News Byte

Tim Draper Steps Back From Draper Fisher Jurvetson, Firm Confirms

The boisterous venture capitalist Tim Draper will not be an investment partner for the next fund of the firm that his name headlines, Draper Fisher Jurvetson confirmed today after a Fortune scoop. DFJ said Draper will be one of the largest contributors to the new fund and will remain a member of the firm’s management committee, but will not be an investing partner as he focuses on other projects, like the entrepreneurship program that also bears his name, Draper University.

Goldman Sachs Invests $40 Million in SugarCRM

Doing one thing, and one thing only.

Just-Launched Swell Audio News App Backed With $5.4M

Venture capitalists are excited about having their very own custom talk-radio channels.

Anticipating IPO in 2014, Ping Identity Raises $44 Million Series F

A vision in which enterprise security pivots around the identity.

Equifax Buys Identity Protection Startup TrustedID for About $30 Million

The data giant picks up a well-respected Silicon Valley ID protection firm.

Facebook’s Android Vet Jumps to DFJ as New General Partner

Another Facebook old-timer leaves the company to work with startups and early-stage companies once more.

Why the Rumored Microsoft Deal for Yammer Rings True

Is this how David Sacks plans to celebrate his birthday?

News Byte

Maveron Deposits $8 Million Into Mobile Wallet Company Lemon

Palo Alto, Calif.-based Lemon has raised $8 million in a first round of capital to pay for the launch of its new smartphone wallet. Maveron led the round, with Draper Fisher Jurvetson and The Social+Capital Partnership also participating. The app allows users to take a photo of all of their cards in their wallet, so they can be retrieved later, using a four-digit code. The wallet also organizes receipts, so people can manage their finances. The company was founded in part by Wences Casares in 2011.


IBM’s Pick of SugarCRM Creates More Rivals for Oracle

Much has been made of the rivalry between Oracle Corp. and Inc. in cloud computing. But last week a venture-backed start-up secured one of the richest contracts in business for software to manage sales, marketing and customer relationships.

Li Ka-shing’s Horizon Ventures Bets on Mobile Search Start-Up, a mobile search provider, has taken $3.5 million in add-on funding from Hong Kong billionaire Li Ka-shing’s Horizons Ventures, known for tech investments like Facebook and Spotify.

Meebo Finishes Series D at $27.5M

Exclusive: Meebo Raises $25M More