Wix buys Israeli start-up Moment.Me

Wix

Moment.Me, whose platform creates multimedia albums of events, is Wix's third acquisition in a year.

Israeli company Wix.com Ltd. (Nasdaq: WIX) continues on its buying spree. Five months after acquiring restaurants start-up OpenRest, Wix, which operates a platform for easily building websites, is buying another Israeli company. This time, the company in question is Moment.Me, which has developed an Internet platform that gathers pictures and other material from different social networks and orders them into a multimedia record of an event. Moment.Me has published an announcement of the acquisition on its website and in a newsletter to its users, but Wix is not responding to the announcement.

The value of the deal has not been disclosed, but it is estimated to be around $10 million.

Moment.Me's announcement states: "Moment.me started as a simple idea to document people’s important life moments from all sorts of new angles. We started small and ended up impacting 5 Million user’s lives! with more than 15 Billion photos and videos clustered. It was a magnificent visual experience to behold.

"Due to our acquisition by Wix, the following services will be discontinued starting April 30th – Moment.me personal, Moment.me for Events, Moment.me Places, Moment.me Social Feeds and Moment.me Location Based feeds. Our LEADS service will keep going strong, accepting new users and supporting existing ones. Happily we share the same core values as the team at Wix, so you can expect to carry on receiving excellent services very soon."

According to the IVC database, Moment.Me was founded in 2012 by Ronny Alkayam (CEO), Boaz Adato, and serial angel investor Eilon Tirosh. The company raised some $3 million from Tirosh himself, Blumberg Capital, SingTel Innov8, and Titanium Investments. Alkayam refused to respond to questions from "Globes' beyond the company's announcement.

Published by Globes [online], Israel business news - www.globes-online.com - on April 2, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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