We had pointed to the joint venture structure in Europe as a possible hurdle complicating the deal; this hurdle has now been removed".
The joint venture structure will allow Cox to dodge a steep tax bill left over from the transaction it made with the media mogul John Malone in 2007 to exchange its interest in Discovery Communications for an interest in the Travel Channel.
'These structures - and the way that Elan accounts for them - are viewed with scepticism by investors and analysts.' The 'Elan Formula Model' has been allowed to survive new accountancy rules because, according to Wirth, the rules do not specifically address this particular joint venture structure.
Open image in new window Fig. 3 Joint venture structure in Beijing No. 4 subway line.
The No. 4 subway line will be transferred back to the Beijing government by 2039. Figure 3 illustrates the joint venture structure and investment agreement of the project.
Currently, Yahoo Japan is owned 40% by local telecommunications powerhouse SoftBank and 33% by Yahoo in the US, demonstrating a textbook perfect Japanese-foreign joint venture structure.
Within the new joint venture structure, the board of MAS-BCWLC (4 members from BCG and 3 from WASWSC) is the current decision-maker regarding planning (within the objectives set by the municipal master planning), investment and financing, partly replacing the tradition of government decision structures.
The startup is also announcing an additional round of $650,000 in seed funding from a number of investors including Dave Morin's Slow Ventures, Structure VC, Paul Buchheit and rapper Nas.
Fixed had raised $1.8 million in seed funding, including from Mark Cuban on Shark Tank, Dave Morin's Slow Ventures, Structure VC, Paul Buchheit, rapper Nas, and others.
Fixed is backed by $1.85 million in funding from Y Combinator, Merus Capital, Slow Ventures, Structure VC, Paul Buchheit, rapper Nas, Scott Banister, John Cobbs, Mark Randolph, Matt Humphries, Eric Wu, David King and others.
