Israeli company Ibetcha.com has completed a primary financing round, in which it raised $2 million in a private placement. The company value for the placement was not disclosed, but it is estimated at $8 million, after money. One of the investors in this round was Alex Giladi, who helped found Channel Two concession Keshet and is vice president of NBC Sport.
Other investors in this round are listed company Amanet and its managers, and three leading high-tech figures, whose names were not disclosed. In the previous round, at the seed stage, the company raised $280,000 from private investors in Israel and overseas.
Ibetcha.com sets up Internet sites which include competitions between users in fields such as financing and sport. The money raised is intended to enable the company to establish offices in New York, launch its site in the US and the world, and continue with development.
Ibetcha.com was founded in April 1999 by Omar Shvili and Tal Cohen, and has a staff of 20 employees.
Published by Israel's Business Arena on January 31, 2000