Former Employee Refuses Half-Million Shekel Offer, Builds Transparent AI Tech Firm

Eddie Katz, now CEO of Group 107, recalls a pivotal moment in 2013 when he asked for a modest 2,500 shekel raise at his telecommunications job, earning about 10,000 shekels monthly. His boss agreed but later revealed he would have granted a much higher raise had Katz asked. This experience left Katz feeling undervalued and exploited, highlighting how salary negotiations often depend on an employee's willingness to ask for more.

Katz’s career path shifted from managing a family coffee chain in Jerusalem to the tech sector, eventually becoming CEO of ATM Israel. The intense workload led to a breaking point during a family vacation when he refused to work, deciding to quit despite the company’s offer of a month-long family trip to Thailand and a half-million shekel check to stay. Katz declined, emphasizing his principles and refusal to feel indebted to an employer.

After leaving, Katz invested in learning about the stock market and founded Levant, a home-based trading platform. Despite regulatory setbacks forcing its temporary closure, he revived the project years later. In 2015, Katz partnered with Guy Amar to launch Geekapps, a startup creating affordable mobile apps for small businesses. They grew the company, declined a 20 million shekel buyout, and later faced a failed acquisition due to changing terms.

The duo then founded Israel IT, focusing on remote tech staffing, which expanded during the COVID-19 pandemic. Combining this with Levant’s technology, they established Group 107, a publicly traded company on the Tel Aviv Stock Exchange specializing in AI-driven solutions and tech team management.

Katz’s personal experience with opaque salary practices inspired Group 107’s transparent wage policy. New employees receive clear criteria for raises and career progression from day one, with regular evaluations and predefined salary scales. This approach aims to prevent employee turnover by addressing compensation proactively rather than reactively. Katz also highlighted the company’s AI innovations, including "Keveret," a knowledge retention system for organizations.

Katz’s journey from undervalued employee to tech entrepreneur underscores his commitment to fairness and transparency in workplace compensation and innovation.