THE BUSINESS OF TECHNOLOGY
Amid reports of 10 percent employee layoffs and financial losses, Australian online retailer THE ICONIC has received $26 million in funding. The fashion site, a venture by German-born incubator Rocket Internet, lined its pockets with capital from Verlinvest and previous-round investors Summit Partners and Kinnevik earlier this week. With $46 … [Read more...]
Despite reports that between 1 in 4 and 1 in 5 Americans (depending on who you ask and when) suffers from mental illness, barriers to care keep many from receiving it. With 2009 startup Breakthrough, CEO Mark Goldenson looks to tear down walls keeping those from the treatment they need––and he’s just received a substantial leg up. Series A … [Read more...]
Yesterday, Chicago Public Library opened the doors to its maker lab for the masses, a place where the public can play with 3D printers, milling machines and more. Those previously barred from meeting with machinery, by cost or lack of know-how, will now get their chance––with CPL eager to make introductions. “This is the most democratic change in … [Read more...]
From September 3-5, 2013, venture capitals and CEOs from cutting-edge private technology companies will gather in Hong Kong to discover an exceptional array of entrepreneurs and executive leaders from innovative technology firms in the Asian marketplace. In addition, Red Herring Asia will present the winners of the Red Herring 100 Asia award, … [Read more...]
The Red Herring team selected the 2013 Top 100 North America. Selected from a pool of hundreds of submissions from across the region, this exceptional group is highlights the most innovative, disruptive and fastes growing companies. The Top 100 were selected on both quantitative and qualitative criteria, such as financial performance, innovation, … [Read more...]
Google keeps pretty mum on the subject of YouTube revenue, leaving it to analysts to guess what kind of take the service racks in. Analysts from Morgan Stanley recently took a crack at it. They predict the company will reach $20 billion in gross revenue by 2020 to generate $5 billion in operating income, CNBC reported. The research analysts based … [Read more...]
Namshi, a product of Rocket Internet’s incubator program, recently raised a $13 million round to harness recent growth in its fashion ecommerce channels in the Middle East. Summit Partners led the investment. Namshi provides ecommerce fashion retail to Middle Eastern markets, featuring clothing, accessories, and footwear for women, men, and kids … [Read more...]
Matrix Partners recently announced the closing of its 10th fund, a $450 million package focused on early stage technology investments. The fund was first leaked to Fortune’s Dan Primack last month, but now the paperwork makes it official. The fund will focus on consumer investments in early stage consumer Internet, mobile, enterprise software and … [Read more...]
Baidu, the largest search engine in China, has acquired PPStream, the Shanghai-based online video platform, for $370 million, the company confirmed this week following weeks of rumors on the deal. PPS will be merged into iQiyi, Baidu’s video platform, to become China’s largest video platform according to viewing time and number of mobile users. … [Read more...]
BMC Software agreed to privatize itself in $6.9 billion sale to a group of investors led by Bain Capital and Golden Gate Capital. The deal pays $46.25 per share to the buyer’s group which includes the Government of Singapore Investment Corporation and Insight Venture Partners. That’s a 14 percent premium on BMC’s share price on May 11, 2012, the … [Read more...]