The Daily Start-Up: How Does $33M Feel? JustFabulous - Wall Street Journal (blog)
Top stories in today's VentureWire:
Fashion brand and retail site JustFabulous is spinning out with $33 million and fresh leadership from fashion maven Kimora Lee Simmons, who will be president and creative director of the company. "We've had our eyes on Kimora since day one. She's a very credible and a strong force in the fashion industry," said Adam Goldenberg of Intelligent Beauty Inc., which incubated the company.
GrubHub Inc. raised $50 million to gobble up competitor Dotmenu Inc. and better allow mobile phone users across the nation to order take-out food with a click. The Series E round comes just six months after the Chicago-based company raised $20 million in a pre-emptive funding blitz that valued the company at more than $120 million pre-money.
Also in today's VentureWire: Advertising technology company Adchemy Inc. has raised a $61 million Series E round, partly from Microsoft Corp., for advertising technology it says moves beyond the keyword and focuses on consumer intent…venture debt firm Lighthouse Capital Partners is marketing its seventh fund with an aim to raise $275 million, VentureWire has learned…and network security company Solera Networks Inc. said Gordon Eubanks, former chief executive of Symantec Corp. and Oblix Inc., has joined its board.
(VentureWire is a daily newsletter with comprehensive analysis of all the investments, deals and personnel moves involving start-ups and their venture backers. For a two-week trial, click here.)
Elsewhere around the Web:
Google broadened its assault on Facebook, opening its Google+ social network to the public. Wired looks at some of service's new features. Meanwhile, Google rivals Nextag, Yelp and Expedia gear up to challenge Google on Capitol Hill, contending the company is punishing them on its search engine.
Life sciences investor Third Rock Ventures has a new entrepreneur in residence, Keith Dionne, who was CEO of Surface Logix and Alantos Pharmaceuticals.
Some of the $100 million that Facebook founder Mark Zuckerberg donated to the Newark school system will go directly to teachers, The Wall Street Journal reports. The foundation that manages the gift is to announce a two-year, $600,000 program that will award $10,000 grants to teachers who develop innovative classroom programs.
TechStars, a Boulder, Colo.-based technology incubator, has raised a new $24 million fund from investors who include venture firms. The fresh capital will enable it to provide a $100,000 convertible note to each company accepted into the program
21 Sep, 2011--
Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFYKxQtEFk80SkEsh1nfwD4--jVaQ&url=http://blogs.wsj.com/venturecapital/2011/09/21/the-daily-start-up-how-does-33m-feel-justfabulous/
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