Tech Nation Children’s App Startup TabTale Expands to China

Inbal Orpaz
Reuters
A woman walks out of AOL offices in New York in this November 19, 2009 file photo
A woman walks out of AOL offices in New York in this November 19, 2009 file photoCredit: Reuters
Inbal Orpaz
Reuters

Children’s app startup TabTale expands to China and buys Coco Play

Israeli children’s app publisher TabTale has announced it is buying Coco Play, a Hong Kong- and China-based developer of educational apps and games for kids. The deal will enable TabTale to break into the market in China and reach a wider global audience. The company did not release any financial details of the deal. TabTale finished 2013 with a profit on sales of $15 million. The company raised $12 million in Series B funding in October 2013, and says it is still looking for expansion opportunities around the globe. Coco Play has 2 million monthly active users and TabTale’s some 25 million. “The Chinese mobile market presents a large opportunity for TabTale, and Coco Play’s expertise will guide us as we learn the ecosystem,” said TabTale’s CEO Sagi Schliesser. (Inbal Orpaz)

RAD launches its $32-million R&D center in Be’er Sheva

RAD Data Communications inaugurated its new research and development center in the high-tech industrial park in Be’er Sheva on Sunday. The company will invest 110 million shekels ($32 million) in its construction over three years in cooperation with the Chief Scientist’s Office in the Economy Ministry. The center will be part of RAD’s subsidiary RAD Negev and develop programmable networks. When finished, the center is expected to employ 90 engineers, most of whom will live in Be’er Sheva and the south. So far 30 software engineers have been hired and this number is expected to reach 50 by the end of this year. (Inbal Orpaz)

AOL to invest in Israeli startups

AOL is starting a program in Israel to assist startups, and will invest at least $100,000 in as many as 10 projects at a time, the company announced Sunday. The Internet giant already has a development center in Israel, and its new project, Nautilus, is meant to give “maximum freedom to entrepreneurs” and “grant them access to all the tools and connections of a global company”, said Hanan Laschover, CEO of AOL Israel. AOL will escort each startup, to be chosen from a variety of fields that are connected to its global activities, for a year, the firm said. (Reuters)

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