Redfin employees see pink in 20 percent layoff
Online real estate service Redfin Corp. slashed its staff by 20 percent yesterday in order to stay afloat during the economic downturn — despite strong revenue and $21 million in VC backing from Draper Fisher Jurvetson, Madrona Venture Group, Vulcan Capital, BEV Capital and the Hillman Co.
The Seattle-based firm, which helps buyers find homes for sale and broker deals, was hit hard by the credit crunch in recent weeks. In addition to a 30 percent… Continue Reading
The FeedRoom raises $12M more for online video
The FeedRoom, which provides web video technology for media companies, corporations and government agencies, has raised an additional $12 million of financing. The round was led by NewSpring Capital, with participation from existing investors BEV Capital and Velocity Equity Partners.
It’s a pretty venerable company, having been around for 10 years, but chief executive Mark Portu shook things up a bit last year when he took over and started building a new leadership team. The New… Continue Reading
Life sciences briefing: Wednesday, Sept. 26, 2007
Featured companies: Ablynx, Cardiosolutions, Carigent Thereapeutics, Elusys, Genome Corp., GlobeImmune, Novazone, Targanta Therapeutics, Waterfront Media
UPDATED at 5:45am on 9/27/07
GlobeImmune raises $41M for immune-system therapies — GlobeImmune, a Louisville, Colo., biotech focused on new forms of immunotherapy to treat viral infections and cancer, raised $41.2 million in a third funding round. Investors included Wexford Capital, Celgene, the Mellon Family Investment Company, the Richard King Mellon Foundation, Eminent Venture Capital, Boston Life Science Venture, WRF Capital, HealthCare Ventures,… Continue Reading
Redfin cuts out real estate agents, raises another $12M
[Note: This story was originally published Tuesday evening, but a software bug caused it to disappear. We're publishing again]
Updated
Redfin is one of the more controversial web companies trying to make home buying and selling more profitable. Specifically, it’s cutting out real estate agents.
Eager to do more cutting, it has raised another $12 million, led by venture firm Draper Fisher Jurvetson. It is expanding its listings from most West Coast cities and Boston, now adding the… Continue Reading