Ericsson has acquired BelAir Networks, a North American carrier-grade Wi-Fi company. Investors in BelAir Networks include Export Development Canada, Wellington Financial, BDC Venture Capital, Comcast Interactive Capital, McLean Watson, MMV Financial, Panorama Capital, T-Mobile Venture Fund, Trilogy Equity Partners, VenGrowth Capital Partners and Ventures West Management. PRESS RELEASE Ericsson (NASDAQ:ERIC) today announces the completion of [...]
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Daily deals site Groupon has acquired Pelago, the venture-backed creator of the location-based application Whrrl, the companies announced on their respective blogs. Financial terms of the deal were not released. Pelago’s Whrrl service will be retired at the end of April, the companies said. Pelago was reportedly backed by more than $20 million from Kleiner Perkins Caufield & Byers, T-Venture, Trilogy Equity Partners, Bezos Expeditions, DAG, and Reliance Technology Ventures.
Pelago has the distinction of being the first company to raise money in 2008 from the iFund, the Kleiner Perkins fund that backs products that run on the iPhone, iTouch and iPad. What’s remarkable about that is that the Seattle-based company was initially seeded by individual investors in 2006, a year before Apple’s iPhone was [...]