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li ka-shing

Magisto automates online video editing for you

Think about all that video sitting on your hard drive, all those clips of the kids, the vacations, the graduations, your karaoke parties. Now imagine actually doing something with it.

Enter the Web-based video-editing service Magisto, which today announced its public rollout, along with $5.5 million in a series B funding round led by Horizons Ventures, the private venture firm of Li Ka-shing, the world's 11th richest man.

Li, who has an estimated net worth of $26 billion, is known for making smart early-stage investments in companies like Facebook and Spotify. Magma Venture Partners, an original investor in … Read more

Report: Hong Kong gazillionaire increases stake in Facebook

Li Ka-shing, the Hong Kong telecom mogul who invested $60 million in Facebook last year, has upped his stake to $100 million and may invest even more, MarketWatch reported Thursday.

Facebook was valued at an eyebrow-raising $15 billion when Microsoft purchased a 5 percent stake at $240 million.

According to MarketWatch, Li made the initial announcement during the earnings call for his company, Hutchison Whampoa. "Facebook is doing very well and we could have some synergy between the 3G services of Hutchison and Facebook, so the customers could use Facebook on mobile phones," Li reportedly said.

Among Li'… Read more