San Francisco, US-based startup Spellgun launched today to bring Western mobile games to China's mobile market under a partnership with video game art outsourcing firm Concept Art House and Chinese firm Talkweb.
Corporations
LA Fitness Group looks to divest 33 of 80 gyms to reduce debt
LA Fitness Group will be selling 33 of its 80 gyms in the UK and Ireland as part of debt-reduction strategy. It had also signed company voluntary arrangements to help reduce its rent, Bloomberg reported.
Singapore-based Drive.SG secures $790K in Series A round
Singapore-based online car rental website received $790,000 in its Series A funding round from Insas Berhad, an investment holding firm based in Malaysia, TechCrunch reported.
Classified Ventures said to work with Moelis & Co for Cars.com website sale
Classified Ventures is now exploring a potential sale of Cars.com and is already working with Moelis & Co on the matter, a source interviewed by Bloomberg said.
Tencent Holdings Ltd agrees to acquire 15pct stake in retailer JD.com for $214.7M
Tencent Holdings will be acquiring a 15% stake in JD.com in a $214.7 million deal to provide a stronger platform that will rival Alibaba Group Holdings in the space, Bloomberg reported.
Latest News
Activist investor Casablanca Capital has rejected an offer made by Cliffs Natural Resources to end the proxy battle to gain control of the miner's board, Reuters reported.
Tencent Holdings, the biggest Internet company in China, could get a 16% stake in online retailer JD.com, according to a Chinese business newspaper, Reuters reported.
Virginia, US-based furniture rental firm CORT Business Services bought Mountlake Terrace, Washington-based events planning firm AA Party Rentals for an undisclosed amount to expand its product offering.
Englewood, New Jersey-based paint retailer Eagle Paint and Wallpaper Inc bought troubled Paramus-based rival Norton Paint for an undisclosed sum to gain traction over rivals in the paint industry.
Alabama, US-based banking firm Bay Bank has been bought by Hattiesburg-based firm The First Bancshares Inc in a merger deal worth $6.6 million in combined cash and stock.
New York, US-based scrap metal processor and recycler Upstate Shredding snapped up Irving-based rival Brant Auto Parts for an undisclosed amount in an all-cash deal.
Optio Labs secured $10 million from parent company Allied Minds and other private investors for its Series A funding round. The company provides software solutions for mobile security, a statement about the funding said.
New York, US-based startup school General Assembly scored $25 million in a recent funding round to expand its tech and entrepreneurship course offering and to build new campuses.
Women-led angel investment network Angel Academe has invested in UK-based Buddybounce, a startup that seeks to help artists determine and reward their "super fans," TechCrunch reported.
