Chinese microblogging site Weibo has cut its offered IPO size after a shaky start taking in only USD286 million from 16.8 million depository shares sold which was far from the expectations on Wall Street.
Consumer Web/Social Media
Pre-IPO fraud lawsuit dismissed, Twitter gets final laugh
A lawsuit was filed against Twitter by two firms claiming that the microblogging platform has committed a pre-IPO fraud to justify the company's $10 billion valuation was dismissed by a US District Judge in New York.
Blucora acquires US-based explainer site HowStuffWorks for $45M
Bellevue, US-based Internet business operator Blucora acquired Atlanta, Georgia-based explainer site HowStuffWorks in a deal valued at $45 million in cash from Discovery Communications, which had bought the site in 2007 for $250 million.
Weibo celebrates public debut, venture capitalist Charles Xue release from prison
Two coincidental events took place as Weibo executives rejoiced the warm welcome it received from the international financial markets after its IPO on the NASDAQ and the release of venture capitalist and Weibo user Charles Xue.
LinkedIn reaches 300-million mark in registered users
Mountain View, US-based business-oriented social networking service LinkedIn already reached the 300-million mark in registered users worldwide, with half of that number coming from countries outside of its home country.
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Citymapper has raised USD10 million Series A funding round led by Balderton Capital and other investors including Index Ventures, Greylock Partners and Connect Ventures.
Durham, US-based social media marketing startup Argyle announced through an email to its customers that it will shut down its operations on May 31 because it couldn't compete anymore with its rivals in the industry.
Richardson, US-based secure cloud hosting firm FireHost received $25 million in its latest funding round led by Little Rock, Arkansas-based investment firm Stephens Group to fuel its growth and marketing campaigns.
The initial public offering of microblogging platform Weibo has only sold 16.8 million shares instead of its expected 20 million share sale, reported TechCrunch.
San Francisco, US-based social media conversation startup Talkwheel raised $1.2 million in funding from several angel investors to aggregate the conversations on the web in a visual map so businesses can monitor trending topics.
Comcast Corp and Time Warner Cable's merger was backed by Washington Post in an editorial posted Tuesday, reported Reuters.
Beaverton, US-based marketing automation software vendor Act-On landed $42 million in its fifth funding round led by Technology Crossover Ventures (TCV) to fuel its growth.
In a bid to expand its user base and retain loyalty, London, UK-based social TV app Zeebox rebranded itself as a new app called Beamly which now has enhanced social functionality and content discovery range.
US-based search giant Google agreed to acquire Moriarty, New Mexico-based solar-powered drone maker Titan Aerospace for an undisclosed amount for Project Loon, an initiative that aims to bring the Internet to currently offline places of the world.
