Oil co. Terralliance finds funds despite risky business
Oil and gas exploration company Terralliance has raised an undisclosed amount of funding mostly from existing investors, despite reports that it squandered almost $300 million in capital on questionable purchases — Russian jets not least among them — before laying off more than half of its employees.
The company is not taking money from just anyone, either, naming Kleiner Perkins Caufield & Byers, Goldman Sachs and Passport Capital among its backers. It has raised $450 million… Continue Reading
Chinese online game site 9You pulls in $100M — headed toward IPO?
Chinese online gaming and music site 9You has taken a whopper round of $100 million from Temasek Holdings and other institutional investors, according to PaidContent.
9You is something of a portal, offering games in every category (casual, hardcore and mobile) as well as some social networking tools and an assortment of unrelated services. It reports having over 120 million registered users, a bit under half of the country’s entire internet population.
Many US casual gaming companies have… Continue Reading