Russian telecoms giant Vimpelcom has agreed to let go of its much disputed holdings in Orascom Telecom Algeria to the Algerian government after buying the telecoms firm from Naguib Sawiris in 2010 for $6 billion.
Firm Management
New York food delivery site Delivery.com launches in Hong Kong
New York City, US-based online food ordering and delivery site Delivery.com launched in Hong Kong to take advantage of the lucrative food market and the busy corporate environment of the Asian country.
US online publisher Glam rebrands as Mode Media after $15M funding round
Brisbane, California-based online publisher and ad firm Glam Media rebranded as Mode Media after raising $15 million in an unannounced funding round from undisclosed investors to launch a new video business in Los Angeles.
Facebook to build second Iowa data center
Menlo Park, US-based social network giant Facebook announced its plans to build a second Iowa data center right next to its first facility in Altoona which is still being constructed and has yet to start its operations.
Alibaba, Yunfeng Capital to acquire stake in Youku Tudou valued $1.22 bln
Alibaba and Jack Ma's co-founded company, Yunfeng Capital, said that they would acquire a stake in China's YouTube equivalent Youku Tuduo in a deal valued $1.22 bln prior its highly anticipated public debut.
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Startup Wish has received $19 million new investment led by GGV Capital and Formation 8 along with Yahoo's co-founder Jerry Yang while managing director for GGV Hans Tung joined the company's board of directors.
Code.org partners with 30 public schools as they run towards making computer science more accessible to high school students nation wide.
CEO and co-founder Pat Kinsel of Spindle has become a partner at venture capital firm Polaris after he successfully sold Spindle to social microblogging site Twitter, gaining him the title of "entrepreneur in residence."
QE2 Acquisition Corp. ("QE2") is pleased to announce the appointment of Doug Bachman to the Board of Directors.
Glow Holdings Inc. (PINKSHEETS: GLOH) announced today that it signed a binding Letter of Intent ("LOI") with Cedar River Foods LLC calling for a newly-formed subsidiary of Glow to merge with Cedar River Foods' operations.
Huawei Technologies Co Ltd, the world's third-biggest smartphone manufacturer, plans to spend $300 million on global marketing in 2014, a senior executive said on Wednesday.
Microsoft said through its newly appointed head Kabelo Makwane that it has reinstated its development commitment in the Africa through a 20-year business plan that would boost economic growth and development in the African region.
Petrobas, the top oil producer of Brazil, has been looking for potential buyers to acquire its assets in Nigeria valued $5 billion as the company plans for divestment of international assets.
Genco Shipping & Trading has filed for Chapter 11 bankruptcy protection on Monday as it planned to restructure the company and emerge immediately from bankruptcy although it did not provide a specific time frame for the move.
