Google is launching an office in Seoul, South Korea. Google has similar bases in London and Tel Aviv. It will allow entrepreneurs utilize company resources and support. Google said “that Campus Seoul will supercharge tech entrepreneurs, strengthen the startup ecosystem and encourage even more innovation in Korea.”
Dropbox has announced an update to the Dropbox Pro file storage service. All previous storage options are being dropped to a single tier, which is 1TB of storage for $9.99 per month. Google launched the same deal for Google Drive in March. Dropbox used to charge $9.99 per month for 100GB of storage.
The Honest Co., the startup that was founded by Jessica Alba and Brian Lee, is preparing to go public and has raised $70 million with nearly a $1 billion valuation. The Series C round of funding was provided by Wellington Management Company, Institutional Venture Partners, Iconiq Capital, Lightspeed Venture Partners, and General Catalyst Partners.
Music streaming service Spotify announced an exclusive smart TV deal where it will be integrated with Phillips TVs. The Phillips TV integration will allow users to play songs from the TV through a smartphone, tablet, or Phillips remote.
Time Warner Cable performed routine network maintenance at 4:30AM today, but a major outage was caused. “As of 6 a.m. ET, services were largely restored as updates continue to bring all customers back online,” said Time Warner Cable vice president for public relations Bobby Amirshahi. The outage affected Time Warner Cable’s entire network. Time Warner Cable runs in 29 states and has nearly 12 million high-speed Internet customers.
Nutanix, a web-scale converged infrastructure company, has raised $140 million in Series E funding with a valuation of over $2 billion. Nutanix has raised a total of $312 million. Nutanix will be using the funding to invest in sales, research/development, and customer support.
Snapchat has reportedly received $20 million in funding from Kleiner Perkins Caufield & Byers. This round of funding is reportedly giving Snapchat a $10 billion valuation. Several weeks ago, there were rumors that Chinese e-commerce company Alibaba was interested in putting money into Snapchat. Snapchat reportedly turned down $3 billion from Facebook.