Simply Hired hits profitability with new $4.6M
Simply Hired, a job listing search engine based in the Silicon Valley, announced today that it has crossed into profitability with a new $4.6 million in fourth-round capital from IDG Ventures and Foundation Capital. The company is also marking four consecutive quarters of positive cash flow.
Simply Hired says it plans to use the funds to expand its global presence, making it one of the top job databanks in the business. It will also grow its… Continue Reading
Jingle Networks keys up $7.5M for directory assistance
Jingle Networks, the company that operates national telephone directory assistance (1-800-FREE-411), landed $7.5 million in a fourth round of funding, according to VentureWire. The Menlo Park, Calif. firm will add this sum to the $75 million in capital it previously raised from Goldman Sachs, Hearst, IDG Ventures, Liberty Associated Partners and Comcast Interactive Capital. First Round Capital joined for the recent round.
Jingle Networks operates through voice-recognition software that breaks down callers’ queries. It brings in… Continue Reading
Social ad network Social Media gets funding boost, after strong year
Updated
Social Media, a new-fangled advertising network for applications on Facebook and other “social media” sites, has raised a second round of $6 million from IDG Ventures and existing investor Charles River Ventures.
While some have been skeptical of the value of advertising within social networks, Social Media says it brought in between $15 and $20 million in revenue last year, mainly due to successful sales in the last six months. The company has focused on selling… Continue Reading
Quova lets websites know where you are
Geolocation software developer Quova launched its new On-Demand service today, providing websites with the ability to pinpoint their users’ locations, and use this data to customize their content and applications.
The Mountain View, Calif. company gives businesses the tools they need to help their users find local information (weather and nearby stores, for example) on their websites. Quova says the technology could also come in handy in checking out potential fraud by giving e-commerce sites the… Continue Reading
In a first, China removes profit repatriation tax for U.S. investor
For the first time, the Chinese government has exempted a U.S. venture firm from having to pay a hefty 10 percent withholding tax for repatriating profits, in a major move that could spur another major wave of U.S. investment in China.
Patrick McGovern (pictured here), head of IDG Ventures, the venture arm of major publishing group International Data Group (IDG), disclosed the Chinese move in a recent interview with VentureBeat. He said the Chinese government made… Continue Reading
Free 411 service Jingle raises $13M
Jingle Networks, a provider of free telephone directory services, has raised $13 million in a third round of funding, according to VentureWire.
The service, called “1-800-FREE-411″, is pretty simple, and it’s completely automated: You dial a number, listen to an ad and then get the information you need. The Boston-based company has signed up around 150,000 advertisers.
When we covered Jingle back in 2006, the startup had just raised $30 million to build out its network —… Continue Reading
How do you manage packs of proud VCs globally? You don’t, unless you’re IDG or DFJ
Many venture capitalists think of themselves as romantic swashbucklers, mixing raw intelligence with their bulging money purse to skillfully create companies of huge worth. Many of them are lone wolves that gather in regional packs because it’s more convenient.
So how do you harness of a group of these fiercely proud packs across the globe? How do you keep them loyal to your empire’s headquarters here in the U.S.? Answer: You don’t, unless you’re a bit… Continue Reading
Vaultus Mobile Technologies gets $6M for mobile application access
Vaultus Mobile Technologies is a software startup that helps businesses create mobile versions of their existing applications, allowing their employees to keep using them over their smartphones or other devices.
The company has several pre-packaged offerings that extend apps like sales and field services software onto phones, in a secure environment. Its customers include some big names including Merrill Lynch, Wachovia and Procter & Gamble.
The $6 million funding was led by Point Judith Capital, while existing… Continue Reading
Life sciences briefing: Wednesday, Jan. 16, 2008
TODAY’S HEADLINES:
Drug-screening tool maker IonGate Bio raises €4.6M (release)
Protein-drug maker Molecular Partners gets $5M up front in Centocor deal (PDF release)
ProtaGen takes in €1M for protein biochips (PDF release)
China’s Sundia MediTech, a contract research organization raises second round (release)
Vital-signs implant maker Transoma Medical sets IPO terms, aims for $78M (Edgar)
UMD receives $1M grant for Baltimore biotech incubator (TechJournal South)
Drug-screening tool maker IonGate Bio raises €4.6M — IonGate Biosciences, a Frankfurt, Germany, developer of tools for… Continue Reading
Mobivox raises $11M for yet another VoIP service
IDG Ventures Boston has led an $11 million first round of investment into Montreal, Canada company Mobivox, just the latest Internet telephone company that lets members make cheap or free phone calls around the world.
It lets members make calls to a number of countries free and other countries at around 2 cents, similar to services like Skype and Jajah.
You go to the company’s Web site, and it gives you a local access number. A voice… Continue Reading
Telltale raises $6 million to blow up retail games model
Telltale, the San Rafael, Calif. company that makes interactive games, including Sam & Max, has raised $6 million in a second round of financing.
The three year old company is already profitable, having pursued a strategy of making games much more rapidly and cheaply than the large game producers such as Electronic Arts. Rather than trying to produce blockbusters games costing in the millions of dollars, Telltale seeks to make games in episodes (the popular Sam… Continue Reading
Zing, the wireless music download service for digital players, raises $12.5M
Zing Systems, a Mountain View, Calif. company that provides wireless download access for mp3 or digital players, has secured $12.5 million of a planned $13.41 million third-round of funding, according to a regulatory filing cited by PE Wire.
IDG Ventures Boston was joined by return backer Redpoint Ventures.
We covered the company’s launch here. Although Zing doesn’t solve the wireless download problem for iPod owners, it does it for other mp3 or digital players. Founded… Continue Reading
Mapbar, Chinese maping company, raises $10M
Mapbar, a Beijing mapping and local search company, has raised a total of about $10 million from venture capital firms IDG Ventures and WI Harper in two rounds.
The news was first reported by China Web2.0Review.
WI Harper led the second round of $5 million, with existing investor IDG participating. IDG invested led the first round in 2005
Currently, Baidu’s map search service is powered by Mapbar. Mapbar’s competitors include Go2map from Sohu, Mapabc who powered local search… Continue Reading
MySpace prepares ground campaign for China, carefully
MySpace is negotiating its entry into China with a venture capital group and a former China Netcom Group exec, according to the WSJ (sub required), a sign that it is relying on local help to avoid the expensive mistakes made by other U.S. companies in China.
The report said the Rupert Murdoch, chairman of MySpace owner News Corp., is sending his wife Wendi Deng (pictured above) to plan MySpace’s entry into the world’s most populous nation,… 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
IDG to open new SF-based venture capital firm
Pat McGovern, chairman of the global media company IDG, said IDG will probably invest in a new San Francisco-based venture capital firm focused on local investments.
IDG has several regional venture funds, including China, Vietnam and Boston, and this latest effort in San Francisco will be IDG’s second fund effort here. However, there has been a reshuffling, and this new fund will be run by a new team. McGovern said IDG will invest about 10 percent… Continue Reading