Backplane, a US-based platform for web-based social communities, completed its series A round on Thursday, garnering $4.5m. New investors include Advance/Newhouse Investment Partnership, an affiliate of publishing company Conde Nast, which are both owned by Advance Publications. New investors also included Sequoia Capital, Greylock Discovery Fund, Battery Ventures and Formation 8, while returning investors from… Continue reading Advance Publications drives Backplane forward
Author: Robert Lavine
UPS delivers for Kabbage
The two firms are embarking on a joint venture with UPS extending a debt facility to online merchant lender Kabbage as part of the deal.
Ipsen’s share in Radius based on tech, not cash
Pharmaceutical conglomerate Ipsen is set to be a beneficiary of Radius Health’s flotation, despite never investing money in the company, it has emerged. According to a source within Ipsen, Ipsen did not invest any cash in Radius directly, but took an equity share worth about 1% in Radius in lieu of a milestone payment worth… Continue reading Ipsen’s share in Radius based on tech, not cash
L Capital to raise second Asian fund
The LVMH-owned corporate venturing fund is set to push its Asian spending to $1bn when it raises its second fund this year, with much of the investment going towards China.
Vserv seeks Ramakrishnan for tech advice
The Silicon Valley veteran will act as technology advisor for the mobile advertising startup, having held roles at Facebook, Yahoo!, Oracle and Skype among others.
Cheribundi drinks in $4.5m
The tart cherry juice producer has added investment firm Emil Capital to its investors as it aims to grow its business in 2012.
London calling for enterprise startups
The Digital London summit will be holding a competition for startups, to be held when the showcase takes place next month.
Manthan Systems analyses $15m in funding
Retail analytics company Manthan, backed by Fidelity and IDG, has raised $15m in its series C round and is now looking towards making acquisitions of its own.
Game over for selected Vostu staff
Brazil-based social game developer Vostu is making an undisclosed amount of employees redundant, the company confirmed on Wednesday. Vostu declined to state the number of workers it was laying off, or the reasoning behind the move. However the announcement comes just over six months after the company settled a lawsuit brought by rival Zynga over… Continue reading Game over for selected Vostu staff
Aereo watches investors join its series A
The internet TV streaming service is set to launch next month as it bumps its funding up to $25m thanks to a contribution from the Barry Diller-led internet firm IAC.
Ozon books Sapato as its latest buy
Russia-based ecommerce company Ozon expanded its range of online products on Wednesday by acquiring online shoe retailer Sapato for an undisclosed amount. Exiting investors include Intel’s corporate venturing unit, Intel Capital. Intel Capital led Sapato’s $12m series C round in June last year, which also saw participation from Russia-based market expansion services business the Direct… Continue reading Ozon books Sapato as its latest buy
CyberAgent gets into the Grooves
Japan-based social recruitment startup Grooves received ¥40m ($500,000) in seed funding from internet company CyberAgent’s corporate venturing fund, CyberAgent Ventures Japan, on 30th November. Grooves is best known for its social job posting initiative, instituted through its Garbs subsidiary. Grooves is also currently preparing a series A round, according to Asian tech website e27. The… Continue reading CyberAgent gets into the Grooves
Mahindra Satyam takes 16% of Dion
Financial markets software developer Dion Global has issued stock worth about 16% of the company to IT servies firm Mahindra Satyam for about $7m.
Arcos transmits itself to ATX
The multimedia transmission services company will become the Israeli division of Canada-based ATX Networks after it was acquired for $26m, granting an exit to the Mer Group.