Why is that every time an Israeli tech firm so much as takes a leak, JTA is there to tell all about it?
JERUSALEM (JTA) — AOL has purchased an Israeli web video start-up firm.
The deal to acquire 5min Media is reported to be at about $65 million, according to the Israeli business daily Globes. It is AOL’s fifth acquisition in Israel.
The firm, which was founded about three years ago, produces short how-to videos. It also allows the uploading of instructional videos shorter than five minutes, which are popular on search engines.
“AOL is building a video ecosystem for the next decade,” AOL’s chairman and chief executive, Tim Armstrong, said in a statement. “With 5min Media we’ll be able to add more video inventory to our pages.”
5min Media is headquartered in New York and has offices in Tel Aviv. The company has a library of more than 200,000 videos.
That’s the entire article. So what’s the story? Why should we care? Is the assumption of JTA that every deal an Israeli tech company is involved in is news? In fact, it’s a well-established fact that Israelis have a big high tech industry.
Yes, we know they invented cell phones. Yes, we know they invented instant messaging. Beyond that, do we need to know about every little thing? If this is a revolutionary new thing, then it’s worth a big story. But I gather that this isn’t going to change our lives. Not to mention the fact this article is like 23 words long.
So what is this story doing?
