Published On: Sun, Dec 7th, 2014

CallApp Sold For $4 Million

CallApp

Israeli super caller ID app CallApp has been acquired for $4 million from Giza Ventures and Susquehanna Growth Equity, Calcalist has reported.

Angel investors Sa’ar Wilf and Moshe Lichtman also invested.

CallApp was founded in 2011 in an attempt to connect social media with phone contacts, helping provide for universal caller ID. The app recently broke the 5 million download mark. Last May, it registered more than 50 thousand downloads a day, bringing it to the top 100 apps of Google Play store.

The company boasts that its users can see information about anyone regardless whether the other caller is initiating or receiving a call, in your contact book, connected to you via social networks, or a CallApp user.

CallApp syncs contacts in your phonebook and updates them with their latest picture and information from all the major social networks. It also combines your phone’s dialer with its local search platform.

The sale of CallApp came after a court dispute and a period when it had many potential buyers.

Amit On, one of the founders of the company, was appointed CEO. He told Calcalist, “The company got on track. We were able to close round leading global investment funds in a short time. In the near future we will focus on continuing the expansion of the product and building the strongest team in the field. [The money] will allow us to accelerate growth and reach tens of millions of users.”

Eyal Niv of Giza Venture Capital said, “The investment represents great confidence on the part of not only our partners but also large organizations in order to lead the company. CallApp is a world leader in the emerging field that combines the old-fashioned phone numbers with the vibrant world of social media.”

CallApp founder Oded Lubitsch told Calcalist that he, ” invented and founded the company and under my leadership it has made many achievements. I am very proud of my team and grateful for their dedicated work”.

Read more about: , , , , , , , , , , , , , , , , , , ,

Wordpress site Developed by Fixing WordPress Problems