Topic:

New Deal

New Deal

Imgur Gets $40 Million Investment From Andreessen Horowitz

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One of tech’s most prolific venture capital firms, Andreessen Horowitz (or “A16Z”), has invested a sizable $40 million in image sharing giant Imgur, Betabeat has learned.

Imgur has been the subject of acquisition rumors for the past year, but has never taken outside money, regardless of how successful they’ve been. According to Imgur CEO and founder Alan Schaaf, Imgur has been approached by almost every VC on the map in the past five years.

“We’ve always been fighting them off,” Mr. Schaaf told Betabeat, “and the reason is because we never really found a good fit.” Read More

New Deal

Zynga CFO Dave Wehner Departs for Facebook as Social Gaming Company Shuffles Execs

Wehner.

David Wehner is out at Zynga and David Ko is up, as the social gaming company shook up its C-suite in an announcement after stock markets closed.

Mr. Wehner, who’s served as the company’s chief financial officer since coming over from investment bank Allen & Co. in 2010, may have lost Wall Street’s confidence after Zynga’s share price plummeted nearly 80 percent since the FarmVille maker’s IPO at $10 last December.

He’s not the first high-level employee to leave Zynga in recent months, nor have the departures been limited to the top executives: Zynga laid off about 150 employees last month, and it said it would shut down 13 games. Read More