iAngels Announces First Exit as Big Blue Parrot Acquired by Playtika

iAngels has announced the first exit of a portfolio company as Playtika acquired Big Blue Parrot earlier this month.

Nearing its second anniversary of operating their equity crowdfunding platform for accredited investors, iAngels has announced the first exit of a portfolio company. In a deal believed to be valued around $10 million, Playtika acquired Big Blue Parrot earlier this month. A social mobile game provider, Big Blue Parrot included participation from iAngels investors when it raised $2.5 million last year. The round also included investments from Israeli angel investors Gigi Levy, Rami Lipman and Haim Blecher.

Investing in Israeli startups, iAngels uses a similar approach to that of UK based Syndicate Room, in which investors on the platform join funding rounds with experienced angel investors. With regard to Big Blue Parrot, iAngels joined up with Gigi Levy, former CEO of gaming firm 888, whose notable angel investments include Meerkat, Kenshoo and MyHeritage. Currently, iAngels has grown its portfolio to 27 firms. At a $10 million acquisition price, the current Big Blue Parrot deal is believed to have provided a “good return” according to Globes.

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Commenting on the sale, Mor Assia, Founding Partner at iAngels, said: “We knew from our first conversations with Big Blue Parrot that the team and platform would make for an attractive acquisition target.”

Gilad Almog, CEO of Big Blue Parrot described working with iAngels, stating: “iAngels provided us with counsel and content regarding messaging, positioning, and deal structure. It was a pleasure working with the iAngels team and I tell any startup who comes to me for fundraising advice to approach iAngels”.

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