Felicis Ventures, which has invested in companies like Rovio, Inkling, and Shopify, has launched a $70 million new fund. The firm has also promoted principals Renata Streit Quintini and Sundeep Peechu to partners.
“Sources say there has been a “bloodletting” at DTP, with numerous layoffs beginning this morning. Employees have been called in for individual meetings and entire teams have been cut from the payroll.” – Las Vegas Weekly
EBay announced today that it plans to spin-off PayPal into an independent, publicly-traded company in 2015. The current head of eBay Marketplaces will become the chief executive of the new eBay; former American Express executive Dan Schulman will join the new PayPal as its president and chief executive designee. [Source: eBay]