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YOWZA: Tech Companies Spent $20 Billion Acquiring Software Firms Last Quarter
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Sun, 01 May 2016 13:47:04 -0400
Sun, 01 May 2016 13:47:04 -0400
Julie Bort
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Fandango Acquires Rotten Tomatoes and Flixster
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Comcast's Fandango acquires Rotten Tomatoes and Flixster to build movie-discovery empire
Jason Guerrasio
2016-02-17T20:05:42Z
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Fandando, the nation's leading movie-ticket platform, announced Wednesday that it has acquired Rotten Tomatoes and Flixster from Warner Bros. Entertainment. Rotten Tomatoes is the most popular online aggregator of movie and TV reviews from professional critics and fans. Flixster is a website and mobile app for discovering movies, with more than 50 million app installs.
“Flixster and Rotten Tomatoes are invaluable resources for movie fans, and we look forward to growing these successful properties, driving more theatrical ticketing and super-serving consumers with all their movie needs,” said Fandango President Paul Yanover in a statement about the deal. “Our new expanded network will offer unparalleled capabilities for all of our exhibition, studio, and promotional partners to reach a massive entertainment audience with innovative marketing and ticketing solutions that benefit from original content, home entertainment products, ‘super tickets,’ gifts with purchase, and other new promotional opportunities.”With this acquisition, Fandango’s combined audience reach will grow to more than 63 million unique visitors per month, according to its release, which did not specify how much it acquired the brands for.Warner Bros. Entertainment will take a minority ownership stake in Fandango and serve as an ongoing strategic partner. Fandango will continue to operate as a unit of NBCUniversal/Comcast.
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Hasbro in Talks to Acquire DreamWorks
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REPORTS: Hasbro Is In Talks To Acquire DreamWorks Animation
Myles Udland
2014-11-13T02:29:00Z
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DreamWorks CEO Jeffrey Katzenberg.
Getty Images / Larry Busacca
Hasbro is in talks to acquire DreamWorks Animation, according to a report from Deadline.com.
Deadline reports that DreamWorks and Hasbro are in talks to create a combined family entertainment company that would be called DreamWorks-Hasbro, and says the deal is at least 60 days away from being finalized.DreamWorks currently has a market cap of about $1.9 billion and is the studio responsible for producing animated films including, "Shrek", "Madagascar", and "How to Train Your Dragon."Deadline's report said DreamWorks CEO Jeffrey Katzenberg is looking for Hasbro to pay $35 a share for the company, which would be more than a 50% from the $22.37 that DreamWorks shares closed at on Wednesday.The New York Times, citing a person briefed on the matter, is also reporting that Hasbro and DreamWorks are in talks regarding a deal. That report said only that Katzenberg is seeking a deal worth more than $30 a share.
These reports come about six weeks after The Wall Street Journal reported that Japanese conglomerate SoftBank was in talks to acquire DreamWorks, though the Journal later reported that these talks cooled for reasons that weren't known at the time. The Times' report on Wednesday also said it isn't clear why those talks broke down.Deadline also reported that in a separate deal, DreamWorks is looking to form a joint venture with The Hearst Corporation involving its AwesomenessTV arm. DreamWorks acquired AwesomenessTV for more than $100 million in May 2013. AwesomenessTV operates a network of YouTube channels.
Deadline broke the news after 8:00 pm ET, which is when stocks no longer trade in the after hours, but shares of DreamWorks are likely to rise sharply on Thursday following the news. You can read Deadline's report here, and The New York Times report here.
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Microsoft LinkedIn Acquisition Closes: Next Steps
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Microsoft just finalized its deal for LinkedIn — here's what happens next
Matt Rosoff
2016-12-08T14:30:10Z
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Jeff Weiner (left), Satya Nadella (middle), Reid Hoffman (right)
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Microsoft's $26.2 billion acquisition of LinkedIn, which was announced back in June, finally closed on Thursday — and Microsoft CEO Satya Nadella has now outlined how the two companies plan to integrate their products.As expected, the companies will integrate LinkedIn's Sales Navigator tool for sales representatives into Microsoft's customer-relationship-management tool, Dynamics, which was the main reason for the buy.
This integration is the main concern of the CRM leader Salesforce, which is now trying to persuade European regulators to block or impose certain conditions on the Microsoft-LinkedIn deal, claiming it would shutter access to LinkedIn's data.Some of the other integration points are predictable, like integrating LinkedIn notifications into Windows and integrating LinkedIn's identity system into the Office 365 suite so people will be able to see and use LinkedIn information in their workflow.But there are also a couple of surprises that relate to Microsoft's online business.For instance, Nadella said the companies would develop a "business news desk" across MSN and other properties and would extend the reach of sponsored content — presumably allowing MSN advertisers to buy space on LinkedIn, which boasts more than 100 million visitors a month.
Here's Nadella's full note:Today is an exciting day, one I’ve been looking forward to since June. It marks the close of the agreement for Microsoft to acquire LinkedIn and the beginning of our journey to bring together the world’s leading professional cloud and the world’s leading professional network.As our two companies’ leadership teams have spent time together these last few months, I’ve gained a deeper understanding of and appreciation for LinkedIn’s relentless focus on its members.Today I am even more enthusiastic about the common mission and sense of purpose we share, the similarities in our cultures, and the added value we can create for LinkedIn members, to help professionals transform how they work, realize new career opportunities and connect in new ways.In June we outlined our shared vision for the opportunity ahead and since then, our teams have worked hard to build an integration plan.In the immediate term we will pursue a specific set of integration scenarios, for example:LinkedIn identity and network in Microsoft Outlook and the Office suiteLinkedIn notifications within the Windows action centerEnabling members drafting résumés in Word to update their profiles, and discover and apply to jobs on LinkedInExtending the reach of Sponsored Content across Microsoft propertiesEnterprise LinkedIn Lookup powered by Active Directory and Office 365LinkedIn Learning available across the Office 365 and Windows ecosystemDeveloping a business news desk across our content ecosystem and MSN.comRedefining social selling through the combination of Sales Navigator and Dynamics 365As we articulated six months ago, our top priority is to accelerate LinkedIn’s growth, by adding value for every LinkedIn member.However, we also see a greater opportunity to help ensure that everyone can benefit from digital technology and the new opportunities created by the digital economy. As Brad Smith recently shared, Microsoft – inclusive of LinkedIn – can take steps to help people develop new skills online, find new jobs and easily connect and collaborate with colleagues. Technology alone will not solve these challenges, but together, working across private and public sectors, we can create more opportunity for everyone to participate and share in economic growth.On behalf of the entire Microsoft team, I want to extend a warm welcome to every LinkedIn employee to Microsoft.I am energized and optimistic for what we can achieve together and the journey ahead.
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CONFIRMED: Skype to Acquire Qik for $150 Million
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CONFIRMED: Skype To Acquire Qik For $150 Million
Nicholas Carlson
2011-01-06T18:51:00Z
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Marc Andreessen and Ben Horowitz are investors in both Skype and Qik.
Update: A second source just confirmed the news, and told us that with an earnout, the price is $150 million.Earlier: Internet phone giant Skype has acquired Qik, the service that lets you stream video from your smartphone, for around $100 million, a source tells us.
Skype will probably announce the news this week at the Consumer Electronics Show in Las Vegas, this source says.We've reached out to Qik and Skype for confirmation but have not heard back. This is a reliable source, however, who has been correct about big acquisitions in the past.Qik had a huge 2010. According to the company blog, it started the year with 600,000 users and ended with 5 million. The huge bump came in large part thanks to partners like Sprint, T-Mobile, Nokia, and Samsung. That makes the hero of today's deal a guy named Bob Rosin, the company's EVP of business and corporate development. He's the one who nailed down all those deals.Qik is also considered the best video streaming option for Google's mobile OS, Android, which exploded in popularity this year.
With Skype, Qik shares influential startup investors Marc Andreessen and Ben Horowitz. We're just speculating, but we assume that helped get the deal done.Other Qik investor who made some money for their LPs today include Quest Venture Partners andCampVentures, which invested $5.5 million in 2009. Individual investors include Salesforce.com CEO Mark Benioff, George Garrick, and Arjun Gupta.
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Facebook Acquisitions and Shares S-1
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Now We Know How Many Millions Of Dollars These Startups Made Selling To Facebook
Alyson Shontell
2012-02-02T21:54:00Z
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Joi via Flickr
Over the past four years, Facebook has acquired about 20 companies. Most of the acquisition amounts were never disclosed.Facebook's S-1 reveals how many shares of Class A and Class B stock it issued for each acquisition. It also says it spent $68 million to acquire startups in 2011.
The S-1 doesn't say which companies were given which shares, but Inside Facebook took a good stab at matching the startups up with the issued stock dates. We also looked at Facebook's acquisition timeline and made some guesses of our own.According to the filing, Drop.io may have received close to $40 million in stock, not the $10 million that was initially reported. FriendFeed was given ~ $330 million in Facebook stock.Please keep in mind that the following matches are educated guesses. They also do not include any cash Facebook may have paid the startups. If you know for a fact which company belongs to which statement, please email [email protected]'s how much Gowalla, Drop.io, FriendFeed and others really made selling to Facebook >>*Note: Pursuit and RecRec weren't actual business acquistions, so they were not included in this list, even though most of their teams were bought/hired by Facebook.
Also, the following numbers do not include cash-based compensation or other bonuses. Class B shares and Class A shares are issued to acquired companies, and they were valued at $29.73 per share in late December. Inside Facebook notes that one Class B share is equal to a Class A share, but Class A shares have one-tenth the voting power.
In August 2009 Facebook issued 11,052,955 shares, now worth ~ $330 million, probably to buy FriendFeed
Bret Taylor is now Facebook's CTO.
FriendFeed was: A feed that gives users a stream of news about what their friends are doing from 23 other networks like Digg, YouTube and Flickr.Founders: Paul Buchheit (creator of Gmail and the motto, "Don't be evil"), Bret Taylor, Jim Norris, Sanjeev SinghDate acquired: August 10, 2009Investors: Benchmark CapitalSold for: When news of the acquisition broke, Zuckerberg was said to have "really wanted Bret on staff." The rumored amount was for $50 million.According to the S-1, Facebook issued 11,052,955 shares of Class B common stock to "ten individuals and one entity in connection with an acquisition of all the outstanding shares of a company." Given the time frame, that company was likely FriendFeed, and the shares are now worth an estimated $328,604,352.Source: Paidcontent, Inside Facebook
In May 2010, Facebook issued 3,625,000 shares, now worth ~ $110 million, probably to buy Friendster's patents
Friendster was: A social networking site that was acquired by MOL Global in 2009 for $26.4 million and it became a social gaming site.Founders: Gordon Mohr, Jonathan AbramsDate acquired: reported on August 4, 2010Investors: Benchmark Capital, Kleiner PerkinsSold for: Facebook's S-1 states: "On May 18, 2010, we issued 3,625,000 shares of our Class B common stock as consideration to a company in connection with our purchase of patents from the company. Given the time frame and the fact that it wasn't written as an acquisition, this statement could be referring to the purchase of the 18 patents Friendster owned. Those shares are worth an estimated $107,771,250.Friendster owned all of the following (via Wikipedia):System, method and apparatus for connecting users in an online computerMethod of Inducing Content Uploads in a Social NetworkSystem and Method for Managing Connections in an Online Social NetworkCompatibility Scoring of Users in a Social NetworkMethod for sharing relationship information stored in a social network
In June 2010, Facebook issued 238,000 shares, now worth ~ $7 million, probably to buy ShareGrove...
Adam Wolff cofounded Sharegrove
Laszlonian via Flickr
ShareGrove was: A smaller social network that creates private groups for friends and families to share content.Founders: Kent Libbey, Adam Wolff (only Wolff joined Facebook)Date acquired: May 26, 2010Investors: Elm Street VenturesSold for: Facebook spokesman Larry Yu says Sharegrove was acquired mostly to obtain cofounder Adam Wolff, but the acquisition amount was never announced.
Or it could have gone to Nextstop.
Carl Sjogreen cofounded Nextstop
Twitter
Nextstop was: Social travel recommendations that mixes gaming, search and social elements.Founders: Charles Lin, Carl Sjogreen, Adrian Graham (Xooglers who created Google Calendar and Google Groups)Date acquired: July 8, 2010Investors: Sequoia CapitalSold for: Reports said the company was acquired by Facebook for ~ $2.5 million. Sjogreen is now Facebook's director of product management. If the 238,000 went to Nextstop, the shares it earned are now worth about $7,075,740.
In July 2010 Facebook issued 590,900 shares, now worth $17.5 million, probably to buy Hot Potato.
Hot Potato was: A way to connect family and friends in real-time around live events.Founders: Saadiq Rodgers-King and Justin ShafferDate acquired: July 19, 2010Investors: RRE Ventures, Ron Conway, Ken and Ben Leher, Josh and Jared Kuschner, Hunch's Chris Dixon, Facebook's Dave Morin and others.Sold for: Reports stated the acquisition price was about $10 million. The Facebook S-1 states: "On July 7, 2010, we issued 590,900 shares of our Class B common stock as consideration to a company in connection with our purchase of certain assets from the company." If that company was Hot Potato, the shares are worth about $17,567,457. Shaffer has worked on Places and Groups for Facebook.
In August 2010, Facebook issued 289,350 shares, now worth ~$8.6 million, probably to buy Chai Labs
Gokul Rajaram cofounded Chai Labs.
Flickr
Chai Labs was: A content management system that uses algorithms to help publishers create interesting content. Founders: Gokul Rajaram, Giri RajaramDate acquired: August 15, 2010Investors: Joe Kraus (Google Ventures), Marc Andreessen (Andreessen Horowitz) and Reid Hoffman (Greylock Partners/LinkedIn founder).Sold for: Reports estimated the acquistion price at ~ $10 million. If Facebook issued the 289,350 shares to Chai Labs, it would be worth ~ $8,602,375. Rajaram now heads up Facebook's advertising team.
In October 2010 Facebook issued 1,309,284 shares, now worth ~ $40 million, probably to buy Drop.io
Drop.io founder Sam Lessin was acqui-hired for $10 million.
Drop.io was: Free filesharing pages.Founder: Sam LessinDate acquired: October 29, 2010Investors: RRE Ventures and DFJ GothamSold for: Initial reports pegged the Drop.io acquisition price at $10 million. But Facebook's S-1 states: "On October 29, 2010, we issued 1,309,284 shares of our Class B common stock as consideration to a company in connection with our purchase of certain assets from the company."As Inside Facebook states, Lessin was a long-time friend of Mark Zuckerberg who later led the Timeline profile redesign project. If Lessin and Drop.io were issued those shares, they are now worth ~ $38,925,013.
In November 2010 Facebook issued 350,000 shares, now ~ $10.5 million, probably to buy Walletin
Cory Ondrejka
Walletin was: It's unclear. The startup was still in stealth mode when Facebook acquired it.Founders: Bruce Rogers and Cory OndrejkaDate acquired: November 16, 2010Investors: N/ASold for: The acquisition price was never disclosed, but if Walletin received the 350,000 issued shares, they're worth about $10,405,500. Ondrejka is now building Facebook's HTML5 app platform.
In December 2010 Facebook issued 1,030,000 shares, now worth ~ $30.6 million, probably to acquire Relation8
Peter Wilson cofounded Rel8tion
Relation8 was: A hyper-local mobile advertising service.Founders: Peter Wilson and Scott HannanDate acquired: January 25, 2011Sold for: The acquisition amount was never disclosed, but Facebook's S-1 notes it issued shares that may have been given to Wilson and Hannan in exchange for Relation8."On December 15, 2010," it states, "we issued 1,030,000 shares of our Class B common stock as consideration to two individuals in connection with our acquisition of all the outstanding shares of a company." Those shares are worth about $30,621,900.
In February 2011 Facebook issued 681,357 shares, now worth ~ $20.3 million, probably to acquire Beluga
belugapods.com
Beluga was: Group text messaging service.Founders: Jonathan Perlow, Lucy Zhang, Ben DavenportDate acquired: March 2, 2011Sold for: The amount was never disclosed, but it looks like the founders were given a good chunk of stock in exchange for the acquisition. The Facebook S-1 states: "On February 28, 2011, we issued 681,357 shares of our Class A common stock as consideration to a company in connection with our purchase of certain assets from the company." Those options may have been issued to Beluga and they're now worth ~ $20,256,744.
In April 2011 Facebook issued 1,659,430 shares, now worth ~ $50 million, probably to acquire Snaptu to acquire
Snaptu used to: Turn your favorite websites into ultra fast mobile apps that work on your phone.Founders: Ran Makavy (CEO), Barak Naveh (CTO)Reported date of acquisition: March 20, 2011Investors: Carmel Ventures and Sequoia CapitalSold for: Reports pegged the acquisition price at $60-70 million (although some estimates were lower at $40 million). According to Facebook's S-1, Snaptu may have received ~ $49,334,854 in issued stock. "On April 5, 2011, we issued 1,659,430 shares of our Class A common stock as consideration to 13 individuals and six entities in connection with our acquisition of all the outstanding shares of a company." Inside Facebook notes that the high individual count and number of shares hints at Snaptu, which was reported as one of Facebook's most costly acquisitions.
In August 2011 Facebook issued 75,426 shares, now worth ~ $2.2 million, probably to acquire Daytum
Daytum was: Tools to record personal data and create visualizations from it.Founders: Nicholas Felton, Ryan CaseDate acquired: April 27, 2011Sold for: The acquisition price was never reported, but Daytum may have received the 75,426 shares of stock Facebook issued a few months later in August, although this seems unlikely. The shares are now worth ~ $2,242,414. Feltron, Inside Facebook reports, had a big job working on Timeline and presented at the F8 conference.
It's also possible the $2.2 million worth of shares went to Push Pop Press
Push Pop Press
Push Pop Press was: A maker and publisher of digital books.Founders: Mike Matas and Kimon Tsinteris (former Apple employees)Date acquisition was reported: August 2, 2011Sold for: The acquisition price was never reported, but Push Pop Press was the likely recipient of the 75,426 shares Facebook issued last August.The S-1 states: "On August 1, 2011, we issued 75,426 shares of our Class A common stock as consideration to three individuals in connection with our acquisition of all the outstanding shares of a company."
In October 2011 Facebook issued 360,883 shares, now worth ~ $10.7 million, probably to acquire Strobe
Strobe was: A platform that supported mobile apps across multiple devicesFounder: Charles JolleyDate acquisition was reported: November 8, 2011Investors: $2.5 million from Hummer Winblad and O'Reilly AlphaTech VenturesSold for: The acquisition price wasn't reported, but it's possible the company received the 360,883 issued shares of Facebook Class A common stock on October 7, 2011. The S-1 says those shares were given to "21 individuals and 8 entities in connection with our acquisition of all the outstanding shares of a company." Those shares are currently worth ~ $10,729,051.Gowalla and Friend.ly were also acquired around that time though, so these may have been granted to either of those companies instead.
In October 2011 Facebook issued 183,750 shares, now worth ~ $5.5 million, probably to acquire Friend.ly
Stanford
Friend.ly was: A Q&A platform for friends where they can get to know each other via questions.Founders: Bryan Guillemette, Ed BakerDate acquisition was reported: October 10, 2011Investors: $5 million from Ron Conway, Softbank, Lightspeed and othersSold for: The acquisition price wasn't reported, but it's possible the company received the 183,750 shares of Class B common stock issued on October 10, 2011.The S-1 says those shares were given to "a company for a license of certain technology from the company." Those shares are currently worth ~ $5,462,887.Gowalla and Strobe were also acquired around that time though, so these may have been granted to either of those companies instead.
In January 2012 Facebook issued 90,000 shares, now worth ~ $2.7 million, probably to acquire Gowalla
Joi via Flickr
Gowalla was: Gowalla was a social mobile check-in platform, much like Foursquare.Founders: Scott Raymond and Josh WilliamsDate acquisition was reported: December 3, 2011Sold for: TechCrunch pegged the acquisition price at about $3 million in Facebook stock. There are three line items between October and January in Facebook's S-1 that could have been issued to Gowalla. The most likely deal occured on January 3, 2012, when Facebook issued about $2.7 worth of stock. The S-1 states: "On January 3, 2012, we issued 90,000 shares of our Class A common stock as consideration to four individuals and 13 entities in connection with our purchase of certain assets from a company."
MYSTERY: Yesterday, Facebook issued 212,250 shares, now worth ~ $6.3 million, to acquire an unknown startup
According to the S-1, Facebook issued 212,250 shares of Class A common stock to a mystery company yesterday. It states: "On February 1, 2012, we issued 212,250 shares of our Class A common stock as partial consideration to two entities in connection with our purchase of certain assets from a company." Those shares are worth about $6,310,193.
BONUS: Parakey was Facebook's first acquisition back in 2007 but the number of shares issued wasn't disclosed in the S-1.
Blake Ross is cofounder of Parakey
indieflikr via Flickr
Parakey was: A new way for people to work seamlessly on applications both on and offline.Founders: Blake Ross, Joe Hewitt (the creators of Mozilla Firefox browser)Date acquired: July 19, 2007Investors: Sequoia Capital, O’Reilly AlphaTech Ventures, MSD Capital, YCombinator, Thomvest, Paul Buchheit, Ron Conway and Warren ZideSold for: N/A, acquisition amount and stock option grants were not disclosed in the S-1.Source: VentureBeat
BONUS: Facebook acquired two-person Octazen but the number of shares it issued wasn't disclosed in the S-1.
Octazen was: A contact importer that enabled Facebook users to invite their friends to sign up.Founders: Kenneth Foo (CEO) and cofounderDate acquired: February 19, 2010Sold for: N/A, not mentioned in the S-1
BONUS: Facebook acquired Divvyshot in March 2010 but the amount of issued stock was not disclosed in the S-1.
Divvyshot founder Sam Odio
Sam Odio
Concept: Make group photo sharing easier.Founders: Sam OdioDate acquired: March 2, 2010Investors: Y-combinator-backedSold for: The amount of the acquisition was not disclosed, but TechCrunch says it was a talent acquisition and that the amount was "likely small."
Speaking of Facebook millionaires, check out:
Facebook's First 20 Employees: Where Are They Now?
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Facebook Acquires Popular GIF Database Giphy for Reported $400 Million
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Facebook acquires popular GIF database Giphy for reported $400 million
Paige Leskin
2020-05-15T14:40:53Z
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Facebook is acquiring Giphy, the popular GIF database, both companies confirmed Friday.Giphy will become part of the Instagram team, and its GIF library will continue to be operational and usable on partnering apps and platforms.News outlets are reporting the deal was valued between $300 million and $400 million.Visit Business Insider's homepage for more stories.
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Facebook is acquiring Giphy, the popular service used by consumers to create the short, looping 'GIF' animations that litter social media, in a surprise deal reportedly valued between $300 million and $400 million.The move, which represents one of Facebook's largest deals in years, gives Facebook control of an important content-creation tool that keeps users engaged on its various apps, as well as valuable data that shows how consumers are using competing services. Giphy, a New York-based startup founded in 2013, will be folded into the team at Facebook-owned Instagram, Facebook said in a blog post on Friday. The company said that Giphy's vast library GIFs will continue to operate separately.A Facebook spokesperson told Business Insider that the deal closed on Friday morning.
The companies did not disclose how much Giphy sold for, but news outlets pegged the price at between $300 million and $400 million. That would represent a steep discount to Giphy's last valuation as a private company in 2017, when Giphy fetched at $600 million valuation, as reported in Business Insider, after raising $150 million in funding.The timing of the deal — amid the coronavirus pandemic that has squeezed many startups and big businesses alike — may have allowed Facebook to snap Giphy up at a bargain price. Facebook had unsuccessfully tried to acquire Giphy in 2015, according to CNBC.The acquisition also comes at a time when Big Tech companies, including Google and Amazon, have come under growing antitrust scrutiny from regulators and politicians. In April, David Ciciline, the chairman of the US House of Representatives Antitrust Committee, called for a temporary ban on mergers during the coronavirus pandemic."By bringing Instagram and GIPHY together, we can make it easier for people to find the perfect GIFs and stickers in Stories and Direct," Facebook executive Vishal Shah wrote in the post. "A lot of people in our community already know and love GIPHY. In fact, 50% of GIPHY's traffic comes from the Facebook family of apps, half of that from Instagram alone."
Gipyhy also said that third-party apps that have integrated the GIF library into their platforms will still be able to do so. Partnering platforms who use Giphy include Tinder, Twitter, Snapchat, and
Slack
. Instagram and Facebook have also long used GIPHY to provide GIFs in Instagram Stories and Direct Messages, as well as Facebook Messenger."Based on the success of those collaborations (and many others) we know that there are exciting times ahead of us," Giphy wrote Friday in a blog post on Medium. "GIPHY's GIFs, Stickers, Emojis, etc. aren't going anywhere. We will continue to make GIPHY openly available to the wider ecosystem."
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Time Inc. Acquires Myspace
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Myspace was just acquired by 94-year-old magazine company Time
Lara O'Reilly
2016-02-11T14:13:47Z
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"Myspace Tom" Anderson, the cofounder of Myspace.
MySpace
Time Inc., the owner of Time, Fortune, and People magazines, has acquired Viant, the parent company of Myspace.Joe Ripp, chairman and CEO of Time Inc., described the acquisition as "game changing" in a press release.
The financial terms of the deal were not disclosed.For Time Inc., this acquisition is all about the data. Ad network Specific Media, another Viant-owned company, scooped up Myspace for $35 million in 2011. Its previous owner before that was News Corp, which bought Myspace for $580 million back in 2005.In buying Myspace, Viant amassed a database of more than 1 billion registered users. While not all of those people may have kept the same email address from their Myspace days, it still has an enviable treasure trove of first-party data.
First-party data is considered the holy grail when it comes to advertising online because it means marketers know they are serving ads to the actual consumer they want to be targeting, rather than making probabilistic bets based on browsing behavior.It's that registration data that led to Viant launching its Advertising Cloud in 2014, which contains an "identity-management platform." This platform allows marketers to connect their own databases with Viant's data and it also contains a demand-side ad platform, an ad server, and a data-analytics platform.Tim Vanderhook, Viant CEO, told Business Insider last year that the company's revenue was in the "hundreds of millions," having grown 20% year-on-year.What Time plans to do with Viant (and Myspace)In the press release, Time says the acquisition will help the company: "Targeting ad delivery to the optimal audiences; linking devices back to real people; converting ad spending to actual sales and closing the ROI loop."
Viant gives Time an immediate leg-up compared to its competitors when it comes to ad tech and provides a first-party data set that, in Time's own words, "rivals industry leaders Facebook and Google."What it plans to do with Myspace, which still attracts tens of millions of visitors each month and counts pop star Justin Timberlake among its investors, remains to be seen.Time Inc. reported its quarterly earnings on Thursday. Revenue fell 2% year-on-year to $877 million in the three months to December 31.Net income fell to $17 million, down from $145 million in the year-ago quarter. Meanwhile, digital-advertising revenue grew 17% to $102 million.
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VA's New Data Security Push — Verizon's AOL Acquisition and the IoT — Google's New Self-Driving Car Stats
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The VA's new data security push — Verizon's AOL acquisition and the IoT — Google's new self-driving car stats
Jonathan Camhi
2015-05-13T11:00:00Z
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Good morning! IoT INSIDER is delivered first thing every morning exclusively to BI Intelligence members and INSIDER subscribers.What should we be covering? We'd like to hear from subscribers. Write [email protected] VA AWARDS $50 MILLION CONTRACT FOR DATA SECURITY: Data breaches are becoming a plague in the healthcare industry: 91% of healthcare organizations have been breached in the last two years, according to a recent Ponemon Institute survey. Healthcare organizations hold a great deal of personal information about their customers that can be used by fraudsters for identity theft. The Department of Veterans Affairs (VA) has a similar appeal for hackers, and has also failed its annual Federal Information Security Management Act audit, which measures federal agencies’ data security practices, for 16 years running.In preparation for the next upcoming audit, the VA has named a chief information security officer, Dan Galik, and awarded a $50 million contract to Accenture subsidiary ASM Research to improve its data security policies, according to fedscoop.com.Galik will develop a scorecard to measure the security protocols of each of the VA’s 150 medical centers and 59 regional offices in preparation for the upcoming audit.The Department of State uses a similar system to measure embassies' security. The scorecard should help regional managers gather the information necessary to comply with security requests and directives from the administration’s central office.WHAT THE VERIZON-AOL ACQUISITION MEANS FOR THE IoT: Verizon’s $4.4 billion acquisition of AOL could have a big impact on Verizon’s IoT strategy. Verizon has a number of platforms for authenticating, managing, and communicating with connected devices.The acquisition of AOL will give Verizon the opportunity to use AOL’s expertise and resources in online video and advertising to deliver content to devices connected to those IoT platforms. For instance, a smart refrigerator could display ads for products from a local grocery store on its digital screen. This could make Verizon’s IoT platforms more appealing to potential partner companies looking to reach consumers with advertising designed for IoT devices.Verizon has about 15 million devices connected to its IoT platforms, according to a report last month from Market Realist. BI Intelligence estimates that by 2019 there will be 23.3 billion connected devices in the world. That will be a huge number of devices for Verizon (and its competitors) to deliver content to.
