Giza Venture Capital is leading a $3 million seed investment in online social networks company Koolanoo Group Ltd.. Other investors are private individuals.
Oded Kobo and Guy Greenberg founded Koolanoo, which it bills as “The World’s First Jewish Social Network”, in 2006. The company is developing a platform for social networks and video sharing, as well as marketing tools. The company is operating several social networks, and is also developing social networks in China.
This is Giza’s fourth seed investment under its Ofek (“horizon” in Hebrew) program, in which it invests up to $500,000. Giza managing director Ori Israely will join Koolanoo’s board. He said the investment in the company would be in stages, depending on the meeting of certain milestones. “Koolanoo is a classic Internet company for the present era, and we’re very interested in companies of this kind. We invested in Koolanoo because of its plans to also operate in rapidly growing markets outside the US. Oded and Guy attracted our attention thanks to their excellent marketing skills.”
Published by Globes [online], Israel business news - www.globes.co.il - on February 25, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007
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