AppReal VR to Shake Up a Billion Dollar Industry

Mr. Yariv Levski has been Appointed as The Company’s New CEO.

Tel-Aviv, Kiev, June 23, 2016 -- Software development company AppReal VR have announced that Mr. Yariv Levski has been named as its new CEO. The company, which has offices in Israel and Ukraine, specializes in Virtual Reality (VR), Augmented Reality (AR), Mobile App Development, and Games Development.

Mr. Levski has a strong C-Level background, having recently worked as the CEO of Second Opinion Group. He previously held senior-level positions with TVTak (acquired), Appforma, and Tekoia, and he was also the Deputy CEO at Dori Media Spike.

Mr. Levski said "Virtual Reality is probably the biggest technological revolution for consumers since the smartphone. I am therefore delighted to join AppReal VR with a view to continuing the fine work in verticals such as Finance, Education, eHealth, Gaming, Urban and more.”

“Together with my partner, Aviram Eisenberg, we plan to continue the growth of the company. With a combination of Israeli management and Ukraine development power, we aim to become the industry leader for Virtual and Augmented Reality application development.”

Meanwhile, AppReal shareholders have stated that “Yariv brings industry knowledge, a world-wide network, and operational experience in four major industries. We strong believe that his experience, as well as the huge opportunity in VR that exists right now, will help take AppReal VR to the next level.”

The Virtual Reality industry is projected to hit 150 Billion USD in turnover by 2020, while this year has been described as “the year of VR.” This follows the commercial release of devices such as the HTC Vive, Samsung Gear-VR, Oculus Rift (Facebook), and PlayStation VR.

This VR hardware presents an outstanding opportunity for both developers and content creators such as AppReal VR, and it has also piqued the interest of investors. According to TechCrunch, over 1.1 Billion USD has been invested in Virtual Reality and Augmented Reality in 2016 alone.