The software company announced that it has opened an office in Beijing to boost its business in China. The move comes after Israel and China signed an accord to expand cooperation
Israeli software installation company ironSource on June 3 announced that it has opened its first China office in Beijing in a move to localize its activities in the Chinese market. The announcement comes weeks after Israel and China signed an accord to expand cooperation between the two countries.
“ironSource is recognized as an industry leader across the world, and we are actively looking to expand our footprint in China,” Tomer Bar Zeev, CEO of ironSource, said in a statement. “It’s crucial to make sure that our increased presence in Asia be matched by a focus on localization, and collaborating with visionaries like [Chinese angel investor] Xu Xiaoping helps us to do this, allowing us to foster personal relationships and more effectively address the needs of the Chinese market.”
ironSource focuses on the east
Enabling software developers to connect with users across major platforms, ironSource’s product installCore is a desktop software installation platform that has managed 2.5 billion installs to date for major enterprise clients and independent developers. Its mobile solution, mobileCore, helps developers distribute and monetize their apps in the free-app space.
Founded in 2009 in Tel Aviv, ironSource has grown rapidly to 300 employees through a mixture of organic growth and M&A. The company meanwhile has received investments from Carmel Ventures.
Last summer it opened offices in San Francisco to reach new partners and potential clients. In the last year the company has tried to expand globally and partnered with major Chinese internet companies like Baidu. According to the statement, the company is already helping its Chinese partners distribute 100,000 apps, games and software products daily.
“The last few years have seen an explosion in the Chinese Internet space, along with an increase in the desire of Chinese companies to tap into wider global markets” Yuval Reisman, ironSource general manager of China operations, said in the statement. “In the same way that ironSource helps developers in the rest of the world turn their software into scalable businesses, we will now serve as the channel for Chinese developers to tap into the global market and grow into international businesses.”
A new friendship between Israel and China
The announcement came after 25 Chinese delegates including angel investors, company founders and entrepreneurs came to Israel to meet with ironSource. But ironSource is not the only one in Israel looking to strengthen ties to China. Last month Israeli Prime Minister Benjamin Netanyahu met with Chinese officials and signed an accord to boost ties between the countries.
“China is Israel’s largest trading partner in Asia and fast becoming perhaps Israel’s largest trading partner period as we move into the future,” Netanyahu said in a statement on the accord, when he and Chinese Vice Premier Liu Yandong met in Netanyahu’s Jerusalem office in May. “We see the great success of China. We admire China and we think there are complementary things that Israel brings to this relationship. One of them is innovation.”
Also in May, 400 Chinese business and government officials visited Israel for a week of conferences, summits and business deals, which led to an announcement of a partnership between Tel Aviv University and Beijing’s Tsinghua University to invest $300 million to establish the XIN Research Center to focus on researching early-stage and developed technologies in biotech, solar energy, water and the environment.
Looks like Israel is now looking east instead of west for its biggest ally.