Congratulations to Zend on completing a $20M raise. Zend is an Israeli company (in which Gemini didn’t invest when the company was very early stage…), that delivers the premier web application platform products and services for PHP applications.
There has been much discussion in the investment community about the ability of Israeli start-ups to be successful Web 2.0 companies. I think that Zend is demonstrating that Web 2.0 is not limited to Silicon Valley start-ups.
There are some other visible start-ups, including Metacafe, Myheritage.com and of course, Gemini’s own eSnips. We continue to see very healty deal flow through the Lightspeed Gemini Internet Lab as well.
Israeli companies have no plans to ignore Web 2.0!
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