The Alamo Regional Mobility Authority says Elon Musk’s The Boring Company has offered an additional $15 million to finance the San Antonio Loop, increasing its initial offer of $27 million to $45 million to support the first phase of the project. Alamo RMA:
That’s a lot of money that’s not coming from taxpayers to improve community transportation. I don’t see anybody else coming and giving us $50 million that’s not funding by taxpayers in some way, shape or form..
The 7.6 mile tunnel is expected to generate a net revenue of $25 million per year from 112,000 commuters daily, with fares between $10 to $13 per passenger.
Nazara Games, London Venture Partners and Supercell’s Hollanda-Grönberg invest in TrulySocial. Nazara CEO Manish Agarwal:
We see a perfect fit with TrulySocial’s contemporary social world and are working with them to bring a completely new genre of gaming to India. With TrulySocial we are delighted to have an opportunity to see ourselves along with key international players.
The UK government is to create a new £1 billion fund, called The Ross Fund, in partnership with US philanthropists, Bill and Melinda Gates. The fun, named after Sir Ronald Ross, who first found the link between mosquitoes and malaria in 1902, aims to eradicate malaria and other infectious disease. The fund will come from the UK’s overseas aid budget over the next five years, with £115m earmarked for research into new drugs, diagnostics and insecticides for malaria, TB and other infectious diseases, and £188m to be spent on improving biodefences and rapid response systems to fast-spreading epidemics such as Ebola. UK Chancellor Osborne:
[The government’s commitment to overseas aid helps to] promote our national security and interests around the world. [Working with the Bill and Melinda Gates Foundation will help us in] our joint ambition to see an end to this global disease in our lifetimes.
With the combined skill and expertise of British scientists; leveraging the weight of both public and private financing; and the continued leadership of George Osborne and the UK, [the] announcement of the Ross Fund will play a key role in reaching that goal [ eradicating malaria and other poverty-related infectious diseases].
Foot Cardigan accepts an offer on Shark Tank from Cuban and Carter, who is appearing as a guest shark, to co-invest $250,000 for a 20% ownership stake in their $9-a-month sock subscription service. The company says it earned $1.36 million in the past three years ($900,000 in the past 12 months) and projects $1.5 million for 2015. It currently services 6,000 monthly customers with seasonal increases to approximately 12,000 subscribers.
Crowded House re-releases Help Is Coming, introduced by Cumberbatch, to raise money for refugees fleeing to Europe to escape conflict. The fund-raising video features footage from refugee camps and shows people attempting to travel to a country of sanctuary. Crowded House’s Neil Finn and Capitol Records have agreed to donate all the royalties to Save The Children.
Sweetgreen receives $35 million in additional investments from T. Rowe Price and Revolution Growth bringing the company’s total funding to $95 million. The investment will be used for technology, building its supply chain and building the sweetgreen team, both at the corporate level and hiring employees for new stores.
We’re making huge investments in training and development. . . . We want to bridge the gap between health and convenience, but do it at a national scale.
Eychaner throws a fundraiser for Clinton in his Chicago home. He states:
Everybody working together needs to make Hillary the next president.
When asked if he would become a major donor to Priorities USA Action he responds:
I assume so. Nobody has approached me about a super-PAC yet. Don’t open up the floodgates, but nobody has called about the subject.
On the subject of the at least $25 million in contributions to the Clinton Foundation:
If you want to try to go to a sports analogy, that’s a career total for support starting in 2001, for the library and for HIV and for everything else along the way, for general operating support sometimes and for their endowment. So, it’s all reported. None of it is lacking in transparency.
About himself he says:
I’m not a billionaire and I’m not a mogul. I’m a retired media executive.
Gouw and Fonstad raise $150 million for Aspect’s first fund. Gouw:
We’re targeting $2 million to $5 million checks, but wanted to be small enough to also be able to work with a bigger platform firm if it’s a $10 million round — and there are a lot more of those now than there used to be. We’ll also devote around 20% of the fund to seed deals with the intention of then leading the A round.
