Prediwave: Another China-Silicon Valley tale
Notable story in the NYT last week about how Fremont video-on-demand company, Prediwave swallowed $700 million in investments from China’s New World Development, and how NWD is now suing. In most cases, investors here have been scathing of China’s refusal to protect intellectual property (indeed, during our Silicom Ventures panel last week, it was Navin Chaddha, of Gabriel Venture Partners, who stole the show, in passion at least, on exactly this theme). But here’s a case where China is coming after a U.S. company, albeit not for IP infringement:
It will be the first time, experts say, that allegations on this scale of fraud and misappropriation of funds involving China’s exploding economy will be presented in a United States courtroom.
Next Story: Watching kozoru
Previous Story: Is VSP Capital falling apart?
About the Author, Matt Marshall
Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.
