There’s something I haven’t seen mentioned in any of the articles about Google buying the Israeli startup Waze for a supposed $1.1 – 1.3 billion. Aside from the fact that Waze is able to stay its own entity and keep its team in Israel (proving that it can be done – and making things more interesting for future buyouts) is the fact that an Israeli charity, Tmura, won as well.
Tmura is a non-profit organization that allocates the funds received from startup exits to education- and youth-related charities in Israel. Many Israeli startups have agreed to donate a portion of their exits to Tmura – and according to the newsletter sent out this morning, “…Tmura is due to receive proceeds of $1,500,000 from Google’s expected acquisition of Waze (pending closing of course).”
F**k it, we'll do it live!
That’s amazing, considering the organization has one staff member and is basically run by volunteer VCs, like Eyal Gura at Pitango Venture Capital. 289 Israeli startups have signed up for this – which makes me wonder, why only 289? Certainly we have more startups than that in our eco-system. What kind of douche wouldn’t sign their startup for this? (The only valid excuse would be not knowing Tmura exists, and if you’ve read this – you don’t have that excuse anymore – go find Baruch Lipner, the Executive Director right now and sign up your startup).
Tmura has raised over $9 million dollars for Israeli kids in the past 11 years. I’d say that’s another big reason to celebrate this exit – and all of the exits from startups that are members of these organizations. How about we focus on that? And maybe we’ll have a few less people in the industry complaining about how everything wonderful is being ruined by success.
Other Israeli companies that have signed up to Tmura are: Outbrain, BillGuard, MyHeritage, Ravello Systems and Early Sense.
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