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Articles tagged with: investor

eBay Acquires E-commerce Startup, Magento

eBay announced on Monday that it has agreed to overtake Magento (an open source ecommerce platform), an LA-based company with nearly 300 employees. eBay before only had a minority stake in the company, but has since then decided to go big or go home. Neither company stated how much the deal will go for, but it is expected to close in the third quarter of this year upon approval.

Magento offers tens of thousands of merchants control over the user experience, catalog, content, and functionality of their online store. The company’s “Go” platform offers a software-as-a-service (SaaS), offering both small and growing merchants the online tools they need, from payments to inventory management.

Bankrupt Blockbuster For Sale

The popular movie rental chain, Blockbuster is now bankrupt and a part of an ongoing auction that opened Monday morning. Today, a winning bid of $284 million bid from Dish Network’s Charles Ergen was placed. The next highest bidder is a hedge-fund manager, Carl Icahn at 280.9 million.

The other groups with qualified bids are Monarch Alternative Capital, South Korea’s SK Telecom, and a joint bid by liquidators Gordon Brothers Group and Hilco Merchant Resources. If Carl Icahn or the Gordon Brothers/Hilco Merchant group were to win,

Angelpad Selects Top 2% Of Startups

Angelpad is a mentorship program that was founded by a group of ex-Google executives, and they held their second demonstration on Tuesday for start-ups to pitch to investors in San Francisco. Currently, there are thirteen companies that range widely, but mobile was a large percentage of the group. These thirteen companies were hand selected out of a total of 800 applications, drawing some rather impressive statistics, falling within the top 2% of total applicants.

One of the co-founders of Angelpad advised companies to first get the company going before focusing on raising “big venture dollars.” While he believes it is fine to…

TechStars Raises $8 Million In Funding

With locations all over the country, TechStars is a “mentorship-driven seed stage investment program.” Each year, they run a three month long program in Boston (MA), Boulder (CO), New York City (NY) and Seattle (WA). TechStars is very selective, hand picking about ten companies out of hundreds for each city. These companies get up to $18,000 in seed funding, three months of intensive top-notch mentorship, and the chance to pitch to angel investors and venture capitalists at the end of the program.

TechStars has comment

UK Tech Sector Gets $60 Million Push

U.K. investment firm Passion Capital just raised a fund of $60 million, $40 million of which was contributed by the U.K. government. They plan to make around 50 investments with the fund, each around $200,000, mostly to companies with little more than a pitch or a prototype. They recently released their invest strategy on their lovely website.

Partners Stefan Glaenzer, Eileen Burbidge and Robert Dighero, are former European angle investors before they got together to launch…