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FinanceTerm Sheet

Deals of the day: South Korea’s ‘Amazon’ grabs $100 million

By
Dan Primack
Dan Primack
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By
Dan Primack
Dan Primack
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May 29, 2014, 11:31 AM ET

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Venture Capital Deals

Coupang, a South Korean ecommerce giant (i.e., South Korea’s Amazon), has raised $100 million in new VC funding at a reported valuation in excess of $1 billion. Sequoia Capital and Sequoia Heritage co-led the round, and were joined by return backers Greenoaks Capital Management, Rose Park’s Disruptive Innovation Fund and LaunchTime.

ExtraHop, a Seattle-based provider of real-time wire data analytics, has raised $41 million in Series C funding. Technology Crossover Ventures led the round, and was joined by return backers like Meritech Capital Partners, Madrona Venture Group and Sujal Patel (founder of Isilon Systems). The company previously raised $20.6 million. www.extrahop.com

RiskIQ, a San Francisco-based provider of solutions for detecting online threats to a brand’s customers, has raised $25 million in Series B funding. Battery Ventures led the round, and was joined by return backer Summit Partners. www.riskiq.com

Trifacta, a San Francisco-based provider of enterprise data transformation solutions, has raised $25 million in Series C funding. Ignition Partners led the round, and was joined by return backers Greylock Partners and Accel Partners. www.trifacta.com

Newlans Inc.
, an Acton, Mass.-based developer of an analog wideband signal processing architecture for RF semiconductor applications, has raised $5 million in new Series B funding from Verizon Ventures. The round total now is $20 million, including an earlier close from Intel Capital, Paladin Capital and Lockheed Martin. www.newlans.com

Swipely
, a Providence, R.I.-based payment and analytics solution for local merchants, has raised $20 million in Series C funding. Pritzker Group Venture Capital led the round, and was joined by return backers First Round Capital, Index Ventures and Shasta Ventures. www.swipely.com

GrabTaxi, an automated smart-phone taxi booking platform in Southeast Asia, has raised $15 million in Series B funding. GGV Capital led the round, and was joined by Qunar and return backer Vertex Venture. www.grabtaxi.com

Rodin Therapeutics Inc., a Cambridge, Mass.-based biotech startup leveraging epigenetics to treat neurological disorders, has raised $12.9 million in Series A funding co-led by seed backers Atlas Venture and Johnson & Johnson Development Corp. www.atlasventure.com

MedCPU Inc
., a New York–based provider of enterprise clinical decision support solutions, has raised $9.3 million in Series B funding. Backers include Merck Global Health Innovation Fund, Easton Capital Investment Group and New Richmond Ventures. www.medcpu.com

Jobaline.com
, a Kirkland, Wash.-based mobile and bilingual hourly-jobs marketplace, has raised $7 million in Series B funding. Trilogy Equity Partners led the round, and was joined by Founders Co-op and return backers Madrona Venture Group and Rudy Gadre. www.jobaline.com

Tarsa Therapeutics Inc.
has raised $7 million in new Series B funding. Return backers include Foresite Capital, MVM Life Science Partners, Quaker Partners and Novo A/S. The Philadelphia-based company is planning to file a new drug application with the FDA for an oral calcitonin tablet for the treatment of postmenopausal osteoporosis. www.tarsatherapeutics.com

Lua, a New York-based digital communication and collaboration platform for mobile workforces, has raised $7.5 million in Series A funding. Abundance Partners led the round, and was joined by Strauss Zelnick (ZelnickMedia) and Aaron Stone (Apollo Global Management). www.getlua.com

Ecwid, a Russian provider of ecommerce solutions for physical retailers, has raised $5 million in Series B funding. iTech Capital led the round, and was joined by return backer Runa Capital. www.ecwid.com

Nix Hydra Inc., a Los Angeles-based developer of mobile games for women, has raised $5 million in VC funding from Foundry Group. www.nixhydragames.com

BlueConic, a Boston-based provider of a real-time system of online customer engagement, has raised $1 million in new Series A funding from CommonAngels. The company previously held a $3 million first close on the round led by Sigma Prime Ventures. www.blueconic.com

Matrixx Software, a Mountain View, Calif.-based provider of real-time business management software for communications service providers, has raised an undisclosed amount of new VC funding led by Telstra Ventures. Return backers include Greylock Partners, Adams Street Partners, Tugboat Ventures, Innovacom Gestion and Swisscom Ventures. www.matrixxsw.com

Private Equity Deals

FFL Partners has invested C$60 million for a stake in SNAP Financial Group, a Canadian consumer lender with a focus on home equipment loans. SNAP founders will retain a “significant financial interest” in the company going forward. www.snapfinancial.com

Hannon Armstrong Capital
has acquired American Wind Capital Co., an Old Saybrook, Conn.–based company that monetizes long-term, contracted ground rent/ground lease agreements in solar and wind projects. The deal was valued at $106.65 million, and managed by Marathon Capital. AWCC currently owns leases on more than 40 projects. www.americanwindcapital.com

