After being arrested last month for fraud charges, Motionloft founder Jonathan Mills was indicted by a San Francisco grand jury for wire fraud and money laundering and is facing 30 years in jail.
Sectors
Sina Weibo files for US IPO to raise as much as $500M
Sina Weibo, the China-based microblogging and social media site, has filed its IPO prospectus with the US Securities and Exchange Commission to raise as much as $500 million in its planned US debut, TechCrunch reported.
South Korean beauty box Memebox bags $1.5M in funding for US expansion
Palo Alto, US-based beauty box retailer Memebox, which was imported from South Korea, bagged $1.5 million in venture funding to establish its presence in the US.
Warren Buffet on Bitcoin: "Stay away from it."
Warren Buffet said Bitcoins were a "mirage" and that investors should "stay away" from it, VentureBeat reported citing the investor's comments on CNBC's "Squawk Box."
Nigerian mobile security startup i.Sec nabs $10M in funding
Nigeria-based mobile security startup i.Sec nabbed $10 million in a funding round from private equity group Synergy Capital to prepare for its public launch this May and for other undisclosed purposes.
Latest News
Flappy Bird creator Dong Nguyen told Rolling Stone he is thinking of bringing back the game but that won't be easy because of a clause in Apple's developer agreement, VentureBeat reported.
India-based fabric and clothing firm Arvind closed the acquisition of a 40% stake in Calvin Klein India from the Murjani Group and Matrix Partners in a deal valued at INR100 crore, according to sources familiar with the deal.
Mozilla finally pulled the plug on its Firefox for Windows 8 Metro browser after seeing no more than 1,000 users patronizing the app daily, TechCrunch reported.
A class action lawsuit was lodged in an Ontario Superior Court of Justice against Mt. Gox and Mizuho Bank Ltd by Bitcoin investors from Canada, Reuters reported.
Ireland saw a 6% increase in its venture capital activity with the help of private investors who poured in £237 million (€284 million) in investments in 2013.
The US is planning to surrender control of the system that assigns website addresses to a private group when the contract of the Internet Corporation for Assigned Names and Numbers expires next year, Bloomberg reported.
Local private equity firm Fireman Capital Partners (FCP) picked up a majority stake in a Dunkin' Donuts franchise group in Florida for an undisclosed sum.
Maruti Suzuki India Ltd said it will be asking its minority stakeholders to approve the plan of parent firm Suzuki Motor to build a car plant in Gujarat, Bloomberg reported.
During the inauguration of the Keemanshoop Old Mutual Retail Centre yesterday, Namibia President Hifikepunye Pohamba called on foreign firms to invest in the country's infrastructure development to help the improve its economy.
