Sonos Playbar 1

Sonos does a $130M secondary equity sale (update)

Update 12/3/2014: Sonos initially declined to comment about the Form D, but later clarified to say that the $130 million was done as a secondary equity sale — not a new funding round as initially reported. “The funding is just a secondary round strictly raised as a part of our ongoing liquidity program for employees not a new round of capital,” a Sonos spokesperson told VentureBeat.

control key

5 founder-friendly financing terms that give power to entrepreneurs

For many startups, the hot venture-capital and exit markets mean an increase in deal leverage when negotiating with venture investors. As a result, founder-favorable terms are increasingly a part of formation and financing documents where they wouldn’t have been just a year or two ago.

money

Social network Snowball Finance raises $40M from Renren and others

Snowball Finance (Xueqiu in Chinese), the Chinese finance-focused social media site, announced that the company has raised $40 million in Series C funding led by Renren Inc. and joined by existing investor MorningSide Ventures. The company raised a Series A funding of US$10 million last year, and $3.2 million in 2011.