Playbuzz, a media company co-founded by former Israeli Prime Minister Ehud Olmert’s son, Shaul Olmert, has raised $15 million in funding, with most of the funding coming from billionaire Israeli-American mogul Haim Saban and the Walt Disney Co.
Playbuzz, which provides a platform for media companies to create quizzes and other interactive content, said in a news release that the new investment will go towards expanding its sponsored-content business.
The largest percentage of the money raised for Playbuzz comes from Saban Ventures, an affiliate of the Saban Capital Group. Saban, whose corporate website describes him as a “worldwide pioneer and leader in the entertainment industry,” was born in Egypt, immigrated to Israel as a child and has lived in Los Angeles since 1983.
According to Reuters, thousands of publishers use Playbuzz, including Time, HBO, and USA Today. Playbuzz has 100 employees, 60 of whom are in Israel.
“People are becoming impatient and don’t read a lot today,” Shaul Olmert, Playbuzz’s New York-based CEO, told Reuters. “Traditional media is usually long-form articles or video, and they don’t make sense in an era where people discover content on a 4-inch screen.”
Playbuzz, which was cofounded in 2012 by Shaul Olmert and Tom Pachys, describes itself as “the leading global platform for publishers and brands to create content people love.” In addition to its New York offices, Playbuzz also has offices in Tel Aviv, London, Nashville, Tennessee, and Hamburg, Germany.