Israel’s mobli will also invest $10 million in US content monetization company Pheed.
Mobli Media, an Israeli mobile social networks, photo and video-sharing platform, has acquired content sharing platform, Pheed, in a cash and stock deal. No financial details were disclosed, but Israeli media reports estimate that mobile will pay $40 million.
Mobli plans to invest $10 million in the remake of Pheed, which will remain a stand-alone platform.
Pheed launched in late 2012, is a mobile social network, which has gained five million users, mostly teenagers. Pheed platform lets users share text, photos, videos and audio. The app gained notoriety last year when it topped Apple’s App Store.
Mobli founded in 2007 by Moshe Hogeg. In November 2013, the Mexican billionaire Carlos Slim led a $60 million financing round through his company America Movil SAB de CV (BMV; NYSE: AMX; Nasdaq: AMOV; BMAD: AMXL).
Slim’s investment brought the amount of capital raised by mobli to $89 million.
Mobli has 70 employees in Israel.
Mobli’s CEO Moshe Hogeg said : “Content monetization is a continuous challenge. We are passionate about giving our users possibilities to monetize their content and Pheed has taken strides in this direction. We are excited for the future of Pheed as a part of the Mobli family.”