Spot.IM concentrates all the resources allocated to manpower for the recruitment of five super programmers who will receive the best conditions available in Israel
Spot.IM announces a $ 25 million financing round. This was the company‘s third financing round, led by Jeff Horing, founder, and CEO of Insight Venture Partners, and Norma Investment, representing businessman Roman Abramovich and Altair Capital, Including $ 37 million in all rounds.
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Spot.IM develops technologies that add social layers to news and content sites. The investment will be used to continue developing technologies for the largest content sites in the world, enabling the building of communities of surfers and influencing surfing habits. So sites that have become free content providers for Facebook and Twitter will be able to fight social networks that exploit content from external sites to build communities on their platform.
Spot.IM was founded in 2012 by Nadav Shoval and Yishai Green. The company’s products are installed on the world’s leading news sites including Fox News, Forbes, AOL, Time Inc, Huffington Post, Sky, Oath and more. According to the Web site SimilarWeb, every month more than 400 million users watch more than a billion and a half pages on which the company’s products are installed. Spot.IM has offices in Tel Aviv, London and New York where 40 employees are employed.
According to Nadav Shoval, CEO and co-founder of Spot.IM: “Publishers have been used too long by social giants such as Facebook, sharing content created by publishers and thus benefiting communities and discussions on social content that do not belong to them. The networks are generating a significant increase in revenue from surfers, who were supposed to reward the content producers and not the network that stole it. Our goal is to return to the sites the communities of surfers who will consume the content directly from the site in which it was created, to hold discussions and to experience the uniqueness of the audience. ”
“Capital raising will be used to further develop products that are expected to change the way people consume content from sites,” says Yishai Green, vice president of technologies and founders of Spot.IM. That is why we recruit high-level programmers in Israel. Most of the companies that pay large sums of money allocate a large sum of money to people abroad and in Israel, but we decided to invest all the resources allocated to manpower for the recruitment of five super programmers and not dozens of employees, as is customary, which will help bring the best companies to enjoy the conditions that no corporation Will not satisfy them. “