Homepage / Technology / Top VC deals: Jaguar backs robo-taxis, Google buys Redux, Celgene buys new cancer drugs
Amazon says this Prime Day was its biggest shopping event ever Kudlow says President Trump is 'so dissatisfied' with China trade talks that he is keeping the pressure on As stocks regain their footing, an ominous warning looms Goldman Sachs downgrades Clorox to sell, says valuation is 'unsustainably high' How Satya Nadella has spurred a tripling of Microsoft's stock price in just over four years Kudlow says economic growth could top 4% for 'a quarter or two,' more tax cuts could be coming The one chart that explains Netflix’s stunning comeback US housing starts plunge 12% in June to a nine-month low Aerospace titans Boeing and Airbus top $110 billion in orders at Farnborough Target uses Prime Day to its advantage, logging its 'biggest online shopping day' so far this year Billionaire Marc Lasry sees bitcoin reaching up to $40,000 as it becomes more mainstream and easier to trade These are the 10 US airports where you're most likely to be hacked Amazon shares slightly higher as investors await Prime Day results Wreck of Russian warship found, believed to hold gold worth $130 billion A bullish ‘phenomenon’ in bond market is weeks away from fading, top credit strategist says Stocks making the biggest moves premarket: MS, GOOGL, TXN, UAL, NFLX & more Twitter shares up 50% since late April means most upside priced in, analyst says in downgrade EU fines Google $5 billion over Android antitrust abuse Mortgage applications fall 2.5% as buyers struggle to find affordable homes America may not have the tools to counter the next financial crisis, warn Bernanke, Geithner and Paulson Investors are getting spooked as the risk of a no-deal Brexit rises EU expected to fine Google $5 billion over Android antitrust abuse Ex-FBI chief James Comey urges Americans to vote for Democrats in midterm elections Elon Musk apologizes to British cave diver following baseless 'pedo guy' claim Disney, Comcast and Fox: All you need to know about one of the biggest media battles ever Xiaomi shares notch new high after Hong Kong, mainland China stock exchanges reach agreement The trade war is complicating China's efforts to fix its economy European markets set for a strong open amid earnings; Google in focus Hedge fund billionaire Einhorn places sixth in major poker tournament The biggest spender of political ads on Facebook? President Trump Asian stocks poised to gain after Fed's Powell gives upbeat comments; dollar firmer Stocks are setting up to break to new highs Not all FAANG stocks are created equal EU ruling may be too little, too late to stop Google's mobile dominance Cramer explains how Netflix's stock managed to taper its drop after disappointing on earnings Airbnb condemns New York City's 'bellhop politics,' threatens legal retaliation Amazon sellers say they were unfairly suspended right before Prime Day, and now have two bad choices Investor explains why 'duller' tech stocks can have better returns than 'high-flying' tech names Elon Musk is 'thin-skinned and short-tempered,' says tech VC Texas Instruments CEO Brian Crutcher resigns for violating code of conduct Google Cloud Platform fixes issues that took down Spotify, Snapchat and other popular sites Uber exec: We want to become the 'one stop' transportation app 'What a dumb hearing,' says Democrat as Congress grills tech companies on conservative bias Amazon shares rebound, report says Prime Day sales jumped 89 percent in first 12 hours of the event How to put your medical history on your iPhone in less than 5 minutes Investment chief: Watch these two big events in 2018 Even with Netflix slowing, the market rally is likely not over Cramer: Netflix subscriber weakness debunks the 'sky's the limit' theory on the stock Netflix is looking at watch time as a new area of growth, but the competition is stiff Why Nobel laureate Richard Thaler follows Warren Buffett's advice to avoid bitcoin Rolls-Royce is developing tiny 'cockroach' robots to crawl in and fix airplane engines After Netflix plunge, Wall Street analysts forecast just tame returns ahead for the once high-flying FANG group Roku shares rise after analyst raises streaming video company's price target due to customer growth China is investing 9 times more into Europe than into North America, report reveals Amazon says US Prime Day sales 'so far bigger than ever' as glitch is resolved Netflix is on pace for its worst day in two years US lumber producers see huge opportunity, rush to expand San Francisco to consider tax on companies to help homeless Homebuilder sentiment, still high, stalls as tariffs, labor and land drive up costs Powell backs more rate hikes as economy growing 'considerably stronger' Netflix history is filled with big stock declines – like today – followed by bigger rebounds Intel shares get downgraded by Evercore ISI due to rising competition from Nvidia, AMD Petco aims to reinvent the pet store with something you can't buy online Genetic testing is coming of age, but for consumers it's buyer beware Tech 'FAANG' was the most-crowded trade in the world heading into the Netflix implosion, survey shows Netflix weak subscriber growth may indicate a 'maturity wall' that could whack the stock even more: Analyst This chart may be predicting the bull market's demise Wall Street says Netflix's stock plunge is a ‘compelling’ buying opportunity because the streaming giant ‘never misses twice’ Tesla sinks after Musk tweets, again Boeing announces new division devoted to flying taxis Stocks making the biggest move premarket: NFLX, UNH, GS, AMZN, WMT & more Deutsche Bank downgrades Netflix, but says big subscriber miss is not 'thesis changing' IBM is experimenting with a cryptocurrency that’s pegged to the US dollar North Korea and Zimbabwe: A friendship explained Virgin Galactic spinoff Orbit to launch rockets from the UK with space deal Artificial intelligence will create more jobs than it destroys? That’s what PwC says ‘Treasonous’ Trump and ‘Putin’s poodle:' Scathing headlines follow the Trump-Putin summit China’s fintech companies offer ‘enormous’ opportunity, investment manager says Trump's performance at summit with Putin was 'unprecedented,' experts say Walmart and Microsoft link up on cloud technology as they both battle Amazon European stocks seen mixed amid earnings; Fed’s Powell to address Congress How I knew I should quit my day job and run my start-up full-time: Viral website founder China's stocks have been trounced, but the trade war may ultimately be good news for those shares Billionaire tech investor Peter Thiel bets on crypto start-up Block.one Asian shares subdued open after mixed close on Wall Street; energy stocks under pressure Amazon cloud hits snags after Amazon Prime Day downtime Netflix isn't doomed by one quarter unless people start questioning the long-term investor thesis Tech stocks set to sink on Tuesday after rough evening for ‘FANG’ Netflix plummets after missing big on subscriber growth This wristband lets humans control machines with their minds The U.S. has a rocky history convincing Russia to extradite computer criminals Amazon suffers glitches at the start of Prime Day Jeff Bezos is now the richest man in modern history 'The United States has been foolish': Read Trump and Putin's full exchange Goldman Sachs recommends these 5 highly profitable companies — including Nvidia — to combat rising inflation Goldman Sachs releases 'tactical' stock picks for this earnings season Three red flags for Netflix ahead of its earnings report The bond market may be raising recession fears, but don't expect one anytime soon Cramer: Banks are 'making fortunes' but are still as hated as they were during the financial crisis Putin told Trump at summit: Russia never meddled in US election

