China rising: Venture investments increase 47 percent in third quarter
Updated
The U.S. venture capital industry is seeing a slow and steady recovery.
China, however, is roaring like a dragon. Venture capital investments in mainland China companies rose 47 percent in the quarter, compared to the same quarter last year — and total investments for the year should shatter last year’s levels.
Venture capitalists pumped $361.1 million into 54 companies during the quarter, according to Ernst & Young and Dow Jones VentureOne.
Through the first three quarters of… Continue Reading
China Wars: Zhou fights back, says Alibaba’s Ma is desperate
Zhou Hongyi, chairman of Chinese search engine start-up Qihoo, defended himself Sunday against allegations that he may have embezzled from or defrauded Yahoo China before leaving that company last year.
In a phone interview, Zhou (pictured here) responded to VentureBeat’s article on Friday that reported Yahoo China is about to file a lawsuit against him. That article was based on an interview with a source close to Yahoo China familiar with the suit preparations.
Zhou dismissed news… Continue Reading
Jingle gets $30M to grow its free directory assistance service
(Updated below with comments from chief executive George Garrick)
Jingle Networks, a Menlo Park start-up which provides free phone directory assistance, has raised a whopping $30 million more in venture capital — upping the ante in what is now a crowded field.
This area has become popular because people find this an easy way to avoid the $1 to $3 they get charged using regular DA service.
Jingle, which markets itself as 1-800-Free-411, supports the free service by… Continue Reading
Chinese-U.S. spy wars in Silicon Valley; Are you safe?
FBI investigators want to charge two men for spying in Silicon Valley to benefit China, and they say it is just the tip of a massive effort by the Chinese government to set up front companies to do this sort of thing.
In the latest case, they say Lan Lee, an American citizen, and Yoefei Ge, a Chinese national, stole chip designs and software from their employers NetLogic Microsystems of Mountain View and Taiwan Semiconductor… Continue Reading