CTech’s Daily Israeli Tech News Roundup
The Israeli regulator blocks cryptocoins company Natural Resource Holdings out of Tel Aviv stock exchange indices. WeWork just leased its largest ever coworking space. Teva to unveil strategic plan, layoffs on Thursday
18:0112.12.17
The Israeli regulator blocks cryptocoins company Natural Resource Holdings out of Tel Aviv stock exchange indices. Last week, Calcalist reported that the shelf company will merge with Quebec-based cryptocurrency mining company Backbone Hosting Solutions. Last Sunday, the company had a market capitalization valuation of NIS 133 million. On Monday Market close, Natural Resource reached a market capitalization of NIS 964 million, making it the 111th company on the exchange in terms of size, bigger than Israel’s national carrier El Al Israel Airlines. The regulator’s announcement sent stock value crashing down. Read more
WeWork just leased its largest ever coworking space. The company signed a lease earlier this month for a ten-stories Downtown Shanghai building, set to be the company’s largest space ever. Read more
Teva to unveil strategic plan, layoffs on Thursday. Last month the debt-riddled drug maker announced a rehabilitation plan amidst rumors of upcoming employee cuts. Read more
Auto Electronics Manufacturer Lear Buys GPS Startup EXO Technologies. Israeli startup EXO Technologies develops GPS technology for autonomous and connected cars. Read more
Former Blumberg Capital Partner Raises New Fund. Israeli investor Alon Lifshitz is raising a new $120 million fund, to be called Hanaco Venture Capital. The fund already raised $80 million, primarily from family offices. Read more
Payroll Management Startup Papaya Global to Offer Cryptocurrency Payment Option. The Tel Aviv startup develops a workforce management software. It will now offer employers the option to pay up to 30% of salaries in cryptocurrency. Read more