Carter and Nichols are raising a $50 million fund for Cross Culture Ventures, according to a regulatory filing. The fund will target seed and Series A tech startups.
Sprint and parent SoftBank buy a minority stake in Jay Z’s subscription music service. While the size of the investment couldn’t be learned, sources said the deal values Tidal at around $250 million. At the launch event, Tidal’s chief investment officer, Vania Schlogel, said the service had been working closely with Sprint’s CEO. Sprint is preparing to offer Tidal’s service on its phones although the details and the pricing are unclear.
Revolution Growth invests another $18.5 million into sweetgreen bringing its total to $40.5 million.
The words ‘seasonality’ and ‘fast food’ are rarely used together, but at sweetgreen, we believe that the two don’t have to be mutually exclusive — it just takes a commitment to standing behind our food ethos and working with farmers that share the same values.
They currently have 27 stores on the east coast.
Altman leads Reddit’s $50 million Series B round with Andreesen Horowitz and Sequoia Capital, as well as individual investors including Leto, Dogg, Kushner, Livingston, Kevin and Julia Hartz, Mariam Naficy, and Reddit CEO Yishan Wong. Valuation is $500 million. Altman:
I’m willing to be very patient. I don’t have any particular timeframe in mind. I believe that the community is very valuable and that the value will continue to increase. Up to the company if they want to share cashflow details, but they run the company efficiently.
The ice bucket challenge raises over $100 million to date for ALS. During the same period last year, July 29, 2013 to August, 29 2013, the ALS Association raised $2.8 million. In the fiscal year 2014, the organization raised approximately $26.3 million in total, which means the amount raised in several months is quadruple that of what was raised last year. ALS President and CEO Barbara Newhouse:
The word gratitude doesn’t do enough to express what we are feeling right now.
The investment firm announces a $90 million investment in the enterprise management, that helps IT professionals secure and manage devices.
Future Tense Secure Systems (FTC) acquires an equity stake in QiKfunder.com, which provides funding solutions such as crowdsourcing for social, community, equity and real estate ventures.
Qikfunder offers the best security and best approach of any of the crowdfunding outfits. I am always interested in helping and growing new tech start-ups and ideas. Qikfunder’s goal is to make fundraising accessible to everyone
Altman invites the question-and-answer site to be the first late-stage participant:
I don’t know if [Quora] will develop a new product that they did not already have in the works as a result of being at Y Combinator…But we think we can help them with certain areas like hiring… And we think they can help our community a great deal.
Revolution Growth invests $22 million dollars in sweetgreen. The investment will go towards national expansion of its stores, building its team and corporate culture, and growing community programs and marketing initiatives. Case, Revolution Growth’s co-founder, is joining the board and acting as advisor.
We are incredibly proud to partner with Steve Case and Revolution Growth, a company that not only knows how to build and scale some of the most exciting brands, but embraces our core values. This investment will enable us to bring sweetgreen’s original vision to life in more communities across the country, continue to build an outstanding team of people, and support our local farmers and communities. It’s what we set out to do when we opened our first sweetgreen in Georgetown six years ago, and we could not be more excited for the company’s future.
Investors in the fund include Yammer co-founder David Sacks, and another limited partner who isn’t identified at the time of the announcement. Calacanis in an email describes the fund’s focus:
[..] exclusively on folks who come out of LAUNCH Festival, LAUNCH Hackathon, LAUNCH Education & Kids and LAUNCH Mobile (our four events).
It plans to invest $25,000 to $100,000 in five to 10 startups a year.
