JPMorgan Chase's Fund for the Next Big Thing
JPMorgan Chase is placing its bets on social media. The firm is getting ready to put a new social media investment fund in place targeting Internet and new media ventures, Social Media Today writes.
Set to be unveiled Sunday, the fund “is meant to assist social media-related companies that have already established viable business models and revenue streams but have yet to undergo initial public offerings,” the story goes. It posits that the firm is out to “catch the next Groupon, LinkedIn, or Facebook,” and places it in relation to Goldman Sachs fundraising for Facebook.
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