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GOOGLE REVEALS NEW SELF-DRIVING CAR STATS: After the Associated Press reported yesterday that Google’s self-driving cars have been involved in four accidents in California since September, Google responded by disclosing new stats on its self-driving car testing. Google says that its cars have been involved in 11 minor accidents that caused light damage and no injuries. Some of the accidents occurred while drivers were in control of the vehicles, and some occurred while the cars were driving themselves.All together, Google’s cars have logged more than 1.7 million miles over the last six years of testing. The AP had reported that the cars have logged only 700,000 miles, and that they were getting in accidents at higher rates than cars driven by humans. Google contends that the AP's claim isn't fair since minor accidents – like those that its cars were involved in – often aren't reported to authorities.USING DRONES TO REPLACE INSPECTORS FOR OIL AND GAS OPERATIONS: Sky-Futures, a startup that uses drones to inspect oil rigs and gas pipelines, announced this week that it has received $3.87 million in funding. The London-based startup has drones operating in Europe, the Middle East, Southeast Asia, North Africa, and the Gulf of Mexico. It is one of the few companies that have received an FAA exemption to test commercial drones in the US.Sky-Futures drones can collect still photos, HD video, and thermal imaging of the infrastructure that they inspect. Drones can get images and footage that could be dangerous for humans to capture. For example, oil rig inspectors often have to hang from ropes to inspect underneath rig platforms. Using drones to photograph those hard-to-reach parts of a structure means oil and gas companies can gather and respond to information about potential issues more quickly, cutting down repair times and costs.BI Intelligence estimates that the economic impact of the Unmanned Aerial Vehicles (or drones) industry will increase from $1.2 billion this year to $4 billion in 2020.
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LATIN AMERICAN ENTERPRISES EXPECT TO INCREASE SPENDING ON IoT SERVICES: A new survey from Pyramid Research found that Latin American enterprises are looking to increase mobile value-added services for their employees, including IoT services that allow connected devices to communicate with enterprise mobile apps. The survey, conducted by Pyramid’s sister company Current Analysis, found that 40% of the enterprises involved were already using such mobile value-added services. Additionally, 85% of the enterprises surveyed said they plan to increase their spending on such services in the next 12 months. Here's what else BI Intelligence subscribers are reading...Forecast: connected cars will be a major platform for big dataMore than half of oil executives say they plan to invest more in digital over the next five yearsTesla expects to deliver 55,000 cars this yearLog in or sign up for a BI Intelligence full membership to get access to the above. s
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Sony Plans a Cloud-Based Gaming Service: After Acquiring Interactive Cloud-Based Gaming Company, Gaikai Inc., for $3...
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Sony Plans A Cloud-Based Gaming Service: After acquiring interactive cloud-based gaming company, Gaikai Inc., for $380 million June 30, Sony sets its sights on expanding its entertainment experiences.
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Oracle CEO Larry Ellison On Sun Buy - Business Insider
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Oracle CEO Larry Ellison Says Sun Is The 'Most Profitable' Acquisition He Ever Made
Julie Bort
Dec. 18, 2012,
5:20 PM
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Oracle CEO Larry Ellison repeated his promise that the company's hardware business will stop shrinking and start growing within six months.
The company reported results for the second quarter of its 2013 fiscal year Tuesday. Revenues for the hardware business were down 23% to $734 million, compared to $953 million for the year-ago period.
That's all part of the plan.
"Sun has proven to be one of the most strategic and profitable acquisitions we have ever made,” Ellison said. “Sun technology enabled Oracle to become a leader in the highly profitable engineered system segment of the hardware business. I believe that products like Exadata and the SPARC SuperCluster will not only continue to drive improved profitability in our hardware business, by the end of this fiscal year, they will also drive growth in our hardware business.”
He's been making this same promise for months.
Until earlier this year, Sun was considered to be a failed acquisition. But Ellison says shrinking revenues are because he's getting rid of Sun's low-margin, commodity x86 server and storage products.
Employees inside the company tell Business Insider that those selling commodity systems have been targeted for layoffs—which makes business sense if Oracle doesn't want to be in that business anymore.
Instead, Ellison is looking to sell high-margin "engineered systems" designed to run specific Oracle software products. These are known as the Exa line of hardware products and include Exadata, Exalogic, and Exalytics servers. It also includes the Sparc SuperCluster, a high-end, general-purpose system for running databases and apps.
Prior to Oracle's purchase of Sun, the "Exa" line were built using Oracle's designs, with help from HP, then a partner, analysts say. By acquiring Sun and bringing the Exa line in house, Oracle alienated HP.
Given the state of HP these days, maybe it was sheer brilliance on Ellison's part to go it alone with engineered systems.
But first, he's got to make the hardware business grow as promised.
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But hardware revenue is still shrinking.
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Adobe Is Acquiring Ad Tech TubeMogul for $540 Million
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Advertising
Adobe is acquiring ad tech company TubeMogul for $540 million
Lara O'Reilly
2016-11-10T13:35:56Z
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Brett Wilson, TubeMogul cofounder and CEO.
TubeMogul
Adobe is acquiring ad tech company TubeMogul for $540 million, net of debt and cash, the company announced on Thursday.
The deal will see Adobe acquiring all TubeMogul's common stock for $14 per share. TubeMogul went public in 2014, listing at $7 a share. Its stock was trading at around the same price when the deal was announced.TubeMogul specializes in video advertising and offers advertisers a demand-side platform (DSP) to plan, buy, and measure video ads using an automated (programmatic) system.TubeMogul will sit within Adobe's Marketing Cloud business. Adobe has been steadily building up an ad tech stack as part of its Media Optimizer product. In March, for example, Adobe announced a "cross-device co-op" that offers marketers a better view of their customers as they switch between devices.Brad Rencher, Adobe executive vice president and general manager of its digital marketing division, said in a statement: "Whether it’s episodic TV, indie films or Hollywood blockbusters, video consumption is exploding across every device and brands are following those eyeball. With the acquisition of TubeMogul, Adobe will give customers a 'one-stop shop' for video advertising, providing even more strategic value for our Adobe Marketing Cloud customers.”
TubeMogul announced its third-quarter results on Wednesday. Revenue grew 21% year-on-year to $56.1 million, which just tipped the midpoint of the company's guidance. TubeMogul said brand advertisers are "increasingly looking to consolidate their spend on a single platform," which put the company in a strong position to win their ad spend. TubeMogul's net losses increased from $3.75 million in the third quarter of 2015, to $12.4 million. Adjusted EBITDA came in at a loss of $0.3 million, compared to a gain of $1 million in the year-ago quarter. The company stated it had cash and cash equivalents of $84 million in the quarter.Here is the letter TubeMogul CEO Brett Wilson sent to TubeMogul's clients and partners:"I’m thrilled to share the news that TubeMogul has entered into a definitive agreement to be acquired by Adobe Systems.
I want to thank our clients, shareholders, team and partners for your invaluable contributions in getting us to this point. Together, we accomplished a lot. You helped us break down barriers where others saw walled gardens. You helped us launch the first solution for automated, data-driven buying of linear TV ads. You helped us draw attention to misaligned incentives in the market. And you gave us confidence to automatically offer refunds to platform clients for non-human traffic.We believe this is a great move for our shareholders, team and — especially — our clients. Adobe and TubeMogul will provide a unified advertising and data management solution that enables brands to precisely identify the right segments and plan, execute and measure paid media across any device.This will be the industry’s first independent end-to-end video advertising platform. Current TubeMogul clients can envision a future where first-party data and measurement from Audience Manager and Adobe Analytics is available directly in TubeMogul’s platform — a combined data and buying dynamo that spans TV and digital formats.Of course, TubeMogul has long been known for independence and many of you partnered with us due to our buy-side, media-agnostic approach. What’s especially exciting about this acquisition is that it actually deepens that commitment.
A combined Adobe and TubeMogul is uniquely aligned with advertisers. Once integrated, this will enable brands and agencies to plan, buy, measure and optimize their global video advertising with a neutral, independent partner that doesn’t have direct ownership of media or content. Our combined incentive is to arm marketers with insights on what’s working — and act on it.Beyond strategy and product fit, I’m incredibly proud to call Adobe home because we share similar values and corporate cultures. Both companies have a track record of innovating marketing and advertising through software (in Adobe’s case, dating back decades). Both companies invest in building a culture of doers. And both companies are driving transparency in the industry.Openness is also a common value. We expect to continue taking an open approach with new integrations, with new partnerships assessed based on marketer demand.Our commitment to our clients, team and partners is stronger than ever. With Adobe, we can realize our mission to make advertising simpler and more accountable in bigger and more profound ways.
As always, we’re here to honestly answer your questions and arm you for success.Thanks, Brett Wilson, CEO and co-founder of TubeMogul"
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Facebook Acquires Friend.ly, A Social Q&A Startup
Alyson Shontell
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Instagram is experimenting with a radical black-and-white redesign
Last night Facebook acquired Friend.ly, according to the startup's blog.
Friend.ly lets people answer questions within their social network.
The team writes:
"We’re excited about this because we feel the spirit of friend.ly aligns well with Facebook’s vision, and we’re thrilled to be joining such an innovative company. The friend.ly team will be focusing on new projects at Facebook, but friend.ly will continue to operate as a separate service."
Other acqui-hires have gone on to do great things at Facebook. Sam Lessin, for example, led the charge on Facebook's new timeline feature.
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It's Official: AOL Acquires TechCrunch - Business Insider
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It's Official: AOL Acquires TechCrunch
Nick Saint
Sep. 28, 2010, 12:31 PM
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It's official: speaking at TechCrunch Disrupt, Michael Arrington just announced that AOL has acquired the leading tech blog.
AOL CEO Tim Armstrong joined Arrington on stage, and the two just signed the agreement in front of the crowd.
Arrington says he will stay on with TechCrunch, saying: "I have a funny idea I'll be with AOL for three years, based on a variety of incentives."
Arrington says the terms of the deal will not be disclosed.
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Gene Munster Jimmy Iovine Apple Acquihire
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Gene Munster Calls Apple's $3.2 Billion Purchase Of Beats An 'Acquihire'
Jay Yarow
2014-05-09T19:01:00Z
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Piper Jaffray analyst Gene Munster has a new note out on Apple buying Beats.
He calls it an expensive "acquihire," with Apple going after Jimmy Iovine. (An acquihire is when a company buys another company just to get employees. It's hiring through acquisition.)
"Apple's motivation to acquire Beats for $3.2 billion (still unconfirmed) appears to be to bring Jimmy Iovine, a founder of Beats (and rumored to own 25% of the company) and long time record and film producer, to lead Apple's content strategy. While gaining Iovine is a justification for acquiring Beats, we believe that $3.2 billion is a steep price to bring on one high-level executive, given our stance that Beats doesn't appear to offer anything to Apple aside from a brand - which is not a weakness of Apple's. The good news may be that if the Beats deal does in fact happen, it may open the door for other larger scale acquisitions that could include something to improve Apple's Internet services."
Iovine does seem to be a very smart executive who could help reignite Apple's music efforts.
Last year, Iovine laid out his vision for how the music industry should work. With Apple's money, and muscle, it will be great to see if he can execute his vision.
Iovine isn't the only person at Beats that industry people respect. Re/code's Peter Kafka, who knows the music industry cold, calls Ian Rogers, the head of the Beats Music streaming service, the most important new hire Apple is getting.
That said, it's an expensive price to pay for two executives, no matter how talented they are. But Apple has the cash, so why not spend it?
Munster also thinks that Apple would be better off buying a company like Yahoo or Square, which would bolster Apple's internet services, and bring in a solid executive team. He sees Apple's willingness to buy Beats as a sign that it might be willing to open up the checkbook for other companies, too.
On an somewhat related tangent, there is something strange about Apple paying $3.2 billion for Beats, while Google pays $3.2 billion for Nest. Both companies have smart leaders, but one of them seems much more important for the future.
This is part of the reason people are struggling to understand this acquisition. It doesn't feel like it's bold and forward looking. It's not a bad deal. It's arguably a great deal, it just doesn't capture our imaginations like drones, and home automation.
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We Were In Buddy Media's Cool New Office Right As It Was Selling For $700 Million — Here's What It Looked Like
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Daniel Goodman / Business InsiderHow, exactly, does a CEO keep his external cool while working through the months-long process of selling his company for $700 million?
We recently got a couple first-hand demonstrations from Buddy Media CEO Mike Lazerow.
In mid-May, we got a tip from a source: the New York startup scene was about to have its biggest exit in years.
The source refused to say which company, but gave us a couple hints that pointed to a possibility: Buddy Media, the agency that builds and markets Facebook pages for brands.
It had raised $50 million at a $500 million valuation in the fall, and we'd also heard rumors that Oracle had approached one of its competitors down in Atlanta.
The good news for the team in the news room: Buddy Media was hosting a party that night, on May 15, at its New York headquarters. Maybe we'd be able to sniff out a deal.
Before sending a reporter, though, we decided to call up Mike to make sure he was going to be there.
Good thing we called. In fact, Mike was out in California on some business.
Today, we know what Mike was up to. This morning, Salesforce.com officially announced this morning that is has acquired Buddy Media for around $700 million.
But back then, Mike was very convincing in telling us that Buddy Media was not for sale. He told us, on the record, that the goal was to become a "large independent company," and that nothing was in the works. He was even more convincing off the record.
We believed him. Oops.
Annoying for us? Sure.
But you have to give Mike some credit: a report about a big deal before it's done can ruin the whole process, costing investors and employees millions of dollars.
Remember when Google was going to acquire Yelp, but spiked the deal after it decided Yelp insiders had leaked word of it to the press?
Mike did what he had to do to keep the process quiet.
It wasn't the first time! Just weeks before the deal closed, we sent our intrepid photographer, Dan Goodman, to Buddy Media's new offices for a tour.
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We Were In Buddy Media's Cool New Office Right As It Was Selling For $700 Million — Here's What It Looked Like
We Were In Buddy Media's Cool New Office Right As It Was Selling For $700 Million — Here's What It Looked Like
How can a CEO keep cool on the outside while selling his company for $700 million?
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Startup Assembly snapped up its 6th company in 2 years to help brands capitalize on the explosion of e-commerce platforms
Lauren Johnson
2021-10-28T16:47:19Z
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Pacvue president Melissa Burdick and Assembly CEO Sandeep Kella
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E-commerce software firm Assembly is acquiring retail advertising firm Pacvue.
Assembly recently completed a fundraise round valuing the firm at more than $1 billion.
Pacvue is among a small handful of firms powering retail ad platforms like Instacart and Walmart.
E-commerce software firm Assembly plans to acquire adtech company Pacvue to grab a piece of the hot e-commerce advertising space. Terms were not disclosed.Assembly, backed by the private equity firms Advent International and Providence Strategic Growth, has snapped up five other e-commerce companies over the past two years. It's built a stack of software that helps businesses run all parts of an e-commerce business from advertising, analytics, and research. Its acquisition of Pacvue will be supported by Assembly's recent fundraise round, led by Advent, which valued Assembly at more than $1 billion.While Assembly's other acquisitions focused on selling non-advertising services around Amazon, Pacvue gives Assembly access to ad budgets beyond that giant. Four-year-old Pacvue sells software that helps brands like Unilever and Henkel buy and manage campaigns across 30 retailers who sell ads — including Amazon, Walmart, eBay, and Instacart. "We started with Amazon and it's a big part of what we do," said Sandeep Kella, cofounder and CEO of Assembly. "But we also want to support merchants on whatever platforms they're selling on." He added that Assembly is still looking for other e-commerce-related acquisitions.EMarketer estimates that advertisers will spend $24 billion this year on retail media. That money primarily goes to Amazon but a growing number of retailers are rolling out ad businesses to steal share from Amazon.But marketers aren't as familiar with those other retail media businesses. Pacvue cofounder Melissa Burdick said Pacvue can now access Assembly's resources for entrepreneurs like events, podcasts and best practices for newer e-commerce platforms like Instacart."There's a lot of content about Amazon out there because it's been around for so long but there's a lack of content on basically every other platform," Burdick said.And the acquisition will help Pacvue increase its 150-person staff, as it looks to hire more jobs like account directors, success managers, and data scientists that it's currently hiring for. The company grew incredibly quickly over the past year, with both its client base and revenue tripling. Also, Pacvue recently extended beyond advertising software, introducing tools that help brands manage supply and profitability on online marketplaces. Pacvue joins a growing list of retail media firms getting gobbled up. Publicis Groupe acquired CitrusAd in July, and Ascential bought e-commerce adtech firm Perpetua in April.
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Yahoo May Buy Video Startup Qwiki For $50 Million, But That's Cheap In Comparison To Google's Offer
Alyson Shontell
Jun. 18, 2013, 10:01 AM
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Daniel Goodman / Business InsiderDoug Imbruce, founder of Qwiki.AllThingsD's Kara Swisher says Yahoo and Qwiki are in serious acquisition talks. Marissa Mayer is eying the video app creator for about $50 million.
We heard similar chatter last month but when we asked Doug Imbruce, Qwiki's founder, he replied: "? Nothing to chat about."
Today we asked again about the acquisition rumor and his response was different: "No comment."
Qwiki makes sense for Yahoo. It's a mobile-heavy startup that's not too expensive for Mayer. But Imbruce could have sold his company for double or even triple the amount a few years ago.
When Qwiki launched in 2010, it received a lot of hype. It won TechCrunch Disrupt 2010 by demoing an alarm clock app that read overnight news and weather to you. That type of app was one vision for Qwiki. Another was to make all information watchable. Essentially, Qwiki wanted to replace Wikipedia pages and create searchable video content.
That concept attracted Mayer while she worked for Google. Google offered to purchase Qwiki for $100-150 million soon after Disrupt. But Imbruce had already sold one company and he wanted to hold on to Qwiki. He turned down the offer and raised $10 million. Qwiki secured a search deal with Microsoft Bing for its video product.
After the early hype died down, Qwiki struggled. It lost its co-founder, Louis Monier, who created AltaVista. It was difficult to gain traction and the company changed its core concept (or pivoted) three times. Qwiki also moved its headquarters from Silicon Valley to New York City which cost it some core talent.
Imbruce took a gamble by turning down Google just months after its launch. While a Yahoo buyout could still be a win for Imbruce and his investors, it's not the return they could have had a few years ago.
Why do founders turn down eye-popping amounts of money? Check out: These Startups May Have Blown It By Turning Down $100 Million >
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Yahoo May Buy Video Startup Qwiki For $50 Million, But That's Cheap In Comparison To Google's Offer
Yahoo May Buy Video Startup Qwiki For $50 Million, But That's Cheap In Comparison To Google's Offer
Qwiki could have sold for double or triple that amount.
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Top Hollywood Production Company Acquisition Targets in 2023
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21 production companies that are acquisition targets as streamers race to get profitable and private equity bets big on Hollywood content
Lucia Moses,
Elaine Low, and
Claire Atkinson
2023-01-01T18:30:36Z
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This story is available exclusively to Insider subscribers.
Become an Insider and start reading now.
The streaming wars have fueled a wave of deal-making for Hollywood production companies.
Private equity is leading the charge, with firms like Apollo and Blackstone spending big on content.
Insider identified 21 top production companies that could attract buyers or investors in 2023.
Media companies reined in spending on content in 2022 and focused on sure hits as they struggle to make streaming profitable.But there's still plenty of money being spent on new shows and films and the companies that make them. The number of new commissions announced by streamers was way above their 2018 and 2020 levels, per Ampere Analysis. Media companies need fresh content to win and keep subscribers who have more options than ever to choose from.Churn among the top 10 subscription video services rose to 5.8% in the third quarter of 2022, up from 3.2% in 2019, according to Antenna. And streamers that have ad-supported tiers — a group that now includes Netflix and Disney+ — also need subscribers to fuel ad sales, which depend on eyeballs.The demand for fresh content has spurred a wave of dealmaking in Hollywood. In the most recent example, Brad Pitt is selling 60% of his production company, Plan B, to French media giant Mediawan.But it's private equity firms, flush from recent fundraising, that have been leading the charge. Peter Chernin in July rolled up studios into North Road Co. with $800 million in backing from PE giants Providence Equity and Apollo. A24 in March nabbed a $225 investment in a round led by Stripes that valued the indie film studio at more than $2.5 billion. And Blackstone is backing Disney alums Kevin Mayer and Thomas Staggs' Candle Media, which invested $500 million in Reese Witherspoon's Hello Sunshine, took a minority stake in Will and Jada Pinkett Smith's Westbrook Inc., and is looking for more deals.Peter Csathy, chairman of Creative Media, said he expects to see several smaller deals in 2023 that involve prestige studios and production shingles like A24, Anonymous Content, and Blumhouse. And unlike mega-media deals that are driven by economic pressures, it's franchise power and brands that are driving these studio deals, Csathy said. "That means these would be no bargains," he noted.Even larger indies like North Road, Skydance, Legendary, and A24 — all of which raised big money this year and appear to be more focused on growth than finding suitors — could still be targets for the content-hungry streamers.With the streamers and networks looking for safe bets on content with built-in audiences — highly packaged pitches with big stars, projects based on best-selling books — companies with rights to beloved IP will be especially in demand. See: Netflix's reported nine-figure deal to acquire the Roald Dahl Story Co. But a production shop doesn't need decades-old IP to take on a sheen for buyers. "Any company that has at least one hit that you can bank on for a couple of years, as long as you have one project with cash flow and reliable EBITDA," said one former exec at a major streamer, "you're an attractive acquisition." Insider spoke with five industry dealmakers, consultants, and other experts who named 21 companies that could be hot acquisition targets as the drive for content continues.This list was originally published on December 12 and has been updated.
101 Studios
"Yellowstone."
Paramount Network
Weinstein Co. alums David Glasser and David Hutkin founded 101 Studios in 2018 with $300 million in backing from Ron Burkle, Marc Leder, and others. Said by an industry source to be in the market for a buyer, it's best known for producing Taylor Sheridan's cable hit "Yellowstone" starring Kevin Costner and Paramount+ hit "Tulsa King" with Sylvester Stallone. Past films include Sundance Audience Award winner "Burden" featuring Forest Whitaker and box office topper "The War With Grandpa" with Robert DeNiro. 101 Studios also inked a deal to produce content for Sports Illustrated Studios based on the magazine's archive.
A24
"Moonlight" star Mahershala Ali.
Getty Images
Known for critically beloved indie films "Everything Everywhere All at Once," "Midsommar," and 2017 Oscar winner "Moonlight," A24 was founded a decade ago by David Fenkel, Daniel Katz, and John Hodges, with the financial backing of Guggenheim Partners. The studio, now led by CEO Fenkel and chairman Katz, received an equity investment of $225 million last spring, which will serve to grow its production and distribution efforts. That investment gives it a valuation of around $2.5 billion. While speculation has swirled around its prospects as an acquisition target, A24 is more focused at the moment on growing, not selling, according to a source familiar with the company's thinking.
Alcon
"The Blind Side."
Warner Bros.
Founded in 1997 by film producers Broderick Johnson and Andrew Kosove with backing from FedEx founder and CEO Frederick Smith, the film production company has a long-term distribution deal with Warner Bros. and has been behind everything from family fare like "My Dog Skip" and the "Dolphin Tale" to thrillers such as "Insomnia" and dramas like "The Blind Side." It's also expanded beyond its film roots to TV, talent management, and music. Its buzzy "Garfield" film adaptation, with the iconic animated cat voiced by Chris Pratt, has been slated for February 2024.
Anonymous Content
"Eternal Sunshine of the Spotless Mind."
Focus Features
Production and management company Anonymous Content has produced such films as "Eternal Sunshine of the Spotless Mind," "Being John Malkovich," and Oscar winner "Spotlight." It also reps A-listers such as Samuel L. Jackson and Emma Stone. Laurene Powell Jobs' Emerson Collective, which first took a minority stake in Anonymous in 2016, is now the company's majority owner. Anonymous and Grandview/Automatik, a management firm and production company, have been in talks since the spring about a potential merger, according to Deadline. A representative for Anonymous, which was founded by the late Steve Golin in 1999 and is now led by CEO Dawn Olmstead, declined to comment on the matter.Automatik has produced "La La Land," "Bad Education," and "Honey Boy," among other films, while Grandview reps clients including "Top Gun: Maverick" director Joe Kosinski as well as top TV helmers Hiro Murai ("Atlanta") and Ryan Condal ("House of the Dragon").
Array
Ava DuVernay at the 2022 Oscars.
Kevin Mazur/Getty Images
Ava DuVernay's company produces, markets, and distributes films from women and people of color. Array also is behind DuVernay projects like Netflix series "Colin in Black & White" and has a deal with the streamer to release film projects including 2022's "What We Leave Behind." Most recently, Array partnered with JetBlue on a pop-up in-flight channel showcasing 12 films directed by women and people of color.
Bad Robot
"Westworld."
John P. Johnson/HBO
Famed producer-director JJ Abrams and wife Katie McGrath's 23-year-old company is behind projects from HBO drama "Westworld" to the next installment of the "Mission: Impossible" franchise. WarnerMedia in 2019 paid a reported $250 million for a five-year film and TV overall deal with Abrams, though the pact is reported to have faced scrutiny as newly formed Warner Bros. Discovery evaluates all its new assets. HBO in June decided not to go forward with Abrams' pricey sci-fi drama "Demimonde," and many in Hollywood were shocked by the recent cancellation of "Westworld" after four seasons.In 2021, Bad Robot raised $40 million to expand its games unit. In 2022, it hired LionTree to explore its options, including a sale.
Blumhouse and Atomic Monster
"Halloween Kills."
Universal
Jason Blum's Blumhouse and James Wan's Atomic Monster are both beloved by horror fans for their creepy film franchises, from Blumhouse's "Halloween" and "Paranormal Activity" to Atomic Monster's "The Conjuring" and "Saw." So a New York Times report that the two production companies were in advanced talks to merge set fans abuzz. The deal would see Atomic Monster function independently of Blumhouse but share access to the latter's first-look deal at Universal Pictures, according to the report.
Box to Box
"Drive to Survive."
Netflix
Helmed by award-winning producers James Gay-Rees and Paul Martin, this leading sports production company put itself on the map with Netflix's "Formula 1: Drive to Survive," which has been credited with turning massive numbers of people on to Formula 1. Box to Box also has Showtime's "The Kings" and "Make Us Dream" for Amazon Prime.
eOne
"The Woman King."
Sony
Entertainment One, otherwise known as eOne, is back on the market just three years after toy maker Hasbro acquired it for $3.8 billion. Hasbro is selling the TV and film assets of the venture best known for characters such as Peppa Pig and Transfomers, though those and several other iconic brands are excluded from the sale as Hasbro plans to continue developing them.The company, whose longtime president and CEO Darren Throop will step down at the end of 2022, said it had received inbound interest after an investor day and decided to make a sale, according to Variety. The eOne scripted film and TV department that would be part of a sale is behind projects including "The Woman King" and "Yellowjackets."
Hoorae Media
Issa Rae.
Tommaso Boddi/Getty Images
In addition to her many acting commitments, the prolific Issa Rae has a longstanding relationship with HBO. In 2021 she signed a 5-year, $40 million deal with Warner Bros. that brings her Hoorae label to the media giant's brands including Warner Bros. Picture Group, New Line, and HBO. Hoorae also just launched the Black and Unlimited Digital Development Program with Walmart to provide funding and professional support for Black content creators.Rae's "Insecure" ran for five seasons on HBO and her new comedy "Rap Shit" was recently renewed for a second season; Hoorae's "Sweet Life: Los Angeles" was canceled in December alongside several other HBO Max unscripted series.
Imagine Entertainment
"Tick, Tick... Boom!"
Netflix
Ron Howard and Brian Grazer's production powerhouse was in talks in early 2022 to sell to London investment firm Centricus, but the talks have cooled as of June, per a report in The Wrap. Imagine's recent films have included "Hillbilly Elegy" and "Tick, Tick… Boom!" for Netflix, and in June the company signed a first-look deal with The Washington Post to create film and TV content drawn from the newspaper's archives.
