A Blow for Israeli Startups? Jeff Pulver Quits PulverMedia

Jeff Pulver announced in his blog that he’s resigning as director of PulverMedia. Here’s a rough translation of Guy Grimland’s article in the Marker:

A Blow for Israeli Startups? Jeff Pulver Announces His Resignation from PulverMedia

Jeff Pulver, one of the biggest name investors in Israeli startups and a well-known figure amongst Israeli entrepreneurs, announced at the end of the week in his blog that he’s resigning.

It looks like the rumors of hard financial times at Pulver’s media company were correct. Pulver declined to explain his decision. Pulver most recently visited Israel when he participated in The Marker’s The Marker COM.VENTION. When asked, on that occasion, of the financial state of PulverMedia he also declined to comment.

The blogger Om Malik said at the end of March that TICC Capital Corporation, the investor in PulverMedia, closed the company and its bank accounts. As a result various checks the company had issued bounced. Malik points out that in a TICC statement to the SEC last March it stated that “PulverMedia forecasts a sharp decrease in revenues in the coming year.”

PulverMedia is responsible for the convention organization VON which deals with VoIP technology. A source familiar with Pulver told The Marker that in their estimation Pulver’s financial position has little to do with his investments in Israeli startups. Pulver has, to date, invested in Jerusalem Capital Ventures and in Israeli startups Kayote, Corbomite Games, Semantinet, Innovid, Urbanseeder and ZShow.

Generally, Pulver tends to invest sums ranging from $15,000 to $50,000 in seed-stage companies.


One Response

  1. It is sad to know that Pulver Media is pulling out of start ups.
    Start up generate the next generation technology and I am afraid that such moves may put the technology back in the box.
    I am a founder of a novel medical device technology to treat obesity. I am looking for upto 15 angel investors to put in a min of $100,000 as seed money. This will be utilized to build the prototype, secure the IP, conduct animal studies and do first in man clinical studies. I have lined up a great consultant team.
    This is a great opportunity to get a return on investment of upto 10 times.
    By the time companies like Boston Sci are ready to invest again, we will be looking at our exit strategy.
    If any angel investors are interested in investing in this venture should contact me at 001-714-658-3039
    or email me at : accessclinicaltrials@yahoo.com
    Thank you.

    Raj NIhalani, MD, RAC(US)
    Irvine, Ca
    Cell: 001-714-658-3039

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