Venture Capital - Tuesday, May 30, 2006
Ex Shopping.com CEO Sets Up VC Shop In Israel
Ex Shopping.com CEO Dan Ciporin is Chairman of a new venture called Internet Labs that has been tapped by two VC firms LightSpeed Venture Partners and Gemini Israel funds to fund about 10 Israeli seed-stage Web 2.0 companies. Shopping.com went public and was bought by eBay for $634M about a year ago. Ciporin is joined by his GM Oriel Ohayon who was ex-business director at AOL/ICQ.
Coincidentally, Ciporin funded Israeli start-up Vringo, based in Beit Shemesh. This startup was founded by an MIT-educated Israeli. It remains in stealth mode but we know it is targeting Internet video via cell phones.
Read - Dan Ciporin invests in start-up Vringo (Globes)
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thanks Jon for the note. more on our temporary web page http://www.lgilab.com
Posted by: ouriel at May 31, 2006 10:09 AM
Lgilab is part of a movement to push forward Internet in Israel. We believe that there is a great chance for Web 2.0 companies out of Israel. Shopping.com and ICQ are past success stories, but many more to come.
Posted by: Daniel Cohen at May 31, 2006 02:28 PM
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