Legendary Entertainment
"Dune."
Warner Bros.
Legendary Entertainment, the production and co-finance company behind "Dune," is another that raised an eye-popping investment — $760 million from Apollo. While the company, led by CEO Josh Grode, expected to be a buyer with that cash influsion, that hasn't wiped out speculation of a possible sale. Apollo is also a backer of Peter Chernin's new $1 billion global North Road, alongside Providence Equity Partners.
Neon
"Parasite."
Neon
Founded in 2017 by Tom Quinn, now the company's CEO, and Tim League, who started the Alamo Drafthouse Cinema chain, producer-distributor Neon is behind hits like 2020 Oscar winner "Parasite" and "I, Tonya." In August it hired merchant bank Raine to explore its options, according to a New York Times report, and in October it closed a revolving credit facility to expand its production slate. Its David Bowie documentary, "Moonage Daydream," has generated awards buzz this year.
The North Road Co.
"Love Is Blind."
Netflix
Peter Chernin's rollup includes his eponymous production company, Chernin Entertainment, known for films "Ford v Ferrari" and "Hidden Figures," as well as Apple TV+ series "Truth Be Told" and "See," and recent acquisition Red Arrow Studios, which produced Netflix's "Love Is Blind." Chernin raised $500 million from Providence Equity Partners and $300 million from Apollo Advisors affiliates to fund the content studio's growth.
Religion of Sports
Tom Brady.
Nic Antaya for The Boston Globe via Getty Images
Cofounded in 2017 by NFL stars Tom Brady and Michael Strahan and sports documentary maker Gotham Chopra, Religion of Sports boasts productions from Emmy-winning "Man in the Arena" for ESPN to "Shut Up and Dribble," for Showtime. The company in June raised $50 million in Series B funding led by Shamrock Capital to help expand its IP.Brady has a second production shingle, 199 Productions, that was part of "Man in the Arena" and also has the feature "80 for Brady" coming out in February.
Scout Productions
"Queer Eye."
Netflix
Founded by David Collins and Michael Williams in 1994, Scout is known for such unscripted hits as the Netflix revival of "Queer Eye" and HBO Max voguing competition series "Legendary." The company also produces streetwear competition series "The Hype" for HBO Max and Disney+'s reboot of "The Quest." Amid the burgeoning documentary space, Scout has teamed with Bloomberg Media to adapt a 2021 Businessweek story on Airbnb as a docuseries, according to Deadline.
Seven Bucks Productions
Dwayne Johnson as Black Adam.
Warner Bros. Pictures
Led by Dwayne "The Rock" Johnson and Dany Garcia, Seven Bucks produced "Red Notice" for Netflix and "Black Adam" for Warner Bros. In April 2022, its screen adaptation of the video game "It Takes Two" was picked up by Amazon Studios.Disappointing numbers for "Black Adam" notwithstanding, Johnson is a massive box-office draw with a huge social media footprint — 352 million followers on Instagram — and he and Garcia's businesses extend well beyond Hollywood, to tequila, a clothing line, and others.
Skydance Media
"Top Gun: Maverick."
Paramount Pictures
In October, David Ellison's production company raised $400 million from KKR and others to expand. While observers speculate about the possibility of a sale, a source familiar with the company says it is looking to use that funding for growth — in November Skydance Sports invested in a new content partnership with the NFL — and is not currently on the block.Skydance is behind "Top Gun: Maverick" and the "Mission: Impossible" and "Star Trek" franchises. The company in January inked a deal to produce live-action films, animated films, and TV series for Apple.
SMAC Entertainment
Michael Strahan.
Frazer Harrison/Getty Images
Twelve-year-old SMAC (its name stands for sports, media, and culture) was cofounded by former NFL star Michael Strahan and former NFL exec and talent manager Constance Schwartz-Morini. Its projects include "Coach Prime," a four-part docuseries on Deion Sanders and the college team he coached, headed for Amazon Prime Video in December; and "BS High," a documentary about the Bishop Sycamore High School football scandal for HBO, which also commissioned "The Cost of Winning," a documentary about an elite high school football program.Schwartz-Morini spoke with Insider in November about SMAC's plans amid booming investor interest in sports media. "I'm always hearing about another fund. Michael and I own our company outright," she said, adding that they're open to talks at the right time.
Tiny Reparations
Phoebe Robinson, left, and Jessica Williams in "Two Dope Queens."
HBO
Multihyphenate talent Phoebe Robinson is the co-creator of "2 Dope Queens," author of New York Times bestseller "You Can't Touch My Hair and Other Things I Still Have to Explain," and creator and star of Freeform series "Everything's Trash" (based on her book of the same name). Her Tiny Reparations shingle, whose head of development is Comedy Central alum Jose Acevedo, recently extended its overall deal with Disney studio ABC Signature, and in 2020 Robinson launched book imprint Tiny Reparations Books, which aims to champion writers of color.
Village Roadshow
Keanu Reeves at the Canadian Premiere of "The Matrix Resurrections."
Sam Santos/Getty Images for Warner Bros. Pictures Canada
The producer and financier is known for Warner Bros. co-productions from "The Matrix" franchise to "Mad Max: Fury Road." In 2017, private equity players Vine and Falcon Investment Advisors took a controlling stake in Village Roadshow Entertainment Group, whose CEO is Steve Mosko, formerly a longtime Sony Pictures TV exec. A source familiar with the company's thinking said the company is in growth mode and not for sale.
Disclosure: Mathias Döpfner, CEO of Business Insider's parent company, Axel Springer, is a Netflix board member.
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Atlassian Explains Acquisition of Halp, a Helpdesk Tool Built on Slack
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Atlassian made an acquisition as it tries to build a business on Slack, which was once its rival
Paayal Zaveri
2020-05-12T20:07:32Z
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Halp cofounders (L to R) Fletcher Richman, Tristan Rubadeau, Komran Rashidov
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Atlassian has acquired Halp, which creates help desk ticketing tools inside Slack.Atlassian's head of product integrations, Steve Goldsmith, said that Halp's tool is complementary to its existing software and gives it a deeper integration to messaging platforms because it's built entirely on top of Slack. Atlassian also plans to build an integration between Halp and Microsoft Teams to support its customers who are using Teams. Atlassian sold its previous messaging apps to Slack in 2018, resulting in a partnership between the two companies that just got even stronger. Click here for more BI Prime stories.As more and more companies turn to messaging platforms like
Slack
and Microsoft Teams for office-wide communication, Atlassian wants in on the opportunity. That's why the IT software company announced Tuesday that it's acquiring Halp, a automated ticketing and answers tool built inside Slack.Atlassian sees chat messaging replacing email for many types of communication within companies, a trend that the COVID-19 related increase in remote work has accelerated, says Steve Goldsmith, head of product integrations at Atlassian."As we look at those two trends — remote work and then move to team-based messaging over the last couple of years — it makes great sense for us to look at a partner like Halp," Goldsmith told Business Insider. Neither Atlassian nor Halp disclosed the terms of the deal, but it was likely relatively small: Halp just launched its product in April 2019 and raised a $2 million seed funding round that valued the company at $9.5 million, according to Pitchbook. The startup's 14 employees will all join Atlassian. Joining Atlassian helps the Halp team expand the market opportunity for the product in a way it couldn't have done on its own, said Fletcher Richman, CEO and cofounder of Halp. Additionally, he felt Atlassian's suite of tools, including ticketing software Jira and collaboration tool Confluence, are complementary to what Halp offers."We just saw honestly a ton of alignment in the vision that we both had for where the product was going," Richman told Business Insider. "Atlassian has just incredible resources for us, whether that the marketing resources, the brand resources, or just getting [Halp] in front of its hundreds of thousands of customers. And it also has this incredible suite of other tools that we can pair really nicely with."Fitting into Atlassian's product strategyHalp's product creates a ticketing system that allows workers to automatically receive answers to IT or HR questions within Slack.The tool also integrates with Jira, Atlassian's most popular product, Jira, which helps engineers track and solve technical bugs, and has a 2-way integration with Confluence, a tool to help companies share and store important information which powers Halp's automatic question answering, Richman said. Although Halp only works with Slack right now, Atlassian hopes to build an integration between Halp and other messaging tools like Microsoft Teams, Slack's biggest rival, because Atlassian has many customers that use that service for internal communication.Notably, Atlassian itself has previously had its own messaging products that never got the same type of traction as Slack or Microsoft Teams. In 2018, Atlassian sold the intellectual property for messaging apps Stride and Hipchat to Slack and exited the workplace messaging market. As part of the deal, Atlassian made a small, but symbolically important investment in Slack. Now, instead of competing directly, Atlassian is trying a different approach to capitalize on the popularity of messaging apps: adding tools that complement its existing software.
Halp, a help desk tool inside Slack, was acquired by Atlassian
Atlassian
Deepening Atlassian's partnership with SlackIn some ways, Atlassian's move of betting on tools that work on top of Slack gives the chat platform added credibility. One of the Slack's main selling points has been the fact that it can integrate with almost all the other apps people use to get work done, and in doing so acts like a central hub across an organization. It also allows businesses of any size — large organizations or startups — to build tools on its platform. Atlassian already integrates Jira, Confluence, and its other tools with Slack, so this deepens the partnership even more. "Slack needs to really prove that they are a platform," Richman said. "You want to see really big, successful, tens-of-billions-of-dollar businesses like Atlassian really committing to your platform. That's how Slack is going to beat Microsoft Teams in the end."Brad Armstrong, Slack's VP of business and corporate development said in a blog post that the company sees "enormous opportunities in building this business together with Atlassian."From Goldsmith's perspective, this deal helps Atlassian address the same types of problems that its other software already does, just in a new way. With so many of Atlassian's customers using Slack or other messaging tools, they're often looking for ways to make the tools serve even more purposes."We at Atlassian are really excited to see how companies are discovering and adding functionality on top of the investments in products like Slack," he said. The goal is to make sure Atlassian's existing products can support that via integrations, and that adding Halp lets users find and start using Atlassian products directly within Slack. Got a tip? Contact this reporter via email at [email protected] or Signal at 925-364-4258. (PR pitches by email only, please.) You can also contact Business Insider securely via SecureDrop.
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Here's Why Cisco Made A Whopping $5 Billion Acquisition Today - Business Insider
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Here's Why Cisco Made A Whopping $5 Billion Acquisition Today
Julie Bort
Mar. 15, 2012, 11:23 AM
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In its largest acquisition in years, Cisco today announced it was spending $5 billion to acquire NDS Group, maker of technologies for pay-per-view television.
Cisco hasn't spent this much since it bought a company with similar technology in late 2005. It spent $6.9 billion on set-top box maker Scientific-Atlanta.
The NDS Group makes software for cable and satellite providers. Cisco is on a mission to revamp pay-per-view television and turn it into a two-way interactive thing.
With its Cisco Videoscape product, which it sells to service providers, TV viewers can interact with TV shows and ads in all sorts of ways. They can, from the video screen, chat about the TV show on Facebook or Twitter or they can pause a show and restart it on a mobile device. Most importantly for the service providers, viewers can also order products being advertised and have them billed to their cable TV statements.
The NDS Group's software will be used to bolster Videoscape. NDS names some of the largest cable and satellite players worldwide as customers. Its U.S. customers include Cox and DIRECTV.
Funny thing is, that just a few weeks ago, rumors were circulating that Cisco was going to dump Scientific Atlanta -- and get out of the set-top business. Cisco denied it. At the company's last earnings call with analysts, CEO John Chambers said that Cisco was going to do more here, bringing service providers technology for Internet-based set top boxes and cloud services.
Big acquisitions like this are typical of Cisco when the company is trying to buy a customer base. If it succeeds, your television watching experience will never be the same.
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Nike Acquires RTFKT As It Accelerates Metaverse Play
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Nike just acquired a virtual goods company as it accelerates its metaverse play
Matthew Kish
2021-12-14T15:32:36Z
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Nike on Monday said it acquired RTFKT, an "influential" company that makes digital sneakers.
Business Insider previously reported on Nike's extensive efforts to capitalize on the metaverse.
Terms of the deal weren't disclosed. RTFKT was recently valued at $33 million.
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Nike on Monday announced the acquisition of RTFKT, a company that makes digital sneakers, the latest sign that the sportswear giant sees enormous financial potential in the new immersive reality unknown as the metaverse.Terms of the deal weren't disclosed. Business Insider recently reported on Nike's extensive metaverse efforts, which also include video games and the creation of a Metaverse Studio. While Nike is building capabilities in-house, the RTFKT acquisition could speed up that work given RTFKT's advanced position when it comes to digital collectibles that can be inserted in virtual worlds and video games. In a note to investors, Stifel analyst Jim Duffy said the acquisition could "accelerate the long-anticipated launch of CryptoKicks," or Nike virtual sneakers.
RTFKT, which launched in 2020, currently has 15 employees and has raised $9.42 million from investors, according to PitchBook. The company was valued at $33 million in May. Its fundraising included an $8.12 million seed round led by Andreessen Horowitz, according to PitchBook. While less than two years old, RTFKT had already made a splash, including landing on CNBC's "Squawk Alley" in March after it said it sold $3.1 million in digital sneakers in 7 minutes. It also did a collaboration with celebrated sneaker designer Jeff Staple and another with the noted Japanese artist Takashi Murakami that's generated $65 million in transactions in less than three weeks. On Twitter, sneaker analyst Chris Burns described RTFKT as "influential." But Nike still hasn't won over critics who question the value of digital sneakers, especially for a company that's historically focused on meeting the needs of elite athletes.
"The company that does marketing better than any company in human history is about to start marketing things that no one needs and that have a (more or less) 100 percent profit margin," wrote longtime sneaker journalist Russ Bengtson on Twitter. Nike has made six acquisitions since 2018, according to PitchBook. Each company has been focused on the digital side of retail, including companies that do work around machine learning, predictive analytics, and digital shopping. Nike's current business plan, which it calls the Consumer Direct Acceleration, revolves around digital and direct sales.If you're an Insider subscriber, you can read the full story on Nike's metaverse play here.
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Miro Quietly Acquired Startup Around, a Video-Conferencing App
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$17.5 billion tech juggernaut Miro quietly snapped up video-chat startup Around in the battle to catch Zoom
Ben Bergman and
Melia Russell
2022-10-12T23:23:06Z
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Around is a video-conferencing app founded in 2018.
It was acquired by Miro in June, but both parties kept quiet until contacted by Insider.
Terms weren't disclosed, though one source put the value of the deal as high as $300 million.
Miro, a visual-collaboration company most recently valued at $17.5 billion, quietly acquired the video-conferencing app Around. The transaction closed in June, but both parties kept it under wraps until contacted by Insider this week."The idea was that this team and its expertise can be used to deliver certain experiences, and when those experiences are ready to deliver, then we can talk about them," said Varun Parmar, Miro's chief product officer.Neither Parmar nor a Miro spokeswoman would share terms of the deal.One person close to the acquisition put the value at between $250 million and $300 million in stock and cash, which the person called a "life-changing payday" for Around's founders: Dominik Zane, Matt Zakutny, and Pavel Serbajlo. Another person with knowledge of the deal, however, said the value was far less than $250 million. (Zane, who is Around's CEO, didn't respond to a message seeking comment.) Earlier this year, Zoom launched a new virtual whiteboarding feature that competes against Miro. Zane and Serbajlo, Around's chief technology officer, previously founded M.dot, a mobile marketing company acquired by GoDaddy.With Around, Zane told TechCrunch in 2020 that the founders wanted to create a better version of Zoom, which he said was "built around decades-old assumptions of what a video call should be.""A Zoom video call is basically a telephone connected to a video camera," Zane said. "In terms of design, it's not much different from the original Picturephone demoed at the 1964 World's Fair."Around has gotten favorable reviews for its "floating head" video-chat capability that enables chats to stay in the background rather than hogging the whole screen.Founded in 2011, Miro's online collaborative whiteboard allows in-person, hybrid, and remote teams to work together on a variety of projects from brainstorming to project management. The company rose to popularity during the coronavirus pandemic as companies were forced to organize employees in different geographic locations and time zones.The startup more than doubled its headcount in 2020, to more than 500 employees from 250. Thanks to the broad corporate shift to remote work, Miro raised hundreds of millions from investors, including Accel and Iconiq Capital, and saw its valuation soar to $17.5 billion.Parmar added that Miro had retained Around's entire team, which will be tasked with helping to launch new tools to help engineering, product, and design teams better collaborate remotely as part of a new initiative called Miro Labs."It's a product incubation and innovation program," Parmar added. "We want to get the community to give us feedback in terms of the problems that we are solving."
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Amazon could buy Macy's, Kohl's, or JCPenney over Target
Hayley Peterson
2018-01-05T21:03:17Z
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Speculation is swirling that Amazon could buy Target as the ecommerce giant moves to grow its presence in the physical retail world.Target would give Amazon access to nearly 2,000 stores, but it has too much overlap with Amazon in certain categories, according to Steve Dennis, the founder of retail advisory firm SageBerry Consulting. Other potential Amazon acquisitions include Macy's, JCPenney, Kohl's, Lowe's, and Williams Sonoma.An analyst's prediction this week that Amazon would buy Target has ignited a fury of speculation about the ecommerce giant's acquisition plans in 2018. Loup Ventures' analyst Gene Munster said that buying Target — and getting access to its 1,834 US stores — would help Amazon to better compete with its chief rival, Walmart, and to get more moms hooked on Prime. He predicted that Amazon would pay as much as $41 billion for the big-box retailer this year.Wall Street analysts have mixed opinions on Munster's Target prediction, but many agree with his basic premise: that Amazon "believes the future of retail is a mix of mostly online and some offline," and will grow its presence in the physical retail world as a result.Amazon's $13.7 billion purchase of Whole Foods last year offered clear evidence of that strategy.But Whole Foods has only 470 stores — compared to Walmart's more than 4,700 US locations — and controls just 1.2% of the grocery market. If Amazon wants to level the playing field with Walmart in the physical retail world, it will need a lot more stores.That's why many analysts, like Munster, are confident that Amazon will make another major retail acquisition this year.Target would give Amazon access to nearly 2,000 stores, but it has too much overlap with Amazon in categories like electronics, health and beauty, cleaning products, and entertainment, according to Steve Dennis, a former executive at Neiman Marcus and Sears and the founder of retail advisory firm SageBerry Consulting. Amazon is more likely to go after retailers that have strengths in apparel, furniture, home improvement, and other categories that are still deeply rooted in physical retail, Dennis told Business Insider. So if not Target, then who or what could Amazon acquire next? The short list of candidates for an Amazon acquisition
Macy's is a top contender for a potential Amazon acquisition.
AP
Some top contenders could be Macy's, Kohl's, JCPenney, Lowe's, or a furniture retailer like Williams Sonoma, Dennis said.Macy's, Kohl's and JCPenney would all offer sizeable real estate assets and could help Amazon grow its apparel empire — which has been a focus of Amazon's for the last several years. Macy's, in particular, would be valuable to Amazon because it attracts more upscale customers than Kohl's or JCPenney, Dennis said. Macy's operates more than 700 stores in the US.Lowe's, meanwhile, would give Amazon access to the home improvement market, a business that's "impossible to penetrate from a pure online presence," Dennis said. Why not Home Depot?"Lowe’s gets you 90% of what Home Depot gets you at a lower price," Dennis said.The furniture market is another business that's difficult to dominate purely online, making it an attractive play for Amazon as it looks to grow its market share in that category. Furniture sales are highly fragmented, however, making it hard to identify a clear frontrunner for Amazon to acquire. Some top contenders would be Restoration Hardware, Crate & Barrel, and Williams Sonoma, which owns Pottery Barn and West Elm, Dennis said."My guess is Amazon will do something here — potentially even multiple deals — but a big move in furniture will likely not be their first priority in 2018," Dennis wrote in a column for Forbes.
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Google Acquires Channel Intelligence For $125 Million - Business Insider
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Google Spends $125 Million On Channel Intelligence To Improve Google Shopping
Jay Yarow
Feb.
6, 2013,
8:31 AM
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Google has acquired Channel Intelligence for $125 million in cash.
According to its blog, Channel Intelligence (CI) tracks online retail sales for a number of categories ranging from computing to consumer packaged goods.
We're unfamiliar with Channel Intelligence, but we assume it will be a part of Google's efforts to ramp up shopping. On its site, CI talks about working with Google shopping and boosting traffic for retailers.
One of the looming threats for Google is the continued strength of Amazon. When people want to buy stuff online, they will skip Google and head straight to Amazon. Inside Amazon they will search, and then buy stuff.
Google's business is built around people searching on Google for things to buy. That's the most valuable search from a commercial perspective. Google is trying to improve its shopping services to combat users tendency to go straight to Amazon.
We assume CI will be a part of improving shopping so that when people search on Google for products it will list better, more relevant results for users. And from a retailers perspective, this could help get more relevant results to show up.
Here's the release:
RADNOR, Pa., Feb. 6, 2013 (GLOBE NEWSWIRE) -- ICG Group, Inc. (ICGE) ("ICG") is pleased to announce that one of its consolidated companies, Channel Intelligence, Inc. ("CI"), has entered into a definitive agreement to be acquired by Google Inc. (GOOG) for $125 million in cash. The transaction, which is subject to customary closing conditions, is expected to be completed in the first quarter of 2013.
ICG is expected to realize approximately $60.5 million in connection with the transaction. A portion of ICG's proceeds will be held in escrow and will be subject to potential identification claims. ICG does not expect to owe any income taxes in connection with the transaction.
"Building upon the perseverance and strong foundation laid by CI's founder Rob Wight, I am extremely proud of the work we accomplished at CI," said Doug Alexander, CEO of CI and President of ICG. "With the talent and hard work of the entire CI team, we successfully navigated a very complex marketplace, ending a record year that culminated in this very exciting acquisition."
"The sale of CI to Google is a testament to the quality of its technology and its strong team led by ICG President, Doug Alexander, who positioned the company to succeed in the rapidly growing e-marketing industry," said Walter Buckley, CEO of ICG. "As drivers and architects of CI's growth and success, we are very pleased with this outcome."
"I am thrilled to see the recognition of value for what this company has accomplished," said Rob Wight, Founder and Chairman of CI. "Our vision for CI started with the desire to simplify the online shopping experience. Under the leadership of Doug and ICG, CI greatly enhanced its value proposition to its customers and partners. I am very proud to see our vision executed to this great outcome."
About ICG
ICG (ICGE) identifies, capitalizes and grows companies in the cloud-based software and services sectors. These companies transform the way business is done by enabling enterprises to increase efficiencies and improve and automate critical processes. ICG leverages its unique expertise to carefully identify companies based on their potential to become market-changers and market-leaders. ICG is focused on building profitable businesses in the cloud-based software and services sectors by infusing them with management expertise, strategic and operational guidance, as well as growth capital.
The ICG logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7794
About Channel Intelligence
Channel Intelligence helps marketers outperform online with its CI Boost services: Facebook Platform, Where-to-Buy, Product Search Engines and Shopping Engine solutions. Relied upon by companies such as Target, Philips, HP, Neiman Marcus, Best Buy and Kimberly-Clark, CI tracks nearly 15 percent of US transactions online and drives $2 billion in sales annually in referred sales online in computing products, home improvement products, appliances, consumer electronics, toys and a variety of other consumer packaged goods. CI is owned by ICG and Aweida Capital Management. Learn more at www.channelintelligence.com.
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Google Spends $125 Million On Channel Intelligence To Improve Google Shopping
Google Spends $125 Million On Channel Intelligence To Improve Google Shopping
Google is trying to tweak its shopping results.
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Gawker Media Buys CityFile In Its First-Ever Acquisition
http://www.businessinsider.com/gawker-acquires-cityfile-2010-2/comments
en-us
Wed, 31 Dec 1969 19:00:00 -0500
Fri, 06 May 2016 02:12:49 -0400
Joe Weisenthal
http://www.businessinsider.com/c/4b7a799d00000000009f5f2d
Mike Shields
Tue, 16 Feb 2010 05:55:25 -0500
http://www.businessinsider.com/c/4b7a799d00000000009f5f2d
Yes, but are those uniques?
http://www.businessinsider.com/c/4b79c443000000000066eec7
g
Mon, 15 Feb 2010 17:01:39 -0500
http://www.businessinsider.com/c/4b79c443000000000066eec7
Does Denton have alcohol poisoning? He looks like it
http://www.businessinsider.com/c/4b79bdad0000000000ed38e9
none
Mon, 15 Feb 2010 16:33:33 -0500
http://www.businessinsider.com/c/4b79bdad0000000000ed38e9
Agreed- Nick was the person who gave Remy the money to start Cityfile in the first place, so my guess is that he's not actually paying any money to fold it back into Gawker.
Sounds like Gabe was given the shove to bring Remy in, and integrating the website is a little bonus.
Cityfile never made any money or had any meaningful traffic, so it couldn't have been the main driver here.
http://www.businessinsider.com/c/4b79b9d500000000001f92b6
barry
Mon, 15 Feb 2010 16:17:09 -0500
http://www.businessinsider.com/c/4b79b9d500000000001f92b6
Sounds more like Gabe was fired: http://www.theawl.com/2010/02/nick-denton-asks-gawker-editor-to-step-down-purchases-cityfile | M&A | 1 | [
{
"label": "M&A",
"score": 1
}
] |
Why Accenture Acquired Karmarama
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Accenture explains why it just bought ad agency Karmarama
Lara O'Reilly
2016-11-29T13:59:55Z
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Brian Whipple, head of Accenture Interactive
Accenture
Management consulting firm Accenture announced it had acquired UK advertising agency Karmarama on Tuesday.Speaking to Business Insider, Brian Whipple, who heads the Accenture Interactive unit — which was named by AdAge as the world's biggest and fastest growing digital agency network in 2016 — said Karmarama will help set it apart from competitors like IBM, Deloitte, and the services offered by advertising holding companies. Now Accenture can help design customer experiences, build them, run them, and have an agency to lead on creative.
Karmarama works with clients including the BBC, Honda, and Unilever and is one of the UK's biggest independent creative agencies.Jon Wilkins, who is Karmarama's executive chairman and will take on an additional leadership role within Accenture Interactive following the acquisition, told Business Insider he never wanted to sell the business to a classic advertising holding company where all the benefits of its independence could be stifled. By contrast, he described Accenture Interactive as one of the most "entrepreneurially minded businesses" he had come across.The financial terms of the deal were not disclosed.This interview has been lightly edited for length and clarity.
Business Insider's Lara O'Reilly: What was the appeal of Karmarama to Accenture?Brian Whipple (Accenture): We are laser-focused on helping clients create the best customer experiences on the planet.While we are in that today, having Jon's team as part of the family vastly increase our ability to do that in the bleeding edge and I look forward to tapping the team across a network of opportunities.[Karamarama is a] media agnostic, technology agnostic, experience-first philosophy agency concept. Technology, commerce, content management, and advertising are all about enabling the new customer experience not leading with [a specific media].
O'Reilly: Management consulting firms tend to be client focused, whereas creative agencies — arguably — have more of a focus on the consumer. Will this acquisition help you on that front too?Whipple: Accenture Interactive is specifically focused on the interaction between the client and the end consumer, and not on clients per se. So that may be different from your consulting firm description. Accenture Interactive is in no part a consulting firm — our parent entity is, but that is not what the Accenture Interactive business model or culture is.We are focused on bringing brand promise to life through the customer experience.Jon Wilkins (Karmarama): An interesting find for us that we have detected from consumer point of view and the CMO point of view is the desire to create one connected experience. If you look at the way CMOs' careers are evolving, the ones that have reached the pinnacle are those that have created a system to connect tech and digital experience with the brand and we think that is the battleground
The Karmarama team: Sid McGrath (Chief Strategy Officer), Nik Studzinski (Chief Creative Officer), Jon Wilkins (Executive Chairman) and Ben Bilboul (Chief Executive Officer).
Karmarama
From a consumer perspective, it's the current weak link. A project Karmarama has been doing, Project Reconnect, which is championed WFA (World Federation of Advertisers), looks at the long term trends of brand awareness, engagement, and trust. All those metrics show a decline in brands' ability to truly connect. The number one issue is a lack of connection in digital experience and brandWe see bleeding edge demands being placed on the CMO by consumers who are now voting with ad blockers and other avoidance techniques to demand more from brands and CMOsO'Reilly: Independent creative agencies are usually favored by clients for exactly that: their independence. When independent agencies get bought, they can sometimes lose some of the magic and some of the risk-taking they were afforded by being independents. Is that received wisdom true? How are you going to prevent that from happening?Wilkins (Karmarama): I think it can be true — definitely if we had gone into a classic marketing services holding company, there are two things that tend to happen.One: Management have selfish endeavors around their earn-out that forces them to become, maybe, greedy. And also they tend to work in silos and that can lead to a lack of entrepreneurialism.These are things we didn’t want to happen to our brand.
