Mobile payments company Boku raises $35m
The frenzy to invest in mobile payments providers continues with Boku, the San Francisco-based start-up raising $35m, in a funding round led by Telefónica Digital. It will take the total raised by the mobile transactions company to more than $75m since 2008.
Investors in this round also included New Enterprise Associates (NEA), Andreessen Horowitz, Benchmark Capital, DAG Ventures, Index Ventures and Khosla Ventures. Read more
European secondary venture funds merge
A little bit of much-needed consolidation is finally taking place in the European Venture Capital industry. On Wednesday DFJ Esprit and Tempo Capital announced plans to merge their secondary investment businesses.
Tempo is a specialist in this market of buying existing venture capital investments, and DFJ has been dipping its toes in since 2007 when it bought out Cazenove’s venture capital fund. Read more
Investors bet on European shopping sites
Whatever the state of consumer confidence in Europe, venture capital investors are betting the people will keep shopping, with three e-commerce start-ups receiving new funding in February. The investment thesis appears to be that you can never have too many shoes, baby items or eco-friendly hammocks.
Slow start to new .anything names
Companies are not exactly beating down Icann’s door to get their hands on a new .anything domain name, it seems.
One month into the application process, just 100 companies have so far registered to apply for a new top level domain name such as .coke or .london. It is the first indication of what the uptake will be like of the controversial expansion of internet names by Icann. Read more
Russia’s Silicon Valley woos British investors
A delegation from Russia’s proposed ‘Silicon Valley’ development, Skolkovo, came to the UK this week in an effort to persuade UK businesses to invest in the high-tech hub being built on the outskirts of Moscow.
They faced awkward questions, however, about the political landscape that companies might face if they transferred operations to Russia. Denis MacShane, Labour MP for Rotherham, wrote to Lord Green, the trade minister, criticising the UK’s Department of Trade and Industry for hosting the conference, and pointing to the difficulties that many UK companies had faced in Russia. Read more
Is Google dipping its toe into retail?
The small detail in a planning application has led to speculation that Google might be opening its first retail store, at its European headquarters in Dublin.
Google is revamping the Montevetro office block on Dublin’s Barrow Street, and the plans submitted to Dublin City Council include a provision f0r some retail space in a snazzy new, attention-grabbing mezzanine development. Could this be an experiment by Google to see if a physical store – where they could demonstrate the workings of Chromebooks, or display Android phones – would work for them? Read more
Kaspersky rules out IPO – should the others?
Kaspersky Labs is one of a group of European IT security companies that has been talking about floating since at least 2007. But Eugene Kaspersky, the company’s founder and majority shareholder, has now announced the company is planning to stay private after all.
He is buying back the 20 per cent stake General Atlantic bought in the company a year ago, and preserving all the freedom and flexibility that unlisted status affords. Read more
Facebook filing flags privacy risks
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One thing Facebook’s IPO filing documents make clear is that the company is taking privacy risks seriously. Privacy is mentioned 35 times, mainly as a risk factor.
The company acknowledges that media coverage of privacy lapses, for example, could affect profits. Read more
French court fines Google over mapping
There was more bad news in France for Google on Wednesday as a Paris court decided that the internet company had abused its dominant position in online mapping tools.
The decision comes as we await the bigger decision by the European Commission over whether Google has behaved anti-competitively in the search market. Read more
Internet companies dominate EU fundraising in January
Online shopping and renting out spare capacity in flats and cars appeared to be the investment themes in Europe in January, with consumer-facing internet companies once again getting the majority of the money and attention.
Berlin was the fundraising hot-spot with at least four start-ups raising money, from $50m for SoundCloud to a more modest $1.4m for Gidsy.
This is the first of a series of monthly updates on the early-stage technology companies raising money in Europe.
| About this blog | Blog guide |
Richard Waters has headed the FT's San Francisco bureau since 2002 and covers Google and Microsoft, among other things. A former New York bureau chief for the FT, he is intrigued by Silicon Valley's unique financial and business culture, and is looking forward to covering his second Tech Bust.
Chris Nuttall has been online and messing around with computers for more than 20 years and since 2004 has reported from the FT's San Francisco bureau on semiconductors, video games, consumer electronics and all things interwebby.
Maija Palmer has been writing about technology for the FT since 1999 and is fascinated by cybercrime, privacy and all the other issues of the information society. Based in London, she covers European tech companies and hopes that they won't all get acquired by American rivals.
Robin Kwong is the FT's technology, media and telecoms page editor in London. Formerly he was the Taipei correspondent and wrote about the companies that manufacture the vast majority of the world's computers and gadgets. He is interested in the intricacies of the technology supply chain and how China is increasingly changing the tech landscape.
Tim Bradshaw is the FT's digital media correspondent, and has just moved from London to join our team in San Francisco. He has covered start-ups such as Twitter and Spotify, as well as the online ambitions of more established media companies, such as the BBC iPlayer. He also covers the advertising, marketing and video-game industries. Tim has been writing about technology, business and finance since 2003.
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