If you're not waking up in the morning and the first thing you do is take your coffee and go to your office or computer and see how the prompt from last night ended, you're missing out.
We're here at Possible in Miami at the NYC Speakers Corner and I'm pleased to be joined by the CEO of Taboola, Adam Singolda. Adam, welcome.
Thanks for having me. This is great to see you again. Great to see you here, especially in Miami.
I know. What brings you to Possible?
It's a lot of quality time with really senior people. We get to meet, socialize, and come up with ideas. I think the comparable is probably Cannes Lions, but it's a bigger schlep. I go to that too, but this is really effective, productive, and a lot of people are here. It's getting bigger. I don't know if it's getting too big. This hotel is mayhem. I tried to get an elevator, but it's really working. It's really good.
And let's talk about the latest and greatest at Taboola. Obviously, generative AI when it comes to search and this new engine called Deeper Dive. What more can you share?
It's interesting to see how there's so much change in an industry. It's almost hard to catch up because by the time you're catching up, something new has been introduced. Deeper Dive, which we launched in September of last year, is growing really fast. It's essentially our version of ChatGPT but for the open web. So if you know what you want and you go to ChatGPT, you can ask a question, but when you go to the open web, a lot of the time in the context of trying to learn something, I want to take a trip with my family, I want to buy a product, or I have a healthcare thing on my mind. ChatGPT is a good quickie: I ask a question, I get an answer, but it's not giving me the material I need to really be educated on the topic. So we launched Deeper Dive. You can go to USA Today, Huffington Post, or Nextstar, which is a huge broadcaster, and many of these great sites. You can ask a question in your own language, you get the short answer you expect as a consumer, but then you get articles and videos to read that are relevant to what you wanted to learn about, and through that you get educated. You can ask a follow-up question. The performance is something I've never seen in my time doing this. Traditionally, people use web products about 1% to 2% of people come and try things. This is one in six people, so 15% to 20% of people are using Deeper Dive. People love chatting and conversing with publishers. I'm really excited. I think there's going to be a whole new revolution of how we consume the internet, which will be much more conversational and different from what we see from Gemini and ChatGPT, because consumers, when it comes to important decisions, need journalism, the open web, they need a human point of view about something.
How is Deeper Dive, this generative AI search tool, different from the experience of going to a publisher?
Today, if you go to a publisher, the traditional experience is there's a homepage, I may click on something to read an article, I may read one more article, but that's what we've been doing for the last 30 years. We used to have a site search, it's still there, but it's not really being used. With Deeper Dive, I can ask any question in my own language. I don't have to be searching, I don't have to be discovering. I can ask it in any way that's on my mind. Let's take an example. I like the Knicks.
There's a very important game tonight at 8:00 p.m. which we're obviously going to win.
So I can go to USA Today and say, 'What are the chances the Knicks win the championship? There's a big game tonight. What do you think?' And it will give me a very brief answer, but then it will say, 'Here are seven things you should read about it.' The performance of that is unbelievable. The chances I read one more thing is 10%, 15%, 20%. So people are really leaned in. And for advertisers, we show an ad as part of the search results, like Google does, and the performance for advertisers is our number one ad placement as a company, and we are a two-plus billion dollar revenue company. To see something that works so well for advertisers is exciting. I think as we see here at Possible, the advertising community is eager to know about AI monetization, what's going on, where is it going?