Warburg Pincus related stories
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Zipmark Completes a $2 Mln Seed RoundZipmark, which lets users pay bills using their smart phones, has closed $2 million in seed funding, according to cofounder and CEO Jay Bhattacharya. Bhattacharya wouldn't disclose investors. That information will be revealed when Zipmark puts out a statement (that's coming soon, he says). "We’ve been working toward this for the last 12 months," Bhattacharya says. "We’re very happy with the syndicate of New York-based investors that is coming together." Founded in March 2010 by Bhattacharya and Jake Howerton, Zipmark is a mobile and online payments company. Zipmark, of New York, claims its transactions are just like using a check, but without the paper or the trip to the bank. Using a mobile barcode, Zipmark accepts payments from any bank, thrift or credit union. Customers pay with the money in their checking accounts and any payments go directly into their accounts, without fees or delays, according to the Zipmark web site.
- Warburg Pincus Backs The Mutual Fund Store
Private equity firm Warburg Pincus has put an undisclosed amount of money into investment advisor The Mutual Fund Store. The companies said the investment would help with expansion efforts. Specific terms of the transactions were not disclosed. Kansas City-based The Mutual Fund Store was formed in 1996.
- PE Firms in Race for GlaxoSmithKline Products
Private equity firms including Advent International, Cinven and Warburg Pincus are considering bids for a group of GlaxoSmithKline's non-prescription products, Reuters reported. Up for sale are several over-the-counter drugs including painkillers and vitamin supplements. The products have sales of around 500 million pounds ($817 million), representing about 10% of the company's total consumer healthcare business, Reuters reported.
- Lenddo Provides Loans For Consumers In Emerging Markets
Need a quick loan to buys some books for school? In the U.S., such loans aren't that hard to secure. But in emerging countries like the Philippines or Brazil, these loans can be a headache for middle class consumers, says Jeff Stewart, cofounder and CEO of Lenddo. Often times, these countries don't have the infrastructure to provide student or housing loans, Stewart says. Customers typically wait hours in a local bank to speak to a loan rep, fill out applications on carbon forms and then wait weeks to find out whether they were approved. If they aren't, these college educated consumers--which are typically accountants, call center employees or computer programmers-- are often at the mercy of local loan sharks, Stewart says. "These people are the emerging middle class," says Stewart. "They work, they have jobs and they have some level of education but there's no real credit history on them. They couldn’t go to a bank."
- Advent Backs Bojangles
Buyout shop Advent International will invest an undisclosed amount in chicken-and-biscuits chain Bojangles’, the firm said Monday. The money will support growth. Bojangles was formed in 1977 and is based in Charlotte, N.C. The company operates about 500 restaurants, and plans to open 40 new locations this year. Terms of the Advent investment were not releaed. As part of the transaction, Falfurrias Capital Partners has agreed to sell its entire investment in Bojangles' to Advent.
- Warburg-backed Ceres Adds Underwriters for IPO--CORRECTED
Ceres Inc., an agricultural biotech company backed by Warburg Pincus and Monsanto Co., has added two new underwriters to its $100 million initial public offering. Raymond James and Simmons & Company International join existing underwriters, Reuters reported. The company is based in Boston California.
- Blackstone, Carlyle Among Bidders for Morgan Keegan
Private equity firms Blackstone Group and the Carlyle Group, TPG Capital, Apollo Global Management and Warburg Pincus are among those interested in buying Morgan Keegan, the brokerage unit of Regions Financial Corp., Reuters reported. The firms, as well as Stifel Financial Corp., are expected to submit bids for Morgan Keegan Monday. Morgan Keegan has a book value of about $1.5 billion, Reuters wrote.
- peHUB Second Opinion 07.19
Not California: What five state's did Moody's put on watch http://professional.wsj.com/article/SB10001424052702303661904576456103709042260.html?mod=rss_whats_news_us&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+wsj%2Fxml%2Frss%2F3_7011+%28WSJ.com%3A+What%27s+News+US%29&utm_content=Google+Reader&mg=reno-secaucus-wsj for downgrade? Blowout Earnings: Apple sold 20.3 mln iPhones http://gigaom.com/apple/by-the-numbers-apples-third-quarter-2011-earnings-revenues/ and 9.25 mln iPads. And, Apple confirms http://venturebeat.com/2011/07/19/apple-confirms-that-os-x-lion-will-ship-wednesday/ that OS X Lion will be released Wednesday. Not Me: Rupert Murdoch denies knowledge http://www.businessweek.com/news/2011-07-19/murdoch-denies-knowledge-of-phone-hacking-will-clean-up-mess-.html of phone-hacking scandal and then nearly gets hit with a pie http://content.usatoday.com/communities/ondeadline/post/2011/07/protester-armed-with-foam-pie-attacks-murdoch/1 Humble Pie: What other rich and famous people got smacked with pies? http://images.businessweek.com/slideshows/20110719/humble-pie-for-rupert-murdoch/slides/1 How to Defend Your Man: What CEO wives can learn from Wendi Deng http://dealbreaker.com/2011/07/what-ceo-wives-can-learn-from-murdochs-wife-this-is-how-you-defend-your-man/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+dealbreaker+%28Dealbreaker%29&utm_content=Google+Reader Deal Possible: MSFT drops out of the bidding http://www.bloomberg.com/news/2011-07-19/microsoft-is-said-to-drop-out-of-auction-for-hulu-online-streaming-service.html for Hulu leaving Yahoo. What Financial Crisis? Warburg Pincus plots $12 bln fund http://blogs.wsj.com/deals/2011/07/19/what-financial-crisis-warburg-pincus-targets-12-billion-fund/?mod=WSJBlog&utm_source=twitterfeed&utm_medium=twitter Bleak House: Neil Gaiman, author of American Gods, gives his list of top 10 books to read http://www.worldbooknight.org/wbn-blog/neil-gaimans-top-10.html Good on Paper: It's time for the Southern California newspaper market to consolidate, says The Deal's Richard Morgan http://www.thedeal.com/sense/2011/07/sense_of_the_markets:_platinum_equity_looks_good_on_paper.php