Within Accenture, we are very much agnostic, as Brian said. I think we can challenge ourselves to continually strive to bring new exciting ways to communicate with customers on behalf of CMOs.I don’t think I’ve ever come across a more entrepreneurially-minded business than Accenture Interactive. When it comes to identifying business growth opportunities, they are different to the classic holding company.Whipple (Accenture): Our bread and butter business is less about responding to client RFPs (requests for proposals) or AOR (agency of record) pitches. I'm not saying we don’t do that but the real play for us is bringing new business models entirely, new revenue streams entirely to our Fortune 2,000 clients.It's less about will they go with us versus agency X or Y and more about will they partner with us to create this new business.
Wilkins (Karmarama): Accenture Interactive is very entrepreneurial and we found this very exciting.As an independent you can’t do, however ambitious you are, you don’t have logistics, scale, and breadth of business to go to these companies and help them grow their business.We think we are going to be more entrepreneurial with Accenture Interactive. We are not just batting for ourselves: it's a bigger market opportunity.O'Reilly: Accenture Interactive acquired design agency Fjord in 2013, which seems like a similar deal in terms of bringing on board new creative expertise. How has the integration gone and how to you bring Fjord to the table when you are speaking to clients?
Olof Schybergson is the CEO of Fjord, the design agency acquired by Accenture Interactive in 2013.
Fjord
Whipple (Accenture): The Fjord deal has been amongst the most visible and most successful in Accenture Interactive's history. We are fortunate to have a strong track record amongst most or all of our acquisitions and Fjord is at the top of that. Fjord is top of mind for our executives across the globe, and it has opened up major service design capabilities in Sao Paulo, Sydney Australia, and all major markets in Western Europe and North America.Adding Karmarama from creative standpoint will only bolster that, and sit side by side from a service design perspective.
We have an Accenture Interactive team that has deep tentacles reaching into the technology capabilities of Accenture to shepherd creative talent and that's critical.We are not just another player in this ecosystem. We didn't buy Karmarama to take their earnings and distribute them to shareholders — it's about creating synergy for clients. Conceptually, this is the same play [as Fjord.]O'Reilly: From the outside looking in, there now seems to be lots of entities offering a similar type of service. There's Accenture Interactive, IBM's huge iX digital agency, and Deloitte Digital and its acquisition of creative agency Heat. Then on the holding company side, you have Publicis Groupe acquiring Sapient and reorganizing to offer clients "digital transformation" services and WPP reorganizing its businesses around a concept called "horizontality," where clients can take a mixture of digital, data and creative services. What makes you different?Whipple (Accenture): It's a fair question and I would propose to you that they are very dissimilar things.
For starters, a number of the companies you mentioned, which are all well run, strong organizations are essentially a collection of different agencies. Yes, there are press releases about grouping them together, but they are a founder-based culture, so their go to market strategy is different.I have one global management team and we go to market as Accenture Interactive. It may be that Fjord offers service design and Karmarama is in a similar brand space, but the Accenture Interactive team all has 100% aligned incentives, without separate founder incentives at all.What's also completely different is that while we are about designing customer experiences, we are also equal parts about running, enabling, and managing these customer experiences for clients.It's not just abut building it and turning it over to them, it's often about running the assets and technology, where we would have a relationship with clients that would probably be 10-20x in size of what a traditional player would have. It's a multi-year, retention-based relationship partner model.
Accenture Interactive offers clients these services
Accenture Interactive
O'Reilly: But isn't that what iX and Deloitte offer?Whipple (Accenture): I don’t comment on competitors usually.
iX is largely a piece of front-end design born through the WebSphere of tech. Deloitte is also a strong firm but does not have nearly the global reach of Accenture Interactive, nor specifically the footprint that Accenture Interactive has in the share of mind with CEOs, and CIOs, and now CMOs.I'll give you an example. When you get in the client room and they say: We have to come up with a campaign and we have to do that in an innovative way that attracts new customers and creates profitable relationships in lasting way and a new revenue stream for us.When that happens, a number of providers all raise their hand and say: "We can do that for you, here are five ideas."Then the client says: "We need that done and implemented in this particular commerce tech, across the Adobe marketing stack, and executing with our back-end campaign systems."
Then 15 or so arms in air go down to three very quickly.Then the client says: "And we need to version this in 20 languages, across 50 different countries."Most of the arms go down.Then the client says: "We need you to manage it for us because it's impossible for us to manage content and version content with software releases, government regulations, and privacy and permission restrictions."
That, pretty much, is our business model.We lead with definition of customer experience but by the time you have multi-national complex management pursuits it takes world class organization like Accenture to pull that off for the client
Good karma this way” – the entrance to Karmarama in London, UK.
Karmarama
O'Reilly: Jon, have you been shopping Karmarama around for a while and were there other suitors?Wilkins (Karamara): Amazingly, we haven’t been shopping around for a while. But because we are quite big and independent, there has been a lot of independent interest.There was never any desire amongst management to sell the business. We are a pretty soft company with some really good values. The term management used is to "steer the ship in the best waters for future."
It's another exciting journey for everyone involved. We told everyone today and people ar really excited and happy about the company.We would have never sold to a classic marketing services group. That had zero appeal amongst management and leadership here. This was an opportunity to really challenge the model. The whole agency model needs shaking up and this is it.O'Reilly: What do you mean by a "soft company"?Wilkins (Karmarama): This business has never been about commercial pursuit. A lot of my former colleagues and peers set up agencies with sole aim of exiting and making money.
The thing that brought us together with Accenture Interactive was our cultural fit as over time we realized we share a lot of values: the way we treat staff, customers, the mark we want to leave on society. We have always had loftier maybe stranger pursuits.
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Facebook Finally Acquired Microsoft Atlas To Take On Google
http://www.businessinsider.com/facebook-finally-acquired-microsoft-atlas-to-take-on-google-2013-2/comments
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Mon, 11 Mar 2013 11:06:41 -0400
http://www.businessinsider.com/c/513df301ecad045b20000006
Google has always had vastly more superior products to Microsoft except in operating systems. And I bet if Google put their collective heads together they could come up with a better operating system for laptops and PCs than Microsoft or Apple.
http://www.businessinsider.com/c/5130a4bbecad04815700000f
Ercis
Fri, 01 Mar 2013 07:53:15 -0500
http://www.businessinsider.com/c/5130a4bbecad04815700000f
buying tech still doesn't make your ads work.
http://www.businessinsider.com/c/513015a3ecad04154900000a
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Bradley Manning Acquitted Of Aiding The Enemy - Business Insider
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Bradley Manning Acquitted Of 'Aiding The Enemy,' Convicted Of 19 Counts Including Espionage
Michael B Kelley
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REUTERS/Gary CameronU.S. Army Private First Class Bradley Manning enters the courtroom for day four of his court martial at Fort Meade, Maryland June 10, 2013.Bradley Manning, who orchestrated the largest leak of classified information in U.S. history, has been acquitted of the most serious charge of aiding the enemy, which carried a possible sentence of life imprisonment.
Military judge Col. Denise Lind convicted Manning of 19 other charges, including seven counts of violating the espionage act.
In all, Manning faces a maximum sentence of 136 years in prison.
Journalist Alexa O'Brien, who detailed each count, is listing the 22 specific counts and the verdicts*.
Manning previously pleaded guilty to 10 of the lesser offenses and faced up to 20 years.
Sentencing will commence tomorrow at 9:30 a.m., according to The Washington Post.
"The government is saying, keep your reservations and morals to yourself or end up like Bradley," Robert Caruso, a former assistant command security manager in the Navy and consultant, told Business Insider. "The government is coming down hard on leakers."
Manning, who served as a junior intelligence analyst in Iraq in 2009 and 2010, gave 700,000 military and diplomatic documents to WikiLeaks to "spark a domestic debate on the role of our military and foreign policy in general."
The documents included videos of airstrikes that killed civilians, a trove of front-line incident reports from the Afghanistan and Iraq wars, dossiers on Guantánamo Bay detainees, and about 250,000 U.S. diplomatic cables.
The disclosures led to some troubling revelations about U.S. actions, and journalists subsequently wrote stories based on the information.
*Here's a breakdown of the charges:
Here is the verdict. PIC #Manning faces 136 years Maximum Punishment. Sentencing begins tomorrow 9:30am pic.twitter.com/9H7Qg1OZJr
— Alexa O'Brien (@carwinb) July 30, 2013
'Aiding the enemy'
Prosecutors painted Manning as an anarchist traitor who recklessly leaked classified information with "a general evil intent," arguing that Manning knew the classified material would be seen by the terrorist group al-Qaida via the Internet.
The government previously stated that al-Qaeda leader Osama bin Laden obtained copies of some documents published by WikiLeaks before he was killed by U.S. special forces in 2011.
Defense attorney David Coombs argued that all modern cases regarding aiding the enemy involved military members who gave the enemy information directly.
Some experts, including Harvard Law Professor Yochai Benkler, argued that the aiding the enemy charge in Manning's case "will cast a long shadow on national security journalists and their sources."
That's because the prosecution said that it would have made the same case if Manning had leaked the documents to The New York Times, Washington Post, or Wall Street Journal.
Here's how Benkler broke it down:
The source gives materials to the journalist; the journalist publishes; the enemy reads the publication and, presto, the source is guilty of the offense of "aiding the enemy".
Manning's experience
The native of Crescent, Oklahoma has been held in military prison for 1,160 days after being arrested in Kuwait on May 26, 2010.
Last month Coombs described Manning as a ‘‘young, naive, but good-intentioned’’ soldier whose struggle to fit in as a gay man in the military made him feel he ‘‘needed to do something to make a difference in this world.’’
From July 2010 to April 2011 he was held as a maximum custody detainee at Quantico marine base in Virginia, where he sat in a fluorescent-lit 6-by-8-foot cell with no window or natural light for 23 hours per day — guards checked on him every five minutes — and was stripped naked at night because authorities deemed the elastic on his underwear could be used to harm himself.
In response to Manning's pre-trial confinement, more than 250 of the most eminent U.S. legal scholars sent a letter to President Obama in protest of Manning's treatment; UN special rapporteur on torture Juan Ernesto Mendez called it "cruel, inhuman and degrading"; and Secretary of State Hillary Clinton's chief spokesman, P.J. Crowley, resigned after he publicly denounced the treatment as "ridiculous and counterproductive and stupid."
In January Lind ruled that any sentence should be reduced by 112 days because of his mistreatment in confinement.
Editor's note: Coincidentally, the U.S. Constitutional Congress enacted the very first whistleblower protection law on July 30, 1778.
SEE ALSO: Bradley Manning Looks Downright Ghostly
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Bradley Manning Acquitted Of 'Aiding The Enemy,' Convicted Of 19 Counts Including Espionage
Bradley Manning Acquitted Of 'Aiding The Enemy,' Convicted Of 19 Counts Including Espionage
Including 5 counts under the Espionage Act.
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This Apple Exec Is On The Prowl For Acquisitions – M&A Source - Business Insider
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This Apple Exec Is On The Prowl For Acquisitions – M&A Source
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A plugged-in M&A source tells us Eddy Cue, Apple's senior vice president of Internet Software and Services is on the prowl for acquisitions in the social media space.
Two targets jump to mind: Pinterest and Path.
Pinterest is a photo-sharing/collecting site that you may not have heard of, but your wife, mother, and sister have been using for three months now. It's had a little hiccup in user-growth, but only because it's been hyped so much, millions of people tried it who were never going to be long-term users anyway.
Path is a mobile-only social network cofounded by Dave Morin, an Apple veteran who also spent a couple years working at Facebook. It's not very popular at all, but its beloved by Silicon Valley early adopters. Also, it's iPhone app is very pretty; and Apple loves pretty.
Apple has been unsuccessful building its own social Internet products. Ping, a network for iTunes users, was a big flop.
A dark horse acquisition target for Apple could be Twitter. It's already deeply integrated into iOS. The problem is that Twitter would cost as much as $10 billion.
Here is some more irresponsible speculation: We've heard a rumor that Twitter and Facebook were not the only companies pursuing Instagram for acquisitions. A couple days ago, Apple marketing exec Phil Schiller quit Instagram in a huff. People have speculated that he was upset that Instagram launched on Android. Maybe he was upset about something else?
One last thought that might irritate you after reading all this speculation: It's conventional wisdom that Apple needs to do something about the fact that it is nowhere on the Internet and even closer to zero when it comes to social. We're not sure why this matters. The main purpose of Apple's software business is to drive hardware sales. How does owning Pinterest, Path, or Instagram help that?
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Two targets jump to mind: Pinterest and Path.
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ATTENTION, TIM COOK: Here's Apple's Startup Shopping List
Kevin Smith and Owen Thomas
Dec. 11, 2012,
6:19 PM
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APApple's Tim CookEven after dropping billions of dollars on shareholders and investing heavily in its supply chain, Apple has more than $120 billion in the bank.
So it can easily afford a little startup shopping spree.
We've noticed a trend in apps we've reviewed recently: More often than not, they fix basic flaws in the iPhone's software, or fill in the gaps in Apple's deficient Web services.
When Tim Cook reorganized Apple's top management in October, he talked about the need to have the company's hardware, software, and services work seamlessly together.
Easier said than done: Apple has long been a hotbed of hardware-design talent. In software, it's a mixed bag, nailing some aspects of the user experience and botching others. And in services? We'll just say "Siri" and "Apple Maps" and leave it at that.
It's not enough for Cook to reshuffle Apple's leadership. He needs to build up the company's talent base. Great developers like to work with other great developers, and Apple, for all its strengths, hasn't had the critical mass of talent in Web-based services and software that it needs.
Cook doesn't have to look far, though: Apple's own App Store is a daily talent show for developers. He only needs to click "Buy" and persuade them to join the mother ship.
Because he doesn't really need their products, as much as their keen eyes for the flaws in Apple's offerings and their knack for coming up with the right fix.
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said:
Please, please, PLEASE e-mail this to Apple, the execs, and Tim Cook! This list is fantastic, and you've done a great job at convincing me about how it could really improve the already existing features! Imagine if the iOS team integrated even 2-4 of these suggestions by the time iOS 7 is launched, just how much better it would be! I really hope the executives at Apple read this.
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ATTENTION, TIM COOK: Here's Apple's Startup Shopping List
ATTENTION, TIM COOK: Here's Apple's Startup Shopping List
These developers are who you need to take the company to the next level.
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Digg's Tech Team Is Getting Acqui-Hired By The Washington Post - Business Insider
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Digg's Tech Team Is Getting Acqui-Hired By The Washington Post
Alyson Shontell
May
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coljay72Yesterday evening rumors flew about a Digg-Washington Post acquisition. The Next Web reported WaPo was buying to the social reader; TechCrunch reported an acqui-hire.
The most recent report, by All Things D's Peter Kafka, says WaPo is only acquiring Digg's tech team, not the business itself.
Kafka says Digg won't be shut down; it's management team will scramble to save the business after its tech talent leaves.
But Digg has tried, and failed, to find an acquirer over the past few months.
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Top Fintech Merger and Acquisition Targets for 2020
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Fintech dealmaking has been red-hot in 2020. Here are the 7 buzzy companies insiders say Wall Street could target next.
Dan DeFrancesco
2020-02-26T17:46:00Z
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The wave of fintech dealmaking is expected to continue throughout 2020.
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Become an Insider and start reading now.
2020 kicked off with a number of big deals that saw incumbents buying fintechs and other newer players, most recently Intuit's $7 billion deal to buy Credit Karma and Morgan Stanley's $13 billion announced deal for E-Trade.The deals show an appetite for startups with "big user bases, lots of consumer data, and proven ability to monetize those users," Peter Johnson, head of fintech investing at Jump Capital, told Business Insider.With a growing number of traditional players eager to evolve their businesses faster, innovation through acquisition seems a likely strategy.Business Insider spoke to a handful of industry insiders to learn which fintechs they see as likely M&A targets. Click here for more BI Prime stories.Big-ticket acquisitions have dominated headlines in 2020, leading to one question: Who's next?Less than two months into the year, it's already shaping up to be a banner year for dealmaking by financial firms — particularly for deals with incumbents buying fintechs or newer players. Whether it's Visa's $5.3 billion planned acquisition of Plaid, Morgan Stanley's $13 billion deal for E-Trade, or Intuit's $7 billion plan to buy Credit Karma, incumbents have not been shy about dishing out cash for younger upstarts. Ally Financial has also agreed to a $2.65 billion deal for CardWorks. And the asset management space meanwhile is seeing activity among once-rivals, with Franklin Resources $4.5 billion deal for Legg Mason.Fintechs are even going on the offensive, with LendingClub announcing plans to buy Radius Bank for $185 million in a move that would make it a fully-chartered bank. In many ways, the plethora of deals in early 2020 are just a continuation of the end of 2019. Most notably, Charles Schwab announced plans to buy competitor TDAmeritrade for $26 billion, while payments giant PayPal said it would purchase startup Honey for $4 billion. Speaking at an annual investor day event on Tuesday, JPMorgan CEO Jamie Dimon said: "We're going to be much more aggressive in acquisitions across the board." Peter Johnson, head of fintech investing at Jump Capital, told Business Insider a consistent theme across all these deals has been customer bases being a driving factor."The fintechs with big user bases, lots of consumer data, and proven ability to monetize those users will continue to be prized," Johnson said. Business Insider spoke to a handful of industry insiders — investors, bankers, analysts, and consultants — to a get a sense of which fintechs and other players could likely be targeted next. To be clear, the sources Business Insider spoke to were merely highlighting companies they believed would be attractive acquisition opportunities. The sources did not suggest any of the companies listed are currently in talks with anyone to make a deal. Experts flagged these seven companies as ones they're keeping an eye on.
Robinhood
Baiju Bhatt (left) and Vlad Tenev, cofounders and co-CEOs of Robinhood.
Getty Images
Valuation: $7.6 billionCustomer base: More than 10 million customer accountsWhy it's a potential target: Following Morgan Stanley's $13 billion bid for E-Trade, Robinhood has been one of the most commonly cited fintechs by those in the industry as a potential target. The buzzy startup rose in prominence thanks to its commission-free trading and cryptocurrency products. The former proved to be so successful traditional discount brokerages were forced to adapt, dropping their own commissions. Robinhood has been extremely successful gaining traction amongst young, first-time investors, a demographic traditional incumbents have struggled with. In December 2019, the company announced it had eclipsed 10 million customers, although declined to specify the average size of accounts or if they were actively trading.There is no denying the impact Robinhood, which was first announced in April 2013, has had in its short existence. Still, the startup has had its fair share of missteps. Robinhood's December 2018 announcement of a checking and savings product proved so disastrous that Congress eventually got involved.In the fall of 2019, customers said they discovered a glitch that allowed them to trade with an infinite amount of borrowed money. And in December 2019, the startup was fined $1.25 million by regulators for how it executed trades from October 2016 to November 2017. But the startup has plenty of support from investors, and raised a $323 million Series E round in July 2019 that valued it at $7.6 billion. To that point, while insiders agreed Robinhood would likely be a sought after, its high price tag might make a deal tricky. "Robinhood is an obvious target," Johnson said. "But valuation expectations will make that one difficult."
Carta
Carta cofounder and CEO Henry Ward
Carta
Valuation: $1.7 billionCustomer base: More than 14,000 companies Why it's a potential target: Companies are staying private longer, and the importance of managing privately held assets has never been higher. As startups balloon in size, further complicating their capitalization tables, Carta aims to offer more transparency regarding ownership of equity. Investors have poured $447.8 million into the Palo Alto, California-based startup since its launch in 2012. In May, the startup closed a $300 million Series E, pushing it into unicorn status with a $1.7 billion valuation. Carta has been a rocketship, as that raise came less than six months after an $80 million Series D in December 2018 that valued the company at $800 million. Robert Le, Pitchbook's fintech analyst, told Business Insider that another deal had already set key a precedent for Carta. "Morgan Stanley's acquisition of Solium could have created a race for the other equity plan managers on the market," Le said via email. Morgan Stanley bought Solium, which also offers software for the management of privately held assets, for $900 million in a deal that closed mid-2019. Solium, which had built a market share amongst employees of startups, was viewed as a direct channel into future wealth management clients for Morgan Stanley. In a call to discuss third-quarter earnings in October, the bank's chief financial officer, Jonathan Pruzan, said Solium, which was rebranded Shareworks by Morgan Stanley, had won the firm 265 corporate clients despite only closing the deal in May.And as Wall Street continues to see the value in attracting Main Street customers, Carta could be a logical target.
MoneyLion
Diwakar Choubey, MoneyLion CEO
MoneyLion
Valuation: Not disclosed, but reportedly nearing unicorn statusCustomer base: More than 5 million membersWhy it's a potential target: There's no denying that data is more valuable than ever on Wall Street.That's especially true when it comes to consumer finance, as information about a customer helps a company understand the best products to try to sell. Visa's planned acquisition of Plaid and Intuit's bid for Credit Karma both highlight that point. And the pricetag of both deals, $5.3 billion and $7.1 billion, respectively, show the premium incumbents will put on getting better insight into their customers. Following that theme, a North American-based consultant told Business Insider that digital banking company MoneyLion is one to keep an eye on. The startup, which offers a variety of banking, investing, and lending services via a subscription model, has over five million members — and 93% of them are first-time investors. Founded in 2013, the New York-based startup nabbed a $100 million Series C in July. While the company didn't disclose a valuation at the time, multiple outlets reported it was nearing unicorn status. While MoneyLion's target demographic of financially-stressed customers isn't unique, it's a ability to build a customer base on a subscription-based model is a bit of an outlier in what has largely become a no-fee environment among fintechs.And as Wall Street firms strategize how to best draw in a wider audience, MoneyLion could be a foot in the door. "Aggregating customer data to cross-sell and develop a new customer offering," the consultant said of MoneyLion's draw.
Gusto
Gusto CEO Josh Reeves.
Gusto
Valuation: $3.8 billionCustomer base: More than 100,000 small businessesWhy it's a potential target: Managing payroll and benefits isn't the sexiest thing in the world, but it's proved to be big business for Gusto.The San Francisco-based startup has raised over $500 million since its founding in 2011 with a focus helping small businesses manage back-office tasks such as employee onboarding and human resources via the cloud.In July, Gusto raised a $200 million Series D, which included involvement from an investment management firm cofounded by former Vice President Al Gore, to push its valuation to $3.8 billion. Josh Reeves, Gusto's CEO, has been adamant about his plans to take the company public, telling Business Insider in July it was just a matter of time. Reeves has also been clear he has no intentions to sell the company. In the same interview with Business Insider, he made it clear the goal was to remain independent."We would never sell Gusto. There's been plenty of interest in the past. It's not a topic that we've had any interest in exploring," Reeves said. However, PitchBook's Le said the startup could eventually see the biggest benefit in a deal with a big player such as ADP, Paychex, Workday, or Oracle. "We see stronger strategic opportunities with incumbents," he added.
Marqeta
Jason Gardner, founder & CEO of Marqeta.
Web Summit/YouTube
Valuation: Nearly $2 billionCustomer base: Not disclosed, but has issued more than 140 million cardsWhy it's a potential target: The payments space is one that has seen considerable change in recent years, with the consolidation of established players and startups gaining ground as the world continues to digitize. One of the best examples is Marqeta, which defines itself as a modern card-issuing platform. Through use of application-program interfaces (APIs), the startup helps companies build their own payment cards for employees, customers, or partners. Square, Affirm, DoorDash, Kabbage, and Instacart are among its clientele. In May 2019, Marqeta raised a $260 million Series E to value the company just shy of $2 billion. In December 2019, the company announced it had issued 140 million cards, which, if counted as a singular card issue, would have put it in the top 25 of US payment card issuers. PitchBook's Le pointed to another recent deal in the payments space as the blueprint for getting something done with Marqeta. "We could see a similar deal as Plaid/Visa, involving Marqeta," Le said. "They have overlap in customer bases but are in a different part of the payments tech stack."While Visa already is already an investor in Marqeta, having made a strategic investment in June 2017, that's not to say the payment giant is the only buyer. Le said interested parties could also include other payments providers or banks. The North American-based consultant echoed Le's thoughts on Marqeta's potential as a target."It has already been a very active landscape, but payments innovation is likely to continue to drive established payment institutions and banks to acquire fintechs," the consultant said.
Interactive Brokers
Thomas Peterffy, Interactive Brokers founder
Lucas Jackson/REUTERS; Samantha Lee/Business Insider
Valuation: $21.9 billion market cap, as of TuesdayCustomer base: 704,600 customer accounts Why it's a potential target: While not a fintech in the traditional sense of the word, the company has proved to be wildly innovative over the years, remaining on the cutting edge amongst fellow discount brokerages. Whether it's dropping trading fees or offering the ability to trade fractional shares, the Greenwich, Conn.-based brokerage has stayed ahead of the curve. However, following Charles Schwab's planned $26 billion acquisition of TD Ameritrade and Morgan Stanley's proposed $13 billion deal for E-Trade, the market for online brokerages has consolidated considerably.The company doesn't have a long history of doing deals, but in light of recent news that could change, according to a US-based investment banker with a focus on fintech.Interactive Brokers' customer base, which consists of sophisticated day traders and smaller family offices, would be a big draw to any bank looking to broaden its wealth management businesses, the banker told Business Insider. "Interactive Brokers usually flies under the radar screen," the banker said. "Everyone forgets how big that company actually is."The brokerage's price tag would likely be steep, as the company had a market capitalization of roughly $21.9 billion as of Tuesday. Despite stepping down as CEO in January 2019, Peterffy remains the company's chairman and majority shareholder. During the fourth-quarter earnings call, Peterffy said he would lower his stake in the company "very soon.""It's an emotional thing," he added.
Chime
Chime's cofounders Chris Britt and Ryan King
Chime
Valuation: $5.8 billionCustomer base: More than 8 million customer accountsWhy it's a potential target: The concept of rebundling was a major theme for fintechs throughout 2019, but this year saw a twist on that play with LendingClub's planned acquisition of Radius Bank. The $185 million deal allows LendingClub to operate as a fully chartered bank, and use deposits to further fuel its lending efforts. And as more firms look to evolve from a specialist to multi-product, acquisition could serve as an immediate boost to those efforts. Partnerships between lenders and deposit takers, in particular, make the most sense, the North American-based consultant said. And while there is no shortage of startups pitching products for customers to park cash, Chime has managed to stand out. The US digital bank surpassed 8 million customer accounts recently, making it the third largest neobank globally, trailing only UK-based Revolut and Brazilian Nubank. And while features like SpotMe, a service allowing customers to overdraw their accounts by up to $100 without getting charged fees, indicate a focus on a lower-income customer base, there is no denying the pace at which Chime is growing. It's worth noting a comparison to the LendingClub/Radius Bank deal isn't completely fair as Chime doesn't have its own bank charter, and has been working with a partner bank instead. The startup also had an outage in October 2019 that drew the ire of customers locked out of their accounts. The neobank's pricetag is also worth considering, as sources said getting a deal done for a company so highly valued could be difficult.Chime raised two rounds in 2019 alone. First, a $200 million Series D in March valuing the company at $1.5 billion. Nine months later it would attract investor interest again, raising $500 million to bump its valuation up to $5.8 billion.
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Snapchat Acquires Vergence Labs
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It Looks Like Snapchat Paid $15 Million To Buy A Google Glass-Like Startup
Jay Yarow,
Alyson Shontell, and
James Cook
2014-12-17T01:33:00Z
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Epiphany Eyewear
Snapchat secretly acquired a company working on a Google Glass type of product in March, according to documents that leaked as a part of the Sony hacking. Sony Entertainment CEO Michael Lynton is also a Snapchat board member, and his inbox has been exposed by hackers. In it, we see deal terms that suggest Snapchat paid $15 million for Vergence Labs, which makes frames for glasses. The terms say Snapchat paid $11 million in cash and $4 million in stock.
