Bob Simon dead

peHUB First Read

First Read kicks off your morning with news of United Airlines accidentally selling first class tickets for as low as $44 and then refuses to honor them, Microsoft reportedly buys digital pen maker N-Trig and veteran CBS correspondent Bob Simon dies in a car crash in New York City.


Mike Cahill rejoins VC-backed Boku as CTO

Boku has hired Mike Cahill as chief technology officer. Previously, Cahill worked at American Express where he was vice president of mobile engineering. And, prior to that, Cahill was Boku’s vice president of engineering. Based in San Francisco, Boku is a carrier billing-based mobile payment company. It is backed by Andreessen Horowitz, Benchmark Capital, DAG Ventures, Index Ventures, Khosla Ventures and New Enterprise Associates.


SoftBank Capital leads $50 mln Series D funding in Bigcommerce

SoftBank Capital has led a $50 million Series D funding round in Bigcommerce, an e-commerce platform. Other investors in the funding round included Telstra Ventures and American Express, as well as existing investors General Catalyst and Revolution Growth. Steve Murray, a partner at SoftBank Capital, will join Bigcommerce’s board.


Real estate platform Urban Compass snags $40 mln Series B

New York City-based real estate platform Urban Compass has received $40 million in Series B funding. The investors included Thrive Capital, Founders Fund, .406 Ventures, CEO Marc Benioff, American Express CEO/Chairman Kenneth Chenault and Condé Nast parent company Advance Publications. According to the firm, the capital infusion will be used for growth and expansion as well as invest more in technology.


NGP leads $30 mln round for RetailNext

RetailNext, a San Jose, Calif. provider of retail analytics, said Tuesday that it has raised $30 million in funding. Nokia Growth Partners led the round with participation from Activant Capital Group, August Capital, StarVest Partners, Commerce Ventures, Qualcomm Ventures, Tyco and American Express.

Rent the Runway Fashions a Series C Round Add On

Rent the Runway, which rents designer clothes, shoes and accessories to users, has raised $4.4 million in additional Series C funding from American Express and Novel TMT Ventures. The company previously raised $20 million in Series C funding from Advance Publications, parent company of Condé Nast, Bain Capital Ventures, Highland Capital Partners and Kleiner Perkins Caufield & Byers.

Radius Closes $12.4 Mln Series B Round

Radius said Wednesday it completed a $12.4 million Series B funding round with participation from American Express. Certain existing investors, including Blue Run Ventures, also took part. San Francisco-based Radius provides sales and marketing data.

The Fancy Parent Company Thing Daemon Raises $26.38M

The Fancy’s parent company, Thing Daemon, has raised another $26.38 million, according to a filing with the Securities and Exchange Commission. The site, a fashion focused Pinterest competitor, had previously raised $10 million. American Express Vice Chairman Edward Gilligan is now listed as a Thing Daemon board member, the filing says.

Amex-Backed Payfone Hires Paul Tocatlian as VP of Engineering

New York-based Payfone, a remote payment processing service backed by American Express, Verizon, and Rogers Communications, among other investors, has appointed Paul Tocatlian as VP of Engineering. Prior to Payfone, Tocatlian was VP of engineering and customer support at Minerva Networks. He has also spent time at Navio Systems, Bytemobile, Propel Software, BEA Systems and Novell. PRESS […]

Payfone Recruits Top Execs

Payfone, a remote payment processing service backed by American Express, Verizon, Roger Communications and various venture capital firms has appointed four payment industry executives to its management team. The appointments have been made to fuel on-going growth and expertise in remote payments. PRESS RELEASE Payfone, a leading remote payment processing service backed by American Express, […]

Rearden Commerce Nets $133M, Buys

American Express, JPMorgan Chase and Citi joined together to provide Rearden Commerce, the e-retailer with $133 million in development capital, some of which was used to acquire, a daily deals site. Specifics of the acquisition were not publicized. Other Rearden include Vinod Khosla and Oak Investment Partners.

Serial Entrepreneur Josh Silverman Heads to American Express

Josh Silverman has just been named head of American Express’s U.S. consumer services unit, which manages consumer cards and travel services. A repeat entrepreneur who, at 41, has already made more career moves than most people in their lifetimes, Silverman is joining American Express from Greylock Partners, which brought him on as an entrepreneur-in-residence last […]


Payfone Inks $19M For Mobile Payments

Mobile payment start-up Payfone has added $19 million in strategic funding from American Express, Verizon Investments Inc., Rogers Ventures, and from existing shareholders Opus Capital, BlackBerry Partners Fund and RRE Ventures. The money is designed to help Payfone continue product development and global expansion. Formed in 2008, Payfone’s technology is designed to make mobile phones a preferred way to make online payments, opening up payment options to the non-credit-card world and bridging the gap in emerging markets, the company says.

AmEx Buys VC-backed Accertify For $150M

American Express will pay $150 million for venture capital-backed anti-fraud software company Accertify, Reuters reported. Accertify helps merchants prevent fraud on online purchases, and is backed by venture investor Intel Capital. The acquisition will close during the fourth quarter of 2010, Reuters reported.

Report: AmEx Teams with Permira for RBS Branch Bid

LONDON (Reuters) – American Express Co has teamed up with UK private equity firm Permira to bid for Royal Bank of Scotland’s payment-processing arm, the Financial Times reported in its Monday edition. French software firm Atos Origin has also joined the private equity consortium of CVC Capital Partners and Welsh Carson Anderson & Stowe to […]

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