Tim Armstrong, the chief executive of mass media company AOL Inc., on Saturday issued a memo informing employees that his company would revert to its previous employee retirement benefit plan after drawing outrage from employees. Armstrong also apologized for an unpopular remark he made in an attempt to explain the change in policy.
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Microsoft to rebrand SkyDrive cloud storage to OneDrive and possibly give incentives to get users on board
Microsoft will soon be renaming its cloud storage service to OneDrive with the tech giant potentially giving incentives like added free storage to encourage users to use the service, TechCrunch reported.
Private equity firms line up for Indian credit ratings company CARE
Private equity firms, including General Atlantic Partners, Actis Capital, Baring Private Equity Partners Asia and Apax Partners, are reportedly in talks with the principal owners of Credit Analysis and Research Ltd. CARE's top three shareholders are seeking to divest a 32% to 38% stake in the credit ratings company.
PlaceIQ secures $15M in Series C led by Harmony Partners
PlaceIQ has raised $15 million for its Series C financing round led by Harmony Partners and participated in by new investor Iris Capital as well as its previous backers in its Series B round, TechCrunch reported.
Bitcoin plunges after marketplace indefinitely halts withdrawals
The price of the digital currency bitcoin slid to its lowest level in nearly two months on Monday after bitcoin digital marketplace Mt. Gox said a halt on withdrawals it announced on Friday would continue indefinitely after it detected "unusual activity."
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Creathor Ventures and Northcap-backed mobile e-commerce platform Shopgate has purchased Magento developer MagCorp for an undisclosed amount. As part of the deal, MagCorp's developers will be joining the Shopgate team, TechCrunch reported.
Debu Purkayastha, a senior international executive who has worked with Google for six years, will be leaving the search giant to join the team at venture capital firm Octopus Investments, Tech Crunch reported.
Japanese gaming platform and web services provider DeNA invested an undisclosed amount in Between, a chat app for couples created by South Korean firm VCNC, to help the app become an open platform.
iSocket, a San Francisco, California-based direct ad sales platform, was able to secure $5 million in its recent round of financing, led by Time Warner Investments, TechCrunch reported.
New York, US-based travel management firm Rocketrip bagged $2.6 million in a Series A funding round led by Canaan Partners to accelerate its product development and to beef up its sales and customer services.
New York Times columnist and former executive editor Bill Keller will be leaving the American media firm to become the editor-in-chief of nonprofit news startup The Marshall Project on March 1.
Cornell University entrepreneurs and professors don't believe that a startup bubble is in the offing, despite what finance experts say, The Cornell Daily Sun reported.
Columbus, US-based natural gas compression startup Simple-Fill received an undisclosed amount of technology grant from the Technology Concept Fund, an investment fund backed by Ohio State University.
New Mexico, US-based app design and development startup ByteWare Apps launched Superflat, its first iPad gaming app, which is a supplement to the construction-based computer game Minecraft.
