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Tag: mln
Rocket Internet to raise EUR 750 mln in IPO
2014-09-10 10:37:00| Telecompaper Headlines
(Telecompaper) German start-up incubator Rocket Internet has announced plans for an initial public offering of shares. The listing on the Frankfurt stock exchange is expected to raise EUR 750 million to support future investments by the company. The offering will be entirely new shares, with existing shareholders such as Kinnevik, Access Industries, Holtzbrinck, United Internet and PLDT maintaining their stakes. Started in 2007, Rocket Internet claims as its mission "to become the world's largest internet platform outside of the US and China". It has invested in a wide range of consumer online services, focused on bringing internet business models to new countries and sectors. It's active in over 100 countries, with a particular focus on emerging and fast growing economies in Latin America, South East Asia, India and Africa.
Google to pay USD 19 mln to settle in-app charges complaint
2014-09-04 19:40:00| Telecompaper Headlines
(Telecompaper) Google has agreed to settle a Federal Trade Commission complaint alleging that it unfairly billed consumers for millions of dollars in unauthorised charges incurred by children using mobile apps downloaded from the Google Play app store for use on Android mobile devices. Under the terms of the settlement, Google will provide full refunds, with a minimum payment of USD 19 million, to consumers who were charged for kids' purchases without authorisation of the account holder. Google has also agreed to modify its billing practices to ensure it obtains express, informed consent from consumers before charging them for items sold in mobile apps.
Verizon to pay USD 7.4 mln to settle FCC data privacy probe
2014-09-04 09:27:00| Telecompaper Headlines
(Telecompaper) Verizon Communications has agreed to pay the Federal Communications Commission USD 7.4 million to resolve an investigation into the company's use of personal consumer information for marketing purposes. The FCC accused Verizon of failing to inform around two million new customers about their rights to opt out of having their information used for marketing purposes. The company didn't provide the required notices back in 2006 and didn't even become aware of the issue until September 2012. Verizon then failed to notify the FCC of the problem until 18 January 2013, some 126 days later, which is far in excess of the 5 business days the FCC requires. The fine is the largest payment ever received by the FCC in an investigation into the use of customers' personal information. Verizon will now be required to print opt-out notices on every bill for the next three years, not just the first one sent to customers.
Philippines Press-Five firms eye $92 mln transport terminal deal - BusinessMirror
2014-09-04 08:21:46| Beverages - Topix.net
Five companies, including conglomerate San Miguel Corp, developer Ayala Land Inc, and Megawide Construction Corp, are looking to bid for the 4 billion peso Integrated Transport System South Terminal project the government is offering to investors under its public-private partnership programme, the BusinessMirror newspaper quoted a government official as saying. NOTE: Reuters has not verified this story and does not vouch for its accuracy.
Tags: deal
transport
eye
firms
IndoorAtlas receives USD 10 mln investment from Baidu
2014-09-03 09:29:00| Telecompaper Headlines
(Telecompaper) IndoorAtlas, a provider in magnetic positioning technology for indoor location, agreed to a USD 10 million investment from Chinese search engine Baidu. IndoorAtlas also announced it is signing an exclusive agreement for the Chinese market with Baidu. Through this partnership, Baidu intends to strengthen its indoor mapping offering in China. The company will be using the funding towards ramping up R&D, engineering and business development in the US, Asia, and Europe.
Tags: investment
usd
receives
baidu
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