Revolution Money nabs $42M from marquee firms
Payment-transfer platform Revolution Money just brought in $42 million from several major investment firms, including Goldman Sachs, Citigroup and Morgan Stanley – not to mention a few high-profile individuals like AOL co-founder Steve Case, former Charles Schwab chief executive David Pottruck and former JP Morgan vice chairman David Golden. With this backing, Revolution is poised to chip away at the big boy credit card companies like Visa and Mastercard, as well as competing online services… Continue Reading
Revolution Money raises $50M to take on PayPal, upend credit card industry
Revolution Money, a new company backed by former AOL chief executive Steve Case, has launched a free online money transfer service to compete with PayPal. It has landed $50 million in a second round of funding.
The service is designed to be used on fast-growing instant messaging services such as AOL’s AIM and other social networking sites, and could appeal to younger users who balk at PayPal’s fees.
The Largo, Florida company is also offering a credit… Continue Reading
Extend Health raises $15M for “defined contribution” health plans
Extend Health, a Burlingame, Calif., provider of “defined contribution” health plans designed to cut costs for business, raised $15 million in a second funding round. Investors included Psilos Group Partners and Revolution Health Group.
Although it’s not all that obvious from its release or its Web site exactly what Extend Health does, the phrase “defined contribution” is a big clue. Most health-insurance plans today are “defined benefit” plans — you or your employer (or both) pay… Continue Reading
Brenco, sugar ethanol company, raises $200M
A San Paulo, Brazil ethanol company, Brenco, has raised $200 million in financing from investors including big-name U.S. investors such as Vinod Khosla, supermarket magnate Ron Burkle and AOL co-founder Steve Case.
The new company, aims to become one of the largest ethanol producers in the world, apparently wanting to reach an annual output of 1 billion gallons within ten years, according to Dow Jones.
Brazi’s sugar-based ethanol is more efficient than the corn-based ethanol produced in… Continue Reading
Widget company, Clearspring, says it leads market, and raises $5.5M
Clearspring, a company in Arlington, Virginia that provides a way for content owners to syndicate and track their content through widgets placed on other Web sites, has raised $5.5 million in its second round of financing.
The round was led by Phil Bronner of Novak Biddle Venture Partners and Miles Gilburne of ZG Ventures, who also led Clearspring’s first round in 2006.
Additional investment was provided by Mark Jung, Steve Case and Ted Leonsis. Jung, who… Continue Reading
The healthcare “revolution” — controlling your records, insurance
A bevy of start-ups are emerging to give people new ways to liberate them from the control of powerful health insurance companies — it’s about time.
Typically, you go to a doctor, and the doctor keeps your records on file and you can’t access them. But now people are demanding more freedom and transparency, and start-ups are responding.
The latest is Revolution Health, the start-up formed several years ago by AOL co-founder Steve Case, but which has… Continue Reading