Beijing-based Renren, a Chinese social networking internet platform has announced the acquisition of online video sharing site 56.com. The value of the acquisition will be $80 million and is expected to complete in the fourth quarter of 2011. Since inception, 56.com has received venture backing from firms including Sequoia Capital, Steamboat Ventures, CID Group, and SIG.
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Zenverge Inc., the California-based multimedia solutions company, has completed a $20.5 million Series D round led by strategic investor Entropic Communications. New investors CID Group and the Woodside Fund also participated in the round. Other investors, including DCM, Norwest Venture Partners, Motorola Mobility Ventures, and Battery Ventures, also participated in the funding. Patrick Henry, president and CEO of Entropic Communications, to its board of directors.
The strategic investment arm of Motorola Mobility — which Google is acquiring for $12.5 billion –has invested an undisclosed amount in Ooyala, a Mountain View, Calif.-based online video management and analytics startup. Motorola Mobility Ventures is based in Libertyville, Ill. Almost exactly a year ago, Ooyala announced a $22 million Series D round, led by [...]
Crown Bioscience Inc. closed a Series C financing round at $28.8 million. OrbiMed Advisors Caduceus Asia Partners Fund, Argonaut Private Equity, the CID Group, IBT and CDIB Capital Investment led the round. Existing shareholders Qiming Venture Partners and CRCI also participated.Crown Bioscience plans to use proceeds to expand services in integrated cancer drug discovery and translational oncology, as well as to fund new initiatives in other therapeutic areas. Crown Bioscience is a Santa Clara, Calif.-based company involved in oncology research and development partnership and services.
Ooyala Inc., a Mountain View, Calif.-based provider of video platform applications and services, has raised more than $22 million in a round of financing from new and existing investors. CID Group and ITOCHU Technology Ventures led the round. Current investors (Sierra Ventures and Rembrandt Venture Partners) also participated. Ooyala has raised a total of $42 million. Ooyala expects a second closing within the next 60 days.