Australia’s I-MED Radiology pulls $350 mln IPO due to volatility, says source: Reuters

(Reuters) Australia’s largest X-ray provider I-MED Radiology Network cancelled a A$500 million ($350.45 million) initial public offering because of volatility in global markets, a person with direct knowledge of the situation told Reuters on Thursday. I-MED’s owner, Swedish private equity firm EQT Holdings AB, pulled the sale of a 50 percent stake in the company after company representatives finished a roadshow in Asia, added the source, who asked not to be identified because he was not authorised to comment publicly. The decision to pull the sale came a day after smaller rival Integral Diagnostics priced its IPO at the bottom of a target range of A$133 million to A$157 million, but the catalyst behind EQT’s decision was overall market volatility, said the source. Australian shares have experienced substantial gyrations in 2015 as concerns about a slowdown in top trading partner China hit commodities prices. Stocks are down 6 percent so far in 2015 and the three months to end-September were their worst quarter in four years. An I-MED spokeswoman and the bank appointed to advise on the IPO, Rothschild, were not immediately available for comment. Private equity-backed IPOs have slumped accordingly, to about a quarter of 2014’s record level, as buyout firms consider holding on to their investments or trade sales to sidestep a skittish market. In June, South African insurer Hollard Group pulled a listing of its Australian unit that sought to raise nearly A$1 billion while New Zealand wood products firm Carter Holt Harvey delayed a dual Australian-New Zealand IPO worth about the same amount because of investor uncertainty. The biggest Australian listing of the year so far, software maker MYOB Ltd, is trading below its issue price, while fruit and vegetable producer Costa Group Holdings is trading at a 1 percent premium to its issue price.

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Australia’s I-MED Radiology pulls $350 mln IPO due to volatility, says source: Reuters

Quintype nabs $3.25 mln

San Mateo, California and India-based Quintype, a data-driven publishing company, has secured $3.25 million in funding. Raghav Bahl, often known as the “Rupert Murdoch of India,” led the round. PRESS RELEASE SAN MATEO, Calif. — Quintype, a data-driven publishing company, today announced it has raised $3.25 million to enhance product and business development. Specifically, the funding will be used to grow the product engineering, and sales teams, across locations here in the Bay Area, as well as in Bangalore, India. The funding was led by Raghav Bahl, an Indian businessman, best known for his ownership of several dozen television channels and online properties, under the Network18 umbrella. Often known as the Rupert Murdoch of India, he was the founder, controlling shareholder, and CEO of Network18 group until its takeover by India’s Reliance group last year. He has since founded Quintillion Media, which is an all-digital, mobile-first media company. His first product, a Huffington-Post/BuzzFeed-like news site for India, called The Quint, launched earlier this year on the Quintype platform. “We are excited to have Mr. Bahl support our company as he has, and are looking forward to using the funds to grow the company even more, particularly from a business standpoint,” said Amit Rathore, founder of Quintype. “At Quintype, our goal is to make it just as easy to start a non-trivial media operation, as it is to start a blog. So, if you want to start a new online magazine, or a news site or app, or any other high-velocity content property, you’ll be able to do it in minutes.” The Quintype platform is a seamless, end-to-end SaaS service that brings together all the functionality you need to run a modern media business, including everything needed to create and distribute content, understand and grow your audience, and also monetize that content. Because they’re all seamlessly integrated, these various functions work together extremely well, letting publishers focus on their content business, while the Quintype platform manages all the technology heavy lifting. It includes functionality like cardification, collaboration and team workflow tools, advanced semantic analytics, personalization and recommendation systems, an advanced monetization engine, and several other modules. This SaaS offering lets media organizations reduce technology costs, while at the same time, leveraging big data and predictive analytics to increase revenue and profits. In fact, Quintype’s business model is unique. The entire state-of-the-art platform is available to anyone, free of cost. Quintype partners with publishers by making money through a revenue-share model, effectively aligning their interests with that of the publisher. Quintype only makes money when the publisher does. For years, publishers have been trying to get adept at gathering information about readers and audiences, in the interest of producing better content, and more effective advertising. However, online media has opened the floodgates to more information about behaviors and preferences. Reader data can reveal to a publisher and advertiser who they are and what speaks to that individual. It also allows publishers to define more-nuanced audience segments, an attractive proposition for advertisers as well. Quintype takes this first-party data to the next level. For more information about Quintype, visit www.quintype.com. About Quintype Quintype is a data-driven publishing company focused on digital media. Its seamless, end-to-end SaaS platform uses big data and artificial intelligence to manage all aspects of a modern online media operation. This data-driven approach lets media organizations reduce technology costs while at the same time leveraging data to increase revenue and profits. For more information, visit www.quintype.com.

