Sequoia Capital is backing GirnarSoftware with USD 15 million in investment for a 20% stake in the firm. GirnarSoftware owns Internet websites Cardekho, Bikedekho and Pricedekho.
Consumer Web/Social Media
China's Sungy Mobile prices public float on NASDAQ at USD11.22 per ADS
Sungy Mobile, a global provider of mobile internet products and services, has priced its initial public offering on NASDAQ at USD11.22 per American depositary shares (ADS).
Friendshippr closes USD670,000 for crowd-shipping app
US-based crowd-shipping mobile app Friendshippr closed USD670,000 in funding from angel investors in Dubai to connect consumers to Facebook friends who will help transport items for them.
Quarri scores USD2.35 million funding for browser protection
Texas-based browser security company Quarri raised USD2.35 million in its first funding round today to improve its products, expand internationally, and add more people to its workforce.
Sony announces its plans to make fewer films; sets its eyes on television
Sony Pictures Entertainment executives announced that it would cut down the number of films it produces per year and will focus instead on higher-margin television production and operating TV channels.
Latest News
Cloud storage provider Box, a rival of Dropbox, is raising USD100 million in new funding through a share sale that would value the company at around USD2 billion.
China has accounted for as much as 80% of global growth in metal demand in recent years, driven by its extensive investments in infrastructure and real estate projects.
Dianping's co-founder Edward Long recently revealed at the TechCrunch/Technode event in Shanghai that it rejected an acquisition offer of less than USD100 million from Google China.
Deutsche Telekom is nearing an agreement to sell 70% of its stake in German online-classifieds business Scout24 holding. It will be sold to private equity firm Hellman & Friedman in a deal that would value the business at EUR2 billion.
The following bids, mergers, acquisitions and disposals were reported on Tuesday including Nokia, IntercontinentalExchange Group, Goldman Sachs and others.
San Francisco-based Dropbox said that it targets to raise USD250 million in its third funding round. If successful, this would give the web storage company a valuation of more than USD8 billion.
Texas-based marketing startup Hiplogiq raised USD7 million in a Series B funding round from Hadron Global Partners, to be used for the company's growth, expansion, and product promotion.
A report by the coordinated efforts of MoneyTree, PricewaterhouseCoopers and the National Venture Capital Association indicated an increased activity in seed investments in venture capitalists.
Singaporean investment firm Temasek divested its holdings in US-listed companies Facebook, Monsanto and Air Products & Chemicals. The private equity firm, however, remains focused on energy, healthcare and technology stocks in the US.
