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Reed Hastings Leads $11M for DreamBox Learning

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Netflix chief Reed Hastings led an $11 million round for DreamBox Learning, investing through the Charter School Growth Fund, the company announced Wednesday. Also investing in the round were venture capitalist John Doerr, publicly traded GSV Capital Corp. and individual investor Deborah Quazzo. The Web-based learning company was founded in 2006 in Bellevue, Wash., and acquired in April 2010 by the Charter Fund in partnership with Reed Hastings, the company said.

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8

Simply Fabulous: Andreessen Horowitz Leads $40M Series B for Fab.com

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Fab.com — which pivoted from a lifestyle website for gay men to a design-focused flash sales site — announced Wednesday that it raised $40 million in a Series B round led by Andreessen Horowitz. The new round comes just five months after the company raised an $8 million Series A led by Menlo Ventures.

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Created by waterstone 23 weeks 21 hours ago
Category: Private Equity   Tags:
9

Dendreon Sells Royalty Interest

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Dendreon Corporation has agreed to sell for $125 million in cash its royalty interest related to intellectual property licensed to Schering and associated with VICTRELIS, a treatment for chronic hepatitis C. The royalty interest was acquired by CPPIB Credit Investments, a wholly-owned subsidiary of CPP Investment Board.

PRESS RELEASE

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9

Benchmark, Greylock Lead $15M for Edmodo

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Edmodo, a San Mateo, Calif.-based online network for teachers and students in K12 schools, has raised $15 million in Series B financing. Greylock Partners and Benchmark Capital led the round and, as a result, Greylock’s Reid Hoffman has joined the company’s board along with Benchmark’s Matt Cohler. Edmodo’s existing investors include Union Square Ventures and Learn Capital, the company said.

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5

Corzine: "I simply do not know where the money is"

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Jon Corzine has finally given his side of the story.

In prepared remarks for his Congressional appearance, he notes that, "I was stunned when I was told on Sunday, October 30, 2011, that MF Global could not account for many hundreds of millions of dollars of client money. I remain deeply concerned about the impact that the unreconciled and frozen funds have had on MF Global's customers and others."

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3

CiiNOW Inks $13M from Foundation & Alcatel-Lucent

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CiiNOW, a Mountain View, Calif.-based cloud compute platform developer, has closed on $13 million in Series A financing from Foundation Capital, Alcatel-Lucent and an unnamed strategic investor. The company is using the money to expand its hiring and partnership development teams, among other efforts.

PRESS RELEASE

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5

Online Payments Co. Klarna Lands $155M Financing

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Klarna, an online payments service based in Stockholm, has closed $155 million financing from DST Global, General Atlantic and Sequoia Capital. The funding will support expansion efforts. With Klarna, consumers do not have to pay for products until they are delivered. The company says it handles more than $2.5 billion worth of transactions annually.

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3

Jefferies CEO fights for personal wealth

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When the markets started treating Jefferies like the next MF Global, Jefferies CEO Richard Handler kicked into action, winning praise for his aggressive efforts to stem the tide of rumors against a phalanx of short sellers emboldened by Egan Jones, which had issued a negative report about the company.

Handler's decision to sell off much of the company's European debt exposure and his willing to confront the issues head on in a widely publicized memo seemed to have worked. No one thinks the company is about to go belly up, the way MF Global did.

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8

Nextag Acquires Fansnap

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Online comparison shopping company Nextag has acquired FanSnap, an online ticket comparison shopping site. FanSnap will relocate its team to Nextag’s headquarters in San Mateo, California. Financial terms of the deal were not disclosed. Nextag is backed by Providence Equity Partners, Morgenthaler Ventures and Technology Crossover Partners.

PRESS RELEASE

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4

CYTOO and Cenix Join Forces

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Grenoble, France-based CYTOO, a a provider of innovative enabling technologies for high content cell analysis, has teamed up with Cenix BioScience, a developer of industrial high-content screening applications of RNAi. CYTOO in November closed of a series C funding round of $10 million. New investors, Sham and Entrepreneurs Fund (EF), led the round. Existing investors AURIGA Partners and Jacques Lewiner, co-founder and president of the supervisory board at CYTOO, also participated.

PRESS RELEASE

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5

SOASTA Adds $12M for App Testing

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SOASTA has added $12 million in fresh capital from existing shareholders The Entrepreneurs’ Fund, Canaan Partners, Formative Ventures and Pelion Venture Partners. The latest round brings SOASTA’s total raised to $32 million. The Entrepreneurs’ Fund led the round, “significantly” increasing its stake, says Chief Executive Tom Lounibos. “It was pro rata or a slight uptick for everyone else,” he says.

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4

Big PE deals in trouble

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We noted recently that the leveraged buyout of TXU, now known as Energy Future Holdings, spawned lots of questions about the long-term viability of the deal.

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9

Angry Birds Goes Live

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The computer game Angry Birds will become a live attraction for children next year when the first Angry Birds playgrounds appear in Finland, writes Reuters Life. Mobile gaming firm Rovio, which owns the hit game, earlier this year raised $42 million from venture capital firms including Accel Partners, which previously backed Facebook and Baidu, and Skype founder Niklas Zennstroem’s venture capital firm Atomico Ventures, writes Reuters Life.

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9

Energy 1 joins Forces with Nuemark

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Boca Raton-based Energy 1 Corporation has secured funding from an unnamed private equity firm to put its ExhausTek technology on the road. The company has also entered into an agreement with The Nuemark Group, a financial communications and consulting firm as a part of its commitment to transparency.

PRESS RELEASE

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8

Laid-off bank workers get benefits intended for others

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The ranks of unemployed back office workers at banks--these folks are definitely not the fat cats--is growing. And many will be pleased to know that they apparently qualify for government assistance via the U.S. Labor Department's Trade Adjustment Assistance program, which was originally aimed at workers displaced because their jobs were offshored.

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2

Getaround Will Soon Launch Its Car Sharing Service in Portland, OR

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San Francisco-based Getaround, which has created a peer-to-peer carsharing marketplace that enables car owners to rent their cars, has partnered with the city of Portland, Ore., to launch its service in the city in February of next year.

PRESS RELEASE:

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3

Bank stocks still vex the value investing faithful

http://www.fiercefinance.com

Over the past few years, few sectors have vexed value investors quite the way the banking sector has.

The old thesis that you should buy the dips of established companies because they will inevitably bounce back has been the downfall of many investors. The best example remains Bill Miller of Legg Mason, who was burned badly toward the end of his amazing career by financial stocks. He stuck to the value mantra and bought financial stock when they looked amazingly cheap by conventional measures, only to ride them down even farther, in some cases into oblivion.

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