‘raises’ Tagged Posts

Peer-to-peer digicam rental startup KitSplit raises $2.1M

KitSplit, which operates a peer-to-peer market for inventive gear, is saying that it’s raised $ 2.1 million in seed funding. The gear obtainable...


KitSplit, which operates a peer-to-peer market for inventive gear, is saying that it’s raised $ 2.1 million in seed funding.

The gear obtainable for rental can embrace cameras, lights and lenses, but in addition VR gear and drones. Renters get entry to this gear for a lower cost (CEO Lisbeth Kaufman estimated mentioned KitSplit often prices 30 to 50 p.c lower than conventional leases), whereas the gear homeowners get to make some more money from gear after they’re not utilizing it.

I first wrote about KitSplit in 2016, and President Kristina Budelis (a former video producer for The New Yorker) mentioned that since then, the service has grown from 5,000 to 30,000 members. It’s additionally acquired one in every of its opponents, CameraLends.

Prospects embrace NBC, Vox and Nationwide Geographic. Based on Kaufman (daughter of Troma co-founder Lloyd Kaufman), KitSplit is being utilized in every kind of productions, however a few of the strongest curiosity is coming from digital media firms as they attempt to the meet the fixed calls for of on-line video manufacturing. (The trade’s “pivot to video” could also be hitting a rocky patch, however the want for video content material isn’t going away.)

Buyers within the seed spherical embrace HearstLab (which additionally invested in KitSplit’s pre-seed funding), Entrepreneurs Roundtable, 3311 Ventures, NYU Innovation Enterprise Fund, WTI, and Instagram co-founder Mike Krieger.

Amongst different issues, the funding ought to assist KitSplit proceed to increase its presence in Los Angeles — customers can hire gear wherever in america, however the firm is at present targeted on the NYC and LA markets.

Ultimately, Kaufman mentioned she desires KitSplit to change into a “one-stop store for content material creators.”

“We’re reimagining the Hollywood manufacturing studio as a neighborhood market,” she added. “We need to make sources like gear and staffing and site extra accessible to all content material creators.”

Budelis pointed to issues like KitSplit’s insurance coverage buy options, its concierge service (to assist with the logistics of truly transporting the gear) and its occasions as early indicators of how KitSplit is “beginning to dabble” in areas past simply being a market.

Featured Picture: KitSplit

China’s Didi Chuxing raises $7 billion in new funding: source


China's Didi Chuxing raises  billion in new funding: source

The round values ​​the company more than $ 25000000000, the Wall Street Journal reported earlier on Wednesday, referring to people familiar with the matter. (Http://on.wsj.com/28Ed9Sz)

Furthermore, Didi guarantee a $ 2.5 billion debt package from China Merchants Bank Co., the Journal said.

Didi signed a $ 4500000000 $ 1000000000 fundraising rounds that Apple Inc. and included $ 600 million from China Life Insurance Co Ltd <601628.SS>.

Didi and China Merchants Bank was not immediately available for comment.

(Reporting by Anya George Tharakan Bengaluru and Liana B. Baker in San Francisco, Editing by Shounak Dasgupta)

Time Warner 4Q earnings up, raises dividend 11 pct


NEW YORK (AP) â?? Time Warner Inc. said Wednesday that net income grew 51 percent over the last three months of 2012, even though revenues were largely unchanged. The rising cost of cable and satellite and higher incomes Ad TV channels to compensate for declining incomes film and business magazines.

The shares rose to the highest level in more than a decade in morning trading.

The TV sector contributed to the performance in the quarter as revenue rose 5 percent that he offset declines elsewhere. Studio Warner Bros company has a lower range in the most recent quarter, but he was able to report an operating profit of cutbacks. Economic Time Inc. magazine, the smallest of the three, has announced layoffs to reduced demand for the printed editions reflect.

Time Warner

said net income was $ 1.17 billion, or $ 1.21 per share, for the fourth quarter, an increase of $ 773 million, or 76 cents per share, a year earlier.

Adjusted for non-recurring items, earnings came to $ 1.17 per share. Who hit the amount of € 1.10 per share that analysts polled by FactSet expected.

income decreased slightly to $ 8.16 billion from $ 8.19 billion a year ago. Analysts were expecting revenue of $ 8.22 billion.

Time Warner

also announced Wednesday that it raised its quarterly dividend by 11 percent to 28.75 cents per share. It is payable March 15 to shareholders of record on February 28. He also said that the board of directors of the Company has $ 4 billion in buybacks, which tend to get the price of the shares to raise the remaining shareholders. The new authorization replaces the plans for the redemption that is in $ 3.5 billion in the result of repayments 1.1.2012-02.01.2013.

Time Warner

stock rose $ 2.34, or 4.7 percent, to $ 52.30 in morning trading after rising as high as $ 52.55 per hour, the highest level since February 2002 .

Time Warner

is the estimate of $ 60 million in costs this year due to a layoff announced approximately 500 employees of the company magazine, about 6 percent of the personnel division World 8000. The company tried to reduce costs to declines in income and the need to invest in ways to deliver content across multiple platforms and devices to display.

the fourth quarter revenue television Time Warner rose 5 percent to $ 3.7 billion.

The company was stronger in recent years, the U.S. cable and satellite have paid more for performing channels like TNT, TBS and CNN on their queues. The company also has more subscribers in the United States for pay channels HBO and has grown internationally through the television sector, had despite unfavorable exchange rates. The proceeds of these fees and subscription distribution rose by 7 percent.

Advertising revenue

networks increased 3 percent due to higher prices, listen more NBA games broadcast on Time Warner and CNN increased during the presidential election season. The sales of the licensed content and other decreased by 9 percent primarily due to a termination of the activities of TNT in Turkey.

Warner Bros. Studio, sales fell 4 percent to $ 3.7 billion, mainly due to the weakness of the lineup. Compared to the same quarter in 2011, sales of the original version of the final film Harry Potter and the video game “Batman:. Arkham City” outings rooms on the first “Hobbit” film and “Argo” near the most recent were not enough to offset these declines. But operating profit rose 29 percent to $ 552 million due in part to the decline in marketing and other from the date of release.

Time Inc. Magazine company saw revenue fell 7 percent to $ 967 million in advertising revenue fell and the company had more money from a collection company schools funds sold in early 2012. Subscription revenues remained flat.

The company expects 2013 adjusted earnings

to be in the low double-digit percentages, which takes into account an estimate of the costs of restructuring at Time Inc. It was 3.28 per share in 2013, which means that the projected range is $ 3.61 to $ 3.77. Analysts were expecting earnings of $ 3.66 per share for 2013.