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Quintype nabs $3.25 mln

NEA leads $76.5 mln funding in Blue Jeans Network

Mountain View, Calif.-based Blue Jeans Network, a provider of cloud-based video collaboration services, has raised $76.5 million in new funding led by New Enterprise Associates. Joining the round are previous investors Accel Partners, Battery Ventures and Norwest Venture Partners, as well as new investors Glynn Capital, Quadrille Capital, and the former baseball player Derek Jeter, among others. The company has now raised $175 million in total funding. PRESS RELEASE Blue Jeans Network Closes $76.5 Million Investment to Fuel Global Growth and  Power New Era of Video Collaboration For Meetings, Events, and Interactive Experiences NEA Leads Round with Participation from Accel Partners, Battery Ventures, Glynn Capital, Norwest Venture Partners, Quadrille Capital, and Derek Jeter September 23, 2015— MOUNTAIN VIEW, CA – Blue Jeans Network, the global leader in cloud-based video collaboration services, today announced it has secured $76.5 million in new funding led by NEA with participation from previous investors Accel Partners, Battery Ventures and Norwest Venture Partners, and new investors Glynn Capital, Quadrille Capital, and Derek Jeter among others. The new funding arrives as Blue Jeans achieves record growth across every critical business metric for the fourth straight year, including bookings (ARR), revenues, subscribers, meetings, minutes, participants and more. Blue Jeans has at least doubled, tripled, or quadrupled each of these metrics year-over-year, every year since it launched its service in 2011. Today the Blue Jeans Network provides more than 1 billion minutes of real-time video collaboration annually to over 25 million participants around the world. The new funding will help accelerate this growth with global market expansion in Europe, Asia and Australia, and support ongoing product innovation that sets the standard for visual collaboration and delivers an unparalleled customer experience. “Despite all the advances in modern technology, the human face is still the most powerful tool for business,” said Krish Ramakrishnan, CEO Blue Jeans Network. “As organizations have become more geographically dispersed, the need for video has become more critical than ever to establish and maintain meaningful connections, foster empathy and understanding, and improve communications. Our customers improve their productivity, save time and money, and build better relationships with Blue Jeans. We are so proud of how far we’ve come in a few short years, but we are not done yet. With this investment we are fueling up our tanks and preparing to step on the gas.” “Blue Jeans has rapidly become the leader in cloud-based video communication, and we are thrilled to lead their pre-IPO financing round,” said Jon Sakoda, general partner at NEA. “This team made the right bet five years ago, predicting that the emergence of cloud, video, and mobile technologies would rapidly expand the market for collaboration. They’ve executed tremendously well, delivering growth that ranks them among the fastest growing SaaS companies in history while continuing to disrupt the market incumbents with innovative new products and services.” Blue Jeans set the industry standard for video as a service when it first launched in 2011 and disrupted the market with its hallmark interoperability, providing the first, best, and only solution that could seamlessly connect business video conference room systems like Cisco and Polycom with consumer desktop and mobile solutions like Skype and Google. With these unique capabilities, great performance, and an easy to use interface, Blue Jeans disrupted the billion-dollar-a-year video bridging hardware (MCU) market as customers abandoned legacy hardware solutions for Blue Jeans’ cloud-based offering. The company has also seen tremendous adoption of its service as a “converged conferencing” solution that offers customers a single tool for their combined audio, video, and web conferencing needs. Customers no longer have to decide in advance if a meeting will be an audio, video, or web call and then use a different tool from a different vendor, with a different account and user interface. Blue Jeans provides them one tool that works whether people join over audio or video and whether or not they have presentations or other content to share. More recently, Blue Jeans has gained traction for its underlying platform and APIs which allow customers and partners to embed interactive video capabilities into their own applications and workflows. These capabilities are being used today by healthcare, training, and call center customers and have also been embedded in popular applications like Salesforce Chatter. In addition to Blue Jeans’ flagship meetings service, earlier this year the company released its second major product line, a large-scale interactive events and experience service called Blue Jeans Primetime. Blue Jeans Primetime extends Blue Jeans’ interactive video conferencing with new streaming capabilities to broadcast events to a worldwide audience, and includes the unique ability for the moderator to switch participant roles between active participant and passive observer, making it possible for speakers and their audiences to interact in brand new ways. In the few months since its launch Blue Jeans Primetime has seen success, not only providing existing customers with a new tool for their all-hands meetings, large training sessions, and marketing events, but also opening up new market opportunities in media, entertainment, and sports for early adopters like TED, The Sundance Film Festival, and The Players’ Tribune. With this unique portfolio of services for meetings, events, and experiences, Blue Jeans continues to provide tremendous value to its rapidly growing global customer base. Today almost 5,000 organizations ranging from high-growth startups, to the Fortune 100, to industry leaders in healthcare, education, technology, media, and entertainment use Blue Jeans every day to collaborate, boost business, and engage with their most important audiences. Customers such as Facebook, Sephora, Red Hat, The Wharton School at the University of Pennsylvania and Code.org are just a few that have saved approximately 7.5 billion travel miles, $3.3 billion in travel costs and 2.7 billion pounds of CO2 thanks to Blue Jeans. “When I met the Blue Jeans team, I was busy starting my new venture, The Players’ Tribune, a media site dedicated to helping athletes tell their own stories directly,” said Derek Jeter. “I was captivated by what Blue Jeans’ video could do to amplify the voice of our athletes. Now after working closely with the team, I share their vision and see the enormous potential that exists for interactive video events and experiences in business, sports, media, and entertainment.” This funding round brings the total overall financing for Blue Jeans to $175 million. About Blue Jeans Network At Blue Jeans Network, we aim to bring great minds together to meet, share ideas and reach their audiences through the power of video collaboration. By making video communication easy, secure and scalable, our customers can make online conversations, meetings and events personal again. Blue Jeans’ cloud-based platform has taken video into the mainstream, giving thought leaders in business, education, entertainment, and media the power to interact face-to-face with anyone, anywhere. Blue Jeans Network is a private company headquartered in Mountain View, California. For more information go to: http://bluejeans.com or follow the company on twitter @BlueJeansNet.

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NEA leads $76.5 mln funding in Blue Jeans Network