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Capital Gains: Slack Is Worth $1 Billion, Lenovo Snags Motorola, and More

Plus funding news about Wealthfront, Rent the Runway, and more.

Vjeran Pavic

A lot of money got raised and a lot of deals were inked this week. Here’s a roundup of the funding headlines, brought to you by Re/code:

  • On Thursday, Lenovo finalized its $2.9 billion purchase of Motorola from Google. Motorola will remain a wholly owned subsidiary, based in Chicago.
  • The workplace communication company Slack raised $120 million in a funding round co-led by Kleiner Perkins Caufield & Byers and Google Ventures. This round values the company at $1.12 billion.
  • Wealthfront, a millennial-targeted investment advisory company, was valued at $700 million after a $64 million investment led by Spark Capital.
  • Rent the Runway, a startup that rents out designer clothing, looks to raise $50 million as it starts meeting with investors (Fortune). The company last raised $24.4 million in a series C funding round led by Conde Nast in 2013.
  • The wireless power company uBeam raised $10 million in a series A funding round led by the Los Angeles-based Upfront Ventures, with participation from existing investors, including Andreessen Horowitz, Mark Cuban and Ludlow Ventures. UBeam previously raised $1.7 million in seed funding.
  • Bitstrips, a startup that lets users turn pictures of themselves into text-message emojis, raised $8 million in a funding round led by Kleiner Perkins Caufield & Byers. This gives Bitstrips a total of $11 million in funding since December.
  • WeSwap, a startup that helps customers exchange currency before traveling, closed a $7.5 million series A funding round led by IW Capital (TechCrunch).
  • The ad-tech firm PowerLinks closed a “super seed” funding round of $2.75 million ( This is on top of a $1.25 initial seed round in 2012, giving the company a total of $4 million in funding.
  • The e-commerce analytics company Tandem raised $950,000 in funding from a group of angel investors (TechCrunch). The company’s founders were formerly the executives behind the Web-based music streaming company Grooveshark.

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