High-tech guru Yossi Vardi owns 7% of Wibiya, which has raised just $2.5 million.
Toolbar software developer ConduIT Ltd. has acquired social toolbar applications developer Wibiya Ltd. for $45 million, mostly in cash.
Dror Ceder, Daniel Tal and Avi Smila founded Wibiya in 2008. Investors include Oren Zeev, former Bank Hapoalim chairman Shlomo Nehama (who owns 4% of the company), high-tech guru Yossi Vardi (who owns 7%), Oded Vardi, Jeff Pulver, and Primera Capital (24%). According to Israel Venture Capital, Wibiya raised $2.5 million.
So far as is known, Wibiya has almost no revenue - the main difference between it and ConduIT, which reportedly had over $200 million revenue in 2010.
Published by Globes [online], Israel business news - www.globes-online.com - on May 23, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011