Over the last 10 years AOL has invested well over half a billion dollars in Israel. In recognition, it was awarded the Jubilee Award in 1998 by the Israeli Prime Minister.
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PRODUCTS & AFFILIATED COMPANIES TO AVOID
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Research Findings:
AOL allocates 30% of its investment portfolio in Israel. [1][4]Over the last 10 years AOL has invested well over half a billion dollars in Israel.[6][7]
The buy up of Israeli company Mirabilis, creators of ICQ (internet chat program), for $287m in 1998, and further payments totaling $120 million over a three-year period, forms part of AOLs investment in Israel.[5][6]
In 1998, Mr. Ted Leonsis, CEO of AOL studios (a business unit of AOL) received the Jubilee Award by the Israeli Prime Minister Netanyahu. This is the highest tribute ever awarded by the "State of Israel" in recognition of those individuals and organizations, that through their investments and trade relationships, have done the most to strengthen the Israeli economy. [3]
In the same year, 1998, AOL invested $40m for a 20% share in Israeli company Picture Vision.[8]
Israeli Wireless software company Niragongo Inc. received an investment from AOL in February 2001.[9]
In June 2001, AOL was one of three US companies that was singled out and given an award by the America-Israel Friendship League.[2]
In November 2006, AOL increased its investment in Israel by aquiring Israeli startup company Relegence for between $50-100 million.[7]
Action Resources:
For a boycott to be effective, it must be followed up with a letter writing campaign to inform the companies that we are boycotting their products until they stop collaborating with Israel.
Sample Letter
Randy Falco
Chairman & Chief Executive Officer,
AOL LLC,
22000 AOL Way,
Dulles, VA 20166
The Date
Dear Mr. Falco,
I write with reference to your company's continued support for Israeli apartheid.
Over the last 10 years AOL has invested well over half a billion dollars in Israel. Only last November AOL invested another $100 million by aquiring the Israeli company Relegence. These investments help prolong an unjust and immoral apartheid system which is illegally occupying Palestinian land.
I urgently request you to reconsider your support for this racist state by henceforth divesting from Israel.
In the meantime I will have no alternative but to boycott your company, and encourage others to do so. I look forward to receiving your assurances that you will no longer be supporting Israeli apartheid.
Yours faithfully,
Your Sign
Your Name & Address
Additional Information & References:
| [1] |
From Nile Media, Nov 23, 2003:
"... We would also challenge them to consider that AOL allocates 30% of its investment portfolio in Israel. Does that effect how CNN reports on the Israeli/Palestinian conflict? At NileMedia, we think it does. The "spin" wizards at CNN, TIME and AOL are not in the journalism business. ..."
Source: http://www.nilemedia.com/Home/agenda.html
|
| [2] |
Jerusalem Post, June 27, 2001:
"...Three US companies that invest in Israel - AOL Time Warner, IBM, and Rupert Murdoch's News Corporation - were lauded at the America-Israel Friendship League's Partners for Democracy Awards dinner."
Source: http://www.jpost.com/Editions/2001/06/27/News/News.29183.html
|
| [3] |
"On October 14, 1998, Israeli Prime Minister Netanyahu presented a select group of international business people with the highest tribute ever awarded by the "State of Israel". The Jubilee Award, marking Israel’s fiftieth year of independence, recognizes those individuals and organizations, that through their investments and trade relationships, have done the most to strengthen the Israeli economy."
Source: http://www.inminds.co.uk/boycott-jubilee-awards.html
|
| [4] |
Embassy of Israel website:
America On Line (AOL) in Israel:
Purchased 100% of Ubique Ltd. in Rehovot in 1993 for $14.5m. Purchased Mirabilis for $287m (5/98)
Source: http://www.israelemb.org/economic/uscompanies.htm
|
| [5] |
From ICQ website:
"A tiny Israeli company has taken the Internet by storm...ICQ is the hottest thing on the web"
(David Einstein, San-Francisco Chronicle,Feb 1998)
ICQ Inc., the successor of Mirabilis Ltd. was created when America Online acquired all Mirabilis' assets on June 1998. Mirabilis was founded in July 1996 when four young Israeli avid-computer users established a new Internet company. Yair Goldfinger (26,Chief Technology Officer), Arik Vardi (27,Chief Executive Officer), Sefi Vigiser (25,President), and Amnon Amir (24, currently studying), created the company in order to introduce a new way of communication over the Internet...
Source: http://www.icq.com/company/about.html
|
| [6] |
AOL Buys Israel's Mirabilis [internetnews.com 8 June, 1998]
America Online, Inc. said today it acquired Israeli messaging solutions provider Mirabilis Ltd. for $287 million.
The purchase, expected to be completed on June 5, 1998, calls for AOL to pay the $287 million price tag in cash in exchange for 100% of Mirabilis's assets.
In addition, beginning in fiscal year 2001, AOL said it will make contingent payments totaling $120 million over a three-year period based on growth performance levels.
Source: http://www.internetnews.com/bus-news/article.php/21011
|
| [7] |
AOL acquires Israeli startup Relegence [Haaretz 27 March, 2007]
AOL, the Internet dinosaur from the 1990s, acquired Israeli startup Relegence in November 2006 for between $50-100 million. The company's headquarters and its 60 workers remained in Israel. This was only AOL's second acquisition in Israel. The first was the giant deal involving Mirabilis, the developer of the ICQ instant-messaging software, for $407 million in 1998. ICQ's development center is also in Israel.
Source: http://www.haaretz.com/hasen/spages/841843.html
|
| [8] |
Americal Online Inc has invested $40m for a 20% share in Israeli company Picture Vision. [June 15, 1998]
Source: http://findarticles.com/p/articles/mi_m0CGN/is_n118/ai_20800645
|
| [9] |
AOL investment in Niragongo began in 2001:
Niragongo Inc. receives investment from AOL Time Warner Ventures
Source: http://www.carmelventures.com/newsitem_arc.asp?id=40
In October 2004, AOL appears to have sold its share in Niragongo:
Cash-U Mobile Technologies Completes $15 Million Financing Round Led by Carmel Ventures and Acquires Niragongo
Source: http://www.carmelventures.com/c_newsitem.asp?id=219 |
| [10] |
AOL scraps outsourced Jerusalem call centre [14 Dec 2006]:
US telecommunications company IDT Global may have to cut as many as 200 jobs in Israel after losing its largest outsourcing client AOL, due to a restructuring at the Internet service provider..
Interestingly IDT Global also has zionist leanings:
..The loss may be a blow to the company's [IDT Global] ideals, however, as it has been a major employer for the English speaking community in Jerusalem since setting up its call center in 2002, driven largely by CEO Howard Jonas's pro-Israel beliefs.
Source: http://www.jpost.com/servlet |
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