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JPMorgan to invest $500m in online media firms

JPMorgan is planning on starting a fund of between $500 million and $750 million to invest in internet and digital media companies, according to a news report. The Wall Street Journal reports that marketing materials were sent to prospective investors about two weeks ago.

The idea is to place bets on companies with established business models, such as Facebook, Zynga and Groupon, and steady revenue before they go public in widely anticipated stock sales. JPMorgan plans to buy and sell shares in these companies on behalf of clients, and will not directly invest the firm’s own money, one of these people said.


15/02/2011  |  Full story...

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