The players
62 companies and organisations in the search arbitrage chain, what each one does in plain English, and where it sits in the chain.
Media.net
AcquiredContextual ad network built on Yahoo and Bing search demand, sold to a Chinese consortium for $900 million in 2016.
Feed providers & syndicatorsUSAMGID
PrivatePrivately held native ad network with a large footprint outside the US, widely used by affiliate and arbitrage buyers.
Native networksUSANewsBreak
PrivateUS local-news app with its own self-serve ad platform, popular with native and search arbitrage buyers.
Traffic sourcesUSAOutbrain (Teads)
TEAD +3.8%The other big native recommendation network; it bought Teads in 2025 and now trades as Teads (TEAD).
Native networksUSARevcontent
PrivateUS native ad network that connects performance advertisers to recommendation widgets on publisher sites.
Native networksUSATaboola
TBLA -2.7%The largest native ad network; its recommendation boxes on news sites are the classic native-to-search source.
Native networksUSA