Turbulent Times for eSnips

eSnips is an extremely popular social content-sharing site based in israel that allows users to publish and share any type of media and provides up to 5GB of free storage space. Since its founding two years ago the site has shown tremendous growth: its 8 million unique visitors in January, according to Comscore, a significant increase from last year’s 2.5 million. It ranks 348 on Alexa’s traffic rating site.

While the company has raised $5 million in funding since its founding two years ago, however, its latest round of funding has fallen through, according to Techcrunch, because of the departure of founding CEO Yael Elish for “personal reasons.”

According to Globes, Dr. Nahum Sharfman, one of the founders of Shopping.com and CEO and co-founder of CommTouch Software Ltd., will join eSnips to replace Elish. After apparently laying off 16 out of its 20 workers, the hiring of Sharfman, who also happens to be a nuclear physicist, suggests that eSnips is attempting to put a promising company back on track.

For more see the Globes article (in Hebrew).

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