Zynga acquires Beijing-based XPD Media

May 21, 2010 — Fusion DigiNet

Zynga has acquired Beijing-based social gaming company XPD Media. It is Zynga’s first Asian acquisition.

“As the largest Internet market in the world, China is at the vanguard for virtual goods based gaming innovation,” said Robert Goldberg, VP of Corporate Development. “We expect our new office in Beijing and the incredible talent in the local market to play a strategic role in our mission to create the best social gaming experiences worldwide.”

XPD Media’s CEO, Robin Chan, will become Zynga’s GM of Asian business development. Co-Founder Andy Tian will lead the Zynga Beijing studio. The XPD team of 40 employees will be immediately integrated into Zynga’s global workforce and focus on engineering and product development.

XPD Media, backed by True Ventures and Pilot Group, launched in early 2008 focusing on social game development for Asian and international social networks.

Terms of the acquisition were not disclosed.

Location: China, Beijing & USA, San Francisco, CA

Ref: F231109-458

Previous reports about Zynga on FusionDigiNet

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Rakuten to acquire Buy.com

May 21, 2010 — Fusion DigiNet

Japanese internet shopping company Rakuten is acquiring Buy.com. The acquisition is valued at approximately $250 million and will be carried out by Rakuten’s U.S. subsidiary, Rakuten USA.

In March this year Buy.com reported 146% year-over-year sales growth and said it had 11.5 million product listings. Buy.com’s Marketplace represented 46 percent of the company’s site orders in the fourth quarter of 2009 and more than 50 percent of Q1 2010 site orders to date. The growth of the Marketplace also helped contribute to Q4 2009 being Buy.com’s 13th consecutive profitable quarter.

Combined, the Rakuten and Buy.com represent one of the world’s largest online retail marketplaces, offering consumers more than 60 million products from close to 35,000 merchants around the globe.

Location: Japan, Tokyo and USA, Aliso Viejo, CA

Ref: F231109-457

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FUND RAISING ROUND-UP

April 26, 2010 — Fusion DigiNet

The best way to receive Fusion DigiNet information is to subscribe to the free email service available from the home page.

1.       Chinese online classifieds site 58.com has raised $15 million

Chinese online classifieds site 58.com has raised $15 million in its second-round funding according to news service Sina. The funds come mainly from Doll Capital Management (DCM) and SAIF Partners. CEO Yao Jinbo said that 58.com has retained control over the company, and that the funds raised will be mainly used towards expansion in second- and third-tier cities nationwide.

2.       Daily Grommet raises $3.4 million

Daily Grommet the curated online marketplace and video review site, has closed its Series A financing at $3.4 million. Investors participating in the round include Jean Hammond (investor and member of Hub Angels and Launchpad Venture Group), John Landry (angel investor at Lead Dog Ventures), Nancy Peretsman, and Jill Preotle (co-founder of the Boston Golden Seeds forum and private equity investor). The round also includes existing investors Launch Capital and Gerry Laybourne, founder of Nickelodeon and Oxygen Media.

  • Contact: Jules Pieri, CEO and founder of DailyGrommet.com
  • Location: USA, Lexington, MA

3.       News Corp. invests in Beyond Oblivion

News Corp. has made an investment in music start-up Beyond Oblivion as part of a $10 million series B funding round. The story was first reported on cnet. Allen & Co., a boutique bank that focuses onmedia, new media, communications & technology also took part. They are listed on the Beyond Oblivion website as their financial advisers.

  • Location: USA, New York, NY

Other News Corp. articles

4.       Networked Insights raises $5 million

Networked Insights, the social media analytics company, has closed $5 million in Series A funding. The round was led by Kegonsa Capital Partners. The company will use the funds to continue to expand the powerful capabilities of its SocialSense social media listening platform, launch new product offerings based on the SocialSense architecture and accelerate the growth of its sales and marketing programs.

  • Contact: Dan Neely, founder and CEO of Networked Insights
  • Location: USA, Madison, WI

5.       OpenSky raises $6M Series B Financing

OpenSky has closed a $6 million Series B financing led by Highland Capital Partners and Canaan Partners. This investment brings the total raised to $11 million by the year old New York startup that is re-imaging retail in today’s distributed media environment. The new investment will allow OpenSky to continue to move aggressively to scale its proprietary relationship commerce platform. OpenSky enables consumers to conveniently purchase goods directly from the people they follow and trust. OpenSky further supports these relationships by providing the consumer with a 365-day return guarantee and the ability to provide ongoing feedback to all parties.