BitInstant, a New York City based startup that operates an online platform for buying and selling Bitcoins, raises $1.5 million in a seed funding round led by Winklevoss Capital. BitInstant’s full-time staff of 16 led by CEO Charlie Shrem processes approximately 30 percent of the money going into and out of Bitcoin, and last month alone facilitated 30,000 transactions. The Winklevosses say they were attracted to invest in BitInstant in large part because Shrem is the vice chairman of the Bitcoin Foundation, and CIO Alex Waters previously worked with the core developers on the original Satoshi Bitcoin client.
Cameron: Charlie has been in the space for a very long time, and he has an impeccable reputation among Bitcoiners.
Brian Knappenberger, the director of the Anonymous documentary We Are Legion: The Story of the Hacktivists, launches a Kickstarter to raise $75,000 to fund his feature documentary about Swartz. The documentary, currently titled The Internet’s Own Boy, will look not just look at the life of the programmer and activist, but at the culture he helped build. In addition to speaking with Swartz’s family and loved ones Knappenberger plans to speak with officials at MIT, which has been reviewing what happened in the JSTOR case since the programmer’s death. Keeping in line with Swartz’s vision, the director said he plans to release the film under a Creative Commons license so that others can build off of what he produces.
Kirk is about to leave the 2012 Republican National Convention in Tampa when he spots Friess in a stairwell and pitches him on his idea of starting a grass-roots organization to rival liberal groups such as MoveOn.org. Kirk receives funds from Friess three weeks later. Freiss:
He impressed me with his capacity to lead, intelligence, and love for America. I instantly knew I wanted to support him.
The company raises $7.1 million from unnamed investors. (SEC filing here.)
SV Angel is reported to join the round with Union Square Ventures, Pilot Group, Avalon Ventures, and individual investors, for a total of $10 million.
Foundry Group, along with Union Square Ventures invests in Zygna’s Series A-1 investment of nearly $5 million. Zynga makes social games that run on mobile devices and desktops. Its most famous product is Farmville, a social game that allows Facebook users to create a virtual farm.
Walker sends out a fund-raising letter to supporters criticizing Governor Doyle and his liberal allies:
Jim Doyle and his liberal allies in Madison don’t think you’re paying enough in taxes. Even though Wisconsin is one of the highest taxed states in the nation, Doyle and liberals in Madison and Milwaukee want to raise taxes by another $18 billion.
Loopt raises a reported $12 million from its two existing investors, Sequoia Capital and NEA. It is reported to call down $2.25 million from the funding.
Graham funds Kan and Shear’s second venture, Justin.tv, supplying $50,000 through Y Combinator. The website featues a single channel tracking Kan, who wears a camera on his head and a backpack full of cellphone modems, as he goes about life in San Francisco. It attracts tens of thousands of viewers. Graham:
I thought it was insanely weird.
Sequoia and NEA participate in the round for a reported $5 million.
Loopt joins the inaugural batch and receives a reported $6,000. Altman says the money-saving culture at Y Combinator, which extends to things like readymade meals, helps develop the location-based mobile app company develop:
That culture of frugality and discipline is really important for the Y Combinator mindset. The start-ups that do well are the ones that are working all the time.
After a hard political battle, President Bush signs an omnibus bill which includes $110 million in initial funding for NASA’s New Horizons mission to Pluto and the Kuiper Belt System. The funding allows the team to proceed with the final design of the probe.
It’s like the old days. We are going to the frontier. We’re going back to the roots of the space program.
McAfee invests in San Francisco-based cybersecurity firm Zone Labs, creator of the then-popular ZoneAlarm firewall product. McAfee also joins the company’s board of directors.
McGinness and McMaster –a wealthy grazier — become friends when McGinness fixes McMaster’ car when it breaks an axle in a riverbed. Back in Brisbane, McGinness and Fysh tell McMaster about their plans for an air service, beginning with joy rides and air taxi trips. McMaster convinces business acquaintances to invest with them. With their former flight sergeant Arthur Baird as aircraft mechanic, Fysh and McGinness order two Avro 504K aircraft at Mascot Aerodrome, Sydney in the name of The Western Queensland Auto Aero Service Limited.