CHINA - Alibaba Invests in Israeli Travel Tech

Arno Froese

In a positive post-corona sign of life, Israeli travel tech startup Hotelmize announced that it has completed a Series B investment round co-led by Alibaba Hong Kong Entrepreneurs Fund, associated with e-commerce giant Alibaba Group.

Hotelmize’s AI-based technology automatically buys and sells hotel rooms to generate additional profits for travel or hotel companies. To date, it has handled over $2 billion of reservations and has created over $100 million worth of transactions.

CindyChow, executive director of the Alibaba Hong Kong Entrepreneurs Fund, said: “As we come out from the current difficult situation under the effect of COVID-19, we believe that Hotelmize can contribute to the recovery of the hotel industry with its unique value proposition.”, 6 April 2020

Arno's commentary

Needless to say, Israel’s tourist industry is suffering greatly to the point of collapse, but apparently that’s not what Chinese-headquartered Alibaba Entrepreneurs Fund thinks.

At the time of writing, Israel has the coronavirus somewhat under control. One article in the Jerusalem Post was titled, “Israeli COVID-19 Treatment Shows 100% Survival Rate”: 

Six critically ill coronavirus patients in Israel who are considered high-risk for mortality have been treated with Pluristem’s placenta-based cell-therapy product and survived, according to preliminary data provided by the Haifa-based company., 12 April 2020

It will not be surprising when Israel emerges as one of the first nations to have conquered the novel coronavirus.

Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.

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