Facebook acquires Israeli startup Redkix
Redkix will join Workplace, Facebook’s subscription-based social network for businesses, say founders Oudi and Roy Antebi
Shoshanna Solomon was The Times of Israel's Startups and Business reporter
Facebook has acquired Israel’s Redkix in a deal that will add the startup’s email and team messaging software to the social media giant’s business offering, the Yehud-Israel based firm said.
“Redkix is joining Workplace by Facebook,” the startup’s founders, brothers Oudi and Roy Antebi announced on the website on Thursday. “We have agreed to be acquired by Facebook, where we’ll join the Workplace team to help connect people and give the world a place to work together. Our current application will wind down.”
RedKix software works on top of users’ existing work email accounts, so all they need to do is sign in. When users email other RedKix users, they will be able to see when they’re online and if they are replying to their message. If they are not logged on to Redkix, messages go through like a standard email.
RedKix users can also organize their team conversations into group channels by using their existing email lists or creating new groups around specific projects or subjects. Anyone with an email address can participate in these groups.
Facebook set up Workplace, its subscription-based social network for businesses, in October 2016.
Redkix and Facebook did not disclose financial details, but a source close to the deal told Reuters the value of the acquisition was less than $100 million.
More than 30,000 companies use Workplace by Facebook to collaborate with their colleagues, a Facebook spokesperson told Reuters.
Redix founders said their company is “aligned” with Facebook’s vision of “bringing people closer together,” and Workplace “brings this mission to enterprises to make them more connected and productive.”
RedKix has raised $17 million to date from investors including Wicklow Capital and Salesforce Ventures, according to Start-Up Nation Central, a non-profit that tracks the Israeli tech industry.
Facebook has already acquired a number of startups in Israel. The social network bought mobile application platform Snaptu in 2011 for $70 million and face recognition firm Face.com in 2012 for $60 million. It also acquired Israeli app maker Onavo in 2013 and Pebbles, an Israel-based startup specializing in technology that can track hand movements, via Facebook’s subsidiary Oculus in 2015.
