Israeli’s Mobli Gets $20 Million from single Kazakh Investor
Israeli social media start-up Mobli has gotten a lot of attention and a lot of money from celebrities. Leonardo DiCaprio alone invested $4 million in the company last year. Lance Armstrong and Serena Williams are also both investors. Now Kenges Rakishev, a businessman from Kazakhstan, has just invested $20 million in the company.
Mobli is an online platform that allows users to share their real time experiences, as seen by their mobile phones, with other people online. Users download the Mobli app onto their phone, which will then upload their video or photo content to the Mobli site. People can then search for feeds to watch based on location, subject, or from a specific person.
According to Mobli’s CEO and founder, Moshe Hogeg, “Mobli’s objective to make it possible to see what is happening in the world through other people’s eyes.” He makes the analogy to another popular social media sharing site, “If the substance of Instagram is effects of pictures and shares, we want to offer the option of seeing, what is happening at the Eiffel Tower or at Barcelona’s Camp Nou Stadium. That’s our vision, and we have a long way to go to achieve it.”
Rakishev’s investment should go a long to helping Mobli achieve their goal. It’s part of the company’s most recent round of funding, totaling $22 million. Clearly, Rakishev’s investment is the substantial part of this most recent search for capital. In return, Rakishev will take a seat on Mobli’s board.
Rakishev explains his interest in Mobli: “Mobli leverages social media to meet a very real human need to visually share experiences, thoughts and ideas with other people in real-time.”
The company currently earns its revenue through advertising it sells on the site. It didn’t publicly share the valuation used to entice this new investment. However, estimates have been ranging between $100 and $300 million. Hogeg says that Rakishev’s participation on such a large scale “validates our business model. This latest injection of capital will support the continued innovation and development required to become the premier destination for mobile photo and video sharing.”
Mobli isn’t Rakishev’s first investment in an Israeli company. Just last month, he announced his investment of $5 million in TriPlay Digital Content Ltd, a joint U.S./Israeli company. Rakishev is considered one of Kazakhstan’s most influential businessmen despite his young age. He earned his first fortune in petrochemicals and has been investing in tech companies ever since.
About the Author: Menachem was previously a feature article writer for the Milwaukee Journal. He currently runs a small publishing business in Michigan focusing on books and magazines for the tourist industry. He is looking forward to writing for Jewocity and connecting with its readers. More about Menachem