Microsoft Inc has agreed to buy UK-based start-up SwiftKey, an application firm known for a free software service that replaces the default keyboard on phones and tablets manufactured by Apple Inc and Alphabet Inc, for $250 million, according to Bloomberg News.
Magic Leap valued at $4.5 bn
Florida-based start-up Magic Leap, working on a device that simulates reality, has raised $793.5 million in a new round of funding led by Alibaba Group Holding, valuing the firm at $4.5 billion. This will help the company bring its first product to the market. Magic Leap is promising to create a headset that would use a type of light-field technology to simulate 3D images superimposed on the real world - providing what the company calls mixed reality, Bloomberg News said.
Lamudi raises $31.4 million
Rocket Internet's property listings site for emerging markets, Lamudi, has added $31.4 million to its coffers after closing a new investment. The firm secured the investment from Asia Pacific Internet Group, a joint venture between Rocket Internet itself and Qatari telcom company Ooredoo, European VC firm Holtzbrinck Ventures and Tengelmann Ventures, a division of retailer Tengelmann, according to Tech in Asia.
Oleg Boyko buys into Spotcap
Russian billionaire Oleg Boyko's private equity firm bought a stake in Germany's Spotcap as the online lender backed by Rocket Internet SE secured its biggest financing to date. Spotcap raised $34 million from Boyko's Finstar Financial Group and existing investor Holtzbrinck Ventures, Bloomberg News said.
Nasty Gal to lay off 10% staff
Los Angeles-based fashion retailer Nasty Gal is slashing about 10 per cent of its staff as part of "strategic restructuring". The lay-offs will affect 19 employees across departments. The cuts come one year after the firm raised $16 million a Index Ventures and former JC Penney and Apple executive Ron Johnson, which brought its total backing to $65 million, Bloomberg News said.
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