Almost three years after social toolbar applications developer Wibiya was acquired by Conduit Ltd. for $45 million, Wibiya's founders have left the company for a new venture. Sources inform ''Globes'' that, two months ago, Wibiya's three founders - Dror Ceder, Daniel Tal and Avi Smila - left Conduit, which they joined in May 2011, after they sold their company to the Ness Ziona-based company.
Under the deal, Ceder, Tal, and Smila stayed on at the company in a separate department at Conduit's premises at the Ness Zion Science Park. In the past few months, Conduit has undergone many changes, the biggest of which is the sale of its toolbar business to Perion Network Ltd. (Nasdaq:PERI: TASE:PERI), basically merging the two activities in a single public company. What was left of the larger Conduit was mainly its mobile and U Internet browser businesses, which the company developed and which are mainly based on Google's popular Chrome browser.
In October 2013, Conduit decided to close its Wibiya activity and send its employees to other units, including the toolbars business, which was sold to Perion. As a result of these steps, in December, Wibiya's three founders decided to leave Conduit and embark on a new path.
Sources inform ''Globes'' that the three men are working on a new venture, Meta Flow Ltd., which is developing innovative products aimed at changing the weight loss industry through the use of proprietary technology that combines hardware, software, and a rich database. The three men declined to comment about the new company, but they have reportedly been joined by two women founders with science backgrounds.
Published by Globes [online], Israel business news - www.globes-online.com - on March 10, 2014
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