboola, during a conversation with Ori Birnbaum, co-founder of Global Impact Ventures, and Reed Rayman, a Partner at Apollo Global Management.
The panel took place at the annual Journey conference, hosted by the consulting and accounting firm EY.
"What happened in the past year is that we realized we've been walking among wolves for a long time. Someone I knew, Paddy Cosgrave, the founder of Web Summit, made an anti-Semitic comment on Twitter. I told him he was a wolf, and I was glad when he lost his job. I am optimistic about the future of Israel, and now I know who the wolves are—the haters. But I also discovered amazing people whose love for Israel is deep and genuine, and now I know who the true friends are," he said.
Rayman added that perhaps the only positive outcome from the events of October 7 was the "awakening" of the Jewish identity among American Jews. "It's no longer possible to be Jewish and not care about Israel. I have good friends here, and at Apollo, we stand by the values of justice. It’s important to take a stand. We have global partners, and people appreciate those who stick to their values," he said.
In response to Birnbaum's question about the 30-year partnership between Yahoo (owned by Apollo) and Taboola, which he called "one of the most unexpected moves by an Israeli entrepreneur," Singolda explained that it was Rayman who reduced the partnership to 30 years, while Singolda wanted it to last 50 years. "The generation of companies in Israel today is inspiring, and it's amazing to be part of those who think big. When I built Taboola, Yahoo was in the same league as Google and other companies I thought I’d never be able to work with. But then, when Apollo bought Yahoo, one of our board members reached out to Reed, and he told me to be patient. It’s funny how people end up doing business with each other. This deal opened my mind to how big we can really be," he said.
Rayman added that acquiring Yahoo was a good and enjoyable deal. "When Verizon decided they wanted to buy Yahoo along with other companies, I knew Ad Tech wasn't their focus. So, I knew that when they decided to sell, they would want someone to buy all the companies together. When Verizon’s CEO wanted to sell Yahoo, he called us. It was an interesting deal, but immediately after the purchase, we developed a strategy to recover the investment in each part of the business. We thought about how to take Ad Tech and monetize it, so we partnered with Taboola. That’s why I also told him we wanted to buy 25% of his company. It’s a win-win-win deal," he said.
When asked how to raise $500 million, Singolda replied, "My best advice is to raise from someone who knows you first. Then, it’s people like Reed who become crucial. Initially, it could be an angel investor or someone familiar with you. Later, find people who can redefine your dreams so you can think big."
