Shalom Life | September 01, 2015

Israeli Startup Receives $30 Million Investment

China’s Richest Man Invests in Navigation Technology Firm Waze

By: Leonard Carl

Published: October 25th, 2011 in Business » World

Israeli Startup Receives $30 Million Investment
China’s richest man, Li Ka Shing, recently joined other shareholders that include Microsoft and Qualcomm, by making a $30 million investment in an Israeli startup company.

According to Globes, an Israeli business daily, the Chinese billionaire has invested in the navigation technology firm Waze, which will use the capital to support the more than 7 million drivers who use the application, while starting a traffic-reporting platform in China.

Waze, which uses the phrase “outsmarting traffic, together” in its marketing materials, provides drivers in 45 countries with shorter alternate ways to get to their desired destinations.

Developed by the Israeli start-up Waze Mobile for mobile phones, Waze currently supports iOS, Android, Windows Mobile, Symbian, and BlackBerry. Waze differs from traditional GPS navigation software as it is a community-driven application and learns from users' driving times to provide routing and real-time traffic updates. It is also free to download and use, as it gathers map data and other information from users who use the service. Additionally, people can report accidents, traffic jams, speed traps, police and can update roads, landmarks, house numbers, etc.

Waze also has its own social network where drivers report to each other .

New App Helps Religious Jewish Women with Niddah New App Helps Religious Jewish Women with Niddah TrendingHebrew National Hot Dogs Promote Eating Products with Bacon, Shellfish Hebrew National Hot Dogs Promote Eating Products with Bacon, Shellfish Trending'Birthright Excel' a Success for 5th Year in a Row 'Birthright Excel' a Success for 5th Year in a Row Trending
 

This Couple is Documenting their Conversion to Judaism on Instagram

August 27, 2015 | By Sy Berg
This Couple is Documenting their Conversion to Judaism on Instagram

2HipJews are putting the 'modern' back into modern Orthodox

Read More

Shalom Life is Saying Goodbye

August 27, 2015 | By Shalom Life Staff
Shalom Life is Saying Goodbye

After nearly 7 years, we are sadly ending Shalom Life's run.

Read More

Shaw Festival Review: The Intelligent Homosexual's Guide...

August 26, 2015 | By Hermine Steinberg
Shaw Festival Review: The Intelligent Homosexual's Guide...

Tony Kushner's family drama challenges it's audiences on so many levels, it leaves you breathless and beaten. It is awesome; astounding, humbling, overwhelming and remarkable.

Read More

Shaw Festival Review- The Divine: A Play for Sarah Berhnardt

August 23, 2015 | By Hermine Steinberg
Shaw Festival Review- The Divine: A Play for Sarah Berhnardt

This powerful play based on a true story is an absolute must-see this summer.

Read More

Top 10 Most Influential LGBT Jews

August 14, 2015 | By Ashley Baylen
Top 10 Most Influential LGBT Jews

These 10 LGBT celebrities are an inspiration to us all.

Read More

Crossfit “Guru” Does Handstand at Holocaust Memorial

August 14, 2015 | By Daina Goldfinger
Crossfit “Guru” Does Handstand at Holocaust Memorial

Dave Driskell apologized Monday evening for his actions

Read More

There’s a Jewish Rapper with a #1 Hit Record, and His Name’s Not Drake

August 14, 2015 | By B. Shane Morganstein
There’s a Jewish Rapper with a #1 Hit Record, and His Name’s Not Drake

Lil Dicky's 'Professional Rapper' sells 22,000 copies in its first week

Read More

Ben Gurion Airport Breaks All-Time Travel Records

August 14, 2015 | By B. Shane Morganstein
Ben Gurion Airport Breaks All-Time Travel Records

Reports indicate that some 78,000 travelers passed through the Israeli airport in a single day

Read More

More Headlines