Vergence Labs' website makes no mention of being owned by Snapchat. However, a source tells us that Snapchat has in fact bought Vergence. We've reached out to a Vergence employee for comment. This is a strange acquisition because Snapchat makes an app for sharing photos and messaging. Its photos quickly disappear. Perhaps it has good technology for converting video files. Perhaps it has talented engineers.Snapchat's investors have spoken briefly about wearable potential for the company though. In an interview with J.J. Colao in Forbes last year, Coatue Management's Thomas Laffont stated, "People haven’t thought about use cases on new computing platforms. In one tap you take a photo, one more and you can share it. Imagine [the difficulty] trying to post on Instagram from a Google Glass device." Coatue invested $50 million in Snapchat.
Epiphany Eyewear cofounder Erick Miller.
Business Insider
Vergence Labs' main product is Epiphany Eyewear, a product that subtly records video with the press of a button on the side of the frame. The glasses come with 8GB, 16GB or 32GB of storage. Depending on which pair you get, you'll spend $300 to $500. The glasses hook into a computer, and you upload the video to an online account. You can't take photos with the device, but Epiphany has software that you can use to capture stills from the videos you upload.
Erick Miller and John Rodriguez cofounded the company in 2011, before Google Glass was announced. Miller worked on the idea as a graduate student at UCLA and poured his life savings into building the product. You can find a review of Epiphany Eyewear here.Vergence may have been low on money, because in another email just days before the deal was sent around, another email showed Snapchat loaning it $2 million. > Approval of Stock Purchase Agreement > Whereas, the Board has reviewed the proposed Stock Purchase Agreement (the “Stock Purchase Agreement”), among the Company, Vergence Labs, Inc. (the “Target”), the stockholders of Target and Erick Miller as the stockholders’ agent, in substantially the form of Exhibit A hereto, pursuant to which the Company would acquire all the shares of Target and Target will become a wholly-owned subsidiary of the Company (the “Transaction”);> Whereas, the Board has discussed a proposal to acquire Target through the Transaction in exchange for an aggregate purchase price of up to $15,000,000 in cash that will be paid to Buyer in two separate payments, where the first of such payments will be paid to Buyer at the closing (the “Closing”) in an amount equal to $11,000,000 in cash, less (i) the Company’s transaction expenses and (ii) the amount required to repay that certain loan paid prior to the signing of the Transaction (the “Buyer Loan”) and the second of such payments in an amount equal to $4,000,000 in cash that will be held back at the Closing (the “Holdback Amount”) and be subject to monthly vesting over 24 months based on the continued employment of the stockholders with the Buyer pursuant to the terms set forth in the Stock Purchase Agreement (the “Purchase Price”);NOW WATCH: Why Bethany Mota Has A Legion Of 10 Million Fans Waiting For Her Next YouTube VideoPlease enable Javascript to watch this video
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Facebook Finally Acquired Microsoft Atlas To Take On Google - Business Insider
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Facebook Finally Acquired Microsoft Atlas To Take On Google
Laura Stampler
Feb. 28, 2013,
4:50 PM
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After a period of speculation, Facebook finally proved that the rumors were true and announced its acquisition of Microsoft's Atlas ad server on its blog today.
While we don't know the exact price point, Ad Age speculated that it would cost between $30 and $50 million. Note that Microsoft got the ad suite as a part of a $6 billion deal when buying aQuantive — a deal that the Seattle-based tech giant chalked up as wasted money this summer.
This buy is important for Facebook because it makes the social network more of a contender in the ad space and takes on Google at its most profitable business.
"Our belief is that measuring various touch points in the marketing funnel will help advertisers to see a more complete view of the effectiveness of their campaigns," said Brian Boland, Facebook's Director of Product Marketing, in a blog post.
Although Peter Kafka at All Things D noted that "Integrating and overhauling Atlas, which has essentially been abandoned by Microsoft for years, will take many months, and the whole thing may not be done for another year."
Boland acknowledges that the integration will be a process.
He wrote, "We plan to improve Atlas' capabilities by investing in scaling its back-end measurement systems and enhancing its current suite of advertiser tools on desktop and mobile. We will also work to improve the user interface and functionality with the goal of making Atlas the most effective, intuitive, and powerful ad serving, management and measurement platform in the industry. Ultimately, Atlas’s powerful platform, combined with Nielsen and Datalogix, will help advertisers close the loop and compare their Facebook campaigns to the rest of their ad spend across the web on desktop and mobile"
Atlas is based in Seattle and the team will continue to work there.
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Today's FOMC QE Bombshell Shows Why Share Buybacks and M&A Will Now Accelerate
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Today's FOMC QE Bombshell Shows Why Share Buybacks And M&A Will Now Accelerate
Vincent Fernando, CFA
2010-09-21T19:30:00Z
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The Fed expects continued low U.S. inflation and weak economic growth according to today's FOMC statement.
They even made it clear that they are prepared to deliver additional quantitative easing if necessary, which means that the Fed will err on the side of caution and interest rates are likely to remain lower for longer.Now jump over to the many international companies who sit on growing cash piles earning nothing, but are faced with uncertain growth prospects for new investment, and today's FOMC statement only emphasizes why share buybacks and M&A will accelerate going forward.We've talked previously about the wide spread between stock and bond valuations right now, and how it makes sense for large stable multinationals to issue cheap debt in order to buy back their shares or buy the shares of other companies. Low interest rates in the bond market mean that the hurdle rate for any investment return is very low. Heck, you could buy out some companies with debt financing and earn a spread from their dividend these days, while also gaining an entirely new business unit. Or for slightly more interest than you pay on your own dividend, you could retire existing shares with debt via buybacks, and increase the ownership stake and per-share earnings for all remaining shares.So historically low interest rates, historically low expected economic growth, and historically low share prices all say one thing -- more buybacks and M&A. Today's FOMC statement only makes us more confident that it's on the way, if not already unfolding.
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SoftBank Is On The Verge Of Acquiring T-Mobile - Business Insider
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SoftBank Is On The Verge Of Acquiring T-Mobile
Maki Shiraki and Nobuhiro Kubo, Reuters
Dec. 25, 2013,
5:59 AM
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T-Mobile's "uncarrier" strategy was one of the 10 best business
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TOKYO (Reuters) - Japan's SoftBank Corp <9984.T> is in
talks to acquire U.S. wireless carrier T-Mobile US Inc
<TMUS.N> and is discussing funding for a deal with
financial institutions, sources close to the matter said on
Wednesday.
SoftBank is looking to have its recently acquired U.S. unit
Sprint Corp <S.N> take a majority stake in T-Mobile from
the latter's parent Deutsche Telekom AG <DTEGn.DE> in the
financial year starting April, one of the sources added.
The deal, which media reports have said would be valued at about
$20 billion - in line with the $21.6 billion SoftBank paid for
Sprint this summer, would help the Tokyo-based company leapfrog
U.S. rivals Verizon <VZ.N> and AT&T Inc <T.N> to
become the world's No.2 mobile carrier by revenue.
It would also bring SoftBank CEO Masayoshi Son closer to his
ambition of building the world's biggest mobile Internet company
- if he can overcome U.S. regulators' expected concerns about
competition issues.
"More than the financial and funding aspects, there are likely
concerns in the United States about how much Son, head of a
foreign company, can really open up mobile infrastructure there,
and whether the deal would obstruct healthy competition," a
banking source in Tokyo said.
Sprint has been interested in combining with T-Mobile for years
and top executives from both companies have said that
consolidation was necessary in the U.S. wireless market, as
cooperation in infrastructure and equipment orders would create a
stronger rival against the two biggest players.
COMPETITION CONCERNS
Both the U.S. Federal Communications Commission, which turned
down AT&T's application to acquire T-Mobile in 2011 due to
competition concerns, and the Justice Department chiefs have
signaled they will take a hard line in scrutinizing consolidation
bids.
SoftBank may also face its second bidding war in barely a year
with U.S. satellite TV provider Dish Network Corp <DISH.O>,
which is also looking at T-Mobile, sources told Reuters last
week.
Dish dropped out of the race to acquire Sprint this year after
forcing SoftBank to sweeten its offer.
SoftBank is in the final stages of talks with Deutsche Telekom,
the Nikkei business daily reported on Wednesday, but sources told
Reuters that talks were still in an early stage.
While the German company would prefer a cash deal, SoftBank has
considered a stock swap and may have also added a tender offer
and other kinds of deals to its options, the Nikkei report said.
Son has met with at least five banks to discuss financing,
Bloomberg news reported over the weekend, including Credit Suisse
Group AG <CSGN.VX>, Mizuho Bank Ltd, Goldman Sachs Group
Inc <GS.N> and Deutsche Bank AG <DBKGn.DE>.
Steering SoftBank through the acquisition would be a test for the
finance team, one banking source said, following the death in
October of Kazuhiko Kasai, a former banker who was the company's
CFO and considered Son's right-hand man.
SoftBank shares dropped 0.5 percent to 8,770 yen on Wednesday,
while T-Mobile shares closed up 1 percent at $32.19 on Tuesday.
SoftBank's shares have rallied in recent weeks to their highest
since the dot-com bubble burst more than a decade ago, as
investors buy into Son's aggressive acquisition and growth
strategy. They include hedge fund manager Daniel Loeb, who
disclosed last month that he had invested more than $1 billion in
the company.
(Additional reporting by Emi Emoto, Taro Fuse and Sophie Knight
in Tokyo, Liana B. Baker in New York; Editing by Edmund Klamann
and Himani Sarkar)
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IBM Strikes Deal to Buy Red Hat for $34 Billion
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IT'S OFFICIAL: IBM is acquiring software company Red Hat for $34 billion
Becky Peterson
2018-10-28T18:18:12Z
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IBM has struck a deal to acquire the cloud software company Red Hat for $34 billion.IBM will pay $190 a share for the software company, which it described as the world's leading provider of open-source cloud software, a premium of more than 60% from Red Hat's closing stock price of $116.68 on Friday.Also read: IBM was losing the cloud wars — here's why Wall Street thinks its $34 billion Red Hat acquisition will change that
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IBM has struck a deal to acquire the cloud software company Red Hat for $34 billion.IBM will pay $190 a share for the software company, which it described as the world's leading provider of open-source cloud software, a premium of more than 60% from Red Hat's closing stock price of $116.68 on Friday. Shares traded upward of $175 in June, but disappointing earnings combined with a volatile market to see the price drop sharply.Here are the key points from the deal announcement:IBM will acquire all of the issued and outstanding common shares of Red Hat for $190.00 per share in cash, representing a total enterprise value of approximately $34 billion.Goldman Sachs, JPMorgan and Lazard advised IBM. Guggenheim Partners represented Red Hat on the deal. Banks could reap as much as $115 million for orchestrating the deal.IBM will remain committed to Red Hat's open governance, open source contributions, participation in the open source community and development model, and fostering its widespread developer ecosystem.IBM and Red Hat also will continue to build and enhance Red Hat partnerships, including those with major cloud providers, such as Amazon Web Services, Microsoft Azure, Google Cloud, Alibaba and more, in addition to the IBM Cloud.Red Hat will join IBM's Hybrid Cloud team as a distinct unit, preserving the independence and neutrality of Red Hat's open source development heritage and commitment, current product portfolio and go-to-market strategy, and unique development culture.Red Hat will continue to be led by Jim Whitehurst and Red Hat's current management team. Jim Whitehurst also will join IBM's senior management team and report to Ginni Rometty. IBM intends to maintain Red Hat's headquarters, facilities, brands and practices."IBM will become the world's #1 hybrid cloud provider, offering companies the only open cloud solution that will unlock the full value of the cloud for their businesses," Ginni Rometty, IBM chairman and CEO, said."Joining forces with IBM will provide us with a greater level of scale, resources and capabilities to accelerate the impact of open source as the basis for digital transformation and bring Red Hat to an even wider audience – all while preserving our unique culture and unwavering commitment to open source innovation," Jim Whitehurst, president and CEO of Red Hat, said.
Here's the full statement:IBM (NYSE:IBM) and Red Hat (NYSE:RHT), the world's leading provider of open source cloud software, announced today that the companies have reached a definitive agreement under which IBM will acquire all of the issued and outstanding common shares of Red Hat for $190.00 per share in cash, representing a total enterprise value of approximately $34 billion."The acquisition of Red Hat is a game-changer. It changes everything about the cloud market," said Ginni Rometty, IBM Chairman, President and Chief Executive Officer. "IBM will become the world's #1 hybrid cloud provider, offering companies the only open cloud solution that will unlock the full value of the cloud for their businesses."Most companies today are only 20 percent along their cloud journey, renting compute power to cut costs," she said. "The next 80 percent is about unlocking real business value and driving growth. This is the next chapter of the cloud. It requires shifting business applications to hybrid cloud, extracting more data and optimizing every part of the business, from supply chains to sales."
"Open source is the default choice for modern IT solutions, and I'm incredibly proud of the role Red Hat has played in making that a reality in the enterprise," said Jim Whitehurst, President and CEO, Red Hat. "Joining forces with IBM will provide us with a greater level of scale, resources and capabilities to accelerate the impact of open source as the basis for digital transformation and bring Red Hat to an even wider audience – all while preserving our unique culture and unwavering commitment to open source innovation."This acquisition brings together the best-in-class hybrid cloud providers and will enable companies to securely move all business applications to the cloud. Companies today are already using multiple clouds. However, research shows that 80 percent of business workloads have yet to move to the cloud, held back by the proprietary nature of today's cloud market. This prevents portability of data and applications across multiple clouds, data security in a multi-cloud environment and consistent cloud management.IBM and Red Hat will be strongly positioned to address this issue and accelerate hybrid multi-cloud adoption. Together, they will help clients create cloud-native business applications faster, drive greater portability and security of data and applications across multiple public and private clouds, all with consistent cloud management. In doing so, they will draw on their shared leadership in key technologies, such as Linux, containers, Kubernetes, multi-cloud management, and cloud management and automation.IBM's and Red Hat's partnership has spanned 20 years, with IBM serving as an early supporter of Linux, collaborating with Red Hat to help develop and grow enterprise-grade Linux and more recently to bring enterprise Kubernetes and hybrid cloud solutions to customers. These innovations have become core technologies within IBM's $19 billion hybrid cloud business. Between them, IBM and Red Hat have contributed more to the open source community than any other organization.
"Today's announcement is the evolution of our long-standing partnership," said Rometty. "This includes our joint Hybrid Cloud collaboration announcement in May, a key precursor in our journey to this day."With this acquisition, IBM will remain committed to Red Hat's open governance, open source contributions, participation in the open source community and development model, and fostering its widespread developer ecosystem. In addition, IBM and Red Hat will remain committed to the continued freedom of open source, via such efforts as Patent Promise, GPL Cooperation Commitment, the Open Invention Network and the LOT Network.IBM and Red Hat also will continue to build and enhance Red Hat partnerships, including those with major cloud providers, such as Amazon Web Services, Microsoft Azure, Google Cloud, Alibaba and more, in addition to the IBM Cloud. At the same time, Red Hat will benefit from IBM's hybrid cloud and enterprise IT scale in helping expand their open source technology portfolio to businesses globally."IBM is committed to being an authentic multi-cloud provider, and we will prioritize the use of Red Hat technology across multiple clouds" said Arvind Krishna, Senior Vice President, IBM Hybrid Cloud. "In doing so, IBM will support open source technology wherever it runs, allowing it to scale significantly within commercial settings around the world."
Upon closing of the acquisition, Red Hat will join IBM's Hybrid Cloud team as a distinct unit, preserving the independence and neutrality of Red Hat's open source development heritage and commitment, current product portfolio and go-to-market strategy, and unique development culture. Red Hat will continue to be led by Jim Whitehurst and Red Hat's current management team. Jim Whitehurst also will join IBM's senior management team and report to Ginni Rometty. IBM intends to maintain Red Hat's headquarters, facilities, brands and practices."IBM's commitment to keeping the things that have made Red Hat successful - always thinking about the customer and the open source community first – make this a tremendous opportunity for not only Red Hat but also open source more broadly," said Paul Cormier, President, Products and Technologies, Red Hat. "Since the day we decided to bring open source to the enterprise, our mission has remained unchanged. And now, one of the biggest enterprise technology companies on the planet has agreed to partner with us to scale and accelerate our efforts, bringing open source innovation to an even greater swath of the enterprise."
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There is a 40% chance Apple will acquire Netflix, according to Citi
Jim Edwards
2018-01-01T08:47:44Z
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Citi analysts say that there is a 40% likelihood of Apple acquiring Netflix.Apple will be able to repatriate about $220 billion in cash to the US under the Trump tax cut.The company would need only one-third of that to snap up Netflix.There is a 40% likelihood that Apple will acquire Netflix now that US President Trump's corporate tax cut has been passed, according to Citi analysts Jim Suva and Asiya Merchant.The cut in corporate taxes, along with a one-time allowance for companies to repatriate cash stored overseas without a major tax hit, will give Apple a much larger cash warchest to buy new companies. Apple has about $252 billion in cash, much of it in foreign jurisdictions, which previously it was unable to bring back to the US.Suva and Merchant ranked potential Apple M&A targets in a note to clients sent in December. They mark Netflix as the company Apple would be most likely to buyThe note was written before Disney's acquisition of Fox's studio and TV assets. But prior to that event, Citi gave an Apple-Disney tie-up a 20-30% chance.Apple has for years struggled to offer a compelling TV or movie offering. iTunes has been a huge hit for the company, but viewers have migrated increasingly to services like Netflix, Amazon or Hulu to watch their favourite shows.Apple has recently dipped a toe into content creation: Jennifer Aniston and Reese Witherspoon will be in Apple's first scripted video series. But making hit movies is a very different skill-set from making the iPhones they are viewed on, so there is some logic to the idea that Apple might want to own Netflix in the future."The firm has too much cash – nearly $250 billion – growing at $50 billion a year. This is a good problem to have," Suva and Merchant told clients. "Historically, Apple has avoided repatriating cash to the US to avoid high taxation. As such, tax reform may allow Apple to put this cash to use. With over 90% of its cash sitting overseas, a one-time 10% repatriation tax would give Apple $220 billion for M&A or buybacks."Apple would need only a third of that cash to buy Netflix, the pair say.
Disclosure: Mathias Döpfner, CEO of Business Insider's parent company, Axel Springer, is a Netflix board member.
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With $40 million in funding and a new international expansion, Hipcamp, the Airbnb of camping, is set to capitalize on consumers' desire to get outside during the pandemic
Catherine LeClair
2020-09-02T15:12:00Z
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Campsite booking platform Hipcamp offers listings that range from yurts and glamping experiences to remote backwoods tent sites.
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On Thursday, Hipcamp announced its first international expansion with the acquisition of Australian private land booking platform Youcamp.Hipcamp was created by Alyssa Ravasio in 2013 as a way to aggregate booking information for campsites on public lands into a single site and expanded into bookings on private land in 2016.National parks and private campgrounds have seen an increase in demand during COVID-19 as many tourists have turned to camping for the first time.Ravasio said that Hipcamp has seen "an explosion in bookings" as states lifted lockdown measures.Visit Business Insider's homepage for more stories.If you've tried to go camping during the time of COVID you've likely faced a fair share of frustrations. Hipcamp, often called the Airbnb of the outdoors, aims to alleviate the process, which often goes like this:First, a cursory search for campsites at national parks leaves you empty-handed; public parks, which are routinely busy during the summer months, have seen an increase in demand during COVID-19. If you manage to nab a cabin somewhere, you might excitedly decide it's time to purchase a canoe or a bike to use during your outdoorsy summer. Well, unfortunately, those are in short supply, too. And if you actually manage to book your site, get your gear, and get your family to the nearest national park, you might be dismayed when you roll up to the entrance only to find yourself in a traffic jam of people — the very thing you were attempting to escape. Trail closures and increased traffic have meant long lines for many parks this season.Here's where Hipcamp, a campsite booking platform, comes in. The startup enables private landowners to become campsite hosts and connects them with hopeful campers.Alyssa Ravasio, the founder and CEO of Hipcamp, created the platform in 2013 after teaching herself to code with the original intention of aggregating booking information for campsites on public lands. The idea stemmed from her own frustrations with navigating the fragmented booking and planning process across websites that were not user-friendly. She wanted to help people spend more nights outside. But she quickly found out that public campsites were so popular that her app, while informative, wasn't getting more people outdoors."People kept saying the same thing: 'it's a cool product but everything is booked up,'" Ravasio told Business Insider in an interview. "Eventually we looked to private landowners as the only way to fulfill our mission."Hipcamp began partnering with private landowners in 2016 so that they could list their properties as campsites, and have now helped campers spend more than 2.5 million nights outside.Today, Hipcamp announces another milestone: international expansion with the acquisition of Youcamp, an Australian campsite booking platform that operates very similarly to Hipcamp. The Youcamp team will continue to operate its 50,000 campsite listings, which will be bookable via Hipcamp."It's like we found a sibling," Ravasio said, noting how the two company's visions for the role of private lands in recreation align. "It's a really natural fit."Ravasio felt like the country, known for its rugged outback and biodiversity, was a perfect place for the company's first foray into international expansion. "It's a country full of people who love the outdoors."Hipcamp is additionally expanding into Canada, announcing that Canadian campsites are bookable on their site as of today.To date, Hipcamp has received $40 million in funding by well-known VC firms like Andreessen Horowitz. With the expansion and Youcamp acquisition, Hipcamp now hosts over 420,000 campsite listings that range from tiny houses, yurts, and glamping experiences to small backyard patches and no-frills remote wilderness sites — and everything in between. This means that hopefully, more campers can continue to find spaces in which they can relax outdoors without needing to elbow their way into already-strapped national parks.
Hipcamp users are sending three times as much money to hosts as this time last year.
Hipcamp
Ravasio has seen firsthand that Americans are craving escapes from their homes. Hipcamp initially recorded lots of cancellations when lockdowns were first put in place in March. But reservations picked back up as soon as lockdowns were lifted and states moved into less restrictive phases.Often the same day that a state government would announce restriction liftings, Hipcamp would see "an explosion in bookings," Ravasio said. "That has really only picked up in terms of pace." Ravasio said that bookings through Hipcamp are now sending three times as much money to hosts as they were this time last year — a bright spot for rural tourism entrepreneurs during the pandemic, and further proof that the camping boom is substantial. Ravasio doesn't see the accelerated naturelust slowing down, either. Beyond the pandemic's influence on people's interest in camping, Ravasio also sees the need for nature as connected to the foregrounding of major social issues that are leaving American citizens weary."So many people are just fighting so hard right now for change," Ravasio said. "You can't fight all the time, you need to rest. And so I think providing a place for rest and relaxation, a place for people to heal and connect with themselves and their friends and family feels really powerful and important."
Ravasio believes that connecting people with nature will awaken their innate love for the environment.
Hipcamp
Some Americans, including Ravasio, have sought out more permanently rural situations, moving out of cities in favor of suburbs and small towns during the pandemic. With the rise of remote work, there's a chance that workers who would otherwise live in cities could be positively impacted by their increased contact to nature, and nudged towards caring more about the environment.Ravasio believes in a concept called "biophilia," a theory that humanity has an innate love for the natural world, developed by biologist and naturalist E.O. Wilson. Ravasio loosely explains the concept as, "when you spend time in the outdoors and with nature, you awaken this inherent love for the rest of life."Only time will tell if this moment in history gives way to a larger trend towards environmental stewardship and a long-term turn towards rural spaces, but in the meantime, Hipcamp will continue to try and get as many people outdoors as possible.
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Apple Has Acquired Voice App Startup Pullstring: Report
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Apple just reportedly bought a startup that specializes in helping companies build voice apps
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2019-02-15T22:15:42Z
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Apple has acquired Pullstring, a startup that helps customers publish voice apps, according to Axios.The acquisition could be part of an effort by Apple to catch up to Amazon, the current leader in the voice assistant space.Pullstring was last valued at $163.57 million, according to PitchBook, but the terms of the deal were not specified in the report.
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Apple has acquired Pullstring, a company that helps companies publish voice apps for platforms like Amazon's Alexa and the Google Assistant, according to a new report from Axios.The move could help Apple bolster its Siri virtual assistant, which is far more limited in terms of its features and the products it works with when compared to Amazon's digital butler, Alexa. Amazon is considered to be the market leader in the digital assistant space, and that lead only lengthens when you look at smart speaker use specifically. A Strategy Analytics report from October suggests that the retail giant accounts for 63% of smart speaker use in the United States, whereas Google accounts for 17% and Apple only accounts for 4%. Business Insider has reached out to Apple for comment and will update this story accordingly when we hear back.Pullstring was founded in 2011 and was last valued at $163.57 million, according to Pitchbook. Terms of the deal were not mentioned in the report. In addition to providing publishing assistance to developers interested in creating voice apps, the company has worked with toymaker Mattel on its talking Barbie doll called Hello Barbie, back when the startup was called ToyTalk.
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Etsy, Brooklyn's eBay for handcrafted goods-makers, says it has acquired five-person startup ad Platform Adtuitive. It's basically an "acqui-hire."
In a blog post, Etsy writes:
Etsy bought Adtuitive, the company, but ultimately companies are made up of people. This team of crafty coders – with their deep knowledge, experience of working together, and fit with the Etsy culture – will help us to more quickly and successfully serve our sellers and delight our buyers. They will work on key initiatives for 2010: improving Etsy’s search algorithms and expanding Etsy’s Showcase advertising system with an eye to improving the overall user experience on the site.
Etsy's 2009 gross merchandise sales reached $130 million at the end of October -- up from $88 million over all of 2008 (and up from $26 million in 2007).
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Salesforce is acquiring Datorama, a marketing-analytics platform that uses artificial intelligence to tell marketers whether their outreach is working.The deal is worth a reported $800 million, according to the Israeli news site CTech.It's been just two months since Salesforce closed its $6.8 billion purchase of MuleSoft, the biggest in the company's history. But the software giant's acquisition spree yet continues.On Monday, Salesforce announced its intention to acquire the Israeli marketing-intelligence company Datorama. Salesforce will pay upward of $800 million in cash for the startup, according to the Israeli news website CTech.Datorama is a marketing-intelligence and analytics platform that uses insights from artificial intelligence to help marketers understand which of their marketing campaigns work — and which don't. Its customers include a mix of marketing agencies and brands like PepsiCo, Ticketmaster, and Unilever.Salesforce will integrate the platform into its existing Marketing Cloud, a small but growing segment of the company's product portfolio. Salesforce's Marketing Cloud and Commerce Cloud, which are combined in financial disclosures, accounted for just 13% of the company's $9.7 billion in revenue during fiscal 2018.Datorama is headquartered in New York but has offices around the world, including in Tel Aviv, Israel.
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Etsy Acq-Hires Ad Platform Adtuitive - Business Insider
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Etsy Acq-Hires Ad Platform Adtuitive
Nicholas Carlson
Dec. 18, 2009, 12:15 PM
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Etsy, Brooklyn's eBay for handcrafted goods-makers, says it has acquired five-person startup ad Platform Adtuitive. It's basically an "acqui-hire."
In a blog post, Etsy writes:
Etsy bought Adtuitive, the company, but ultimately companies are made up of people. This team of crafty coders – with their deep knowledge, experience of working together, and fit with the Etsy culture – will help us to more quickly and successfully serve our sellers and delight our buyers. They will work on key initiatives for 2010: improving Etsy’s search algorithms and expanding Etsy’s Showcase advertising system with an eye to improving the overall user experience on the site.
Etsy's 2009 gross merchandise sales reached $130 million at the end of October -- up from $88 million over all of 2008 (and up from $26 million in 2007).
Don't miss: Etsy: Brooklyn's $130 Million Arts & Craft Powerhouse
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Digital World Acquisition Corp. - Insider
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Markets
2023-02-18T11:00:00Z
George Soros, Steve Cohen, and Jim Simons' funds piled into Tesla and other trendy names last quarter, while Jim Chanos took aim at meme stocks. Here's a roundup of 5 key trades.
Soros, Cohen, and Simons' funds backed Elon Musk's company, while Ray Dalio's Bridgewater Associates loaded up on meme stocks GameStop and AMC.
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2022-12-15T20:46:25Z
Donald Trump's launch of $99 NFTs sparks 10% decline in Digital World SPAC linked to Truth Social
"Collect all of your favorite Trump Digital Trading Cards, very much like a baseball card, but hopefully much more exciting. Only $99 each!" Trump said.
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2022-11-09T15:17:19Z
Trump-linked SPAC slides 23% as some candidates endorsed by the former president flounder in midterm elections
Digital World shares fell as a slate of Republican candidates backed by Trump in the mid-terms, including Dr. Oz, largely fell short in their races.
Markets
2022-11-07T19:37:20Z
Digital World soars 66% after former President Donald Trump teases a 2024 election run at Sunday rally
But if Trump is allowed back on Twitter, the appeal of an alternative social media platform could lose its luster for both Trump and investors.
