Rakuten Inc. of Japan has agreed to buy online retailer Buy.com for $250 million in cash. Sellers include Clearlake Capital Group, which bought a 9% stake in Buy.com three years ago.
3 min read · 21 May 2010
Mindspark Interactive Network, a unit of IAC, has acquired a majority stake in DailyBurn, a fitness social network. No financial terms were disclosed. DailyBurn had raised around $525,000 in seed funding from FF Angel LLC, StumbleUpon's Garrett Camp and author Tim Ferriss.
3 min read · 21 May 2010
1 min read · 21 May 2010
Eutechnyx, a UK-based videogame developer, has raised £6 million in VC funding led by Prime Technology Ventures.
2 min read · 21 May 2010
Toyota Motor Corp. has agreed to purchase $50 million worth of common stock in electric car-maker Tesla Motors, following the company's planned IPO. The investment is part of a larger joint development deal, announced yesterday. Tesla is in registration for a $100 million IPO, and has raised $220 million in VC funding from firms like Draper Fisher Jurvetson, Daimler AG and VantagePoint Venture Partners.
2 min read · 21 May 2010
Ami Assayag has joined SeventySix Capital, a Philadelphia-based early-stage VC firm, as an entrepreneur-in-residence. Assayag is a serial entrepreneur, having founded VisualFund and co-founded eHealth Software Solutions.
3 min read · 21 May 2010
Zynga has acquired Beijing-based social gaming company XPD Media. No financial terms were disclosed. XPD Media had raised over $2 million from True Ventures and Pilot House Ventures. Zynga has raised around $240 million in total VC funding, from Digital Sky Technologies, Andreessen Horowitz, Tiger Global, Institutional Venture Partners, Kleiner Perkins Caufield & Byers, Union Square Ventures, Foundry Group and Avalon Ventures.
1 min read · 21 May 2010
1 min read · 21 May 2010
Cisco has agreed to acquire CoreOptics, a San Jose, Calif.-based maker of optical networking subsystems, for approximately $99 million in cash. CoreOptics had raised more than $90 million in VC funding from T-Com Venture Fund, GIMV, Crescendo Ventures, TVM Capital, High Tech Private Equity, Atila Ventures and Quest for Growth.
2 min read · 21 May 2010
Jon Steinberg has agreed to join New York-based content aggregator BuzzFeed as president. He had spent the past seven months as an executive-in-residence with Polaris Venture Partners, before which he was strategic partner development manager for Google’s Small Medium Business Partnerships group.
2 min read · 21 May 2010
