A Private Equity Firm Announces Plans to Buy WebMD
Plus, Michael Kors buys Jimmy Choo for $1.2 billion, and a tech-enabled food startup, The Town Kitchen, closes a $1 million seed round.
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The huge private equity firm KKR announced that it will buy the website all doctors ask you to stay away from for $2.8 billion. WebMD is one of the biggest leaders in online health, and will apparently be built into a KKR company called Internet Brands. The acquisition will help WebMD grow its footprint in the web health market even bigger.
Michael Kors bought Jimmy Choo for $1.2 billion. Michael Kors is known for its reasonably priced handbags, while Jimmy Choo is known for its luxury stilettoes. Jimmy Choo says it will continue to stay with its existing management team and that we can expect to see more Jimmy Choo retail stores in the near future.
The Town Kitchen, a high-growth food startup, closed a $1 million seed round. The Oakland, Calif.-based food company delivers corporate lunches made by top chefs and employs inner-city youths. The Town Kitchen also made Entrepreneur's 360 list last year. The recent round was led by the Urban Innovation Fund with plans to expand the food delivery service operations.
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