The Xconomy SF Six: Beats, Fyusion, and Funding Deals
Here are the top six things we’re paying attention to in the San Francisco tech scene this week.
—San Francisco-based Fyusion, a startup that develops 3D image-processing technologies, announced a $3.35 million funding round led by New Enterprise Associates and UTEC. The company recently released a mobile app called Fyuse that allows users to create visual graph structures they’re calling “spacial photographs.” Fyuse is available in the iOS app store.
—The rumors are true: Apple has purchased audio device maker Beats and subscription streaming service Beats Music for a cool $3 billion. Beats’ co-founders, music producer Jimmy Iovine and legendary rapper Dr. Dre, will join Apple. Analysts say Apple is hoping the acquisition will help the tech giant catch up in streaming music.
—Earlier this week, Intuit said it will acquire Check, a Palo Alto-based maker of a mobile bill-pay app, for $360 million. The startup will join Intuit’s Consumer Ecosystem Group, and the transaction is expected to close in the fourth quarter.
—App Annie, a provider of rankings, analytics, and market intelligence, said this week that it has raised a $17 million funding round from existing investors IDG Capital Partners, Greycroft Partners, and Sequoia Capital. To date, the company has raised $39 million. App Annie has also acquired Amsterdam-based Distimo, a mobile analytics company, and will make its headquarters into App Annie’s European R&D center.
—On Thursday, Risk IQ, a company that helps brands police online threats to their customers, announced a $25 million Series B round led by Battery Ventures, with participation from Summit Partners. The company plans to use the funds for R&D, international expansion, and sales and marketing.
—Kleiner Perkins partner Mary Meeker delivered her annual Internet trends report earlier this week, with insights into mobile, the rise of China, and her thoughts on the bubble. You can find the slide deck here.