Really interesting #adtech news today:

• 1. Native is hard to scale, and no big media company has really cracked the case on their own. Under Marissa Meyer Yahoo introduced Gemeni, which was probably the largest effort. This deal reverses that and outsources to Taboola.

• 2. Clickbait-y native crap generates a ton of revenue. Including Yahoo's own native ads, they say this will generate more than $1 billion/year. For perspective, all of podcast advertising is $2 billion per year (US, IAB).

• 3. Both Taboola and Outbrain are undervalued public companies. But PE firms and strategic acquirers have held back because of their bad reputations, and also limited growth prospects. I see this deal as a re-affirmation that Taboola wants to stay independent.

• 4. 30-year deal!? The mind boggles. 30 years ago it was 1992, and there was no web browser. I'd really love to see some of the definitions in this contract -- what is "native" and what does "exclusive" mean?