Tag Archives: Li Ka-Shing
Social Navigation Company Waze Raises $30 Million
Waze is a social navigation company that has raised $30 million in funding. Investors in this round include Horizons Ventures Hong Kong (Li Ka-shing’s private venture investments), Kleiner Perkins Caufield & Byers, and the iFund. Waze has raised a total of over $55 million thus far.
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Joost Is Further Fading Into Irrelevance
Joost was started by Niklas Zennström and Janus Friis back in October 2006. The company raised about $45 million in funding shortly after starting up. Investors included Sequoia Capital, Index Ventures, Viacom, CBS and Li Ka-shing. Joost killed off their desktop application and became purely a web service in September 2008.
Joost announced that they have replaced former CEO Mike Volpi. Joost SVP of Engineering Matt Zelesko will be replacing Volpi. However Volpi will remain as Chairman of the board.
As a result of Joost’s lack of growth compared to YouTube, Hulu, and other video services Joost has decided to focus on providing video platforms for bigger companies. There will also be major layoffs. Joost employs about 100 people in New York and London.
[via Reuters]
Categories CBS, CBS Corp, CBS Corporation, Index Ventures, Joost, Li Ka-Shing, Matt Zelesko, Mike Volpi, Sequoia Capital, Viacom Inc
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