Mail.ru Group has invested $ 2 million in the development of Israeli startup Magisto. Russian investors are increasingly attracted Israeli technology – the last two years they have invested in them about $ 60 million
The fact that the Russian Internet company Mail.ru Group has invested $ 2 million in Israeli startup Magisto, the official report says Magisto. This cloud mobile video platform, allowing amateurs to turn photos and videos into a short film. Service chooses the best moments from the downloaded video, emphasizing the most successful angles, and applies special effects and soundtrack of your choosing. The algorithm is also able to recognize faces, to distinguish people, animals, landscapes and other objects. New service for post-processing of multimedia content can already test users “Discover”, said Friday the owner of the social network Mail.ru Group.
Magisto have more than 20 million registered users, 29 million monthly downloading videos and photos and create 3.5 million movies. Since 2010, Magisto has invested $ 18.5 million Horizons Ventures, Magma Venture Partners, as well as company Qualcomm and SanDisk. Headquartered in Tel Aviv, offices – in New York and California.
Israel is widely known for its ecosystem for the creation and operation of technology projects. Many of them attract attention and Russian investors. For example, in 2010, “Yandex”, along with Israel Rhodium Fund invested $ 4.3 million in the company Face.com, provides facial recognition technology, and received a 18.4% stake in Face.com. Already in July 2012, the Company repurchased 100% Facebook. Source: “b” familiar with the deal, explained that Face.com was estimated at $ 55-60 million
Israel has a well-developed modern economy, in which a significant role is played by the high-tech industry, technology companies in this country have achieved prominence in various fields – from analysis to security, says partner fund Bright Capital Digital Vadim Tarasov. “The last few years, the country continues to boom startups – he argues. – Part Venture team Mail.ru Group is located, in Israel. Moreover, there is not much active early stage investment funds”.
Russian venture capital investors in the last two years have invested about $ 60 million in Israeli startups evaluated autumn 2013 Ernst & Young. Examples – on call taxi service online GetTaxi, system for comparing and booking services on the Internet Gbooking, developer of routers for enterprises and service providers Compass-EOS, the creator of the remote sensing and monitoring of wind for wind energy needs Pentalum. Actively cooperate with local projects fund “Skolkovo” and “Rusnano”.
deal with Magisto not Mail.ru Group’s first investment in the Israeli market, investment director reminds Development Fund online initiatives Maxim Steigerwald. In April 2010, the fund Digital Sky Technologies, later reorganized in Mail.ru Group, has agreed to purchase the corporation AOL for $ 187.5 million instant messaging service ICQ. AOL acquired ICQ (then – the Israeli company Mirabilis) in 1998 for $ 407 million addition, recalls Mr. Steigerwald, in June 2013 Mail.ru Group invested $ 1.5 million in the Israeli company Cortica, which is developing search technology for images on the Internet.
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