News is best fresh – here’s a selection of today’s top tech headlines (plus a wildcard entry from earlier in the week. Munich-based Wywy is one to watch).
Fab.com Raises $105 Million
Online design retailer Fab.com has raised $105 million, in a round led by Atomico – Skype co-founder Niklas Zennstrom’s international venture firm. The deal values the company at between $600 million and $700 million, sources say. Read more in the Wall Street Journal.
It’s good news for the founders and investors in Casacanda (who include Klaus Hommels and incubator Springstar), which was acquired by Fab in February in the first leg of its international expansion. The all-stock deal valued Casacanda at about $10 million, which will now have jumped high enough to give some very attractive returns on investment. Read more in Gruenderszene (article in German).
No turnaround in sight as Nokia loses another $1bn
It may be the height of summer in Finland, but the view from Nokia chief Stephen Elop’s office window must look pretty dismal right now. Things just keep getting worse for the beleaguered handset maker, which has just announced that it lost $1 billion over the past three months. Read more on GigaOM.
Wywy wants to sync social TV, and scores $3m to do it
German social TV company Wywy closed a funding round of €2.5 million this week, from backers, including firm Cipio Partners. Wywy also acquired Cipio portfolio company Idioma, which specialises in audio detection – giving Wywy the technological firepower to roll-out brand new services. Read more on GigaOM.
Dropbox investigating possible security breach
Dropbox, the popular cloud-storage service, is investigating whether a security breach is to blame for a recent wave of spam e-mails sent to users. Read more on CNN.