SAN FRANCISCO, July 27 (Reuters) – Social media companies,
once hailed by their Silicon Valley boosters as world-changing
businesses with limitless potential, are instead proving a
sobering reminder of how investors can be seduced by Internet
With few exceptions, the first wave of social media firms to
trade on the public markets has delivered a disastrous
performance that conjures memories of the dot-com bust of 2000.
“We are seeing a lot more dealflow outside the U.S.” said Intel Capital President Arvind Sodhani, an Indian-born globetrotter who believes the trend will continue– if only because that’s where most of the world economy is.
SAN FRANCISCO, June 27 (Reuters) – Mobile payments company
Square is close to securing around $200 million in new funding
from private-equity investor Suhail Rizvi at a valuation of
about $3.25 billion, a source familiar with the matter told
Reuters, less than the company had hoped for.
Square, headed by Twitter co-founder and chairman Jack
Dorsey, has secured previous financing from prominent venture
capitalists and some said it had been seeking new funding at a
$4 billion valuation.
SAN FRANCISCO (Reuters) – Asana, a Silicon Valley start-up, has lined up $28 million in a financing round led by PayPal co-founder Peter Thiel and his Founders Fund, the company said.
The funding round values the workplace-collaboration company at $280 million, a person familiar with the matter said.
July 23 (Reuters) – Redpoint e.ventures, the Brazilian
venture-capital firm created by Redpoint Ventures and
e.ventures, said it had raised $130 million for its inaugural
The sum, significant for venture capital in Brazil,
underscores the region’s increasingly high profile among
investors. They see opportunity in a country with a large
population, a fast-growing middle class, big growth potential
and political stability.
SAN FRANCISCO, July 20 (Reuters) – Venture-capital firm
Kleiner Perkins Caufield & Byers said o n F riday it would appeal
a California judge’s decision that an employment discrimination
case brought by one of its partners should stay in court rather
than move to arbitration as Kleiner had requested.
The appeal, which could take months, seems likely to keep
one of Silicon Valley’s higher-profile cases in the public eye
for now. Kleiner Partner Ellen Pao’s suit has become the talk of
the Bay Area, inspiring debate on its merits as well as the
broader question of sexism in the technology industry.
SAN FRANCISCO, July 20 (Reuters) – A California judge on
F riday told venture capital firm Kleiner Perkins Caufield &
Byers LLC he disagreed with its attempt to move an employment
discrimination case brought by one of its partners to
arbitration, for now keeping one of Silicon Valley’s
higher-profile cases in the public eye.
While San Francisco Superior Court Judge Harold Kahn did not
issue a formal ruling from the bench at a court hearing, he told
Kleiner attorneys they could appeal his decision if they
(Reuters) – When staffers at the National Venture Capital Association see a report that refers to U.S. presidential candidate Mitt Romney’s investments as venture capital, they grimace — and then contact the author to explain politely why it’s wrong.
The Republican White House hopeful was head of Bain Capital LLC, which does the bulk of its work in private equity and not venture capital, the NVCA would clarify. Venture capital backs companies from their earliest days, and some go on to create thousands of jobs; private equity typically comes in at later stages to turn around underperforming companies, sometimes via job cuts and other unpopular cost-savings moves.
Mountain View, Calif.-based Openbucks has reeled in Yang as its latest investor. He led a $4.8 million funding round for the company, joined by former Yahoo CEO Terry Semel, Greycroft Partners, SV Angel, and others.
SAN FRANCISCO (Reuters) – Shera Bechard, the Canadian-born former girlfriend of Playboy Enterprises founder Hugh Hefner, would not be an obvious candidate for the special visas that the U.S. government reserves for “individuals with extraordinary ability.”
Playboy magazine named Bechard Miss November in 2010, and she also started an online photo-sharing craze called “Frisky Friday.” Neither seems quite on the level of an “internationally recognized award, such as a Nobel Prize,” which the government cites as a possible qualification.