Jul.27, 2012 | 9:39 AM–StartApp reaches 150 million users: The Israeli software company StartApp, which installs searchbar apps for smartphones, announced last week that its app downloads had reached 150 million people. StartApp has a business model based on profit-sharing fees earned from software downloads with app developers, similar to the model used by some the largest Internet companies in Israel. Those guys, such as Conduit and Babylon, generate high levels of revenue, and StartApp is consequently considered a promising prospect.
Intel Capital hires two new directors for Israel office: Intel Capital, the investment arm of the global computer chip maker, announced that it will be adding to its staff in Israel by recruiting two new investment directors – Yair Shoham and Merav Weinryb. Shoham previously served as a general partner in the Genesis Partners venture capital fund which focuses on seed investments in the communications industry and medical device market. Weinryb previously served as a principal (a senior associate) at the local venture capital fund Pitango and before that was an associate vice president responsible for corporate development and strategy at Comverse. One-third of Intel Capital’s staff works in Western Europe and Israel. Shoham and Weinryb are joining Uri Arazy, Intel Capital’s current investment manager in Israel.
34 Ventures invests NIS 7 million in Newzzapp: Locally-based venture funds are also expanding their investment activities in the local market. A new Israeli venture capital fund 34 Ventures has made its first investment, worth NIS 7 million, in Newzzapp, a company developing technology to mediate between news event photographers and communication networks…Read More>>