Photo Credit:
Blindspot app / Screenshot

The Shellanoo Group, a technology company focusing on value-based products and services whose executive board includes Oded Kobo, Roman Abramovich and Gee Roberson, said on Sunday that it plans to raise around $27 million in an initial public offering (IPO) on the Tel Aviv Stock Exchange in September or October.

Oded Kobo, son of businessman Bebo Kobo, founded Shellanoo in 2014. The company website says that its board of directors consists of Kobo, Abramovich, and former chairman of Geffen Records super-agent Gee Roberson. The website describes Shellanoo Group as a “technology company specializing in mobile applications, artificial intelligence and online services.”

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Kobo has been described by his own website as “an acclaimed Internet entrepreneur and businessman with over 20 years of experience and success in the sector,” with a note that “over the last two decades, his business interests have ranged from telecom to Internet to private equity to property, with over $1 billion in exits.”

The Shellanoo Group is home to several dozen employees in its Herzliya offices.

According to Globes, Shellanoo has so far raised $35 million. Its biggest financing round was $30 million in April 2015, led by Abramov with $15 million, for the “Music Messenger” app, which facilitates trading songs among friends. Other investors in that round included, according to Globes, music industry leaders including them Will.i.am, David Guetta, Tiesto, Nicki Minaj, Avicii, Benny Andersson (of ABBA fame).

The company home page also claims “the Company is currently valued at approximately $200 million by BDO” and announces it is “scheduled to go public on the Tel Aviv Stock Exchange in October 2016.”

One of Shellanoo’s apps is anonymous messaging app Blindspot, which is under fire for being used as a weapon for cyber-bullying.

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