Former General Catalyst managing director Jonathan Teo and former Lightspeed Venture Partners managing director Justin Caldbeck have raised $125 million in funding for a new investment firm called Binary Capital. Caldbeck and Teo previously have made investments in companies like Snapchat, Whisper, Instagram and Taskrabbit. The two of them are expecting to write around $3-$5 million for consumer-facing companies.
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Zillow is acquiring Trulia for $3.5 billion in stock. Combined, Zillow and Trulia will run a giant repository for online listings for real estate values. As part of the deal, Zillow will pay 0.444 of one of its shares for each share in Trulia. The deal is worth $70.53 per share of Trulia, which is a 25% premium. In June, Zillow reported 83 million users across the web and mobile devices, while Trulia reported 54 million.
According to Nikkei.com, Tesla Motors Inc (NASDAQ:TSLA) has signed a deal with Panasonic for the Gigafactory. Panasonic, the industrial manufacturing company, will supply Tesla Motors with machinery to run the Gigafactory. The deal is reportedly worth between $194 and $291 million. The investment in the project may increase to $5 billion with Panasonic’s contribution hitting $1 billion. Tesla is hoping to start building the Gigafactory this year. Tesla Motors wants to double the supply of the world supply of lithium-ion batteries by 2020.
Apple Inc. (NASDAQ:AAPL) is currently in talks to acquire Swell, a “Pandora for talk radio.” Swell curates podcasts and sorts them into a personalized stream so it acts like a recommendation system. The deal is reportedly worth around $30 million.
Apple has confirmed that it has acquired book analytics company BookLamp, which is known as the “Pandora for Books” in April. According to sources with the acquisition, Apple acquired BookLamp to offer better discovery and analytics for its e-book store.
Zillow Inc (NASDAQ:Z) is rumored to be in talks to acquire Trulia Inc (NYSE:TRLA). This would create a dominant search website for people that are looking for houses in the U.S. Zillow is the largest real estate website and it would acquire the second largest for $2 billion in cash and stock, according to sources with Bloomberg.
On Wednesday, Facebook announced its second quarter earnings after the stock market closed. Facebook reported a net income of $791 million (30 cents per share). Non-GAAP earnings were 42 cents per share on revenues of $2.91 billion, which is an increase of 61% from the same quarter last year.
AvantCredit is a Chicago-based online consumer lender that has raised $75 million in Series C funding led by Tiger Global Management.