Embedded photo start-up PicApp Ltd. has been sold to digital marketing company Ybrant Digital Ltd. of the US. In the statement on the company's blog yesterday, PicApp co-founder and CEO Eyal Gura did not state the size of the deal.
Founded in 2008, PicApp raised $3.2 million from Carmel Ventures and private investors Yair Goldfinger and Lenny Recanati.
Gura said, "Today we are happy to announce that the partnership with Ybrant Digital is taking one step further, and the PicApp team will be joining the Ybrant group of companies. PicApp will continue to operate as an independent unit within Ybrant, but this will of course further open us the door to their realm of advertisers, many (many!) publishers."
The Picapp widget enables online publishers to transform every static image to a dynamic slideshow. The company also lets bloggers publish pictures and share profits.
Published by Globes [online], Israel business news - www.globes-online.com - on April 7, 2011
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