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from the L.A. Times

Facebook co-founder Eduardo Saverin leads $8-million financing round for Qwiki

Facebook co-founder and billionaire Eduardo Saverin is one of the leading investors in an $8-million round of financing for Qwiki, software that verbally and visually presents information on computers from search queries, according to TechCrunch.

Saverin is known for starting Facebook with Mark Zuckerberg while the two were students at Harvard, and then being pushed out of the company with about a 5% share in hand.

Qwiki debuted its software -- which works sort of like a computer-generated teacher explaining information to users -- at the TechCrunch Disrupt conference. Saverin, TechCrunch said, watched Qwiki's demo at the event, see above, via a webcast from his Singapore home.

He then contacted and later met with Qwiki's founders and now he's an investor, TechCrunch reported.

But Saverin isn't the only investor with some history, the website said. Jawed Karim, a co-founder of YouTube, reportedly upped his stake in Qwiki from an earlier round of funding.

Qwiki has created some buzz particularly because its software generates presentations of information directly from computers -- humans don't produce visual layouts, embed videos or photos themselves or feed data to the software, it does all that on its own, the company said on its website.

The software is still in the early stages of development. A Qwiki iPad app is being worked on, TechCrunch said, and the company has also previewed an iPhone app on its Vimeo page.

ALSO:

Perfect Market, news ad firm, lands $9 million in funding round led by Comcast

Groupon looking to raise the largest round of equity financing since Pixar

-- Nathan Olivarez-Giles

twitter.com/nateog

Video: Qwiki via Vimeo.

 
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