Politics
2022-10-24T17:24:18Z
Rep. Marjorie Taylor Greene loses up to $41,000 after buying stock in a company that's trying to merge with Trump's 'Truth Social' platform
Rep. Marjorie Taylor Greene has seen financial losses a year after she invested in a SPAC that's set to marge with Trump's "Truth Social" platform.
Media
2022-10-18T17:17:07Z
The company behind Truth Social fired its co-founder after he shared whistleblower documents with the Washington Post, his lawyers say
Will Wilkerson said Trump Media suspended him when The Miami Herald reported on his SEC complaint. He's since been fired.
Tech
2022-09-27T11:40:16Z
The company trying to buy Trump's Truth Social has changed its HQ address from a WeWork to a mailbox at a UPS Store
The mailbox is at a UPS Store sat between a nail salon and an Italian seafood restaurant in Miami's Coconut Grove neighborhood.
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2022-09-24T12:52:01Z
Investors pull almost $140 million from the company planning to merge with Donald Trump's Truth Social
A deadline to complete Digital World's deal with Donald Trump's Truth Social passed on September 20, meaning more investors could now back out.
Markets
2022-09-22T23:49:17Z
Digital World Acquisition extends 7-day decline to 31% after Trump's Truth Social threatens a lawsuit against the SEC over delayed SPAC deal
"In light of the obvious conflicts of interest among SEC officials... TMTG is now exploring legal action against the SEC," Truth Social said.
Markets
2022-09-09T14:07:01Z
Digital World Acquisition Corp. jumps as the SPAC gets more time to gather shareholder approval to extend a merger deadline with Donald Trump's Truth Social
Digital World stretched its vote deadline after landing a $2.8 million deposit in its trust account from a company controlled by DWAC's CEO.
Markets
2022-09-06T19:20:09Z
Trump-linked SPAC falls as the company gives shareholders more time to vote on extending a merger deadline with Truth Social
Digital World Acquisition Corp. is giving shareholders two more days to vote on extending a merger deadline with Trump's Truth Social company.
Markets
2022-08-29T19:17:18Z
Digital World Acquisition Corp. extends 4-day decline to 18% as Trump defends Truth Social's performance and vote looms to delay IPO
"The Fake News Media is devastated by how well TRUTH is doing so, quite on cue, they are working overtime to criticize and demean it," Trump said.
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2022-08-22T17:29:03Z
DWAC says a drop in Trump's popularity could hurt Truth Social, and will ask investors to vote on delaying the IPO
DWAC will hold a meeting to ask shareholders whether to extend a merger deadline with Trump Media & Technology Group by one year.
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2022-07-08T10:26:18Z
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2022-06-28T11:45:12Z
The company buying Trump's Truth Social warned the deal could collapse because it's been subpoenaed by a federal grand jury
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Digital World Acquisition Corp. falls 10% as board members subpoenaed over deal for Trump's Truth Social
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2022-06-15T15:55:59Z
Digital World Acquisition stock sees wild swings as the SPAC discloses another SEC probe and reiterates plans to merge with Donald Trump's Truth Social
Digital World said it "appreciates" the SEC's task to protect investors and acknowledged that it is cooperating with the agency's investigation.
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2022-04-27T19:28:00Z
Digital World Acquisition spikes 23% as Elon Musk tweets about Twitter's competition
"Truth Social (terrible name) exists because Twitter censored free speech." In a follow-up, Musk tweeted: Should be called Trumpet instead!"
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2022-04-25T19:08:48Z
Digital World Acquisition falls 15% after Elon Musk buys Twitter for $44 billion
"Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square," Elon Musk said after buying Twitter for $44 billion.
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The SPAC taking Trump's Truth Social public slides 11% as 2 key executives reportedly depart the social media app
DWAC shares have been under pressure recently following the rocky launch of the Truth Social conservative media app.
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Coca-Cola Acquires AdeS for $575 Million
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Coca-Cola just made a $575 million departure from soda
Kate Taylor
2016-06-01T14:13:43Z
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Smoothies made with AdeS juices.
AdeS
Coca-Cola is buying the biggest soy-beverage brand in Latin America. On Wednesday, Coca-Cola said it and the Mexico City-based franchise bottler Coca-Cola Femsa were acquiring AdeS from Unilever for $575 million.
AdeS is the leading seller of soy-based beverages, including milk and fruit juice, in Latin America, with a presence in countries including Brazil, Mexico, and Argentina. The brand generated net revenues of $284 million in 2015, Coca-Cola said."AdeS complements and reinforces our noncarbonated beverage portfolio offer, providing our consumers with a wider range of choices," John Santa Maria, CEO of Coca-Cola Femsa, said in a statement. The acquisition comes with Coca-Cola eager to expand beyond the sugary sodas for which it is best known.
8.5 ounce bottles of Coca-Cola at the Cadillac Championship golf tournament in Doral, Fla.
AP Photo/Wilfredo Lee
"Over the last 15 years, we've gone from stills being a single-digit part of our portfolio to now over 25% of our portfolio," Coca-Cola COO James Quincey said in an earnings call in April. Still, or noncarbonated, beverages include water, sports drinks, and juice. "We expect to continue to grow faster in stills ... and we'll continue to look for acquisitions to accelerate our growth."
Coca-Cola purchased a 40% stake in Nigeria's largest juice maker, TGI Group's Chi Ltd, in January, with plans to buy the rest within the next three years. In April the company agreed to purchase the beverage business of China Culiangwang Beverages Holdings, which specializes in "multigrain beverages," for $400.5 million.Coca-Cola is diversifying its products as soda sales slump globally. In the first quarter of the US, the company's sales of sparkling beverages, including Coke and other sodas, remained flat, while sales of still beverages increased 7%.Ultimately, the soda giant needs to diversify to survive. With the acquisition of AdeS, it's clear that this diversification is not limited to the US.
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ZA | M&A | 1 | [
{
"label": "M&A",
"score": 1
}
] |
SOLD: NEW YORK STOCK EXCHANGE GETTING ACQUIRED FOR $8.2 BILLION
http://www.businessinsider.com/new-york-stock-exchange-acquired-2012-12
en-us
Thu, 20 Dec 2012 08:25:00 -0500
Wed, 19 Jun 2013 19:14:06 -0400
Linette Lopez
http://www.businessinsider.com/c/50d3fcf6ecad04e52f000001
Pissed
Fri, 21 Dec 2012 01:08:54 -0500
http://www.businessinsider.com/c/50d3fcf6ecad04e52f000001
The fact that this deal was done on 12/20/2012 instead of 1/20/2013 means that the NYSE doesn't pay 700 to 800 million more in capital gains taxes. Proof that next year is going to be abysmal. Just like why all the liberal papers (read WaPo) have moved their dividend payments to 12/26/2012. Hilarious! Wieland electronics just moved its operations in NC to Canada, which as a mostly socialist country has lower taxes than the US. My optimism shows no bounds...
http://www.businessinsider.com/c/50d35b03ecad04237c000015
Nicolas
Thu, 20 Dec 2012 13:37:55 -0500
http://www.businessinsider.com/c/50d35b03ecad04237c000015
It is also one more end of NYC and the USA as we know it.
http://www.businessinsider.com/c/50d34e2569bedd522300000a
Miss_X2
Thu, 20 Dec 2012 12:43:01 -0500
http://www.businessinsider.com/c/50d34e2569bedd522300000a
Already done.
http://www.businessinsider.com/c/50d3348669bedd556500000c
steelerdude
Thu, 20 Dec 2012 10:53:42 -0500
http://www.businessinsider.com/c/50d3348669bedd556500000c
Can we sell Washington too with all govt officials with it?
http://www.businessinsider.com/c/50d32f3069bedd735a00000d
suckers
Thu, 20 Dec 2012 10:30:56 -0500
http://www.businessinsider.com/c/50d32f3069bedd735a00000d
There is a sucker born every minute
http://www.businessinsider.com/c/50d31e4aeab8ea2b2000001e
bittergreen
Thu, 20 Dec 2012 09:18:50 -0500
http://www.businessinsider.com/c/50d31e4aeab8ea2b2000001e
End of Era? It started with the move to decimals, and was complete with Reg NMS. Something along these lines has been inevitables since then.
Soon the NYSE floor will be nothing more than a venue for Business Insider to hold it's annual SAI Hot 100 party.
http://www.businessinsider.com/c/50d31e22eab8ea0028000001
On Its Way
Thu, 20 Dec 2012 09:18:10 -0500
http://www.businessinsider.com/c/50d31e22eab8ea0028000001
NYSE is well on its way to becoming really cool condos.
http://www.businessinsider.com/c/50d31e076bb3f7877500000a
a. jaques
Thu, 20 Dec 2012 09:17:43 -0500
http://www.businessinsider.com/c/50d31e076bb3f7877500000a
Think someone knew? NYX was highlighted on OptionsDigger.com on 12/05: <a href="http://tinyurl.com/cn6m5vw" target="_blank" rel="nofollow" >http://tinyurl.com/cn6m5vw</a>
http://www.businessinsider.com/c/50d31ca369bedd6e2a00000d
black swan
Thu, 20 Dec 2012 09:11:47 -0500
http://www.businessinsider.com/c/50d31ca369bedd6e2a00000d
"In comes the new Boss; same as the old Boss."
The new boss is worse than the old boss:
"What is ICE Trust U.S., and who owns it? ICE US Holding Co., which was established in 2008 as the parent of ICE Trust U.S., is located in the Cayman Islands. Yet none of the owners of ICE US Holding Co. are based in the Caymans. IntercontinentalExchange, Inc., which owns 50 percent of ICE US Holding, is headquartered in Atlanta, Georgia. Among the other owners of the Caymans company are Citigroup, Goldman Sachs, J.P. Morgan, Merrill Lynch and Morgan Stanley, which are headquartered in New York. Bank of America, which now owns Merrill Lynch, is based in Charlotte, North Carolina. Deutsche Bank (Frankfurt) and both UBS and Credit Suisse (Zurich) are also part owners.
Derivatives lie close to the heart of the debate over financial reform, yet no one appears to have examined the ICE exchange, whose ownership means it will be the world’s main credit default swap clearinghouse; nor has anyone explained how its ownership structure might enrich the banks who own ICE US Holding Co. at the expense of U.S. taxpayers."
http://www.businessinsider.com/c/50d315d2ecad046c7a000011
earlgray1787
Thu, 20 Dec 2012 08:42:42 -0500
http://www.businessinsider.com/c/50d315d2ecad046c7a000011
They should have a Tag Sale' ... ha, ha, ha' ... funny'.
http://www.businessinsider.com/c/50d314ae69bedd0e14000030
CaptGizmo
Thu, 20 Dec 2012 08:37:50 -0500
http://www.businessinsider.com/c/50d314ae69bedd0e14000030
Hmmm.....The title of this article should be more like: "Out with the old corrupt group , in with another corrupt group" or some lyrical content from a WHO song maybe: "In comes the new Boss; same as the old Boss...won't get fooled again". | M&A | 1 | [
{
"label": "M&A",
"score": 1
}
] |
Adobe's Acquisition of Marketo Will Be for $4.75 Billion
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It's official: Adobe will acquire Marketo for $4.75 billion
Becky Peterson
2018-09-20T17:17:06Z
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Adobe will acquire marketing software company Marketo, the company announced Thursday.The price tag: $4.75 billion.Marketo is owned by private equity firm Vista Equity Partners who bought the company for $1.8 billion in 2016.UPDATE: Adobe confirmed on Thursday that it will acquire Marketo for $4.75 billion.
Adobe is in late stage talks to acquire Marketo and a deal could be announced in the next several days, according to a source familiar with the company.Marketo, privately held marketing automation company, could sell for more than $5 billion, the source said. Private equity firm Vista Equity Partners bought the company for $1.8 billion in 2016. Adobe, which is looking to enhance its offerings in the business-to-business space, looked like it would near a deal late last week, according to sources familiar. Reuters first reported Adobe's interest, which Business Insider separately confirmed.Adobe did not immediately respond to a request for comment.Marketo grows Adobe's foothold in business-to-businessThe deal, which was first reported by CNBC, is highly strategic for Adobe as it increases its foothold in the business-to-business space.The deal has "competitive implications for Salesforce," analyst Terry Tillman of SunTrust Robinson Humphrey wrote in a note to clients earlier this week."Adobe has increasingly become a competitor to Salesforce, especially post its recent acquisition of Magento in the digital commerce market. Given Marketo’s market leadership serving the marketing automation needs of enterprise B2B organizations, consolidation of Marketo could create increased competitive dynamics in Salesforce’s Marketing Cloud business," Tillman wrote. Salesforce and Marketo have partnered together for years, though that relationship was complicated in 2013, when Salesforce acquired Marketo competitor ExactTarget for $2.5 billion. ExactTarget eventually became the Salesforce Marketing Cloud.
Adobe has made several strategic acquisitions in recent months, including the acquisition of the e-commerce platform Magento Commerce for $1.68 billion in May. In April, Abode acquired the computer vision software company Uru, as well as Sayspring, a platform for creating voice-enabled apps.
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Things to Consider for Customer-Acquisition Strategy
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4 common mistakes that could be killing your customer-acquisition strategy
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2017-04-07T16:35:00Z
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A business simply cannot survive without having the right strategy in place to build a growing consumer base. Customer acquisition is the lifeline of any business, and it should be high on the priority list for any business looking to scale and have long-term viability.Of course going after new leads doesn’t come without its pitfalls. Identifying the potential for growth is one thing, but executing the game plan effectively and getting a strong return on investment in exchange can be the real challenge.The good news is that with every challenge comes an opportunity for growth. And while customer-acquisition strategies may vary depending on business type and needs, there are common mistakes to avoid across the board.Here are some important ones to keep in mind.1. Letting short-term results dictate the larger strategy.A successful customer-acquisition strategy is as much an investment of time as it is money. Your product or service wasn’t created overnight, and the same logic applies to customer acquisition. It’s imperative to give the strategy enough time to fully develop, so don’t reach for the panic button prematurely if the results you’re hoping for don’t materialize within a week or two.Rather, companies should approach it as a long-term play, as potential customers will likely take their time to do research on how your offerings stack up against the competition. Of course, if results are slow to develop beyond that immediate time frame, that's when it's time to revisit the overall strategy and tweak certain metrics accordingly.2. Not maximizing customer data.A great jumping-off point when setting out to define your target audience is to look at your existing customers. That will help you better define key parameters when it comes to things like acquisition costs, consumer behavior, interests, and social-media tendencies. The goal is to identify which marketing channels best resonate with your existing audience and target prospective customers accordingly.3. Relying on a one-dimensional strategy.While identifying which marketing channel is the most successful among your current audience is important, don’t let that give you tunnel vision. Especially today, when digital media has opened up a world of possibilities and cross-platform channels, the wider the net you cast, the more likely you are to get results. Don’t rely on just social media. Or just SEO. Or just content. Do it all.4. Undervaluing first impressions.As is the case with many things in life, first impressions are crucial when it comes to vying for the attention of prospective customers. As the adage goes, you only get one chance to make a good first impression. It’s great that your company offers a new, unique product or service that people are now becoming aware of, but what’s the game plan to keep that potential consumer engaged enough to eventually drive conversions?Whether it's via a website or mobile app or another platform, the goal is to make the experience as simple and clear-cut as possible while maintaining a sense of excitement. Showcase what you’re offering and why it ultimately matters using strong visuals and attention-grabbing content.Learn how CenturyLink can be the key to continued growth for your business.This post is sponsored by CenturyLink Business.
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Microsoft Could Buy Discord for $10 Billion: Bloomberg, NYT
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Microsoft is in talks to buy chat app Discord for more than $10 billion, according to reports
Grace Dean
2021-03-23T10:42:39Z
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Microsoft is in talks to buy Discord for more than $10 billion, according to two reports Tuesday.
The chat app boomed during the pandemic and now has more than 140 million monthly users.
Discord launched in 2015 for gamers to talk while they played but has grown to a broader user base.
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Microsoft is considering buying
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, the voice-chat and messaging app that has boomed in popularity during the pandemic, for more than $10 billion, Bloomberg and The New York Times both reported Tuesday.Discord has held talks with Microsoft and other potential buyers, but no deal is imminent, people familiar with the matter told both publications."I know they are in active discussions with a select few parties," one person told GamesBeat. "The market is in a state where they could command strong double-digit billions of dollars."Read more: Microsoft's embrace of virtual reality is a clear sign that it's building its Teams chat app to be as major a platform as Microsoft Office itself
One of the people told Bloomberg said that Discord was more likely to go public than to sell itself.The reports of a possible acquisition come within a month of the former Pinterest exec Tomasz Marcinkowski joining Discord as its first chief financial officer.Discord raised $100 million in a funding round in June, and The New York Times reported that investors valued the app at $7 billion in December.Microsoft and Discord declined Bloomberg's and The New York Times' request for comment.
Both companies did not immediately respond to Insider's request for comment.Discord, which offers audio, video, and text chat on Mac, PC, iPhone, and Android devices, launched in 2015 for gamers to talk while they play, but has since grown to a broader user base.It has boomed during the pandemic, as more people have worked, played games, and socialized online, and it says it now has more than 140 million active monthly users.The app is free, but users can upgrade to Discord Nitro, which offers higher video quality, server boosting, a higher upload limit, enhanced-quality live-
streaming
, and a custom Discord tag, for $9.99 a month or $99.99 a year.
The app said its 2020 revenue topped $100 million.Microsoft investing big in gamingAcquiring Discord would be another major gaming-focused investment for Microsoft.In September, the company said it was buying Bethesda Softworks' parent company, ZeniMax Media, in a deal worth $7.5 billion.The deal brought all of Bethesda's game studios — which make blockbuster franchises such as "Doom," "The Elder Scrolls," and "Fallout" — under the Xbox Studios umbrella.
Microsoft has been trying to buy other social-media sites to add to its $26.2 billion acquisition of LinkedIn in 2016. It said last summer that it was in talks with ByteDance to buy TikTok's US operations, and it also reportedly tried to buy Pinterest, the photo-sharing app worth $51 billion, which would have been Microsoft's biggest deal yet.
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ShipMonk Acquires Ruby Has in E-Commerce Arms Race
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E-commerce logistics startup ShipMonk doubled in size with its latest acquisition. Its CEO says more deals are coming.
Emma Cosgrove
2022-01-19T19:00:00Z
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Jan Bednar is founder CEO of ShipMonk
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ShipMonk has acquired an e-commerce outfit with warehouses in the US, Canada, and the UK.
The deal is the first of multiple acquisitions planned by ShipMonk CEO Jan Bednar.
Since 2020, ShipMonk has raised $355 million from private equity investors.
E-commerce fulfillment startup ShipMonk has acquired competitor Ruby Has Fulfillment, nearly doubling its warehouse footprint from 1.3 million to 2.4 million square feet and gaining eight warehouses in the US, Canada, and the UK. The deal closed in November for an undisclosed sum. ShipMonk and Ruby Has both pick, pack, and ship orders for relatively small e-commerce businesses. Since 2020, ShipMonk has been raising big bucks — $355 million in total — from private equity investors Periphas Capital and Summit Partners. This acquisition is a taste of how founder and CEO Jan Bednar is putting it to use. Last year he acquired a Mexican fulfillment business."Adding additional geographies where the Ruby's team had expertise is one of the really highly-valued elements of the acquisition. It's probably not the biggest one though," Bednar told Insider. Beyond the physical growth the acquisition brings, Ruby Has caters to slightly larger retailers than ShipMonk. Bednar is keen to gain that expertise as his small customers grow and their fulfillment needs evolve. Acquiring Ruby Has is like "filling in a hole in the ShipMonk ecosystem," Bednar said, and a bid to hold onto his existing customers for longer. Bednar said the Ruby Has team will also fill some talent holes in his organization.
Rafael Zakinov is the founder and CEO of Ruby Has Fulfillment.
Ruby Has Fulfillment
The wild west of VC-backed warehousingRuby Has founder Rafael Zakinov and Bednar got into the fulfillment business around the same time (2011 and 2014, respectively), for the same reason. They had growing e-commerce businesses but couldn't find fulfillment providers that worked for them. Much of the fulfillment market that caters to small shippers consists of independent warehouses run as single units, what Bednar called "mom and pop shops." He (and his competitors) aim to replace a fragmented landscape with optimized networks of fulfillment centers. Venture capitalists have focused on the fulfillment space of late: ShipBob has raised $330 million in VC, Deliverr $490 million, most of which came in the last year. But Zakinov, who hasn't taken VC investment and also grew his business through acquisitions, worries massive rounds and billion-dollar valuations may be a bad sign. "When you see pricing, you can kind of tell if they're profitable or not, or how exactly are they trying to grow?" His competitors, he said, are "essentially burning money." He called ShipMonk's pricing more realistic, which he saw as an early sign of a cultural fit. ShipMonk bootstrapped its business for the first several years. "There's so much money that is flowing into the business that, at some point, that's going to stop," Bednar said. "Because even now we're already seeing that a lot of companies are having a much harder time raising cash on a negative gross margin business." M&A frenzy ShipMonk's not the only fulfillment player spending on growth. ShipHero made two warehouse acquisitions in the fourth quarter. Cart.com acquired Sauceda Industries last year and has already tripled its footprint by acquiring FB Flurry this month.Experts predict a barn burner of a year in logistics mergers and acquisitions. ShipMonk, too, has more acquisitions in mind — which in a real estate market literally running out of industrial space could lead to an all out arms race. "I think the biggest thing for us is to prove to the world that this is an industry where acquisitions can work really well, because there's not been a very well known roll-up strategy model in the fulfillment space," Bednar said. If all goes well integrating Ruby Has, the second half of the year will be busy, Bednar said, with both domestic and international acquisitions on the table.
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What Dennis Crowley Was Thinking When He Walked Away From A ~ $125 Million Foursquare Acquisition Offer
http://www.businessinsider.com/dennis-crowley-foursquare-acquisition-rumor-2012-3
en-us
Thu, 01 Mar 2012 11:03:00 -0500
Fri, 24 May 2013 23:04:48 -0400
Alyson Shontell
http://www.businessinsider.com/c/4f4faab269bedd3929000027
wei-min chu
Thu, 01 Mar 2012 11:58:26 -0500
http://www.businessinsider.com/c/4f4faab269bedd3929000027
Foursquare is toast and Crowley knows it. Reason he is even talking to BI about such is cause he wants the suitors to come back.
http://www.businessinsider.com/c/4f4fa0dbeab8ea8c6a000030
Dude
Thu, 01 Mar 2012 11:16:27 -0500
http://www.businessinsider.com/c/4f4fa0dbeab8ea8c6a000030
No way,Foursquare worth only $125 million.Foursquare May Actually Be Worth $1 billion and half. | M&A | 1 | [
{
"label": "M&A",
"score": 1
}
] |
Elon Musk Officially Owns Twitter and He's Already Firing Executives
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Elon Musk is officially Twitter's new owner, and he's firing executives already
Kali Hays and
Grace Kay
2022-10-28T00:30:23Z
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Twitter and Musk fought for months over his attempt to back out of the acquisition.
Now Musk is taking over the company, ousting executives and setting meetings with engineering teams.
"The bird is freed," he tweeted.
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Elon Musk is now the owner of Twitter.Thursday evening, Twitter and Musk formally closed on the billionaire's offer to take the company private by paying $54.20 per share, equal to about $44 billion, sources close to the deal told Insider. Musk made a U-turn on the offer in October, after spending months trying to back out of the agreement. The same evening, Musk also ousted CEO Parag Agrawal and CFO Ned Segal, the sources said. Chief legal officer Vijaya Gadde and general counsel Sean Edgett are out, too."The bird is freed," Musk tweeted late Thursday.Musk has been at Twitter's San Francisco headquarters this week, meeting with workers and holding impromptu discussions with them in the cafe, Insider reported. He entered the building on Wednesday carrying a large bathroom sink, a nod to it "sinking in" that he is Twitter's new leader. An all-hands meeting with employees is expected to take place on Friday.
Yesterday, Musk changed his Twitter bio to read only "Chief Twit." He previously said he would become the leader of Twitter, although the title of CEO is not important to him. "I don't really care what title is, but obviously, people do need to listen to me," he told employees in June. Musk also runs Tesla, where his official title is "Technoking," in addition to leading roles at SpaceX, Neuralink and The Boring Company. As a result of the new deal, Twitter's lawsuit against Musk over the $44 billion purchase will come to an end after Twitter files for the case to be dismissed in the Delaware Court of Chancery, University of Michigan business law professor Erik Gordon said.The judge overseeing Twitter's lawsuit against Musk gave them until Friday, October 28 to reach an agreement outside of court or face a five-day trial next month. A trial was originally set to be held earlier in October, but after a series of orders in favor of Twitter and the publication of some private text messages from Musk, he returned to the bargaining table. While the two sides were said to be close to agreeing on a deal at $50 per share, Musk ultimately went back to his original offer of $54.20.Representatives for Twitter and Musk did not respond to messages seeking comment.
Musk first agreed in late April to buy Twitter. By the start of May, he was privately expressing reservations about the deal he'd signed and soon tweeted it was was "on hold," launching months of back and forth over seemingly pretextual claims about "bots" or inauthentic accounts on Twitter.While Musk said in an initial statement on the acquisition that he wanted to control Twitter, in part, to "defeat the spam bots," he proceeded to claim the problem was worse than Twitter had let on, amounting to fraud and allowing him to walk away from the company. He sent a letter to Twitter at the start of July, purporting to terminate the acquisition. Twitter promptly sued him in what proved to be a contentious and costly court battle.Now, with Musk in control of the company, questions continue to fly about what he will change. He has said there will be layoffs, but not how deep cuts will go. He wants to build it into a "super app," yet has laid out no plans to do so. The ousting of the C-suite has been expected for weeks, still Musk has not said who will help him lead the company.So far, Musk appears to be interested mainly in the technical capabilities of the company and its staff. The very evening the deal was signed, engineering team managers hastily messaged their staffers. Meetings with Musk had been scheduled for Friday morning with a simple directive: "bring code."
Are you a Twitter employee or someone with insight to share? Contact Kali Hays at [email protected], on secure messaging app Signal at 949-280-0267, or through Twitter DM at @hayskali. Reach out using a non-work device.
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Facebook Fined $70M for Breaching Order in Giphy Purchase
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Facebook was fined $70 million by a competition regulator for breaching an order during its Giphy acquisition
Sachin Ravikumar
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2021-10-20T11:16:29Z
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The CMA, Britain's competition regulator, has fined Facebook $70 million.
Facebook breached an order during its purchase of GIF platform Giphy, the agency said.
Facebook didn't report all required information about how it was continuing to compete with Giphy, the CMA said.
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Britain's competition regulator has fined Facebook 50.5 million pounds ($69.6 million) for breaching an order imposed during an investigation into Facebook's purchase of GIF platform Giphy, the agency said on Wednesday.The Competition and Markets Authority (CMA) said Facebook had deliberately failed to comply with its order, and the penalty served as a warning that no company was above the law.Facebook said it strongly disagreed.The CMA said Facebook had failed to provide full updates about its compliance with requirements to continue to compete with Giphy and not integrate its operations with Giphy's while its investigation was ongoing.
Facebook had refused to report all the required information, despite multiple warnings, the CMA said, and it therefore considered the failure to comply deliberate."We warned Facebook that its refusal to provide us with important information was a breach of the order but, even after losing its appeal in two separate courts, Facebook continued to disregard its legal obligations," Joel Bamford, senior director of mergers at the CMA, said."This should serve as a warning to any company that thinks it is above the law."Facebook said: "We strongly disagree with the CMA's unfair decision to punish Facebook for a best effort compliance approach, which the CMA itself ultimately approved.
"We will review the CMA's decision and consider our options."
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Is Facebook On The Brink Of Another Major Acquisition? - Business Insider
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Is Facebook On The Brink Of Another Major Acquisition?
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Facebook could bid to acquire WhatsApp, the mobile messaging app, as it aims to extend its mobile reach.
The rumoured acquisition, reported by TechCrunch today, comes after CEO Mark Zuckerberg declared last month that the future of his company lay in mobile devices.
“The big thing is obviously going to be mobile,” Zuckerberg told BusinessWeek in early October. “There are 5 billion people in the world who have phones.”
WhatsApp is an app that allows users to message one another via smartphone over the internet, and aggregates users' contacts from email, chat and social networks.
According to WhatsApp developers, their servers handle more than ten billion messages per day, and it has all but replaced text messages for teenagers who resent paying for texts or quickly reach their allotted number on cheap Pay-As-You-Go contracts.
