Not-for-profit Tmura asks start-ups to part with a small stake in their firm; if there is a successful exit, Israeli youth benefits; genealogy giant MyHeritage is one of them
INVESTORS, FOUNDERS AND EMPLOYEES of MyHeritage, a genealogy company that was sold to US private equity firm Francisco Partners last week, won’t be the only ones clinking glasses in celebration of the exit deal reportedly valued at over $US600 million.
Israeli youth will also benefit from the acquisition, through the sale of options the startup donated in 2013 to the nonprofit organization Tmura.
Founded in 2002 by New York-born Yadin Kaufmann, who immigrated to Israel in 1985, Tmura aims to get tech entrepreneurs to hold out a hand to those less fortunate by supporting not-for-profit organisations involved in education and youth.
FULL STORY How Israeli tech shares some of its wealth by donating options(Times of Israel)
Photo: Photo: MyHeritage headquarters in Or Yehuda. (MyHeritage/Wikipedia)