Technology

Top VC deals: Jaguar backs robo-taxis, Google buys Redux, Celgene buys new cancer drugs

Here’s a roundup of the most important deals in venture capital from the past week.

Celgene acquired a developer of cancer drugs, Impact Biomedicines, in a deal valued at up to $7 billion the companies announced on Sunday. The deal entails a $1.1 billion initial payment to the start-up, and more in phases if Impact’s clinical trials bear out and the company attains regulatory approvals to move forward with treatments for a blood cancer called myelofibrosis. The deal represents a blockbuster of an exit for Impact’s earlier investors. The company had raised $112 million, including $22 million in venture funding from Medicxi Ventures in London, and $90 million in debt financing from Oberland Capital.

Google has acquired a U.K.-based company called Redux Laboratories, which had 178 granted patents and 50 pending, as well as venture funding from Prosper Capital. Redux’s flagship technology turns the surface of devices, including smartphones, into speakers. A regulatory filing from December 2017 showed that Google’s Ireland subsidiary bought all the shares of NVF Tech, the parent company of Redux. The deal was completed around September last year, and terms weren’t disclosed.

After 12 years and $157 million in venture funding, Practice Fusion was acquired by Allscripts, for $100 million. Practice Fusion created a free online platform that doctors could use to issue prescriptions, communicate with other healthcare providers, order labs and keep records of their patients’ visits. The deal was a disappointing end for Practice Fusion’s backers, who had at one time given the company a $1.5 billion valuation. Practice Fusion was backed by Kleiner Perkins Caufield & Byers, Morgenthaler Ventures, Felicis Ventures, an investment arm of OrbiMed and othaers.

Sydney-based Canva raised $40 million in new venture funding and scored a post-money valuation of $1 billion, CEO and co-founder Melanie Perkins told CNBC. The deal makes Canva one of the few “unicorns” to hail from Australia, and one of the few led by a woman. Canva makes Web-based software that helps non-experts make pretty presentations, graphics or even light animations. Canva wants to topple PowerPoint. But the start-up also faces competition from Apple Keynote, Adobe Connect, and Prezi, another venture-funded company. Sequoia China was part of the new funding round.

Perkins told CNBC that people have created billboards, invitations, missing person posters and more with Canva, in addition to school reports, pitch decks and infographics. The new funding will help Canva expand to international audiences and develop new features and functionality.

“Our mission has been the same for years — to empower everyone to design anything and publish anywhere,” she said. “We’re getting closer to that goal, but haven’t even done 1 percent of what’s possible.”

Hyundai invested in Grab, the Singapore-based ride-hailing company whose app is widely used to hail taxis or private vehicles, throughout Southeast Asia. The companies did not say how much Hyundai has invested. The deal marks Hyundai’s first jump into a ride-hailing platform.

Jaguar’s venture arm, InMotion Ventures, and Khosla Ventures invested in a $15 million round of funding for Voyage, as The Information first reported. The start-up has developed “robo-taxis,” a fleet of driverless cars that can be booked for a ride through an app. Voyage is testing out its autonomous transportation in San Jose, California, and will soon expand it to retirement communities in Florida. The company spun out of Udacity, an online school created by driverless car pioneer Sebastian Thrun.

InMotion Ventures also invested $1 million in a Boston-based start-up called Sheprd the companies announced on Wednesday. Sheprd bills itself as an “on-demand school bus.” Its drivers use Jaguar Land Rover SUVs to pick up groups of students and drop them off at school, soccer practice or other related activities. Parents pre-schedule the rides on an Uber-like app. Kids get picked up and dropped off directly at home or where they’re expected and don’t need to wait at public bus stops.

Renault Nissan and Mitsubishi announced plans to invest $1 billion over 5 years in driverless car and related autonomous and transportation technologies as Alliance Ventures. According to a press statement from the alliance, “The first deal will be a strategic investment in Ionic Materials, a US-based company developing solid-state cobalt-free battery materials.”

Source: Tech CNBC
Top VC deals: Jaguar backs robo-taxis, Google buys Redux, Celgene buys new cancer drugs

Comments are closed.