SportPursuit, a flash sales site based in the UK, nabbed £5M from its Series B financing round led by London-based venture capital firm DFJ Esprit and participated in by Silicon Valley Bank and angel investors, TechCrunch reported.
Investors
Volcker Rule forces executives of bank-backed private equity firm to travel in search for deals
As banks shed off their private equity units to comply with the Volcker Rule, the executives of these newly-independent firms will find themselves doing more travel in their search for new investors, The Wall Street Journal reported.
Taiwan-based phone maker HTC Corp to turn to more affordable smartphones after last year's losses
HTC Corp intends to expand its range of more affordable smartphones after the losses it experienced last year for its high-end product offerings, Reuters reported.
French firm Accor plans on selling its full stake in Mumbai BKC hotel
Paris, France-based hospitality major Accor is aiming to exit its 40% stake in Mumbai, India-based Sofitel hotel in Bandra-Kurla Complex (BKC) and fold the Sofitel brand into itself, according to sources.
Australian miner Axiom acquires gold-silver-copper project in Solomon Islands
Queensland, Australia-based mining and exploration firm Axiom Mining acquired the gold-silver and copper-gold mineralization West Guadalcanal Project located in the Solomon Islands for an undisclosed amount.
Latest News
Oregon, US-based startup bRight Switch launched a crowdfunding campaign on Indiegogo to raise $115,500 for a prototype of a wall-fixed smart tablet that will replace the ordinary home light switch.
Political and financial upheaval in some of the world's largest emerging economies is driving a new wave of rich migrants to London's supercharged property market as a place to park their wealth, data from a leading real estate agency showed on Friday.
Google Glass is doing more roadshows to give the public and politicians the chance to try Google Glass and help remove the negative publicity that surrounds it, TechCrunch reported.
Nestle, the world's biggest food company, is looking at ways to reduce its $30 billion stake in cosmetics firm L'Oreal, Bloomberg reported on Saturday, citing sources with knowledge of the matter.
Brisbane, Californian-based women's retailer Bebe Stores Inc is thinking of selling the company and is reaching out to private equity firms, according to people interviewed by Reuters.
MassHousing, a self-supporting quasi public agency in Massachusetts, has closed $11.8 million loans to acquire and convert Sitkowski School to 66 affordable apartments for seniors, Boston.com reported.
British helicopter airline Bristow Helicopters picked up a 60% stake in UK-based airline Eastern Airways International Ltd, with the two firms to continue operating as entities independent from each other, as part of the strategic investment deal.
Rengan Rajaratnam, the younger brother of Galleon Group Founder Raj Rajaratnam, has asked the US District Court in New York to dismiss charges of insider trading filed against him last year, Reuters reported.
As plans to look for a buyer for its chip manufacturing business fail, IBM is said to be looking for a joint venture partner for the operations, according to sources interviewed by Bloomberg.
