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OD Kobo’s High-Profile @ShellanooGroup Incubator Abruptly Cancels Tel Aviv IPO

OD Kobo’s High-Profile @ShellanooGroup Incubator Abruptly Cancels Tel Aviv IPO

Shellanoo disclosed amid great mystery and fanfare, that it was planning to raise 100 million shekels ($26.5 million) or more, in an initial public offering on the Tel Aviv Stock Exchange by October, as previously reported by ExitHub.

In a twist of fate. now the group’s investors, including billionaire Roman Abramovich, music luminaries including Tiesto, Avicii, will.i.am, David Guetta, Sebastian Ingrosso (of Swedish House Mafia), Nicki Minaj, Benny Andersson (of music group ABBA), plus super agents Ash Pournouri and Gee Roberson (previously chairman of Geffen Records and now part of Maverick Management), and other celebrities and friends such as supermodel Bar Refaeli and her brother Dor, who co-founded Blindspot, can tell O.D. Kobo –anonymously– what they really think, using Shellanoo’s Blindspot app.
Shellanoo said it currently manages “over $200 million in assets.” The IPO was supposed to be managed by Poalim IBI-Management & Underwriting Ltd (TASE: PIU), Israel’s leading local investment bank. “In a one-line statement to the bourse, Shellanoo – which last month said it would raise at least 100 million shekels ($27 million) in a share offering – did not give a reason for the cancellation and did not provide further details,” Reuters reported. “The main criticism Israeli financial journalists raised is that the (pre-revenue) company’s leading app – the messaging app Blindspot – has only 1.4M active users who are mainly teenagers in Brazil and dozens of potential apps that will be released later on,” wrote SeekingAlpha contributor, Lior Ronen, a financial analyst and CEO of Finro. “These dozens of new apps bring more of the same to already saturated markets like online dating, job hunting, used goods sales, social media and much more. The potential of these apps to gain substantial market share in the markets they target is tiny, while using a freemium model and in-app purchase revenue streams, make the potential revenues growth highly unlikely,” he added. Relying on Blindspot, “which tried penetrating a boiling market of messaging, the company is light years away” from even relatively small players like Telegram, with 100M monthly active users (MAU), and Kakaotalk, with 48M MAU (not to mention big players such as WhatsApp, Facebook, QQ Mobile, WeChat, Microsoft’s LinkedIn, Skype, Viber, Line, or Blackberry) noted Ronen, as illustrated in his chart below. messaging_apps_mau_stats Shellanoo said it had closed a $35 million round of funding in April 2015, in conjunction with the launch of its music sharing app Music Messenger. Last year Shellanoo’s backer Abramovich was said to have acquired for 100 million shekels The Varsano luxury boutique hotel property, nestled within the trendy historical neighborhood of Neve Tzedek in Tel Aviv, which he is expected to turn into his Israeli hôtel particulier. The hotel business has already been permanently closed. He’s also said to be periodically scouting for new high-tech investment opportunities in Israel. [caption id="attachment_6155" align="aligncenter" width="748"]The Roman Abramovich Hôtel Particulier in Neve Tzedek,Tel Aviv. The Roman Abramovich Hôtel Particulier (formerly Varsano) in Neve Tzedek, Tel Aviv.[/caption] Shellanoo is the brainchild of Oded “O.D.” Kobo, a serial Israeli Internet entrepreneur born in Hong Kong. He started his IT career at the age of 20 by developing patented technology for the lottery industry. He later moved back to Asia to establish IT outsourcing facilities. He is a co-founder of Chinese Internet companies KGIM, SinoSheen and Koolanoo Group. KGIM, a holding group of multiple Internet companies, and a seed investment group once partnered with the Prime Minister of Qatar HH Al Thani, was later sold to East River Capital for $80 million. In 2012 he founded social media app Pheed, which was sold for $40 million in 2014 to Mobli Media, a company controlled by Mexican tycoon Carlos Slim. Kobo is a former board member of Camden Market Holdings (LSE: MKT), a real estate conglomerate based in London, controlled Israeli property tycoon and technology entrepreneur Teddy Sagi. In December 2015, Shellanoo launched Blindspot, a new anonymous messaging app that gives people the opportunity to express their true feelings, without revealing their identity – unless they choose to. “Blindspot is definitely one of our portfolio’s liveliest projects,” said O.D. Kobo, chairman of Shellanoo Group. The idea for Blindspot emerged from a 12-hour hackathon at Shellanoo’s headquarters in Israel. “When you remove the barrier of identity between people things start to get interesting,” says Kobo. Blindspot is perfect for flirting or chatting. Users can message anyone in their contact list for one-to-one communication, sending text, images, voice-notes and video. Perhaps it’s the loud, cartoon-style design, the game-like interface, or simply the ability to message people anonymously. Whatever it is, Blindspot opens up a whole new world of communications. Message recipients can easily block other users and can ask senders to reveal their identity at any time. Any user that is blocked by three people is removed from the app. Any misuse can be raised directly with Blindspot. “What would you say to people you know if you were anonymous?” ask Dor Refaeli and Lee Greenberg, co-founders of Blindspot. “Most users want to flirt, play jokes on friends or share secretive information they would otherwise be scared to reveal. There’s so much fake comment on social media – it can be like an airbrushed version of life. We want people to have fun, and most of all we want people to be real with one another.” blindspot-refaeli Dor Refaeli (above, L) is the younger brother of Israel’s international supermodel Bar Refaeli (above, R). Funding terms and the equity share split between Shellanoo and Blindspot’s founders Refaeli and Greenberg were not disclosed. (Upper) Photo: O.D. Kobo and his wife Etty (Instagram/Walla).]]>