  • Contact: John Caplan, Founder and CEO of OpenSky
  • Location: USA, New York, NY

6.       TheWrap Secures $2 Million in Series B Funding

TheWrap.com, the news organization covering the business of entertainment and media, has raised a $2 million B round capital investment from parties including Maveron, a venture capital firm co-founded by Starbucks CEO, Howard Schultz, and a majority of the Company’s A round investors.. The B round investment will be used to accelerate the continued expansion of TheWrap.com and to provide flexibility to take advantage of new market opportunities. This latest investment follows TheWrap.com’s Series A funding in January 2009 from Maveron and a group of private investors.

  • Contacts: Sharon Waxman, TheWrap.com,Founder and Editor-in-Chief: Ben Choi, Maveron Principal and TheWrap.com board member
  • Location: USA, Los Angeles, CA

7.       Tumblr raises another $5 million

Spark Capital and Union Square Ventures have invested $5 million into micro blogging site Tumblr. Spark and Union Square were also the only investors in Tumblr’s B round in 2008. Tumblr has now raised $10.2 million. The story was first reported on Media Memo.

  • Contacts: Founder David Karp
  • Location:  USA, New York, NY

8.       UK investment website Stockopedia raises $700K

UK investment website Stockopedia has secured over $700,000 in Seed Funding from a consortium of private City individuals. The site reaches close to 50,000 investors monthly and around 8,000 followers across all its Twitter feeds.

  • Contacts:  Dave Brickell and Edward Croft – Stockopedia Founders

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

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Livedoor sold to NHN for just $67 million

April 13, 2010 — Fusion DigiNet

The Japanese unit of NHN Corp.has agreed with Tokyo-based LDH Corp. to buy Liverdoor Co. for 6.3 billion yen ($67.44 million) to ramp up its business in Japan. The portal at one time had a market capitalisation of more than $7bn before its founder, Takafumi Horie, was arrested in January 2006 and later found guilty of falsifying the company’s accounts and misleading investors.

Sale Price:  6.3 billion yen / $67.44 million. LDH are to sell 100,000 shares in Livedoor to NHN by May 10. The sale accounts for 99 percent of LDH’s holding.
 
Acquirer:  NHN Japan
ACQ Web:  http://www.nhncorp.jp/
Other Web Links: Game Portal – Hangame Japan, Mobile Game Community Site – Hange
Location:  Japan, Tokyo
Region:  Asia
Description:  NHN Japan, established in September 2000, operates Hangame Japan, which is the largest online game portal in Japan. It ranked first place in the entertainment category of Yahoo! Internet Guide’s the WEB of the YEAR for three consecutive years (2004-2006). 2008 (2008) Revenue 11,507 million Yen: Operating Income 544 million Yen.
Category:  Online Games
Contact 1:  Chun Yang-Hyun, Chairman
Contact 2:  Morikawa Akira, CEO
 
Vendor:  LDH Corp
Vendor Web:  http://www.ldh-corp.co.jp
Business Sold: Liverdoor Co.
Location:  Japan, Tokyo
Region:  Asia
Description:  Liverdoor Co. offers various Internet solutions in Japan and internationally. The company primarily provides computer network consulting, computer network management, development and sale of computer programs, and network content editing and design services. It operates in Japan, China, Thailand, Germany, and Spain. Liverdoor Co. was founded in 1996 under the name Livin’ On the EDGE, Inc. and changed its name to Livin’ on the EDGE Co., Ltd. in 1997. Further, it changed its name to EDGE Co., Ltd. in 2003 and to Liverdoor Co., Ltd. in 2004.
Category: ISP, Software
Contact:  President, Ishizaka Hiroshi, LDH Corp 
 
 
FDN Database Reference:  F231109-384
 
Contact us at pkelly@fusioncorp.co.uk or visit the Fusion Corporate Partners website

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FUND RAISING ROUND-UP

April 12, 2010 — Fusion DigiNet

The best way to receive Fusion DigiNet information is to subscribe to the free email service available from the home page.

