In 1998, Derry and Ofer founded KRFTech – a software development tools company. With the profits from the company, they started up Jungo
in 2000, and set out to develop the OS for home gateways (like an Android for home devices).
In 2006 Jungo was acquired by NDS (Cisco) for $107M. It employed 170 people and was profitable. They then had a thesis that HTTP could be re-invented, thus making the Internet much much faster.
They started up Hola
with $18m from world class investors such as DFJ (Skype, Hotmail), Horizons (Mr. Li Ka-Shing's fund), Israel's Chief Scientist Fund, and others.