Apple Acquires Israel's Matcha.tv
The Israeli app has been defunct since May, but Apple hopes to breathe new life into it
Matcha.tv was an Israeli based iOS app that provided users with an overview of everything available to watch on cable, streaming services, and digital video stores. It also allows users to manage what they are viewing from a universal cue, provide recommendations, and connect via social networks to see what others are watching.
Now, Venturebeat reports that, despite having been shut-down since May, Apple has acquired the service. When asked by the tech magazine for comment, Apple responded with "Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans," an admittedly stock response.
Matcha.tv's CEO, Guy Piekarz, declined to comment.
Apple was said to have purchased the app for anywhere from $1-$1.5 million, according to Venturebeat, but an update from Ha'Aretz confirms that they've actually purchased the app for just over $10 million.
Given how Matcha.tv was seeing regular growth and continues to rank highly in the app store (it's been in the top 15 for quite a while), the latest figure seems to make much more sense.
It remains unclear how Apple hopes to utilize the Israeli TV service, although it is speculated that Matcha's technology may be in line with future plans the technology giant has in store for the next generation of Apple TV.
According to Ha'Aretz, Match was founded in 2010 and has since raised $300k from private investors.
The Matcha app, which has been circulating since May 2012, has been used by over a million iPad users. The company, however, was still unable to produce much revenue.
The Israeli app has been defunct since May, but Apple hopes to breathe new life into it
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The Israeli app has been defunct since May, but Apple hopes to breathe new life into it
The billionaire entrepreneur and progressive activist looks to bring his dream of creating a high-speed transport system to life
Tel Aviv's Reut Institute looks to bolster the rise of three-dimensional printing technology
The Israeli-based company will help AOL become a leader of the video platform industry
The eye-tracking tech startup is already available on Samsung's Galaxy S4 Device
The two countries are working together to develop a fifth generation of telecom technologies
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