Cyabra plans to go public via SPAC
Cyabra, a Tel Aviv-based company focused on fighting fake news and disinformation, is to go public via a merger with Trailblazer Merger Corporation I at $70 million; it will be traded under the symbol CYBR on NASDAQ.
The deal is planned to be complete by the end of the year 2024.
Key Points:
- Cyabra, a company specializing in fighting fake news, is going public.
- They will merge with Trailblazer Merger Corporation I for a valuation of $70 million.
- Cyabra's technology, developed by former Israeli special forces, detects fake accounts and misinformation.
- The company has partnered with governments and corporations to combat disinformation.
Cyabra, founded in 2018, has created algorithms to detect fake accounts and the sources of misinformation in social networks. Its solutions are based on complex algorithms and data analysis developed by former officers of the Israeli special forces.
Looking at the strategies that the company has put in place to fight fake news, it has already scored some great achievements. It has engaged with 19 governments globally to shield elections from disinformation and has partnered with massive corporations such as Warner Media to defend their brands.
Cyabra has received funding from some of the leading investors such as Founders Fund by Peter Thiel, OurCrowd, and Harpoon Ventures.
For instance, the ex-CIA Director and the former U. S. Secretary of State, Mike Pompeo, has served on the company’s board of directors, which clearly attests to the organization’s paramount mission of fighting fake news.
Such a move as going public through a merger with a special purpose acquisition company is evidence of Cyabra’s strategic orientation at the company’s development.
The money will allow Cyabra to improve its technology and expand its market, thus continuing its fight against online disinformation.
Thus, despite the recent difficulties in the market of SPACs, Cyabra’s merger is an indicator of the soundness of the company’s business model and the prospects for the development of this technology.
It remains to be seen how Cyabra will leverage this new position as it moves closer to its NASDAQ listing, and the industry will be waiting with bated breath to see how this company will continue to redefine the online trust and security landscape.
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