Chinese investors to buy Israeli app BlindSpot

Dor Refaeli and Lee Greenberg

The $28 million acquisition of the anonymous messaging app is part of Oded Kobo and Roman Abramovich's Shellanoo Group's disinvestment from Israel.

Just one year after it was launched in Israel, the controversial anonymous messaging app BlindSpot is being acquired by Chinese investors for $28 million cash.

BlindSpot is owned by Shellanoo Group, controlled by Russian billionaire Roman Abramovich and Israeli high-tech entrepreneur Oded Kobo. Shellanoo Group had planned an IPO on the Tel Aviv Stock Exchange (TASE) this month but the offering was cancelled due to public criticism that the company valuation was exaggerated.

In their disappointment Kobo and Abramovich then said they would be moving their investments out of Israel and the sale of BlindSpot would seem to be the first move in that direction. Shellanoo is also selling a music app for $4 million.

BlindSpot was developed by Dor Refaeli, brother of Bar Refaeli and allows users to send an anonymous message, raising fears that it can facilitate cyber bullying.

Published by Globes [online], Israel business news - www.globes-online.com - on September 26, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

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Dor Refaeli and Lee Greenberg
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