April 30 (Reuters) – An investor in Uber, the fast-growing
alternative taxi service, has reached out to a venture capital
firm about a potential new funding round that could value the
company at $1 billion or more, a person familiar with the
situation told Reuters.
Uber’s chief executive, Travis Kalanick, said the company
was not currently raising money.
SAN FRANCISCO (Reuters) – Ride-sharing service Uber is raising a new funding round at a valuation of $1 billion, according to a person familiar with the situation.
If the company succeeds, it will join an elite group of start-ups that command 10-figure valuations. The situation underscores investors’ desire to pay premiums for any company they think might become the type of outsized success story along the lines of business network LinkedIn or software company Workday.
SAN FRANCISCO, April 30 (Reuters) – Ride-sharing service
Uber is raising a new funding round at a valuation of $1
billion, according to a person familiar with the situation.
If the company succeeds, it will join an elite group of
start-ups that command 10-figure valuations. The situation
underscores investors’ desire to pay premiums for any company
they think might become the type of outsized success story along
the lines of business network LinkedIn or software
(Reuters) – As investigators searched through videos and photos for clues that ultimately led them to the suspects in this week’s bombing at the Boston Marathon, their search likely relied more on old-fashioned police work than technology, officials who work on such investigations and related technology say.
Advances in facial-recognition technology and related fields have been significant in recent years, but the technology mostly still isn’t good enough to match blurry images or those that show a face only from an angle, say people familiar with law-enforcement dealings.
SAN FRANCISCO (Reuters) – Ellen Pao, a former Kleiner Perkins Caufield & Byers junior partner who is suing the venture capital firm for gender discrimination, has landed a new job heading up strategic partnerships at social-news website Reddit.
Pao had been working with Reddit for the last year, according to a blog post by Reddit Chief Executive Yishan Wong on Thursday. (here) Her work there gives her an operational role rather than the advisory role venture capitalists typically take.
SAN FRANCISCO (Reuters) – Foursquare said on Thursday it raised $41 million in a new financing round that relied on debt, rather than equity, to give the location-based start-up the money it needs to keep expanding.
The cash came from a new investment by technology private-equity firm Silver Lake, through its Waterman growth debt fund, as well as existing investors Andreessen Horowitz, O’Reilly AlphaTech Ventures, Spark Capital, and Union Square Ventures, Foursquare founder Dennis Crowley wrote in a blog.
SAN FRANCISCO, April 10 (Reuters) – Venture firms Andreessen
Horowitz, Google Ventures, and Kleiner Perkins Caufield & Byers
are teaming up to provide funding for startups working with
Google Glass, the hybrid eyeglasses and smartphone developed by
The firms aim to provide funding to startups working on
applications and hardware designed to work with the glasses,
they said on Wednesday.
SAN FRANCISCO, April 10 (Reuters) – As the wrangling over
immigration reform intensifies in the U.S. Congress, the tech
industry is lobbying hard to raise the limit on H-1B visas,
which allow non-U.S. citizens with advanced skills and degrees
in “specialty occupations” to work in the country for up to six
Demand is so great that the annual cap of 65,000 was hit
last week, just days after the application period opened.
Technology companies support raising the H-1B quota almost
five-fold, to 300,000, arguing universities are just not turning
out enough American math and science graduates and they need to
cast their net abroad to stay competitive.
WASHINGTON, April 8 (Reuters) – A U.S. visa program ran a
lottery on Sunday to award 85,000 slots for high-skilled workers
just one week after the application period opened, the U.S.
Citizenship and Immigration Service said, signaling companies
feel confident enough about the economy to hire more foreign
The USCIS held the lottery to approve petitions for the
slots after it received approximately 124,000 H-1B petitions
last week, including petitions filed for holders of advanced
degrees from U.S. universities. The USCIS started accepting
petitions for the visas just a week ago, on April 1 and stopped
accepting them five days later because of high demand.
SAN FRANCISCO (Reuters) – BP Ventures will continue to expand beyond alternative energy to more mainstream energy investments, said Issam Dairanieh, BP Ventures’ director of global ventures.
The venture arm of the oil and gas giant BP (BP.L: Quote, Profile, Research) made its first refining and processing investment two years ago and its first exploration and production investment last year, Dairanieh told Reuters in a telephone interview.