The messaging app has users in more than a hundred countries on 750 mobile networks, and its users span operating systems including Apple's iOS, Google's Android, RIM's BlackBerry, Nokia S40, Symbian and Windows Phone platforms.
According to TechCrunch, WhatsApp is currently looking for translators in Arabic, Danish, Dutch, Farsi, Filipino, Finnish, French, German, Hebrew, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Norwegian, Polish, Portuguese (Brazil), Russian, Simplified Chinese, Spanish, Swedish, Thai, Traditional Chinese, Turkish, Urdu, “and many more languages.”
The Android version of the app has been downloaded more than a hundred million times from Google's Play Store, and is free for the first year of usage. The Apple version from the App store is $0.99 (£0.61).
It is thought Mr Zuckerberg was impressed with WhatsApp's ability to raise revenue outside advertising, which has until now been Facebook's main source of income.
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Is Facebook On The Brink Of Another Major Acquisition?
Is Facebook On The Brink Of Another Major Acquisition?
Facebook is said to be in talks with popular messaging service WhatsApp.
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Airbnb Acquires a London Startup That Helps Those With Disabilities
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Airbnb just bought Accomable, a startup that helps travelers with disabilities find places to stay
Caroline Cakebread
2017-11-16T20:09:01Z
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Airbnb just bought Accomable, a London-based startup that helps travelers with disabilities find places to stay around the world.Airbnb is also adding an "accessibility needs" checklist to its site to help people with particular disabilities search for accommodations that meet their specific needs. Accomable's founders and team will join Airbnb.
In a push to make its service accessible to more consumers, Airbnb announced Thursday it has acquired a startup that helps people with disabilities find accommodations on the road.Called Accomable and based in London, the startup has a website that features listings of accessible places to stay from around the world. The site allows users to search for accomodations that have particular accessibility features and ones that are suitable for people with specific disabilities.Relatedly, Airbnb announced it is launching a new feature that will allow people with particular disabilities to search for accomodations that meet their needs. Previously, the only accessibility feature users could search for on Airbnb was whether listings were wheelchair accessible. The new feature "will make our community more accessible and the acquisition of [Accomable] will help us accelerate our work," Airbnb said in a company blog post.
Through a spokesperson, Airbnb declined to say when it acquired Accomable or how much it paid for the company. In its blog post, Airbnb said it has already started to roll out the new accessibility feature on its site.Airbnb plans to incorporate Accomable's listings on its own site and eventually shut down Accomable's. Additionally, Accomable's team will be working with Airbnb employees to make it even easier for the latter's customers to search for accomodations with particular accessibility features, Airbnb said in its post.Accomable co-founder Srin Madipalli will be joining Airbnb.
A screenshot of the Airbnb's new "accessibility needs" checklist that allows people with disabilities to more easily find suitable accommodations.
Airbnb
The acquisition and the new search feature come as part of a larger initiative Airbnb started last year to make its service more accommodating to people with disabilities. The company also designed a new "accessibility needs" checklist for hosts. When listing a property on the service, hosts can now specify the kinds of accessibility features their homes have.
Previously, travelers who needed accessibility features other than the ability to accommodate a wheelchair would typically have to contact hosts directly to see if the hosts' homes met their needs.Airbnb said the new features won't be the end of its efforts to make its service more accessible to people with disabilities. "All of these improvements are important, but they alone aren’t the solution: they are the start of an ongoing conversation and we’re committed to doing more," it said in its blog post.
Axel Springer, Insider Inc.'s parent company, is an investor in Airbnb.
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And Now Nick Denton Will Rule The World
Alyson Shontell
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Michael SetoNick Denton, founder and CEO of GawkerGawker Media, the online-publishing network behind Deadspin and Gizmodo, is making aggressive moves to grow its international business, according to its CEO and founder, Nick Denton.
It recently acquired a small site similar to Gawker but focused on the U.S. Hispanic market called Guanabee.
Guanabee Media's founder, Daniel Mauser, is already working for Gawker and he'll be running Gizmodo en Español.
The goal is to take international revenues from 5% to 20% of the company's total in the next five years.
Gizmodo, a site focused on gadgets and tech culture, is Gawker's most popular site, with 9 million monthly unique visitors and 100 million pageviews. About one-third of its traffic is international.
In addition, Gawker is launching a native-language site in Hungary, where it has the bulk of its engineering operation. It's also hiring producers for the Budapest office and Denton says he's close to a deal in India with a local partner to expand Gawker's presence there.
Gawker has previously relied on partners who have syndicated or translated Gawker content and sold ads locally, like NetMediaEurope and Australia's Allure Media.
Denton says the goal of the Guanabee acquisition was to accelerate growth in Latin America and obtain the services of Mauser. Guanabee and Gawker have been longtime advertising partners.
Denton didn't say the terms of the deal, only that it wasn't "financially material" to Gawker.
Gawker's only previous acquisition, the 2010 deal to buy a New York-focused site, Cityfile, was disappointing. Its founder, Remy Stern, served as Gawker.com's editor-in-chief until he left in late 2011. Cityfile is not active today.
But rather than bolster Gawker's New York cred, Denton is chasing what he feels is a big growth opportunity abroad.
"About one-third of our traffic is international—and with those sites operated by our partners, that would rise closer to a half," says Denton. 'We see quite a bit of growth coming from international—I'd expect it would quadruple as proportion of total."
Gawker Media has 180 employees, 40 whom are international. The network has about 35 million monthly unique visitors and serves up 560 million monthly pageviews.
Gawker is the high-brow gossip sheet covering media, entertainment, politics and technology.
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Worsening economic conditions could mean Google Cloud has more acquisition opportunities
Hirsh Chitkara
2020-04-28T18:44:20Z
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This story was delivered to Business Insider Intelligence Connectivity & Tech Briefing subscribers earlier this morning.To get this story plus others to your inbox each day, hours before they're published on Business Insider, click here.When asked whether the pandemic could accelerate M&A opportunities in the cloud industry, Google Cloud CEO Thomas Kurian replied, "when and where it makes sense, we will jump in and decide, at the right time, to make acquisitions," according to an interview with Protocol.
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A potential acquisition would likely be aimed at adding functionality to the cloud platform, as Kurian added, "if we were to do acquisitions, [customers and partners will] know how it complements our footprint." As it stands, a strategic acquisition could help Google Cloud gain ground on competitors Amazon Web Services (AWS) and Microsoft Azure — AWS captured 32% of worldwide cloud infrastructure spend in 2019, compared with 17% for Microsoft Azure and 6% by Google Cloud, according to Canalys estimates. Acquisitions have been integral to Google Cloud's accelerated growth, as it looks to chip away at the dominance of AWS and Microsoft Azure. In 2019, Google Cloud grew its share of cloud infrastructure spend by 88% year-over-year (YoY), faster than the 64% YoY growth rate of Microsoft Azure, and 36% YoY of AWS, according to Canalys estimates.While this discrepancy is to be expected to some extent, given the difficulties of scaling faced by larger companies, it's also a credit to Google Cloud's aggressive acquisitions strategy: In 2019, the company made several acquisitions for undisclosed amounts, including Alooma, to facilitate cloud migration; Elastifile, to manage enterprise file storage on cloud; and CloudSimple, to bolster its VMware support. The acquisition spree was headlined by the $2.6 billion purchase of Looker, intended to supplement big-data cloud services. These acquisitions underscore what Kurian described as Google Cloud's complementary acquisition strategy, whereby it seeks to accelerate the development of capabilities on its cloud services. The coronavirus presents an opportunity for Google Cloud to double down on its acquisition strategy, as late-stage startups are vulnerable to worsening economic conditions, and therefore may be more open to striking a deal. With funding more difficult to come by due to the worsening economic conditions caused by the coronavirus pandemic, startups are more likely to be open to possible acquisitions, as it would be harder to sustain operations otherwise.Prominent venture capital firm Sequoia Capital, for instance, warned its portfolio companies to "question every assumption about your business," including cash runway and fundraising. At the same time, cloud revenue for big tech companies is expected to be relatively resilient to the economic downturn, as demand for connectivity and cloud services has peaked during quarantine. One potential issue with an aggressive acquisition strategy is timing: The demand for cloud services is very high now, but the benefits of an acquisition take time to materialize because of the service integration period.Want to read more stories like this one? Here's how to get access:Business Insider Intelligence analyzes the tech industry and provides in-depth analyst reports, proprietary forecasts, customizable charts, and more. >> Check if your company has BII Enterprise membership accessSign up for the Connectivity & Tech Briefing, Business Insider Intelligence's expert email newsletter keeping you up-to-date on the people, technologies, trends, and companies shaping the future of healthcare, delivered to your inbox 6x a week. >> Get StartedExplore related topics in more depth. >> Visit Our Report StoreCurrent subscribers can log in to read the briefing here.
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Amazon's $1 billion purchase of PillPack wiped out 15 times that from pharmacy stocks — and it shows the outsize effect the juggernaut can have on an industry
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Amazon's $1 billion acquisition of the pharmacy startup PillPack is the most recent in a long list of instances in which Amazon has taken huge bites out of entire industries.Nearly $15 billion of market value was wiped out from Walgreens Boots Alliance, CVS, and Rite Aid, an outsize impact relative to the deal price.When Amazon on Thursday announced plans to buy the pharmacy startup PillPack, the reckoning across the pharmacy industry's supply chain was swift and brutal.Drug wholesalers like Cardinal Health, AmerisourceBergen, and Express Scripts experienced deep losses. Walmart — another mega-cap retail with designs on entering healthcare — also saw shares fall.But no area of the market felt the pain worse than pharmacies themselves. Losses in Walgreens Boots Alliance, CVS, and Rite Aid exceeded 10% at their worst, with nearly $15 billion of market value wiped out.
Business Insider / Joe Ciolli
What transpired was the most recent in a long list of instances in which Amazon has taken huge bites out of industries. Notable about this particular case, however, is the outsize degree of the
market cap
erased relative to the price Amazon paid for PillPack.If Amazon can carve a $15 billion chunk out of just three companies with a $1 billion deal, just think of the damage it could inflict once it starts throwing around more money. After all, the Jeff Bezos-led juggernaut had $25 billion of cash on its balance sheet at the end of the first quarter — and it could amass more if it ever decides to spend less on corporate reinvestment.In a conference call with analysts on Thursday, Walgreens CEO Stefano Pessina seemed nonplussed about the damage coursing through his company's stock, saying he's "not particularly worried" about the one-day move."The pharmacy world is much more complex than just delivering certain pills or packages," Pessina said. "I strongly believe that the role of the physical pharmacy will continue to be very, very important in the future."It wouldn't be unprecedented for a stock in one of Amazon's target markets to recover. For evidence of that, look no further than Kroger, which found itself at the center of a previous Amazon-driven industry scare.Kroger dropped as much as 19% in a single day in June of last year after Amazon announced a $13.7 billion acquisition of Whole Foods, and then it experienced a fresh bout of weakness two months later after price cuts were announced. The stock has since rallied as much as 30%, climbing back near the levels seen before Amazon's megadeal.So while Amazon's influence isn't necessarily a deathknell for a stock, it's undoubtedly a short-term inconvenience, at the very least. Stay tuned for the next round, which could very well catch a whole new industry off guard.
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Morgan Stanley Confirms Solium Capital Acquisition for $900 Million
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Morgan Stanley has acquired Solium Capital for $900 million
Eleni Digalaki
2019-02-13T15:59:00Z
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This story was delivered to Business Insider Intelligence "Fintech Briefing" subscribers. To learn more and subscribe, please click here.Banking giant Morgan Stanley has confirmed the acquisition of publicly traded share plan management software company Solium Capital for $900 million in cash, per the FT.
Business Insider Intelligence
Canada-based Solium is a global provider of Software-as-a-Service for stock administration, financial reporting, and compliance; it manages employee equity plans of over 3,000 companies — including startups like Stripe — which collectively have 1 million employees.Morgan Stanley's stock-plan business serves 330 businesses with 1.5 million employees and is "geared toward" Fortune 500 companies, per The WSJ. The transaction is set to close in Q2 2019.Although the C$19.15 ($14.42) price tag per Solium share might seem steep, representing a 43% premium to Solium's closing price on Friday, the acquisition could make strategic sense for the following reasons:Morgan Stanley will gain access to Solium's millennial employees. The acquisition is expected to enhance the bank's client acquisition efforts: Morgan Stanley is looking at Solium's young, salaried clients as the future affluent customers of its Wealth Management arm. Of note, Morgan Stanley's robo-advisory was launched in the end of 2017 and could service this pool of younger customers until they're wealthy enough to transition to its human advisory service. The banking giant is the world's third largest wealth manager in terms of assets under management, behind Credit Suisse and Bank of America Merrill Lynch. Notably, by 2030, millennials in North America are expected to control $20 trillion of global assets, according to a CB Insights survey.The deal will also grant Morgan Stanley access to Solium's technology. Although the US' largest banks have not been very eager to acquire fintechs, there's been an uptick in deals since 2017. Goldman Sachs acquired Final and Clarity Money to access their talent pools and fuel consumer banking growth plans, while JPMorgan Chase snapped up WePay to access its application programming interface (API) to power payments, for instance. Acquiring a tech-savvy startup will help Morgan Stanley become a part of the sector's ongoing digital transformation.The acquisition could offer good cross-selling opportunities. Morgan Stanley could offer additional services to Solium's clients, such as managing their spare cash or winning mandates to take successful startups public.While the bank looks to organically grow its wealth management client base, it should consider upping its retail banking game to ensure customer loyalty. With Goldman Sachs' popular Marcus offshoot planning to launch a digital wealth management service, Morgan Stanley would do well to bring more banking products to market, such as a checking account, to fend off competition and do more business with its new tech-savvy customer base.
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Tullett Prebon and ICAP in Acquisition Talks
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The UK's brokerage business is about to be shaken up
Will Martin
2015-11-06T12:53:38Z
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A deal between Tullett Prebon and ICAP could help create a huge new brokerage.
REUTERS/Suzanne Plunkett
The UK's brokerage market could be about to get a big shake-up.Both the Financial Times and the Evening Standard report that two of the UK's largest brokerages, Tullett Prebon and ICAP are in discussions about a potential consolidation of their businesses.
The Financial Times reports that Tullett has confirmed it is "in discussions with ICAP regarding the possible acquisition by Tullett Prebon of Icap's global broking business."Any deal would entail Tullett taking on ICAP's "associated technology and broking platforms, associated information services revenue and certain of ICAP's joint ventures and associates."According to the FT, the company was quick to warn that no deal has been reached, saying that there "can be no certainty that transaction will be agreed."ICAP said it "confirms that it is in discussions regarding the possible sale to Tullett Prebon of ICAP's Global Broking business, including ICAP's associated technology and broking platforms (including iSwap and Fusion), ICAP's associated information services businesses and certain of ICAP's joint ventures and associates," in an emailed statement.
Earlier, the Evening Standard reported that ICAP, the £2.9 billion ($4.4 billion) brokerage, was set to take on a majority stake in Tullett Prebon. The report claimed that the two firms have been in talks for some time, and that a deal could be completed by next week.However it now appears than any consolidation of the two firms would be the other way round.News of a potential merger comes after Tullett Prebon released a pretty pessimistic trading update on Friday morning. In the statement, it announced that the company is set to cut around 5% of its front office staff, roughly 70 of 1,400 employees, and that it expects operating profit margins to drop by around 1.5% from last year.The news sent shares in Tullett, one of the UK's largest brokerages, crashing by nearly 10% in Friday morning Shares have since rebounded. At midday, shares in both FTSE250 listed companies were up by around 7.5%.
Brokerages have been struggling recently, and Tullett's trading statement this morning blamed "The continuation of low interest rate conditions and compressed bond market spreads in Europe" along with "the more onerous regulatory environment applicable to many of our bank customers whose trading activity has been suppressed by the deleveraging of their balance sheets and lower risk appetite." Business Insider has asked Tullett Prebon for further comment and is awaiting a response.
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Yahoo Just Acqui-Hired yet Another Start
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Yahoo just acqui-hired yet another start
Nicholas Carlson
2013-05-10T21:08:54Z
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VMware Buys Startup Virsto To Fend Off Microsoft
Julie Bort
Feb. 12, 2013, 12:10 PM
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VMware bought Sunnyvale storage startup Virsto today for an undisclosed sum.
The acquisition of Virsto, which is 50-people strong, is significant because it helps VMware fend off Microsoft.
Virsto allows a company's storage to be managed like it's one big hard drive, even if the company is using different types of storage technologies or the storage is located in different areas.
Microsoft is breathing down VMware's neck with a competing technology known as Hyper-V. Hyper-V is included in Microsoft's flagship server operating system, Windows Server 2012.
For many years, Hyper-V was considered the cheaper, less desirable alternative to VMware's flagship software. But Microsoft loaded WS2012 with features that, in some cases, leapfrog VMware's. One of these better features is called Storage Spaces, which works a lot like Virsto.
VMware owns 90% of the enterprise market, and Microsoft's Hyper-V isn't going to change that. But the issue is growth, which will come from small companies and large, cloud-provider data centers. Both can be very cost-conscious, which makes Microsoft more appealing to them.
Silicon Angle's John Furrier offers an excellent deep-dive analysis of the Virsto acquisition.
SEE ALSO:
10 Months From Launch To Sale: Behind The Latest Ludicrously Fast Exit In Enterprise
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VMware Buys Startup Virsto To Fend Off Microsoft
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Cisco Won't Buy Any US Companies Or Hire Any US Workers Until The Tax Code Is Changed
Julie Bort
Feb. 15, 2013, 11:53 AM
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Cisco has $46 billion in cash, but CEO John Chambers says he is no longer willing to use it to acquire U.S. companies.
That's because 80 percent of that cash is stored in overseas accounts and if Cisco spends it in the U.S., the company will have to fork over 35 percent in taxes.
For years, he has been trying to get the U.S. to change that tax rule. He's said before that this prevents him from hiring more U.S. workers.
But now he's said he's also stopped shopping for acquisition targets in the U.S., too.
That's a blow, as Cisco has historically been a company that acquires like crazy.
Cisco is not the only company hoarding cash overseas to avoid taxes. U.S. companies have about $1.7 trillion offshore. For instance, Microsoft keeps about 87 percent of its $66.6 billion stored outside the U.S.; Oracle, 80 percent of its $31.6 billion; and Apple about 68 percent of its $121.3 billion, reports CNBC's Jon Fortt.
A lot of the money sitting overseas was earned overseas, but some of it is stashed there through accounting methods, a situation that Congress has recently been investigating.
Chambers wants low tax rates when that money is used here (called repatriation), or preferably no taxes at all (called a repatriation holiday).
He explained on an interview on CNBC:
"Tax policy will determine where our growth and head count will be. I' m a very loyal American citizen and company, but in terms of future growth, unless tax policy changes, you will see that occur outside the U.S. ... wherever we acquire is where our head count growth is going to be. If the majority of our money remains outside the U.S., and this depends on tax policies, that's where you'll see us acquire going forward."
He's been true to his word so far this year.
For instance, in 2012, Cisco bought 11 companies, nine of them from the U.S. and two from overseas including its massive $5 billion purchase of U.K.-based NDS Group.
In 2013 so far, Cisco has bought two companies, both of them from overseas.
SEE ALSO: Cisco Published A Massive Report Predicting The State Of Mobile In 2017
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Cisco Won't Buy Any US Companies Or Hire Any US Workers Until The Tax Code Is Changed
Cisco Won't Buy Any US Companies Or Hire Any US Workers Until The Tax Code Is Changed
CEO John Chambers takes a stand.
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Now We Know How Many Millions Of Dollars These Startups Made Selling To Facebook
Alyson Shontell
Feb.
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Joi via FlickrOver the past four years, Facebook has acquired about 20 companies. Most of the acquisition amounts were never disclosed.
Facebook's S-1 reveals how many shares of Class A and Class B stock it issued for each acquisition. It also says it spent $68 million to acquire startups in 2011.
The S-1 doesn't say which companies were given which shares, but Inside Facebook took a good stab at matching the startups up with the issued stock dates. We also looked at Facebook's acquisition timeline and made some guesses of our own.
According to the filing, Drop.io may have received close to $40 million in stock, not the $10 million that was initially reported. FriendFeed was given ~ $330 million in Facebook stock.
Please keep in mind that the following matches are educated guesses. They also do not include any cash Facebook may have paid the startups. If you know for a fact which company belongs to which statement, please email [email protected].
Here's how much Gowalla, Drop.io, FriendFeed and others really made selling to Facebook >>
*Note: Pursuit and RecRec weren't actual business acquistions, so they were not included in this list, even though most of their teams were bought/hired by Facebook.
Also, the following numbers do not include cash-based compensation or other bonuses. Class B shares and Class A shares are issued to acquired companies, and they were valued at $29.73 per share in late December. Inside Facebook notes that one Class B share is equal to a Class A share, but Class A shares have one-tenth the voting power.
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Now We Know How Many Millions Of Dollars These Startups Made Selling To Facebook
Now We Know How Many Millions Of Dollars These Startups Made Selling To Facebook
It looks like FriendFeed walked away with ~ $330 million in Facebook stock. Not too shabby.
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Facebook Made Its Second Largest Acquisition Last Week And Its Much Bigger Deal Than You Realize
http://www.businessinsider.com/facebook-made-its-second-largest-acquisition-last-week-and-its-much-bigger-deal-than-you-realize-2012-5/comments
en-us
Wed, 31 Dec 1969 19:00:00 -0500
Tue, 31 May 2016 17:09:15 -0400
Jay Yarow
http://www.businessinsider.com/c/4fc6a0a06bb3f71276000003
Kenisha Dudden
Wed, 30 May 2012 18:35:12 -0400
http://www.businessinsider.com/c/4fc6a0a06bb3f71276000003
Things i have often told people today is that when searching for a good on the net electronics shop, there are a few components that you have to factor in. First and foremost, you should really make sure to discover a reputable plus reliable shop that has got great assessments and ratings from other consumers and business sector analysts. This will ensure that you are handling a well-known store that delivers good assistance and aid to their patrons. Many thanks for sharing your notions on this blog.
http://www.businessinsider.com/c/4fbfb5ad6bb3f7e417000034
MyGiftWand
Fri, 25 May 2012 12:39:09 -0400
http://www.businessinsider.com/c/4fbfb5ad6bb3f7e417000034
I spelled something wrong once myself... Good article. We sure wish the Karma folks luck! Apps for social commerce and especially social gifting are certainly taking off. We're really glad to hear that! It seems like there is a lot of room for innovation here. We also believe in the social gifting model. Facebook provides a great platform for the spread of egift cards. For retailers, Facebook apps like MyGiftWand is a powerful tool that helps them leverage the social network to reach a targeted demographic by providing special incentives to users based on the age, gender and location of the recipient. For consumers, the fact that social gifting is easy, fast and fun makes it a big win.
http://www.businessinsider.com/c/4fbefffeecad045a2a000006
lukmanleong
Thu, 24 May 2012 23:43:58 -0400
http://www.businessinsider.com/c/4fbefffeecad045a2a000006
spell checking is no longer available for office starter
http://www.businessinsider.com/c/4fbe5a186bb3f7912100000d
Andrew Hall
Thu, 24 May 2012 11:56:08 -0400
http://www.businessinsider.com/c/4fbe5a186bb3f7912100000d
Also, that's "champagne", not "campaign", dear God, Mr. Yarow. That's just embarrassing.
Only lobbyists buy "bottles of campaign" (and expensive ones, at that) and even they pronounce and spell it "champagne".
I usually rather like the tabloid-rag style of your site and the fact that you hire hack writers and editors who will write about anything, because it provides the widest range of viewpoints possible on your site and really no other news organization is any different, even if most pretend at it. - but there is no excuse for your writers not to do some kind of basic cross-checking on each other's work to produce a least a basic level of high-school-graduate-level spelling before you push so much copy. It would be one thing if this were breaking news, but this is not.
Can Weisenthal or Blodget or someone who actually writes like they finished twelfth grade mandate that BI editors have to use Opera or Rockmelt or another browser with a real built-in spell-checker or something, too, as this is not the first offense? Give some of your "journalists" here a few classic novels to read so they don't make embarrassing errors like this, either. If you all want to have a genuinely top-level publication worth paying money for subscriptions and advanced features on, as I suspect your OWN business plan involves, this is not going to cut it - with all due respect. Best of luck...
http://www.businessinsider.com/c/4fbe585869beddb63e00000f
Andrew Hall
Thu, 24 May 2012 11:48:40 -0400
http://www.businessinsider.com/c/4fbe585869beddb63e00000f
I don't think this is going to fix Facebook's many problems.
http://www.businessinsider.com/c/4fbe56b869bedd233c000009
wei-min chu
Thu, 24 May 2012 11:41:44 -0400
http://www.businessinsider.com/c/4fbe56b869bedd233c000009
Facebook's ecommerce efforts will always flop for privacy reasons. Are you going to buy some Viagra on Facebook?
http://www.businessinsider.com/c/4fbe54bd69beddc43900000a
John Whitehead
Thu, 24 May 2012 11:33:17 -0400
http://www.businessinsider.com/c/4fbe54bd69beddc43900000a
For my birthday I'd rather you sent me a bottle of champagne rather than campaign, thanks.
http://www.businessinsider.com/c/4fbe543a6bb3f71417000010
1 plus 1 is 2
Thu, 24 May 2012 11:31:06 -0400
http://www.businessinsider.com/c/4fbe543a6bb3f71417000010
"bottles of campaign" !! I for one, would love to buy bottles of campaign as gifts for my political buddies, am reaching out to Karma right now. | M&A | 1 | [
{
"label": "M&A",
"score": 1
}
] |
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The 10 most valuable career skills you can acquire in your spare time
Written by
Trent Hamm,
The Simple Dollar
2016-07-24T14:00:00Z
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Learn some skills in your spare time to boost your resume in a meaningful way.
Mario Tama/Getty Images
Money Magazine recently published an article that lists the most valuable career skills that a person can have, ranked by the wage premium that such skills generate on average.
In other words, they evaluated a ton of different skills that companies look for in their job postings and then evaluated how much higher those jobs paid on average than similar jobs that didn’t include those skills.For example, a lab technician job that includes a requirement for the "data modeling" skill commands, on average, a 5% higher salary than a lab technician job that does not include that requirement.To me, this kind of list is an incredibly valuable resource for people who are looking to improve their income and move ahead in their career path.It specifically identifies the exact skills that companies are willing to pay a premium for!
However, the article didn’t quite follow through in all of the ways that it might. The article offers some great general advice on how to acquire these skills, but it really doesn’t go into the specifics of what one might need to do to add these skills to their skill set (and their resume) in a meaningful way. It just provides a list and some very general ideas on furthering one’s education.I wanted to go a little further than that, so I took the top 10 items on the list and did a little homework (and, in a few cases, quite a lot of homework) to figure out what a person could do in their spare time to add that skill to their resume and skillset in a meaningful way that would help them improve their earning potential and career opportunities.Before we dig in, I want to mention one giant caveat. Not all of these skills line up well for every career. In fact, in most careers, only one or two of these skills will really make sense. It is definitely up to you to determine whether or not these skills really fit in well with the career you happen to find yourself in (or hope to find yourself in). You are far better off becoming really strong in one or two of these skills that are really well connected to and useful to your field than being mediocre in several skills.Here’s what I found.
SAS (Statistical Analysis System) – 6.1% premiumSAS is a suite of software developed by the SAS Institute for the purpose of data analytics. People use SAS in order to find patterns and trends and useful things in large data sets.This is a specific flavor of skill related to data mining, which is an incredibly popular skill these days (as you'll see on the rest of the list). In my experience (as I was once a fairly heavy user of the software), it falls into what I would describe as light computer programming specifically done to solve problems with data. It's a skill that's likely useful to anyone in business or in a technical field that ever does anything associated with sets of data of any significant size.So, how do you acquire this skill?The most obvious thing you can do is to get into the SAS Global Certification program. This is a series of classes and exams that will end up providing a certification if you know your stuff when it comes to SAS. However, the exam preparation materials that SAS themselves sell is quite expensive.So, another good way to learn the basics of SAS and how to actually apply it to real world problems at a much, much lower price (i.e., potentially free) is to take the specialization on Coursera, which consists of four courses and a capstone project.Doing that will earn a certificate of completion which, while not as big of a standout on a resume as the actual certification, will still teach you the skill and is resume worthy. You can also individually complete the four courses without the certification and without the capstone project for free.The SAS software itself is very expensive, so this skill is probably easiest to acquire in the workplace if your workplace already has SAS (which many workplaces that use lots of data do). Check with your boss as to whether your workplace has a SAS license and make sure it's okay to use it for personal learning before diving in (it probably will be and your boss will likely be impressed with your personal initiative).
