The San-Francisco-based startup TripIt, the 'intelligent' travel organizer that helps travelers manage their plans to ensure a smooth trip, recently raised $7 million in a third funding round; led by new investor Azure Capital Partners, along with O'Reilly AlphaTech Ventures, which also participated in the company's earlier two funding rounds.
A whopping $40 Million has been raised in new funding by the popular Chinese video websites Youku. com, which is also the country's largest site of the segment, and the development is being as a sign pointing to the confidence that the medium will continue to grow throughout China, as firms move further away from "user-generated videos" for which they were once famous.
Kai-fu Lee, Google Inc.'s departed head of China operations, announced on Sunday that he would run his own business that would invest in Chinese technology start-ups. Kai-fu Lee confirmed his plan to launch the business on his twitter page, saying he would establish a firm with more than $117.1 million of funds.