Chinese online video company Tudou Holdings Ltd priced shares in its initial public offering within the expected range on Tuesday, even though investor sentiment toward U.S.-listed Chinese stocks and the recent stock market turmoil had suggested it would be difficult. Investor appetite for U.S.-listed Chinese stocks has waned after a series of accounting scandals, and 10 of the 12 IPOs scheduled for last week were pulled as concerns about the U.S. economy and the European debt crisis created a volatile trading environment. Still, Tudou and its owners sold 6 million American Depositary Shares for $29 each, raising $174 million. They had planned to sell ADS for $28 to $30 each. Much like Google Inc's YouTube, Tudou allows users to watch, upload, rate, comment on and recommend videos.
3 min read · 17 August 2011
Robert Sheehey, former CEO of UnitedHealthcare, has joined the board of Evolution1, the electronic payment and cloud computing healthcare solutions firm overseeing reimbursement accounts, the company revealed. Evolution1 is a portfolio company of private equity firm Genstar Capital Partners.
3 min read · 16 August 2011
James M. Spencer, the UBS financial institutions veteran, has joined Lazard, the listed New York investment bank as managing director of the company’s financial institutions group. Prior to joining UBS, Spencer was with Credit Suisse First Boston for five years. Spencer began his career in 1989 as a bank examiner for the FDIC.
2 min read · 16 August 2011
(Reuters) - Global private equity firm Blackstone is seeking A$431 million ($452 million) financing to back its purchase of Australia property firm Valad Property Group, Thomson Reuters Basis Point reported on Tuesday, citing bank sources.
1 min read · 16 August 2011
Morgan Stanley Private Equity Asia will invest $100 million in China XD Plastics Co., LTD, a maker of modified plastics for the automotive industry. Based in Harbin, China, the company is listed on Nasdaq. MSPEA will get a pair of board seats as part of the transaction. There are currently 70 auto brands that use China XD parts, including Audi, BMW, Toyota and Mazda
4 min read · 16 August 2011
Socialware, the Austin, Texas-based social media management firm, has netted a $7 million Series C from Morgan Stanley Expansion Capital. The company, led by Chad Bockius, has taken about $12 million from investors including Silverton Partners, Floodgate Fund and G-51 Capital.
3 min read · 16 August 2011
Dr. Lucy, the maker of gluten-free cookies, based in Norfolk, Va., will take its second in a series of capital investments from LaSalle Capital Group II-A LP. The company makes cookies without wheat, gluten, dairy, butter, eggs, casein, peanuts or tree nuts. Specifics on the deal were not publicized.
2 min read · 16 August 2011
Panorama Capital led a $15 million round Series D financing along with Cardinal Venture Capital, Worldview Technology Partners and Highland Capital Partners. The company will use funds to accelerate operations. Zoove operates an exclusive network of mobile phone “StarStar” numbers.
4 min read · 16 August 2011
BuyWithMe, the Boston-based daily deals site, acquired ScoopSt, the New York-based daily deals site. Specifics of the transaction were not publicized. Lately, BuyWithMe has grown via M&A, including deals to acquire Groop Swoop, DealADayOnline and LocalTwist. BuyWithMe is backed by VCs Bain Capital Ventures and Matrix Partners.
2 min read · 16 August 2011
SironRX Therapeutics, the Cleveland-based regenerative therapies company for dermal and bone healing, completed a $3.4 million Series A round led by North Coast Angel Fund and including Cleveland Clinic, JumpStart Inc., Fletcher Spaght Investments, Glengary LLC, Ohio Tech Angel Fund III, Early Stage Partners, X Gen Ltd. and a significant number of individuals.
3 min read · 16 August 2011
