After Twitter's IPO and the expansion of Facebook, other social media services such as SnapChat, WhatsApp and other social networking sites compete against one another.
Consumer Web/Social Media
Top deals of the day - M&As
The following bids, mergers, acquisitions and disposals were reported on Tuesday. Top Russian oil firm Rosneft said it would sell about $6 billion worth of refined products to BP, establishing the British major among its biggest buyers after years without any such deal.
Yododo secures USD4 million in Series A funding from Gobi Partners
Yododo, the largest online travel community in China, raised USD4 million in Series A funding for the expansion and improvement of its products and services.
Shuttersong raises seed funding for app that embeds music into photos
Boston-based tech startup Shuttersong raised USD1.675 in seed funding for the development of a unique app that lets users embed sound clips into JPEG images.
Arrayent raises USD11.9 million for cloud connect platform
California-based cloud connect platform Arrayent recently raised USD11.9 million from Doll Capital Management, Intel Capital, and Opus Capital, to be used for its planned expansion and growth.
Latest News
With the IPO of microblogging service Twitter recently concluded, the 3% shareholdings of Kingdom Holding initially worth USD300 million in 2011 is now worth USD900 million.
Sydney, Australia-based DesignCrowd claimed that its crowdsourcing marketplace was more fair and transparent to freeland designers, and intended to expand its business in the US.
Despite continued speculations that it would go public, Japan-based messaging app Line said it did not see the need to hold an initial public offering.
Healthcare company Johnson & Johnson stopped selling some of its products to Amazon.com because of complaints about the site's third party sellers.
Vox Media bought the Curbed network for USD20 million to USD30 million using a combination of stock and cash.
Andreesen Horowitz, the venture-capital firm Marc Andreesen, sold 2.28 million of its Facebook shares.
Consumer web companies had been filling the IPO lull typically experienced during the holiday season, said Reuters.
A Forbes contributing article by an economist said Twitter's massive hype could not save itself from faring better on the stock market in the long-run.
Since the Facebook bungle, Nasdaq had been hard pressed to recover to list more tech IPO stocks in its fold.
