McCann Erikson has invested $4 million in Israeli incubator TheTime – a new media investments firm. It was founded by Nir Tarlovski and Ilan Shiloach, who is also the chairman of McCann Erikson Israel. The investment was made at a company value of $30 million, which will use the money for investments in its portfolio companies, following joint seed funding with the Office of the Chief Scientist.
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