Luisa Beltran
You voted and it’s not clear whether VCs will get hurt by SecondMarket’s plans.
Earlier this week, peHUB reported that SecondMarket is considering launching a platform to let private companies bypass VC firms and sell shares directly to individual investors. We asked you yesterday whether you think this will hurt VCs.
Michael McConnell has joined U.S. Capital Advisors as an MD. McConnell will focus on working with energy entrepreneurs.
MobPartner has closed a $3.5 million first round of funding from Alven Capital and Newfund. MobPartner’s platform lets advertisers pay for a defined action like sales, registration or downloads.
BaseKit has raised $6.5 million in VC funding from Nauta Capital, Eden Ventures and the National Endowment for Science, Technology and the Arts. BaseKit, an online website design and hosting service, has received a combined $10 million in funding during the past year.
SoundCure has closed a $3 million round of funding led by Allied Minds. SoundCure is developing an acoustic therapy to treat tinnitus.
Cascadia Capital said Wednesday that it advised Plasco Energy Group in its $143 million in growth equity financing. Last week, Soros Fund Management led the investment for Ottawa-based Plasco, which provides technology that transforms solid waste into green power.
Zipcar, the car sharing service backed by Benchmark Capital and Greylock Partners, set the price range for its expected IPO.
Cambridge, Mass.-based Zipcar plans to sell 8.3 million shares at $14 to $16 each, according to a March 30 regulatory filing. Zipcar is offering about 6.7 million shares while selling stockholders are offering another 1.66 million shares. Zipcar plans to trade under the ticker symbol "ZIP" on the Nasdaq. The underwriters have the option to buy another 1.25 million shares.
Small companies in the IPO market turned out to be a contentious subject.
Yesterday, we asked you whether small firms—those with less than $200million in revenue—are shut out of the IPO market. Nearly two-thirds, or 65.4%, agreed that these companies are kept out of the new issues market.
Shutterfly has agreed to buy Tiny Prints. The deal includes $141 million in cash and roughly 3.9 million shares of Shutterlfy stock. Tiny Prints, of Sunnyvale, Calif., provides cards, invitations, personalized stationery and photo books. Tiny Prints has reportedly received funding from Technology Crossover Ventures and Summit Partners.
STELLAService has raised $2 million in early stage funding led by Battery Ventures and DFJ Gotham Ventures. RRE Ventures, Consigliere Brand Capital, Doug Lebda, Mark Wachen and other angel investors also participated. New York-based STELLAService is a customer service ratings provider for online retailers.