Wednesday, September 30, 2009

Ripple Acquirer Raises Funds

Casting some additional light on the acquisition of El Segundo-based Ripple last week, acquiring firm TargetCast Networks revealed today that it has received a new round of venture capital worth $6.5M from one of Ripple's primary backers, Draper Fisher Jurvetson. According to TargetCast, which is based in the Bay Area, it received $6.5M from DFJ and its existing backer Claremont Creek Ventures, which the firm said would go towards expansion of its network. TargetCast had said Wednesday that it had acquired Ripple, and would combine the firms' operations. No financial terms of that buy were announced.