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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Blackstone Group invests in the most widely read newspaper in the world

April 8, 2010 — Fusion DigiNet

The Blackstone Group (NYSE: BX) will be investing INR 2250 million in Jagran Media Network Private Limited, which will hold majority share of Jagran Prakashan Limited.  Jagran Prakashan Limited (NSE: JAGRAN.NS, BSE: JAGRAN.BO) is India’s leading media and communications group, with the group’s flagship brand, Dainik Jagran, being the most widely read newspaper in the world with a total readership of 54.6 million. Jagran Media Network Private Limited will file for necessary approvals for the investment with the Foreign Investment Provision Board (FIPB) today.
Aprox. Value:  INR2,250 million
 
Acquirer:  The Blackstone Group
ACQ Web:  http://www.blackstone.com
Location:  USA, New York, NY
Region:  North America
Description:  Blackstone Group is an investment and advisory firm. Their alternative asset management businesses includes the management of private equity funds, real estate funds, funds of hedge funds, credit-oriented funds, collateralized loan obligation vehicles (CLOs) and closed-end mutual funds. The Blackstone Group  also provides various financial advisory services, including mergers and acquisitions advisory, restructuring and reorganization advisory and fund placement services.
Category:  Private equity
Contact:  Mahendra Mohan Gupta – Chairman and Managing Director
  
Vendor:  Jagran Media Network Private Limited
Vendor Web:  http://www.jplcorp.in 
Location:  India, Kanpur
Region:  Asia
Description:  Jagran Media Network Private Limited will be the promoter holding company of Jagran Prakashan Ltd. (JPL). The group’s flagship brand, Dainik Jagran, was launched during the Quit India movement in 1942 by the revolutionary freedom fighter Late Shri Puran Chandra Gupta, with a vision to “Create a newspaper that would reflect the free voice of the people”. Today, Dainik Jagran has the widest footprints within print media in India, and prints out of 11 states – Uttar Pradesh, Uttaranchal, Punjab, Haryana, Bihar, Jharkhand, Himachal Pradesh, Madhya Pradesh, Delhi, Jammu & Kashmir and West Bengal. JPL’s other interests are across its other newspaper titles – I Next and CityPlus, its outdoor advertising arm below the line solutions, mobile value added services, and its internet foray with Yahoo India, with Jagran.com being the largest portal across all Indian languages.
Category: Newspaper, Media
Contact:  Mahendra Mohan Gupta – Chairman and Managing Director
 
Link: Press Release 
 
 
FDN Database Reference:  F231109-382
 
Contact us at pkelly@fusioncorp.co.uk or visit the Fusion Corporate Partners website

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Wigix acquires magazine subscription business Mag2U

April 7, 2010 — Fusion DigiNet

Wigix, Inc. has acquired a Shanghai-based Mag2U, to enhance DDKU’s growing internet presence as well as provide a multi-channel marketing network to acquire, retain and service customers in China. DDKU, a web-based community driven marketplace and wholly owned subsidiary of Wigix, will merge operations with Mag2U.

Mag2U, a privately held company, is the largest magazine subscription processor in China currently with operations in Shanghai and Hangzhou.

Aprox. Value:  Undisclosed
 
Acquirer:  Wigix
ACQ Web:  http://www.wigix.com
Location:  Oakland, CA
Region:  North America
Description:  A catalog of all products, a listing of who owns them and what they are worth by leveraging an innovative, open, and highly scalable community-driven process. Wigix’s catalog has over three million unique items and is structured to allow buyers and sellers to easily find specific products and avoid the common problem of multiple listings that exist on other sites. Wigax  is funded by venture capital firm, Draper Fisher Jurvetson.
Category:  
Contact 1:  James Chong, CEO, President and Chairman 
Contact 2:  Bob Lee, Founder, CTO & Vice President of Engineering
Contact 3:  Albert Loh, Founder, CFO & Vice President of Operations
Contact 4:  Tim Draper, Founder and Managing Director, Draper Fisher Jurvetson
 
Vendor:  Mag2U 
Location:  China, Shanghai
Region:  Asia
Description:  Process outsourcing company, and the largest magazine subscription processor in China currently with operations in Shanghai and Hangzhou.
Category: Outsourcing, Publishing Service Provider
 
Link: Press Release

FDN Database Reference:  F231109-378

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

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Perfect World to acquire online games operator C&C Media

March 30, 2010 — Fusion DigiNet

The Fusion Team have completed over 70 digital and media transactions for its private, corporate and private equity clients. For more information contact pkelly@fusioncorp.co.uk or visit our website 
 

ACQUISITION 
FDN Database Reference:  F231109-370
 
Perfect World (Nasdaq: PWRD), a leading online game developer and operator based in China, is to acquire 100% equity interest in C&C Media, a Japanese online game operator from ATLUS, a Japanese computer and video game developer, publisher, and distributor and other shareholders of C&C Media.
 
