Advances Equities takes its investors on a bad trip
It’s no secret that there are plenty of cowboy outfits in the venture capital world, including scores that were started before the tech bust. But in the weightier circles of late-stage venture investment, there’s supposed to be less risk, and therefore fewer seat-of-the-pants operations. Which makes Advanced Equities, a Chicago firm fingered by Forbes in a recent expose, all the more notable.
AE is run by a pair of former stock brokers, Keith Daubenspeck and Dwight… Continue Reading
Roundup: Agami shuts down, Amazon’s new book-site collection, and more
Toyota working on Segway killer — The transportation robot is called Winglet and comes in three sizes. See screenshot, via ZDnet.
Network storage company Agami shuts down — The Sunnyvale, Calif. company raised $85 million and competed against companies that went public, including 3Par. The shut-down was sudden, catching employees by surprise — apparently, a major debt-holder wanted its money back.
Illinois mandates online cancellation for game subscriptions — An Illinois family found it difficult to cancel a recurring online… Continue Reading
Agami raising $50 million — for yet another storage company
Agami, a Silicon Valley storage company with high-profile venture backing, is doing what any self-respecting company in the sector should do these days: Raise a large amount of money before the opportunity melts away.
The company confirmed to VentureBeat that it is negotiating to raise up another round of venture capital, with regulatory filings suggesting it could as much as $50 million. The company hasn’t completed the round yet. The company competes against an array of… Continue Reading