OD Kobo’s High-Profile @ShellanooGroup Incubator Abruptly Cancels Tel Aviv IPO

Abramovich, OD Kobo's Shellanoo Incubator Set for $26.5M Oct Tel Aviv IPO

Music Messenger. The group’s investors include billionaire Roman Abramovich, and attracted investments from music luminaries including Tiesto, Avicii, will.i.am, David Guetta, Sebastian Ingrosso (of Swedish House Mafia), Nicki Minaj, Benny Andersson (of music group ABBA), plus super agents Ash Pournouri and Gee Roberson (previously chairman of Geffen Records and now part of Maverick Management), and several others. Last year, Abramovich was said to have acquired for 100 million shekels The Varsano luxury boutique hotel property, nestled within the trendy historical neighborhood of Neve Tzedek in Tel Aviv, which he is expected to turn into his Israeli hôtel particulier. The hotel business has already been permanently closed. He’s also said to be periodically scouting for new high-tech investment opportunities in Israel. [caption id="attachment_6155" align="aligncenter" width="748"]The Roman Abramovich Hôtel Particulier in Neve Tzedek,Tel Aviv. The Roman Abramovich Hôtel Particulier (formerly Varsano) in Neve Tzedek, Tel Aviv.[/caption] Shellanoo is the brainchild of Oded “O.D.” Kobo, a serial Israeli Internet entrepreneur born in Hong Kong. He started his IT career at the age of 20 by developing patented technology for the lottery industry. He later moved back to Asia to establish IT outsourcing facilities. He is a co-founder of Chinese Internet companies KGIM, SinoSheen and Koolanoo Group. KGIM, a holding group of multiple Internet companies, and a seed investment group once partnered with the Prime Minister of Qatar HH Al Thani, was later sold to East River Capital for $80 million. In 2012 he founded social media app Pheed, which was sold for $40 million in 2014 to Mobli Media, a company controlled by Mexican tycoon Carlos Slim. Kobo is a former board member of Camden Market Holdings (LSE: MKT), a real estate conglomerate based in London, controlled Israeli property tycoon and technology entrepreneur Teddy Sagi. In December 2015, Shellanoo launched Blindspot, a new anonymous messaging app that gives people the opportunity to express their true feelings, without revealing their identity – unless they choose to. “Blindspot is definitely one of our portfolio’s liveliest projects,” said O.D. Kobo, chairman of Shellanoo Group. The idea for Blindspot emerged from a 12-hour hackathon at Shellanoo’s headquarters in Israel. “When you remove the barrier of identity between people things start to get interesting,” says Kobo. Blindspot is perfect for flirting or chatting. Users can message anyone in their contact list for one-to-one communication, sending text, images, voice-notes and video. Perhaps it’s the loud, cartoon-style design, the game-like interface, or simply the ability to message people anonymously. Whatever it is, Blindspot opens up a whole new world of communications. Message recipients can easily block other users and can ask senders to reveal their identity at any time. Any user that is blocked by three people is removed from the app. Any misuse can be raised directly with Blindspot. “What would you say to people you know if you were anonymous?” ask Dor Refaeli and Lee Greenberg, co-founders of Blindspot. “Most users want to flirt, play jokes on friends or share secretive information they would otherwise be scared to reveal. There’s so much fake comment on social media – it can be like an airbrushed version of life. We want people to have fun, and most of all we want people to be real with one another.” blindspot-refaeli Dor Refaeli (above, L) is the younger brother of Israel’s international supermodel Bar Refaeli (above, R). Funding terms and the equity share split between Shellanoo and Blindspot’s founders Refaeli and Greenberg were not disclosed. (Upper) Photo: O.D. Kobo and his wife Etty (Instagram/Walla).]]>

