Connect with us

Hi, what are you looking for?

Jewish Business News

Business

Samsung Acquires Israeli Start-up Boxee for Cloud-based Digital Video Recording


The price is believed to be less than $ 28.5 million , the amount that was invested by VC’s. 

boxee-box

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.

Israeli company Boxee has been bought by Korean electronics giant Samsung for a sum in the tens of millions of dollars. The company is expected to release an announcement shortly. Boxee declined to give a response to “Globes”. $28.5 million have been invested in Boxee, so the investors and founders are not expected to gain from the exit.

Two weeks ago, it was reported on technology website VentureBeat that Boxee had been sold to an unknown buyer, and that it would publish an announcement , but none came. Boxee would not comment on that report.
Boxee was founded in 2007 by Avner Ronen, Tom Sella, Idan Cohen, Gidon Coussin, and Roy Vulcan Its leading product is the Boxee Box. The company has developed an interface for home streamers that makes possible recording of content and storage of it in the cloud, and also easy access to Internet video content and use of various applications. Two years ago, Boxee, together with Taiwanese company D-Link, launched its first device, the Boxee Box. A year ago, it launched the Boxee Cloud DVR, but neither product was a great success.
Among the investors in Boxee are venture capital firm Pitango and Softbank. There were various reports about the company trying to raise a further $30 million, but it apparently found it difficult to complete the round.
Samsung will probably integrate Boxee’s interface into its televisions and will keep Boxee’s 40 employees on the payroll. Half of them are in Israel.

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

Copyright © 2021 Jewish Business News