Aprox. Value:  $21,000,000
 
Acquirer:  Perfect World
ACQ Web:  http://www.pwrd.com  
Location:  China, Beijing
Region:  Asia
Description:  Online game developer and operator based in China. The Company’s current portfolio of self-developed online games includes massively multiplayer online role playing games (“MMORPGs”): “Perfect World,” “Legend of Martial Arts,” “Perfect World II,” “Zhu Xian,” “Chi Bi,” “Pocketpet Journey West,” “Battle of the Immortals” and “Fantasy Zhu Xian;” and an online casual game: “Hot Dance Party.
Category:  Online games
Contact:  Michael Chi, Chairman and Chief Executive Officer 
 
Vendor:  ATLUS
Vendor Web:  http://www.atlus.com
Business Sold: C&C Media
Website: http://www.cc-media.co.jp
Description:  Online game portal site “MK-STYLE,” Mainly its own titles. 
Category: Online Games
Contact:  Kensuke Chikaishi, CEO
 
Link: Press Release

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The9 Limited acquires a majority interest in Red 5 Studios

March 24, 2010 — Fusion DigiNet

The Fusion Team have completed over 70 digital and media transactions for its private, corporate and private equity clients. For more information contact pkelly@fusioncorp.co.uk or visit our website
 
 
ACQUISITION 
FDN Database Reference:  F231109-362
 
 
The9 Limited (Nasdaq: NCTY), an online game developer and operator in China, is to invest a total amount of approximately US$20 million for a majority interest Red 5 Studios, Inc., an online game developer in the United States.
 
Aprox. Value:  Approximately US$20 million for a majority
 
Acquirer:  The9 Limited
ACQ Web:  http://www.the9.com/en/ 
Location:  China, Shanghai
Region:  Asia
Description:  Online game operator and developer in China. The business is primarily focused on developing and operating games for the online game market. The9 Limited directly, or through affiliates, operates licensed MMORPGs and advanced casual games including Soul of The Ultimate Nation, Granado Espada, EA SPORTS FIFA Online 2 and Atlantica, as well as its proprietary games World of Fighter and Jiu Zhou Zhan Ji, in mainland China.
Category:  Online games
Contact:  Mr. Jun Zhu, Chairman and Chief Executive Officer 
 
Vendor:  Red 5 Studios
Vendor Web:  http://www.red5studios.com/ 
Location:  USA, Irvine, CA
Region:  North America
Description:  Online game developer located in California, formed in 2006 by former executives and developers from Blizzard Entertainment.
Category: Online games
Contact:  Mark Kern, Chief Executive Officer 
 
Link: Press Release

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Baidu’s online video company to receive $50M investment from Providence Equity Partners

February 26, 2010 — Fusion DigiNet

The Fusion Team have completed over 70 digital and media transactions for its private, corporate and private equity clients. For more information contact pkelly@fusioncorp.co.uk or visit our website
 
 
FUND RAISING 
Database Reference:  F231109-354
 
Business:  Baidu
Web:  http://www.baidu.com
Other Web Links: http://www.qiyi.com
Location:  China, Beijing
Region:  Asia
Business description:  Baidu, Inc. is the leading Chinese language Internet search provider. In addition to serving individual Internet search users, Baidu provides a platform for businesses to reach potential customers. Baidu’s ADSs, each of which represents one Class A ordinary share, are currently trading on the NASDAQ Global Select Market under the symbol “BIDU.”
Category: Search, Video
Contact:  Robin Li, Chief Executive Officer

Investors:  Providence Equity Partners
Contact:  Jonathan Nelson, Chief Executive Officer of Providence 
 
Amount raised:  $50,000,000
 
Details:  Baidu, Inc. (Nasdaq: BIDU) has  announced that Baidu and Providence Equity Partners (“Providence”) have signed an agreement pursuant to which Providence will invest $50 million in Baidu’s new online video company to develop an advertising supported online video business providing premium licensed content in China. Baidu will continue to maintain majority ownership in the company. The new online video company has registered http://www.qiyi.com as its domain name.

Link:  Press Release

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