Pfingsten Partners
has acquired ZSi-Foster, a Canton, Mich.-based maker of clamping and coupling products for the general industrial, fluid power, HVAC, refrigeration and electrical end markets. No financial terms were disclosed. www.couplers.com

Winchester Electronics Corp., a Middlebury, Conn.-based maker of connectivity solutions, has acquired TRU Corp., a Peabody, Mass.-based maker of RF connectors and cable assemblies. No financial terms were disclosed. Winchester Electronics is a portfolio company of Audax Private Equity. www.winchesterelectronics.com

IPOs

MobileIron, a Mountain View, Calif.-based provider of mobile device management software, has set its IPO terms to 11.11 million shares being offered at between $8 and $10 per share. It would have an initial market cap of around $672 million, were it to price in the middle of its range. The company reports a $33 million net loss on $105.5 million in 2013 revenue, compared to a $46 million net loss on $41 million in 2012 revenue. It plans to trade under ticker symbol MOBL, with Morgan Stanley listed as left lead underwriter. MobileIron has raised around $145 million in VC funding, from firms like Storm Ventures (20.2% pre-IPO stake), Norwest Venture Partners (19.5%), Sequoia Capital (16.9%), Foundation Capital (8.5%) and Institutional Venture Partners. www.mobileiron.com

TerraForm Power Inc., a Beltsville, Md.-based company formed to own and operate contracted clean power generation assets acquired from SunEdison (NYSE: SUNE) and unaffiliated third parties, has filed for a $50 million IPO. It plans to trade on the Nasdaq under ticker symbol TERP, with Goldman Sachs serving as lead underwriter. www.sunedison.com

M&A

Tyson Foods Inc. (NYSE: TSN) has offered to acquire Hillshire Brands Inc. (NYSE: HSH) for approximately $6.13 billion, exceeding a $5.52 billion offer for Hillshire from Pilgrim’s Pride Corp.(NYSE: PPC). In the meantime, Hillshire still has an agreement to acquire Pinnacle Foods Inc. (NYSE: PF) for approximately $6 billion in cash and stock (sellers on that deal would include The Blackstone Group, which holds a 51% stake in Pinnacle). Read more.

Apple (Nasdaq: AAPL) formally announced its agreement to buy Beats Electronics, a maker of headphones and a streaming music service, for $3 billion. The deal includes $2.6 billion in cash and a $400 million stock-based earnout. Sellers include The Carlyle Group, which last September invested $500 million into Beats at a valuation that The Wall Street Journal placed at “more than $1 billion.” Read more.

InsideSales, a Provo, Utah-based provider of cloud-based sales acceleration technology, has acquirediHance Inc., a San Francisco-based provider of email tracking and synching software. No financial terms were disclosed. InsideSales has raised in VC funding, from Kleiner Perkins Caufield & Byers, Acadia Woods, EPIC Ventures, Salesforce.com, Zetta Venture Partners, Polaris Partners, Hummer Winblad and U.S. Venture Partners. www.insidesales.com

Relational Investors has agreed to invest $150 million into Houston–based oil and gas companyMagnum Hunter Resources (NYSE: MHR), buying 21.4 million shares at $7 per share. It also will receive 2.1 million warrants at an $8.50 exercise price. Relational would hold around a 15% stake in Magnum Hunter, following the transaction. www.magnumhunterresources.com

VMG Partners has agreed to sell Speck Products, a Palo Alto, Calif.–based maker of slim protective cases for personal electronic devices, to Samsonite International SA for $85 million in cash. www.speckdesign.com

Willis Group Holdings PLC (NYSE: WSH) has completed its acquisition of Charles Monat Ltd., a Hong Kong-based based provider of life insurance solutions to high-net-worth clients. No financial terms were disclosed. www.monat.com

3i Group has sold Hilite International, a German-maker of automotive engine and transmission components, to a subsidiary of Aviation Industry Corporation of China, at an enterprise value for approximately €473 million. 3i reports that the sale represents a 2.1x multiple on invested capital. www.hilite.com

App Annie, a Hong Kong–based provider of app store analytics and market intelligence for the global app industry, has acquired Distimo, a Dutch app store analytics company. No financial terms were disclosed. App Annie shareholders include Sequoia Capital, IDG Capital Partners, Greycroft Partners, e.Ventures and Infinity Venture Partners. Distimo had raised VC funding from Wellington Partners. www.appannie.com

Flint Hills Resources, a subsidiary of Koch Industries, has agreed to acquire Houston–based propylene maker PetroLogistics (NYSE: PDH) for $2.1 billion in cash, or $14 per most shares (8% premium to Tuesday’s closing price). Shares held by the four largest PetroLogistics backers —Lindsay Goldberg, York Capital, chairman David Lumpkins and CEO Nathan Ticatch – will be purchased for $12 each. www.petrologistics.com

Man Group (LSE: EMG), the world’s largest listed hedge fund manager, confirmed that it is in talks to buy Boston-based fund manager Numeric Investors. No pricing terms were disclosed. Numeric shareholders include TA Associates. Read more.

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