How Microsoft’s Monitronics, a company with no employees, raised $1.2B in financing
Microsoft’s monitronic subsidiary Monitronic International Corporation is about to become a publicly traded company.
The company’s parent company, the International Data Corporation, announced that it raised $3.8 billion in Series A financing from the Hong Kong-based Chinese Internet company Tencent.
The financing was announced on Tuesday in a regulatory filing with the Securities and Exchange Commission.
Monitrones chief executive officer Jia Zhu was previously a vice president at Tencent’s mobile phone division and the chairman of its Internet business.
The investment comes as the company is working on a wide range of products and services, including online gaming and a data-storage platform that will allow businesses to store large amounts of data and stream video content from their servers.
The funding comes as Monitronees data storage platform, Monitronix, has been making waves with investors.
Its technology, which it says will store more than 100 petabytes of data per second, has also made headlines with critics calling it a data dumpster.
In addition to Tencent, Monitonronics has raised a number of other investors including Alibaba Group Holding Ltd., and Baidu Inc. The monitronics funding comes a month after Monitones technology was named one of the best technology acquisitions of the year by Forbes magazine.