Tech-Internet M&A and Investment Database

Be kept informed of the latest tech deals. Get up-to-the-minute analysis about the day’s most interesting fundings and exits. Internet DealBook is a database that tracks the latest angel, VC, private-equity investment and M&A activities across Internet- and technology-related private companies all around the world.

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What3words closes $8.5M Series B

Commentary

What3words, a London-based gobal addressing platform, has received $8.5 million in a Series B round from logistics company Aramex, Intel Capital, Force Over Mass Capital, and Mustard Seed. What3words has created a new addresing system that replaces traditional zip codes, postal codes, and GPS coordinates with a giant global grid made up for 57 trillion 3m x 3m squares. Each 3m x 3m square has an assigned, unique and fixed string of three words. According to the company, using words means ordinary people can accurately find any location more easily and with less ambiguity than any other systems. What3words will also help improve logistics efficiency by offering location accuracy especially in areas where there are inconsistent or complicated addressing systems.

Cisco acquires CloudLock

Commentary

In a move to strengthen its security unit, Cisco Systems announced today its plans to acquire CloudLock for $293 million. CloudLock provides Cloud Access Security Broker (CASB) technology, which is a set of cloud security solutions. The solutions provide an integral layer of cloud cybersecurity centering around visibility, compliance, data security and threat protection. CloudLock empowers companies to monitor their employees that use public cloud applications like ServiceNow, Salesforce, Dropbox and Google apps. As more users use public cloud, sensitive company data can be moved to the public cloud and be made vulnerable to theft or leakage. CloudLock provides a single security dashboard that reports all security incidents across multiple SaaS applications simultaneously and offers a range of solutions including the CloudLock Selective Encryption™, the world’s first purely cloud-based, content-aware, intelligent AES 256-bit encryption solution. It allows enterprises to protect their sensitive data stored across multiple SaaS and public cloud platforms.

Poly Group invests $400 million in Didi Chuxing 

Commentary

Competition in the ride-hailing industry heats up as Didi Chuxing, Uber’s main rival in China, raised $400 million from Poly Group. Poly Group is one of China’s state-owned trading and real-estate conglomerates. This latest fundraising leaves Didi with a valuation of around $27.6 billion. Didi Chuxing, formerly known as Didi Kuaidi, dominates the Chinese ride-hailing market at more than 14 million rides per day. In addition to the equity fundraising, China Merchants Bank recently led a syndicated loan of $2.5 billion and China Life Insurance lent $300 million in long-term debt to Didi Chuxing. The company now has more than $10 billion in disposable funds which it intends to use to ramp up its competition with Uber. 

Google acquires Webpass

Commentary

Google recently announced it acquired San Francisco-based Internet service provider Webpass. The move means the search giant will now be able to expand the reach of Google Fiber, which is its own fiber-to-the-premises Internet and cable TV service in the US. More significantly, the acquisition will allow Google to have a look at pCell, a breakthrough wireless antenna that Webpass is helping to test. Developed by Steve Perlman of Artemis Network, pCell technology gives users their own wireless Internet bubble that follows them around, and provides full speed mobile Internet service, no matter how many people are in the area. According to sources, Artemis Network has agreed to continue to work with Webpass after the merger with Google Fiber. Industry observers predict the collective technologies of Google Fiber, Webpass and Artemis Network may pave the way for speedier Internet connection for everyone.