Daily Archives: April 15, 2009

Paul Taylor

Nirvanix, the San Diego-based company that brought network attached storage to the cloud, has raised another $5m in funding from its original investors - Intel Capital, Mission Ventures, Valhalla Partners and Windward Ventures.

The latest funding round brings the total raised by the intriguingly named company to over $23m and underscores the belief among the VC community that cloud-based services targeting business customers will continue to blossom despite, or perhaps because of, the recession.

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  • Ebay announced plans to spin off Skype, its internet phone service, after talks to sell Skype back to its founders collapsed. Skype, purchased for $3.1bn in 2005, was meant to help buyers and sellers connect on eBay’s core e-commerce site. But there has been no synergy between the companies, and eBay chief executive John Donahoe has faced increasing pressure to sell Skype. The plan was announced one day after eBay sold StumbleUpon back to its founders.
  • Intel said the PC market has bottomed out, but offered few signs that a recovery from recent drastic sales declines was close at hand. Revenues for the three months through March slumped to $7.1bn, or 26 per cent lower than a year before, while net income fell by 55 per cent to $647m.

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