Calcalist’s Golan Hazani reports that Dov Moran’s start-up, Modu, is about to embark on a massive wave of downsizing. According to Hazani, Modu plans on firing about 100 employees in the next few days, out of a total of 250 which the company employs in Israel.
So far, Modu has seens investments surpassing $100 million, from investors such as the venture capital funds Genesis, Gemini, Greylock, and communication company Qualcom’s venture capital fund.
Several weeks ago, StartUpMania revealed the start-up Mitango – founded by 3 former Modu executives which left the communication start-up.
Translated by Itai Rosenbaum
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