The Baryshnikov Arts Center has received a gift of $3 million from the Rudolf Nureyev Dance Foundation. Board Chairman Barry Weinstein said the gift would keep Rudolf Nureyev's name alive while supporting the center's mission. The gift will also help the center build its endowment, which could lead to future gifts, added Executive Director Georgiana Pickett. "Once you have the base, it is easier to approach other people to add to it," she said.
An online security startup called Authy has raised $3 million for technology that could potentially help to prevent the kinds of security breaches that led to the theft and publication of celebrity photos. When users try to log in to their accounts, they are asked to enter a code that is delivered to their mobile devices in addition to inputting a user name and password.
The Wine Business Institute at California's Sonoma State University has received a $3 million donation to fund the construction of a new mixed-use facility. The new center will be named the Wine Spectator Learning Center after donor Marvin R. Shanken, editor and publisher of Wine Spectator magazine. The university aims to raise $10 million for construction of the building, set to begin next year.
Koko Black, a boutique chocolate maker, received a $3 million investment from Melbourne's North Innovation and Investment Fund and will use the money for a new regional headquarters and a research and development center for product innovation, which will create over 100 new employment opportunities. The company started in 2003 and has grown to 10 stores in Australia with plans to expand into New Zealand, Singapore and Hong Kong.
Developers Diversified Realty plans to shift its business model to strategic investments, as opposed to the big portfolio acquisitions it has made in the past. According to CEO Daniel Hurwitz, those huge portfolio deals burdened DDR with more than $7 billion of debt in 2008 alone.