Slack has raised $200 million in venture capital financing, boosting its valuation to $3.8 billion, the messaging software startup said on Friday, Reuters News reported.
2 min read · 01 April 2016
Slack has raised US$200 million in venture capital financing, boosting its valuation to US$3.8 billion, Reuters reported. Based in San Francisco, Slack makes messaging software for businesses, designed to help teams collaborate and communicate more effectively. The company, which also has an office in Vancouver, was launched in early 2014 by Canadian entrepreneur Stewart Butterfield.
2 min read · 01 April 2016
(Reuters) Private equity firm Silver Lake Partners has agreed to acquire a minority stake in Ancestry.com in a deal that values the privately held genealogy website at $2.6 billion, including debt, people familiar with the matter said on Friday.
3 min read · 01 April 2016
The financial health of Canadian pension funds declined in the first quarter of 2016, affected by volatile currency markets, weakness in equity markets and lower bond yields, Reuters reported, citing a report by consultancy Aon. The quarterly survey of 449 Aon-Hewitt-administered Canadian pension funds, which measures the plans' assets over liabilities to calculate their solvency-funded ratio, showed overall pension solvency dropped by 4.5 percentage points through the quarter.
1 min read · 01 April 2016
(Reuters) China’s Anbang Insurance Group Co has abandoned its bid for Starwood Hotels & Resorts Worldwide Inc, people familiar with the matter said on Thursday, paving the way for Marriott International Inc to buy the Sheraton and Westin hotels operator. Anbang’s consortium, which includes private equity firms J.C. Flowers & Co and Primavera Capital Ltd, had offered $82.75 per share in cash. Marriott’s latest cash-and-stock offer, which was announced on March 21, is currently worth around $75 per share.
1 min read · 31 March 2016
London-based hedge fund firm Arrowgrass Capital Partners has amassed over $600 million for a mergers and acquisitions fund which launched in October, a source with direct knowledge of the matter said on Thursday.
1 min read · 31 March 2016
Investment and private equity funds, including Singapore's Temasek and Rothschild Group, are competing to invest in Argus Media in a deal that could value the energy-market data provider at more than US$1.3 billion. Sources told Reuters that U.S. buyout fund Hellman & Friedman, and a consortium comprising British private equity firm Charterhouse Capital Partners and Canada Pension Plan Investment Board (CPPIB), are among the contenders for the London-based company.
2 min read · 31 March 2016
(Reuters) Victory Park Capital Advisors LLC has put Chicago-based restaurant chain Giordano’s up for sale, according to people familiar with the matter. Victory Park, which paid $52 million to buy the company out of bankruptcy in 2011, has hired investment bank Piper Jaffray Companies to run a sale process, the people said. They suggested that Giordano’s could fetch more than $100 million in a sale.
2 min read · 30 March 2016
(Reuters) SendGrid, an email service company backed by Bain Capital and Bessemer Venture Partners, is targeting revenue of $100 million by 2017 and expects to become profitable in the second half of this year. The company also aims to be “IPO-worthy” by next year, CEO Sameer Dholakia said.
2 min read · 30 March 2016
(Reuters) Biotech venture capitalist G. Steven Burrill and his firm Burrill Capital Management LLC agreed to pay $5.8 million to settle SEC charges that he stole investor money to fund a "lavish lifestyle," the SEC said.
2 min read · 30 March 2016
