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Michael Jackson Plans to Invest $1-5 Mln in Oraios By Hadas Geyfman Published by Israel's Business Arena on 5 September 2000
Pop star Michael Jackson is negotiating to invest in Israeli company Oraios. Oraios was founded by three entrepreneurs: company president and CEO Idan Miller; product manager Ido Miller, his cousin; and development manager Yoram Goren. Sources close to the deal say that the negotiations are at the examination stage, but Jackson has already given a positive answer in principle. The investment will be up to $5 million, at an estimated company value of $30 million, before money. The investment will be carried out through the Rundell Carsey investment company, owned by Derek Rundell (29) and Court Carsey (28), owners of HollywoodTicket.com, which Jackson has invested in. The Rundell Carsey investment company manages some of Michael Jackson's technology investments. Jackson has a second investment fund of over $100 million. If the investment goes through, it will be carried out by one or both of the funds. Idan Miller confirmed the existence of the negotiations, but refused to comment on the report itself. Oraios is a start-up founded in January. It is developing a 3-D search engine, designed to present complex 3-D environments. |
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