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9:04 am ET
Dec 31, 2015

The Daily Startup

The Daily Startup: Videoconferencing Provider Lifesize Spins Out of Logitech

  • Article
  • Comments (1)
  • Bill Gurley

  • Buddy Platform

  • Fuhu

  • HLM Venture Partners

  • Lifesize

  • Novan

  • Nutanix

  • Playful Corp

  • Twilio

    dailystartup_D_20090806101628.jpgArt by Mike Lucas

    Logitech International SA has spun off its videoconferencing division as Lifesize Inc.The new private company has raised $17.5 million in funding from Meritech Capital Partners, Redpoint Ventures and Sutter Hill Ventures. Lifesize was founded in 2003 under the name KMV Technologies. Its early board members included Jeff Brody of Redpoint Ventures, Vab Goel of Norwest Venture Partners and Venu Shamapant, then of Austin Ventures, according to regulatory filings.

    ALSO IN TODAY’S VENTUREWIRE (subscription required):

    Buddy Platform, an Internet-of-Things analytics company that was backed by Microsoft Ventures, has listed on the Australian Securities Exchange through a reverse takeover of struggling public Australian mining company Potash Minerals Ltd.

    Bill Gurley is stepping down from the board of Zillow Group Inc., according to a regulatory filing. The resignation from the publicly traded company is effective Thursday, according to the filing. Mr. Gurley, an investor at the venture capital firm Benchmark, joined the company’s board in October 2005. The resignation from the board is the second recently for Mr. Gurley. He also stepped down from the board of food-delivery company GrubHub Inc.

    Novan Inc., which is developing an acne treatment, has raised $32.8 million in funding, according to a regulatory filing.

    HLM Venture Partners, which invests in health-care companies, has raised $63.7 million toward its fourth fund, according to a regulatory filing. The Boston-based venture capital firm has a target of $125 million for HLM Venture Associates IV LLC.

    (VentureWire is a daily newsletter with comprehensive analysis of all the investments, deals and personnel moves involving startups and their venture backers. For a two-week trial, visit http://on.wsj.com/DJPEVCNews, scroll to the bottom and click “try for free.”)


    Fidelity Revises Value of Stakes in IPO Hopefuls Twilio, Nutanix. Mutual-fund firm Fidelity Investment has revised the estimated value of its stakes in several startups, including Twilio Inc. and Nutanix Inc., The Wall Street Journal’s Rolfe Winkler and Kirsten Grind report. Fidelity boosted the value of its stake in software company Twilio Inc. by 31% in November, according to a monthly report of holdings for one of its funds posted on Wednesday. At the same time, it has reduced the value of shares in business-storage company Nutanix by 10.7%. The two startups are on the verge of initial public offerings in 2016.

    Oculus Chooses Game From VC-Backed Startup to Ship With Rift VR Headset. Virtual-reality headset maker Oculus has selected the game “Lucky’s Tales” to ship with its Rift headsets, the WSJ’s Sarah E. Needleman reports. The game is made by Playful Corp., a venture-backed startup that was founded by Paul Bettner, the co-creator of the game “Words With Friends.”

    Golfer’s Hedge Fund Makes Bid For Nabi Tablet Maker. A hedge fund founded by golfer Greg Norman is bidding $10 million for Fuhu Inc., the maker of children’s tablet Nabi, the WSJ’s Stephanie Gleason reports. Mr. Norman’s Great White Shark Opportunity Fund LP was selected as the lead bidder for the company. The $10 million offer topped one from toy maker Mattel Inc.

    Privacy Policies Becoming More Readable, But Still Hard to Understand. The densely worded privacy policies that come with apps and services are moving toward plain English instead of legalese, the WSJ’s Elizabeth Dwoskin reports. Some of the companies that have made efforts to have reader-friendly privacy policies are venture-backed companies Pinterest Inc., Reddit Inc. and Spotify AB.

    Write to Mike Billings at mike.billings@wsj.com. Follow him on Twitter at @mbillings


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