Mobvoi, which makes the mobile voice search service Chumen Wenwen, received nearly $10 million of Series B financing led by SIG. The company had previously received $1.6 million of Series A funding from Sequoia Capital and ZhenFund in 2012.
With more than four million members, China has quickly become one of the fastest growing countries for LinkedIn. This week, Linkedin announce the launch of its beta site in Simplified Chinese. The new Simplified Chinese website will broaden its reach to the country’s more than 140 million professionals who currently represent roughly one in five of the world’s knowledge workers.
Retailer Target India has launched the Target Accelerator Program to help start-ups develop concepts that could improve Target's business. The four-month immersive program is aimed at helping start-ups develop their ideas at Target India’s office. The five start-ups which have been identified for this program include:
IBM today announced it will acquire Boston, MA-based Cloudant, a privately held database-as-a-service (DBaaS) provider that enables developers to easily and quickly create mobile and web apps. Mobile device usage is proliferating rapidly worldwide, creating a surging demand for apps.
Renaissance Learning, a K12 assessment and learning analytics company with a presence in more than a third of U.S. schools, announced a minority investment from Google Capital at a company valuation of $1 billion. Google Capital was formed in 2013, and its investments to date include SurveyMonkey and Lending Club. This marks Google Capital's first investment in education. The investment follows the October 2011 acquisition of Renaissance by funds advised by the private equity firm Permira and makes Google a minority owner of the company.
Mayfield announced the closing of a $108 million venture capital fund, Mayfield India II, its second dedicated India fund. Mayfield India II is managed by Mayfield India II Management, including members Navin Chaddha, Vikram Godse, and James Beck, and advised by MF Advisors, including member Nikhil Khattau.
King intends to list its ordinary shares on the New York Stock Exchange under the ticker symbol "KING." The company earned $1.9 billion in revenues in 2013 with EBITDA of $825 million, mainly due to its Candy Crush game.
For calendar year 2013, Activision Blizzard delivered GAAP net revenues of $4.58 billion, as compared with $4.86 billion for 2012. On a non-GAAP basis, the company’s net revenues were $4.34 billion, as compared with $4.99 billion for 2012. For the calendar year 2013, revenues from digital channels were $1.56 billion and represented 34% of the company’s total revenues.
KongZhong Corporation (NASDAQ: KONG), a digital entertainment company inChina, announced it has entered into definitive agreements to acquire a minority interest in Ourgame International Holdings Limited ("Ourgame" also known as "LianZhong") for a total consideration of RMB 100.0 mn in cash (US$16.5 million at current exchange rates). The board of directors of the Company has approved the transaction, which is set to close before the end of February 2014.