VENTURE CAPITAL POST

Orlando, US-based sports footwear, apparel, and accessories maker Nike is about to cut off 70 out of the 200 members of its Digital Sport unit in a bold move to stop manufacturing hardware and focus its wearable tech efforts on software.

California, US-based social network giant Facebook announced that it will pull Messenger from its mobile app to boost the usage of the standalone Messenger, starting with European users before rolling out the change worldwide.

After helping 3 million people in the Philippines and Paraguay get access to the Internet, social media giant Facebook launched the Connectivity Lab to build drones and lasers that will help more people get affordable Internet access.

Tokyo, Japan-based Bitcoin exchange Mt Gox set up a call center to deal with the inquiries of Bitcoin users after it lost $473 million worth of the digital currency and filed for bankruptcy protection.

BlackBerry co-founder Mike Lazaridis has officially dropped his plans to purchase the firm via a joint bid with a fellow co-founder as new management struggles to turn the troubled company around.

Palo Alto, California-based Cyanogen has closed $23 million in Series B funding from Andreessen Horowitz and Tencent to expand its workforce and develop its CyanogenMod mobile operating system.

The US Federal Communications Commission (FCC) has approved Verizon's to buyout of Vodafone's stake in Verizon Wireless for USD130 billion, giving Verizon full ownership of the said network.

Hundreds of PlayStation fans braved the chilly weather in New York to line up and wait for Sony's midnight launch of the long-awaited PlayStation 4 game console.

It seemed that Google has a two-pronged strategy in mind involving the Chromecast and Google TV.