Founders of Gift Card Company BuyMe Sell Shares for $23 Million, Now Look to Global Market
The company markets gift vouchers to 5,000 of the largest companies and organizations in Israel who purchase them as gifts for employees, and is one of the leading players in holiday gifts for employees. With gift vouchers, employees can choose from 1,100 brands and businesses that the digital voucher company works with
Orna Yefet | 12:11 25.05.2020
The founders of BuyMe, an online giftcard company, sold their share in the company to Tel Aviv-based Teleclal Group Ltd., which owns a range of digital services companies. The deal was made at a company valuation of NIS 250 million (approximately $70.8 million), where the founders, who owned about one-third of the company's shares, will receive NIS 81 million (approximately $23 million). Teleclal preciously held a stake in BUYME, but will now become the majority shareholder. In 2019, Isracart acquired a 9.7% stake in BuyMe, and still retains that share.