Israeli Startup Jobookit in Talks to Buy U.S. Content-sharing Site

Job-search tech firm seeks to transform into a wide-ranging Internet business.

The job-search technology company Jobookit Holdings said Tuesday on Tuesdayit is in talks to buy an unidentified American content and video sharing website for $2.5 million as its seeks to transform itself into a wide-ranging Internet business.

Jobookit said in a statement to the Tel Aviv Stock Exchange that the website it was in talks to buy was launched over a decade ago and enjoys heavy user traffic.

Citing Google Analytics, the website has had more than 4 billion page and videos hits viewed by 200 million visitors since the start of the year, with an average visit length of 6.5 minutes. The website was also said to have close to half a million friends on its Facebook page.

Based on the Internet ranking website Alexa, the website is ranked in the top 10 spots in its field in the world, according to Jobookit.

“With the completion of the acquisition we expect to become a significant player in the field of online content and video sharing,” said CEO Rafi Shkolnik. “We are working to create a holding company of income-producing Internet [properties] together with a strategy that does not make us reliant on any single customer. We will be that big.”

The acquisition is in line with strategy as the unnamed company generates its user traffic from the United States, Britain and Canada, where the rate paid for ad views is among the highest in the world. Jobookit will use the traffic to support its existing portofolio of websites, such as its job-search portal ExactMe!

The report sent Jobookit’s shares on the TASE up as much as 11.8% to 1.10 shekels a share but on a tiny trading volume of 200,000 shekels and the share closed unchanged The bulk of the acquisition price is expected to come in the form of a loan to the website that will be repaid over 24 months. 

Hagay Frid