Fusion Corporate Partners

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1.       Gadget review site gdgt has raised $3.165

• Details: According to The Wall Street Journal, gadget review site gdgt has raised $3.165 million. gdgt had raised $550,000 in seed funding from Betaworks and True Ventures last year.
• Investors: Led by Spark Capital and True Ventures. Betaworks, AOL Ventures, Lerer Media Ventures and a number of individual investors also participated.
• Contacts: Peter Rojas, founder: Ryan Block, founder
• Location: USA, New York, NY
• Categories: Consumer website, Reviews
• Link: The Wall Street Journal

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

• Details: United Managers Japan Incorporated Russia Fund has acquired 30% of Game Network, owner of three Russian television channel for gamers, Gameland TV. The channel is going to distribute Japanese anime and manga content to the Russian audience.
• Contacts: Chairman UMJ Russia Fund, Makoto Takahashi: CEO UMJ Russia Fund, Masahiro Koshiba
• Location: Moscow
• Categories: Television, Online Games
• Links:
  • Quintura Blog
  • Reported in newspaper Vedomosti

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