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That the latter will turn off high-tech: another company is fleeing Israel because of the reform - voila! Of money


The high-tech company WIZ, which became a unicorn in only 9 months, decided to spend its money in Israel and leave here only what is necessary to manage its activities

Assaf Rapoport (center) at an event of the friends of the Tel Aviv Museum of Art, a few months ago. He spoke out against the reform - and finally did (Photo: Guy Yehiali)

The high-tech company Wiz decided to take most of its funds out of the country.

The company, which is considered a particularly prominent unicorn in Israeli high-tech, will transfer its business accounts abroad due to the legal reform, but will keep funds in Israel for management.

In recent weeks, the company's executives have been among the leaders of the "high-tech protest", and stood out especially at the main demonstration in Tel Aviv when they arrived wearing the company's uniform The

CEO of the company, Assaf Rapaport

, also expressed support for the protest and spoke out against the reform on several occasions.

In the background: Wiz's investors put pressure on the management and demanded that they spread risks because of the increasing risk of the Israeli economy following the reform and the protest, and as a result of the uncertainty in the field as they foresee the company in the future.

Wiz is considered Israeli pride in the high-tech world and managed to raise more than 350 million dollars in a little over a year, and without issuing a single announcement about the recruitment.

In December 2020, it raised $100 million, and its value exceeded $1.7 billion, which means that the company became a "unicorn" in just 9 months.

  • Of money

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  • High tech

  • Judicial system

  • protest

Source: walla

All business articles on 2023-02-07

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