Explorium, Startup Co-Founded by Maor Shlomo, Ceases Operations
Translated & summarized from Globes by baba
Explorium, a startup founded nine years ago by Maor Shlomo, Omer Har, and Or Tamir, has ceased operations, impacting over 70 employees. The company, once valued at $513 million, raised more than $120 million from venture capital firms. Co-founders Har and Tamir announced the closure on LinkedIn, citing a belief in AI's potential. Maor Shlomo previously led the company as CEO until 2023.
The story in 5 lines · by baba
- Explorium, a startup founded nine years ago, has ceased operations, impacting over 70 employees.
- The company was once valued at $513 million during the COVID-19 pandemic bubble.
- Explorium raised over $120 million from venture capital firms like Insight Partners and ZVC.
- Co-founders Omer Har and Or Tamir announced the closure on LinkedIn.
- Maor Shlomo, a founder and former CEO, has since launched another company, Base44.
Explorium, a startup founded nine years ago by Maor Shlomo, Omer Har, and Or Tamir, has announced it is shutting down. The company's co-founders, Har and Tamir, shared the news on LinkedIn, stating that after nearly nine years, Explorium is no longer operational. The decision will reportedly lead to the dismissal of over 70 employees, according to LinkedIn data.
Explorium, which was once valued at $513 million at the peak of the COVID-19 pandemic bubble, raised over $120 million from prominent venture capital firms like Insight Partners and ZVC (formerly Giza Venture Capital, also known as Zeev Ventures). In 2020, Explorium was ranked fifth on Globes' list of the ten most promising startups, alongside companies that have since been acquired for billions or achieved significant growth.
Maor Shlomo served as CEO until 2023. In July 2023, Omer Har took over as CEO, attempting to stabilize the company. Shlomo has since moved on to found Base44, a wave coding company acquired by Wix and now its fastest-growing operation.
Har and Tamir expressed their regret in their LinkedIn post, stating, "Today we share difficult news. After almost nine years, Explorium is ceasing operations. We founded Explorium out of a belief in the power of AI for business, and that AI is only as good as the data behind it."
