An Unexpected Winner in the Waze Exit: A Not-for-profit Israeli Fund

Founded in attempt to entice the high-tech community to get more involved in Israeli non-profits, the Tmura fund is slated to receive $1.5 million from Waze's sale to Google.

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The enormous exit for Waze, the Israeli navigation app start-up sold to Google for $1.03 billion, has created long list of new millionaires - including the company's management. Founder Ehud Shabtai, who is...