January 28, 2008
Today Israeli news provider Globes online reported that PayPal has acquired an Israeli startup called FraudSciences for $169 million. Fraud Sciences has the emerging technologies that help users in detecting online frauds. In a press release to the public, they also announced that key personnel from FraudSciences, including Yossi Barak, Chief Operating Officer and founders Shvat Shaked and Saar Wilf, will join PayPal’s technology and fraud management teams. In the meantime, Gadi Maier, FraudSciences’ President and CEO, will provide strategic and operational support to PayPal during the integration period.
FraudSciences was founded in 2001 but in fact was officially launched to the market in 2006, previously raised $7 million in Series A and $11 million in round B financing from BRM Capital, Redpoint Ventures and other US and Israeli investors.
