FUND RAISING ROUND-UP

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1.       Gadget review site gdgt has raised $3.165

2.       Quora closes a Series A round

  • Details: Quora, a startup building a continually improving collection of questions and answers, has closed a Series A round of financing. Matt Cohler, general partner at Benchmark, will join the company’s board. TechCrunch reports that it was an $11 million round that valued the company at $86 million.
  • Investors: Benchmark Capital
  • Contacts: Adam D’Angelo, CEO: Matt Cohler, general partner at Benchmark
  • Location: USA, Palo Alto, CA
  • Categories: Consumer website
  • Link: Press Release

3.       Stitcher raises $6 million

  • Details: Stitcher, a service that allows users to customize talk radio programming on their mobile devices, has raised $6 million in a Series B round of financing. The funding will be used to further Stitcher’s product and platform development. Bob Kagleof Benchmark Capital will join Stitcher’s board of directors.
  • Investors: Led by Benchmark Capital, with participation from previous investor New Atlantic Ventures and tech veterans including Ed Scott and Ron Conway
  • Contacts: Noah Shanok, CEO of Stitcher: Bob Kagle, general partner at Benchmark Capital
  • Location: USA, San Francisco, CA
  • Categories: Radio

4.       Tencent Invests $300m in Digital Sky Technologies

  • Details: Tencent Holdings Limited, a leading provider of Internet and mobile & telecommunications value-added services in China, is to invest approximately US$300 million in Russian investment group Digital Sky Technologies (DST). DST’s hold stakes in Facebook and Zynga. The aggregate consideration of approximately US$300 million, which will be paid in cash, gives Tencent approximately a 10.26% economic interest in DST upon completion of the transaction. Tencent will hold approximately 0.51% of the total voting power of DST and have the right to nominate one observer to the DST Board.
  • Contact: Chief Executive Officer of DST, Mr. Yuri Milner, President of Tencent, Mr. Martin Lau
  • Location: Hong Kong and Moscow
  • Categories: Investment Group
  • Link: Press Release

5.       UMJ Russia Fund invests $3 million in Game Network

Contact us at pkelly@fusioncorp.co.uk or visit the Fusion Corporate Partners website

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