Last year the number of acquisitions in the Silicon Valley were not as much as they were in 2007. Cisco only acquired four companies in 2008, which was down from 14 in 2007. This year things are going to change. According to Cisco’s CEO, John Chambers, the company has been aggressive when it comes to acquisitions in the downturns because this is the best time for it.
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Newton, Massachusetts based online student comparison site, SimpleTuition has raised $6 million in the third round of funding. The round was participated by Atlas Ventures, Flybridge Venture Capital and North Hill Venture. The site help students and their families to find the best possible loan/financing option for their education expenses. The assistance is given according to the situation of a student. The amount raised will be used to enhance the service.
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Paymetric, the ERP system solutions provider has sold its XiBuy app to BizAps which is a WNS group company. The terms of the deal were not disclosed. Paymetric has so far raised $11 million fro Austin Ventures.
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According to reports, Zynga, an online casual game developer for various social networks is said to be earning between $30 million to $50 million per year. This seems a bit unusual because applications on social network don’t earn that much money. This makes Zynga one of very few companies which are making full use of their virtual products. The company develop games for social networks like Facebook and MySpace.
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Though it was rumored last month that Dell will be coming up with a notebook called Adamo, now on the second day of CES, the PC maker has confirmed the name only. No further details of the device were disclosed. According to CNET:
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A lawsuit filed against a patient who wrote some negative review against Yelp, has been settled outside the courtroom, said the defendant attorney. Christopher Norberg was sued Steven Biegel after he ignored his request to discuss his post. The details of the settlement remain classified. In a post after the settlement, Norberg said:
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Online multi-platform tool developer Evernote has raised another $4.5 million in a new round of funding. The money will be used for the production and marketing of Evernote products. The current amount was raised from Russian Troika Capital Partners. According to Phil Libin, the company’s CEO:
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Its been hardly 7 months when search engine giant Google launched their new favicon. It took almost eight and a half years to change their older favicon. Now things have started moving fast as the new favicon has popped up. The new favicon contains the same Google color scheme which consists of red, green, blue and yellow.
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Apple has released the proxy statement for 2009 which contains the detail of financial compensation enjoyed by the company executives. Company CEO Steve Jobs retained his $1 salary for last year but had more than 5.5 million shares of Apple stock worth $500 million on paper. The largest investor of the company was Fidelity Investments with more than 46 million shares of stock. Following are five proposals of the shareholder for voting this time:
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