Sources inform ''Globes'' that mobile multimedia start-up Mobiexell Networks Ltd. will fire 20-25 employees, about 15% of its workforce. The company said in response, "We tried to avoid laying off staff when the labor market was worse, but we now have no choice but to adjust our expenses to the market conditions."
Ra'anana-based Mobixell is developing a platform to enable cellular operators to optimize multimedia content. The company was founded in 2000 by CEO Amir Aharoni and CTO Yehuda Elmaliach.
According to IVC Online, Mobixell has raised $29 million in four financing rounds from Intel Capital, Apax Partners, Comverse Technology Inc. (Pink Sheets: CMVT), Optibase Ltd. (Nasdaq: OBAS), and other investors.
"Globes" named the company as one of Israel's most promising start-ups in 2009.
Published by Globes [online], Israel business news - www.globes-online.com - on October 22, 2009
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