OD Kobo's Shellanoo Group Launches Refaeli's Blindspot Messaging App

OD Kobo's Shellanoo Group Launches Refaeli's Blindspot Messaging App

Music Messenger. The group’s investors include billionaire Roman Abramovich, and attracted investments from music luminaries including Tiesto, Avicii, will.i.am, David Guetta, Sebastian Ingrosso (of Swedish House Mafia), Nicki Minaj, Benny Andersson (of music group ABBA), plus super agents Ash Pournouri and Gee Roberson (previously chairman of Geffen Records and now part of Maverick Management), and several others. “Blindspot is definitely one of our portfolio’s liveliest projects,” said O.D. Kobo, chairman of Shellanoo Group. The idea for Blindspot emerged from a 12-hour hackathon at Shellanoo’s headquarters in Israel. “When you remove the barrier of identity between people things start to get interesting,” says Kobo. [caption id="attachment_428377" align="aligncenter" width="635"]od_kobo O.D. Kobo and his wife Etty (Instagram, Walla).[/caption] Message recipients can easily block other users and can ask senders to reveal their identity at any time. Any user that is blocked by three people is removed from the app. Any misuse can be raised directly with Blindspot. “What would you say to people you know if you were anonymous?” ask Dor Refaeli and Lee Greenberg, co-founders of Blindspot. “Most users want to flirt, play jokes on friends or share secretive information they would otherwise be scared to reveal. There’s so much fake comment on social media – it can be like an airbrushed version of life. We want people to have fun, and most of all we want people to be real with one another.” Dor Refaeli is the younger brother of Israel’s international supermodel Bar Refaeli. Funding terms and the equity share split between Shellanoo and Blindspot’s founders Refaeli and Greenberg were not disclosed. Blindspot is available for free download from the Apple App Store and Google Play. Shellanoo is the brainchild of Oded “O.D.” Kobo, a serial Israeli Internet entrepreneur born in Hong Kong. He started his IT career at the age of 20 by developing patented technology for the lottery industry. He later moved back to Asia to establish IT outsourcing facilities. He is a co-founder of the Chinese Internet companies, namely KGIM, SinoSheen and Koolanoo Group. KGIM, a holding group of multiple Internet companies, and a seed investment group once partnered with the Prime Minister of Qatar HH Al Thani, was later sold to East River Capital for $80 million. In 2012 he founded social media app Pheed, which was sold for $40 million in 2014 to Mobli Media, a company controlled by Mexican tycoon Carlos Slim. Kobo is a former board member of Camden Market Holdings (LSE:MKT), a real estate conglomerate based in London.]]>

Berggruen Residential Denies That Madonna Bought a $20M TLV Penthouse at Meier on Rothschild

Berggruen Residential Denies That Madonna Bought a $20M TLV Penthouse at Meier on Rothschild

BRGN.B1) has reportedly denied reports in the US that Madonna has bought a $20 million penthouse at the Meier-on-Rothschild tower in Tel Aviv, according to Israeli business media. According to Globes, the company told the Tel Aviv Stock Exchange, “Reports in the US and UK media that pop singer Madonna has bought an apartment in the tower are not correct. Due to rumors, Berggruen Residential is for once breaking its usual rule about not reporting details on talks with potential buyers, and stating that the negotiations with the singer Madonna several months ago did not end in a deal.” According to a March 6 report by TMZ, Madonna had purchased a $20 million custom-designed luxury penthouse duplex atop Berggruen Residential’s Meier on Rothschild breath-taking Tel Aviv skyscraper. TMZ is a celebrity news website launched in 2005. It was a collaboration between AOL and Telepictures Productions, a division of Warner Bros., until Time Warner divested AOL in 2009. The name TMZ stands for thirty-mile zone, the historic “studio zone” within a 30-mile radius centered at the intersection of West Beverly Boulevard and North La Cienega Boulevard in Los Angeles, California. TMZ’s managing editor is Harvey Levin, a lawyer-turned-journalist who was previously a legal expert for the Los Angeles television station KCBS-TV. Frequently referenced by various media, TMZ is one of the most-cited entertainment news sources, utilized by national network and local newsgathering organizations. As reported by DealmakersHub on February 27, 2015, Berggruen Residential, developer of the ultra-luxury Meier on Rothschild tower at 36 Rothschild Boulevard in Tel Aviv, announced that it had reached a record-breaking NIS 1 billion ($250 million) sales benchmark for single residential building revenue in Israel. Meier-on-Rothschild “There is, and there will always be, a demand for quality and exceptional location and Meier on Rothschild tower is a great example of it,” said Yigal Zemah, the company’s CEO. “In December we have witnessed high sales volume which passed 60 million NIS and there is much more interest in the last remaining apartments and penthouses.” Berggruen has retained the services of Italian super-designer Patricia Urquiola as the interior designer of the ‘summit’ space, which will be used as a model penthouse. Berggruen Residential--Palace in the sky penthouse Meier on Rothschild, designed by world famous award-winning architect Richard Meier, was selected by Forbes as one of the ten most prestigious towers in the world. Berggruen Residential--Meier on Rothschild tower Berggruen Residential is owned by international businessman Nicolas Berggruen, and the Israeli Hagag-Cohen real estate development group.]]>