Apple Buying Israeli Startup for an Estimated $1.5 Million by the Forward

Apple Buying Israeli Startup for an Estimated $1.5 Million

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Apple is buying the Israeli start-up, reported the website VentureBeat, a move that would make Matcha the multinational’s second acquisition in Israel.

Matcha, which was founded by Guy Piekarz, is being bought for a relatively small sum of about $1 million to $1.5 million, VentureBeat said, citing an unnamed source. But speculators say the actual sum could be much higher, given that Matcha was routinely ranked among the top 15 apps in Apple’s app. store.

Last week, TheMarker reported that Apple was likely to be expanding its operations in Israel, with a lease on 12,500 square meters of office space in Herzliya Pituach. The space, within Bayside Land Corporation’s new O2 development, could house 600-1,200 employees. Apple is believed to currently employ 400-600 people in Israel.

Matcha was founded in 2010 and raised $300,000 from private investors. Its product is an application that functions as a TV guide for the modern age - letting users know which shows are available on various sites such as Netflix and Hulu, it also contains a social aspect that shows friends’ viewing recommendations. The app also makes recommendations based on users’ viewing record.

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Apple Buying Israeli Startup for an Estimated $1.5 Million

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Apple Buying Israeli Startup for an Estimated $1.5 Million

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