Tudou Closes on $174M in IPO
Tudou Holdings, China’s second- biggest video website, raised $174 million yesterday in its U.S. initial public offering, according to Bloomberg. Proceeds will be used for tech upgrades, bandwidth expansion and rights to videos. The site offers movies, TV series and content it produces itself, as well as user-generated videos.
Kabbage Takes $17M in Series B
Kabbage, which provides working capital to online merchants, has raised $17 million in Series B funding led by Mohr Davidow Ventures with BlueRun Ventures, TPG Capital; Stephens; the UPS Strategic Enterprise Fund and Jim McKelvey. Kabbage uses technology to analyze online merchants’ sales and credit history, customer traffic and reviews and prices and inventory compared to competitors, Tech Crunch says.
Empire Avenue Raises $1.2M for Social Stock Market Concept
Empire Avenue has raised $1.2 million from Crosslink Capital. Empire Avenue has developed what it dubs a social stock market, where you are the “company” and your product and value is determined by what you do online and the networks you create. It has a range of metrics to show users the value of their networks on sites like Facebook, Twitter, YouTube, LinkedIn and Flickr.