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IATI - Israel Advanced Technology Industries
IATI - Israel Advanced Technology Industries
IATI News & Events Daily Industry News Waze CEO: Israel will have many more billion dollar exits

Waze CEO: Israel will have many more billion dollar exits

Nov. 7, 2013

"In the past ten years, 39 companies joined the unicorn club (companies that achieved an exit of over $1 billion). Only one Israeli company belongs to this club, and it is Waze," Waze CEO Noam Bardin told a meeting of Tmura - The Israeli Public Service Venture Fund. Waze was acquired by Google for $1 billion earlier this year.

"Although Israel has a great many start-ups, the numbers are not proportionate. In the past ten years, 6,000 start-ups were founded in Israel, but there was only one unicorn," said Bardin. "Part of the historical reason for this is the lack of skill in allocating products. But Israel now has better skilled people in products in the industry, as well as programmers and engineers.

For the full Globes news item click here.

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