Web 2.0 - Wednesday, October 8, 2008
VC Firm Buys Ownership In Israeli Advise Site Bitwine
Monster Venture Partners has bought a controlling stake in Bitwine, an Israeli startup that allows users to ID subject experts and get answers to questions. Financial terms of the acquisition were not disclosed. At the same time, Monster says that they have named former Expedia manager Ronnie Gurion as CEO.
The model is that experts get to set their prices, as much as $2 per minute, and then Bitwine gets 20%.
Monster Venture Partners is the venture arm of Rob Monster, former founder of online market research firm Global Market Insite. The big idea here is to aid the service will be integrated with other portfolio companies of Monster Venture Partners, including Questions.com, Careers.org and Traveler.com.
There are a large number of competitors here but also some nice rivals to aspire to. Bitwine compets wtih LivePerson, which acquired Israel-based Kasamba for about $40M last year. The big boys Google Answers and Yahoo Answers also are throwing elbows here.
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