Media - Monday, July 31, 2006
Online Advice Site Kasamba To IPO in Tel Aviv
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Israel's Kasamba plans an IPO at $40-50M valuation on the Tel Aviv exchange in September. Kasamba was founded in 2000 as a web-based consultancy service for doctors. The company expanded its services to other fields like personal advice. Like its American rival Keen, Kasamba found that its best business was in tarot card reading and horoscopes delivered online.
JAL Ventures has invested $2M. The company claims it ended 2005 with sales of $10M. Kasamba is another case that we continue to see where founders stuck to it after the bubble burst and have come out clean through perseverance.
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