Palo Alto, US-based analytics and SaaS (Software as a Service) startup PunchTab bagged $6.25 million in its recent funding round led by Mohr Davidow Ventures to run loyalty programs and promotions for its large enterprise clients.
New York, US-based brand advocacy startup Crowdtap picked up $5 million in a Series B funding round led by Foundry Group to continue inspiring its customers to create quality promotional content on blogs and social media sites.
Denver, Colorado-based online market research firm GutCheck secured $4 million in a funding round led by Icon Venture Partners to test out the potential of different business ideas.
Connecticut, USA-based venture capital firm Canaan Partners invested INR35 crore in Bangalore, India-based digital media firm SureWaves for the latter's global growth and workforce expansion.
The Reserve Bank of India recently announced that multinational companies can hike their stakes in Indian arms without its approval. Many MNCs are now looking to increase their stakes, go for a merger or de-list their local units.
Food giant Nestle announced its intention to sell the bulk of its Jenny Craig business to private equity firm North Castle Partners.
Italian confectionery firm Ferrero said through its spokesman that reports about the company receiving acquisition offers were complete fabrications.
Sources told Reuters that Nestle had plans to exit from its unprofitable businesses like Jenny Craig.
Nestle SA said that it would keep all possible options open as it considers the sale of its 29.4% stake in L'Oreal SA.
One scenario is the divestment of the L'Oreal shares but Nestle may pull a surprise at the last minute.
French cosmetic firm L'Oreal said it could afford to buy back the EUR 23 billion stake that Nestle holds in the firm.
L'Oreal CEO Jean-Paul Agon said that the company would be ready to buy Nestle's stake in the company which was valued at EUR22 billion.
Joe Galasso was named as the new Director of Sales at Alkame(TM) Water.
China probes Tetra Pak for possible market dominance
Two food giants, Nestle and Danone faced China's probe on the food sector for unethical practices with price cuts on infant milk formula.