Data mining / data warehousing – 5.1% premiumThe number two item on the list is in many ways just a general version of the first item on the list – after all, SAS is a specific tool used for data mining. This skill also expands into dealing with the need to store and secure large quantities of data as well, not just in the analysis of that data.So, again, how can someone acquire this skill in a resume-friendly fashion?If you're looking for an inexpensive approach, there are two specializations at Coursera that fit the bill here. First, Harness Business Data is a great series of four courses on the concepts and practice of data warehousing, including some great practical exercises and projects. I'd also point at the four course specialization mentioned earlier, Learn Data Science Fundamentals.Again, as I mentioned earlier, you can pay a fee to get an official certification for these specializations and the courses within (along with a capstone project for each) or you can just take the courses for free without a certificate of completion (though you can still demonstrate that you completed those courses).If you're looking for a more "industry standard" certification and are willing to pay for it, The Data Warehousing Institute has been a standard certification for a while for people wanting to get a respected certification in data warehousing. It's fairly pricey, but you'll learn a great deal in the process and you'll have a certification that people will value.Another option is to earn Stanford University's Mining Massive Data Sets Graduate Certificate. While it's very pricey, the courses are taught by top notch people and it's got the Stanford University name on it, which absolutely can't hurt.Do you need the expensive SAS software mentioned above to do these things? While SAS is obviously worthwhile (as described above), you can complete most of (if not all of) the things above using the free programming language Python, which is already on most Macs and is easily installed on Windows computers.Python is a good fundamental skill to have and to list on a resume as well and there are many opportunities to learn it very cheaply or even for free; I really like the learning environment at CodeAcademy and it's mostly free.
Search engine marketing – 5.0% premiumSearch engine marketing is the art of getting websites and individual web pages listed in prominent places on search engines, especially Google and to a lesser extent Bing and Yahoo!. There's a litany of strategies and tricks to doing this that all fall under the umbrella of "search engine marketing" or "search engine optimization."This is an area where there really isn't a widely respected certification of any kind. Instead, most companies that look for this skill are looking for practical experience, such as taking a website and having it rank well in search engines when people search for a potentially popular phrase or word. They're much more interested in the conclusion of a search engine marketing project than any certification.So, how can you learn this?The best course I've found for search engine marketing is the SEO Training Course by Moz available at Udemy for free. It does a great job of grounding you in the basics of search engine optimization and gives you everything you need to take on a search engine optimization project of your own.The real key, though, is actually executing such a project on your own. You might consider doing this for the website of the company you currently work for or for the website of a group or organization you participate in. Simply take the techniques that you learn from the course and actually apply them to that website. Attempt to improve that site's rankings on relevant keywords, then see if there's any improvement in traffic on the site in question. Those project results will provide the valuable element you need for your resume.
Data modeling – 5.0% premiumData modeling is the practice of defining a way to organize information that describes something in a clear fashion that can later be searched, retrieved, and analyzed.For example, a person with data modeling skills might be challenged to come up with a way to organize data that could be used to fully describe a particular new product line or, in my own personal experience, a particular variation of a plant. What is distinct about these things? How can you store that distinct data so that it's useful in the future?In terms of a strong introduction to data modeling at a reasonable price, the free Coursera course Model Thinking can provide a very thorough background on the field. While it's not a professional certification, it is a great way to get your grounding in the field and gain an understanding of what specifically you may want to study or know that would be useful for your field, which can launch you toward something more tailored to your specific situation. If you have a more business-oriented approach, the Business and Financial Modeling sequence of courses might be more specifically useful.The leading tool used in the data modeling field is ERwin, though many, many other tools are used. It is well worth your time to figure out which specific tools are used in data modeling related to the specific career path you're in and do what it takes to learn and earn certifications for those specific tools. If you're not sure, take a look at job positions related to your field that include data modeling and see what tools they're looking for.
Contract negotiation – 5.0% premiumThe ability to negotiate a contract is invaluable in many fields. So much of today's professional world revolves around business arrangements between businesses and individuals as well as contracts between businesses, and well-written and strongly negotiated contracts are vital to the success of all involved parties. People who can negotiate those contracts are really in demand.The catch is that this isn't really a skill you can get certified for. Your best approach is to get a strong background on the basics of how to figure out what the needs of each party are and how to negotiate through those needs to come up with a solution that benefits all parties (particularly the one you're negotiating for). This is often best done through practice and experience.If you want to get started building this skill, I'd get some basic background in contract negotiation. One great way to get the basics for free is through the Successful Negotiation: Essential Strategies and Skills course at Coursera. While this alone isn't likely resume worthy, it will get you some of the basics that you need to build upon.After that, look for opportunities in your current workplace to get involved in contract negotiations. Any time that there are contracts being negotiated, volunteer to be involved in that process or even to manage that process, and then apply those principles in a real situation. The more you negotiate, the easier it becomes and the stronger your skills become.The resume-worthy part of this is being able to list contracts that you've actually negotiated, which can clearly fulfill a potential employer's desire for contract negotiation skills.
Software development – 4.9% premiumSoftware development is the entirety of the process needed to take a piece of software from concept to finished product. Typically, it revolves around the actual programming aspects, as well as the organization and management of the computer code generated throughout the project.In other words, to nail this skill, you need to not only be able to write computer programs, you also need to be able to use tools that manage lots of code used by a multitude of people all working on the same project.Most universities offer entire degree programs centered around this topic, so it's a skill that's not necessarily one you can pick up in a few months in your spare time. Learning software development is a long process, no matter how you slice it. However, software development is a perfect thing to learn as a side gig. It's also something that you can show off in terms of being involved in a noteworthy finished product.Your first step would be to find out what particular specific skills would be useful in your field. If someone is developing software that's related to what you're doing, what languages are they using? What tools are they using?Look for projects related to your field and find out. Some fields rely heavily on Python and use tools like cvs. Others use the Microsoft suite of tools. Others might write in C and use Github or Sourceforge. It really depends on your field and the specific needs of that field.Once you know what you need to know, take online courses to learn those specific languages and tools. CodeAcademy is a great place to start for many computer languages.Once you've worked through some projects on your own, get involved with an open source project. This is perhaps the best way to build software development skills in your spare time. It's going to feel like jumping into the deep end of the pool, so perhaps start with a small project that's related to your field.Look through the code and the organization of that code and see what you can do to contribute to that code to add new features or fix bugs. After a while, you'll be listed as a contributor to those projects, at which point you have a great resume line that shows off your software development skills.
Strategic project management – 4.4% premiumStrategic project management refers to the management of a project so that it's fully in alignment with the overall vision and strategy of the business as a whole. The goal isn't just to finish a project as stated, but to have an array of outcomes that all benefit the overall strategy of the business. It's sometimes also called "advanced project management" or "enterprise project management."While you can certainly study this in business school, most of the actual skill (and benefit) of strategic project management comes from actually practicing it with real projects on the ground.So, how can you do that? The first step, of course, is to actually manage projects. You should look for opportunities in the workplace to take on the management of projects of any size, building your overall project management expertise. If there's a chance to lead a project, jump on it.Along the way, I recommend finding a mentor in your field who actually has a lot of experience managing projects, preferably someone that's already progressed down your career path to a place you hope to be someday. Take that person out to lunch. Look for advice from that person. Ask that person questions. Give that person help whenever you can.As you're doing this, learn about the basic principles of strategic project management. One very highly regarded book that's well worth reading is Strategic Project Management Made Simple by Terry Schmidt. What you'll find is that strategic project management principles mix in quite well with the normal ins and outs of project management – it just gives you a new context and new tools for making decisions.Project leadership on a resume is always good; amping it up with a strategic angle is even better.
Strategic planning – 4.3% premiumSo, what's the flip side of strategic project management? It's strategic planning – coming up with the broader plan that is directly implemented through strategically-managed projects. As Wikipedia puts it, "[s]trategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy."Again, although there's a good certification program in the field, the best way to get this on your resume is through actual work experience, and the best way to get started is to get involved in your workplace. Look for any and all opportunities to get involved in long-term planning groups and committees. You can – and should – also look for opportunities for strategic planning in organizations outside the workplace, as this is an activity that many nonprofits engage in as well. Get involved with community groups and look for chances to be involved in their strategic planning.To learn more about strategic planning as you also acquire experience, take a look at this free Coursera course from the University of Virginia entitled Strategic Planning and Execution. You can take it as a free standalone course, but it's also part of an overall sequence of courses on business strategy. There are few better ways to build a skill than to learn in a classroom environment and then immediately apply what you've learned.The top certification for strategic planning is the Association for Strategic Planning's Strategic Planning Professional certification, which actually has a requirement that you either have to be involved in strategic planning at your job or you've taken requisite business classes for it. This certification is a great way to hammer home strategic planning as a part of your resume and can definitely help improve your skills as a strategic planner, although nothing trumps true experience in strategic planning.
Technical sales – 4.3% premiumTechnical sales refers to the practice of a salesperson who is responsible for selling a complex technical product to a customer. This requires not only strong sales skills, but also sound backing in the nuance and purpose of the product and how it can be used by the customer. Selling lab equipment to a research lab is a great example of technical sales.Often, technical sales as a skill is built by people already within the field who add sales skills to their existing technical knowledge, so take that as a starting point. Rather than looking to study technical sales as an independent thing, invest your time in learning about salesmanship in general and try applying it to the real situations you see in your field.Sales in general is more of an art than something you can study, so just look for opportunities in the workplace to be involved in selling technical products. What does your company make? Do they employ salespeople? Can others within the company get involved in that training? Are you serviced by salespeople? How did they get trained, and how can you get into that?If you're looking for a course to take that might assist you, many people speak highly of the Hubspot Inbound Certification and Training, which is a general marketing and sales course that's free and actually appears on many resumes.A key book that is frequently recommended for people interested in pursuing technical sales is "Mastering Technical Sales" 3rd Edition by John Care and Aron Bohlig. This would serve as a strong supplemental read to the other activities described here.
Customer service metrics – 4.3% premiumCustomer service metrics refers to the generation and analysis of data designed to measure the quality and efficiency of customer service. Such data is often used to make management decisions regarding customer service.As with many of the other items on this list, the best way to start building knowledge and experience in the area of customer service metrics is to get involved with them in your own workplace. How is customer service managed? How is the success of it measured? At a small or medium sized company, you'll often find ample opportunity to run with this idea as many small businesses are very limited in how they measure and evaluate customer service. Getting involved in implementing a customer service metrics project and then showing how the data was used to improve customer service without a major increase in cost is a spectacular resume builder.But where do you start? A great free introductory class in using metrics for business, particularly in the customer service area, is Business Metrics for Data-Driven Companies, offered for free by Duke University through Coursera. This course will give you the basics on how companies generate and use data to evaluate and improve their own performance and will give you a great starting point.The best certification for customer service metrics that's available is the COPC Standards certification. That certification provides a solid all-around certification for the management and planning of customer service departments as well as the use of and generation of metrics that you can use to measure the success of your customer service department as well as measure the efficiency of your customer engagements. This is a great item to have on a resume if you're shooting to get that customer service metrics pay premium.
Final thoughtsAll of these options provide a great opportunity for you to bolster your resume and open yourself up to significant increases in pay as you move up the career ladder. However, there are a few general tips that I consider vital.Focus only on skills that make sense on your career path. Don't use this as some kind of checklist. Instead, seek out just the top one or two skills that really make sense in the field that you're in and that interest you.Classes and certifications and books are great, but always be looking to apply what you learn. Try to find situations where you can put these things you learn into practice in a professional context. One great way to do this is to be mentored by someone who has that skill or to be a part of a team with more experienced people on it. That way, you get a chance to learn and practice these skills without having all of it thrust on your shoulders immediately. Another great way is to treat your experience as a "side project." Maybe your boss will let you spend five hours a week setting up some customer service metrics at work so that even if it doesn't work out it's not a big loss to the business.It's going to take some significant spare time to learn these skills, and probably some cash, too. Building skills takes time. It's not something you can just do in an evening. You have to work at it. Not only that, certifications in general aren't free and university courses are very expensive. If you're going to commit to building a skill, commit to it. Block off time each day for building that skill, whether through reading, practice, coursework, certification, or something else.In the end, it's all about taking that next step in your career path so that your earnings and opportunities go up and up and up. These skills are an investment of time and money; they just happen to be ones that seem to have a great opportunity to earn a nice return on your investment.
Trent Hamm
The Simple Dollar is a blog for those of us who need both cents and sense: people fighting debt and bad spending habits while building a financially secure future and still affording a latte or two. Our busy lives are crazy enough without having to compare five hundred mutual funds – we just want simple ways to manage our finances and save a little money.
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AOL In Talks To Acquire Mashable -- Reports
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Valleywag's Ryan Tate says AOL is in talks to acquired Mashable, the very popular blog about social media.
Industry wonk Robert Scoble says the deal is done, tweeting: "My sources confirm that Mashable is being sold to AOL. Trying to get more details now."
If the price is right, the deal makes plenty of sense to us.
AOL is trying to transition from an ISP to a next-generation media company.
It already has 80 or so independently branded blogs and is planning to grow to more than 100.
The problem with the strategy so far, however, has been that AOL's blogs tend to be overly-dependent on traffic from AOL.com -- which is trafficked in large part by AOL's dwindling ISP subscribers.
Mashable -- bigger even than TechCrunch -- is very popular and wouldn't depend a whit on other AOL properties.
But will the deal happen? We asked Ryan about his story and he told us:" No doubt AOL finds them attractive, and it sounds like talks ongoing, but will they close? Hard to say."
Mashable co-editor Ben Parr tells us: "No comment."
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GooglePage: Sorry startups, you actually have to make products for us now.
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For a few years now, Google has acquired dozens of companies every year.
That's not going to change any time soon.
But last year, when cofounder Larry Page took over as CEO again, the type of acquisitions Google makes changed.
Now, according to an article by Slate's Farhad Manjoo, who talked to Google M&A boss David Lawee, instead of buying "interesting" companies with "interesting" founders pursuing "interesting" problems, Google will only buy companies that will definitively propel one of Google's seven main product lines forward.
Those product lines are: search, advertising, social networking, Android, Chrome, YouTube, and local mobile commerce.
The pattern started to show last year, when Google bought ITA for search, Motorola for Android, Next New Networks for YouTube, and Zagat for local mobile commerce.
Another big change – that may seem like a no-brainer! – under Page, Manjoo says, newly acquired teams are no longer allowed to "disappear without ever producing a product."
Ah, to own Internet's most perfect monetization engine and not have to have start worry about these kinds of common sense changes until decade number two…
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REPORT: Aetna Is Acquiring Coventry Health Care - Business Insider
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REPORT: Aetna Is Acquiring Coventry Health Care
Sam Ro
Aug. 20, 2012, 12:47 AM
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From the Wall Street Journal's Sharon Terlep and Anupreeta Das:
Health-care giant Aetna Inc. has struck a deal to buy Coventry Health Care Inc. for $5.7 billion in cash and stock, a move that will make Aetna one of the largest providers of government-financed health care, people familiar with the matter said.
Aetna, based in Hartford, Conn., is paying $42.08 a share for Coventry, which is a 20.4% premium to Coventry's shares as of Friday's close, according to the people. The mix is 65% cash and 35% stock, the people said.
Read more at WSJ.com.
DON'T MISS: Morgan Stanley's Brilliant Presentation On The Fiscal Cliff, And What Happens If We Fly Off Of It >
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Microsoft Shutting Down $280 Million Acquisition
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Microsoft Shutting Down $280 Million Acquisition
Jay Yarow
2010-10-08T20:55:19Z
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Microsoft is shutting down Massive, an in-game ad company it acquired for about $280 million in 2006, MediaWeek reports. Microsoft was trying to sell the company but it couldn't find any buyers.In game advertising didn't end up being the big business Microsoft hoped. Massive was also doing work with EA at the time of the acquisition. EA ended up doing its own ad work and didn't need Massive.
Another problem -- the Xbox team didn't play nice with Massive, says MediaWeek:...according to sources, Massive’s ad sales efforts were never fully integrated within the Xbox team. In fact, at the time of the acquisition, several Xbox executives were said to be against the deal, but ex-Microsoft executive Cory Van Arsdale and other members of the company’s business development team had pushed hard to buy Massive, citing the fast-growing interest in the gaming space among brands.
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Eric Jackson Slams Yahoo for Buying Polyvore
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Hedge funder slams Yahoo: It is unacceptable to pay $230 million for zombie companies run by former Googlers
Maya Kosoff
2015-12-14T15:37:17Z
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On Monday morning, Eric Jackson, manager of hedge fund SpringOwl, sent a brutal 99-page presentation to Yahoo's board, outlining his case for why the company should drop Marissa Mayer as CEO and find new management.Tension has been mounting since Yahoo abandoned its plans last week to spin off its share in e-commerce giant Alibaba.
Jackson points out that Yahoo has burned through $3 billion on M&A in the past three years since Mayer took the reins, which contributes to $10 billion in what Jackson calls Yahoo's misallocated capital.The value of all of those startups Yahoo has acquired, Jackson says, is worth nothing at Yahoo's current stock price.Jackson also points out that Yahoo has a history of buying up startups run by former Google APM members. While at Google, Mayer started the company's elite associate product-manager program. Of the 49 acquisitions Yahoo has made under Mayer's leadership, six were startups founded by ex-Googlers. The total cost of these six acquisitions is $319 million, according to Jackson's slide deck.Here are all of those acquisitions, with the acquired startups founded by former Googlers circled in red:
SpringOwl
Under Mayer's leadership, Yahoo made a reputation for itself by acquiring tons of startups. When she started, Mayer said that one way she intended to restock the company with talented engineers was through small acquisitions. These transactions are often called "acqui-hires," and they are often a nice way for a failed company to have an amenable end.
Yahoo bought Polyvore in July for $230 million. Polyvore, a social commerce site that lets users make artistic collages of clothes and accessories, was founded by three Yahoo alums, including Jess Lee, whose relationship with Mayer dates back to Lee's days as a Google APM more than a decade ago.At the time of the acquisition, Yahoo said it bought Polyvore because of the "amazing potential" of the combination of Yahoo's premium content and the startup's expertise in community-driven experiences and retailer-supported commerce.But Jackson does not mince words when it comes to Yahoo's decision to spend shareholder money acquiring Polyvore and companies like it. "It's not acceptable to pay $230M for zombie companies run by former APM members," he says, pointing out that Polyvore had raised $22 million in VC funding, was 8 years old, and had gone through multiple pivots. For all intents and purposes, it looked like a goner until Yahoo bought it.
SpringOwl
According to Jackson's presentation, Mayer pushed for the Polyvore deal at $230 million despite SpringOwl's belief that there's no justification for the valuation. He also says that anonymous sources have told his firm that besides Mayer, no Yahoo employees wanted to do the Polyvore deal through Yahoo's "deal review" process.
In Jackson's view, Yahoo's core business is badly in need of a turnaround, but it's still undervalued after being poorly managed by Mayer. Selling today would mean selling it at a low point. He thinks selling Yahoo right now would only enrich some private-equity people while current shareholders would miss out on upside.Here is a complete list of the startups Yahoo has acquired with Mayer at the helm:
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Social Influence Measurement Site Klout Acquired For $200 Million
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Elon Musk Called Jeff Bezos a Copycat After Amazon Acquires Zoox
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Elon Musk trolls Jeff Bezos, calling him a copycat after Amazon acquires self-driving-car startup Zoox
Katie Canales
2020-06-26T18:21:26Z
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REUTERS/Joshua Roberts
Tesla CEO Elon Musk called Amazon CEO Jeff Bezos a copycat on Friday after news broke of Amazon's reported $1.2 billion acquisition of the self-driving startup Zoox.The tweet used a yellow cat icon instead of the word cat.Amazon's acquisition is a step forward for the company into autonomous driving, an arena that Musk's Tesla has been seeking to dominate.Visit Business Insider's homepage for more stories.
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Tesla CEO Elon Musk took a jab at Amazon CEO Jeff Bezos on Twitter Friday, just a day after the Financial Times reported the Seattle tech giant acquired the self-driving-taxi company Zoox for $1.2 billion.In the tweet, Musk called Bezos a copycat but used a yellow cat icon instead of the word "cat."—Elon Musk
(@elonmusk) June 26, 2020Amazon declined Business Insider's request for comment.The tweet comes as Amazon's acquisition puts the company at a more leveled playing field with Tesla in the self-driving arena.
Business Insider's Mark Matousek reported in May that Amazon was interested in Zoox to help round out its package-delivery processZoox's vehicles are designed for ride-hailing, unlike Tesla's, which are designed to go directly to customers.Tesla and Zoox have traded jabs before. Musk said in 2019 that by mid-2020, his company's self-driving cars would be fully operational without human interaction, meaning drivers wouldn't have to look at the road while driving. At Business Insider's 2019 IGNITION conference, Zoox cofounder and Chief Technology Officer Jesse Levinson said there was no chance of that happening."They don't have enough sensors or computers to do that given any remotely known technology that exists that humans have ever created," Levinson said at the conference, adding "they're great cars" and that the Tesla Autopilot system "on the freeway is, I think, the best out there ... I think if he focused on that aspect it would be better received."
Tesla's Autopilot feature, even in its "full self-driving" options, is not yet fully autonomous and still requires human interaction. Zoox was recently valued at $3.2 billion. Like other autonomous-vehicle companies, Zoox has taken a hit from the economic fallout of the COVID-19 pandemic and laid off 120 employees in April. The company has struggled to raise capital recently, according to Axios, and this deal could help it stay afloat.
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Twitter Flight: Twitter Fabric Acquires Fastlane
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Twitter buys Fastlane, a popular tool for building iPhone apps, and adds Android support
Matt Weinberger
2015-10-21T19:12:23Z
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Twitter CEO Jack Dorsey at Twitter Flight 2015
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Twitter has acquired Fastlane, a set of tools that found a lot of popularity with iPhone developers as an easy way to constantly test and update their apps.Twitter's Fabric is a set of services designed to make life easier for application developers. For instance, Fabric's Digits product is an easy way for a developer to turn a phone number into an app username, turning your cell phone into kind of a universal identity. Fastlane fits in well, helping developers ship more apps, faster. And getting a popular tool like Fastlane is important, as Twitter works hard to rebuild trust with the developers it shut down hard over the last few years. On stage at Twitter Flight, the company's annual developer conference, Fastlane was presented as a new integration with Fabric, Twitter's platform for app developers. Other popular developer tools like payments platform Stripe and the Amazon Web Services cloud were also announced as integrations.But a Twitter spokesperson confirms that Fastlane was an acquisition. Technically, it was an acqui-hire, since it seems that Fastlane creator Felix Krause was also the company's only employee. "In just a short time, Fastlane became the most popular iOS automisation toolset, used by thousands of developers around the world," Krause says in a blog entry talking about the deal.For the last two months, Krause has been working from Twitter's San Francisco headquarters, he writes, focused on building out Fastlane.Today, Fastlane also announced two new additions to the product: First, a new tool called "Scan," which automates testing, and second, beta support for Android apps. Also important, as far as not annoying developers: Fastlane has always been available as a free download, available as "open source" for programmers all over the world to look at and improve on. Krause says his employment at Twitter won't change that at all.
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Amazon Buys Online Pharmacy PillPack in Latest Healthcare Push
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Amazon just bought a tiny startup most people have never heard of, and it's scaring the heck out of pharmacy shareholders
Joe Ciolli
2018-06-28T12:55:00Z
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Amazon CEO Jeff Bezos. The US company ranks as the world's No 1 provider of cloud computer services, but for how long?
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Amazon on Thursday announced plans to buy the online pharmacy PillPack, marking its latest push into the healthcare industry.The announcement reverberated through the pharmacy supply chain, with the stocks of pharmacies and drug wholesalers getting hit hard.This is just the most recent example of Amazon's ability to disrupt an industry with a single action.Amazon on Thursday announced it had signed an agreement to acquire PillPack, an online pharmacy.PillPack's business is built around customers who take multiple daily prescriptions. It offers medications in presorted dose packaging, coordinates refills, and handles shipments.The $1 billion cash deal marks Amazon's latest push into the healthcare industry. In January, the company announced a collaboration with JPMorgan and Berkshire Hathaway meant to reduce healthcare costs for US workers."PillPack's visionary team has a combination of deep pharmacy experience and a focus on technology," Jeff Wilke, Amazon's CEO of worldwide consumer, said in a release. "PillPack is meaningfully improving its customers' lives, and we want to help them continue making it easy for people to save time, simplify their lives, and feel healthier."Pharmacy stocks in the US market dropped on the deal announcement, most notably those of CVS (-8.1%), Rite Aid (-3.1%), and Walgreens Boots Alliance (-9.2%).The damage also spread through the pharmacy supply chain, with drug wholesalers seeing deep losses. Shares of Cardinal Health, AmerisourceBergen, McKesson, and Express Scripts all dropped more than 3% on the news.
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Amazon's ability to rock an industryPharmacy shareholders will perhaps find solace in the fact that they're not the only industry to have billions in market value erased by a single Amazon announcement. The trend has been playing out repeatedly over the past year, with grocery stores, athletic-apparel retailers, and package-delivery services among the afflicted groups.The reasoning is simple: Amazon has a ton of cash and an unparalleled logistical network, and when it looks poised to enter or expand its position in a market, traders get scared and bail out of holdings in competing companies.And if Amazon's torrid stock performance in recent months is any indication, the company's shareholders love the deal activity, among other fundamental drivers. The firm's shares have spiked 435% since the beginning of 2015, more than 14 times the return for the benchmark S&P 500 over the same period.
Markets Insider
Getting one up on WalmartAmazon's acquisition of PillPack is sure to rankle the business-development team at Walmart, which was reportedly looking at buying the pharmacy startup in early April.As Business Insider's Lydia Ramsey has pointed out in the past, the two rivals are locked in a battle to reach the elderly market, which by 2050 is expected to double from where it was in 2012.An aging population means we'll see an increase in health concerns and chronic conditions like
heart disease
, neurodegenerative diseases, and cancer that can be costly to manage. It also offers a business opportunity for those companies best placed to meet the healthcare needs of this growing population.Based on Thursday's news, Amazon appears to have the leg up, at least for now. Stay tuned for the latest twists and turns as the nation's largest corporations battle for healthcare supremacy.Now tell us what you think!
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6 Reasons Why So Many Acquisitions Fail
http://www.businessinsider.com/why-acquisitions-fail-2012-10/comments
en-us
Wed, 31 Dec 1969 19:00:00 -0500
Sun, 01 May 2016 19:33:57 -0400
Jim Price
http://www.businessinsider.com/c/508abb14eab8ea4d0200000b
Alpha Directed
Fri, 26 Oct 2012 12:32:20 -0400
http://www.businessinsider.com/c/508abb14eab8ea4d0200000b
Id say ~50% of all acquisitions are never made to be accretive nor are they to further the acquirers business. They are strategic bets that are made to keep the product, service or talent from their competitors which is where the real trouble would come from. | M&A | 1 | [
{
"label": "M&A",
"score": 1
}
] |
Report: Meta's Giphy Acquisition Set to Get Blocked by Regulator
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Meta's acquisition of Giphy is set to be blocked by an antitrust regulator, report says
Isobel Asher Hamilton
2021-11-29T12:36:26Z
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Meta CEO Mark Zuckerberg.
Alex Wong/Getty Images
The UK's antitrust regulator is set to block Meta's acquisition of Giphy, sources told the Financial Times.
Meta — formerly Facebook — announced in May 2020 that it was acquiring Giphy.
The regulator said in a provisional finding it believed the merger would harm competition.
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Meta — the company formerly known as Facebook — is set to have a major acquisition blocked by the UK's antitrust regulator, per a report from the Financial Times.Sources familiar with the matter told the FT that the UK Competition and Markets Authority is expected to reverse Meta's acquisition of Giphy in the coming days.The FT did not specify when the announcement would be made, but the CMA has a deadline of December 1 to issue its decision. Facebook announced in May 2020 it was acquiring Giphy for $400 million. Antitrust regulators in the UK and Australia announced a month later that they were scrutinizing the deal.
The CMA's initial enforcement order stopped Facebook from integrating with Giphy while it conducted the probe.The CMA issued a provisional finding in August 2021 saying the merger would harm competition, and that the only effective remedy would be for Meta to sell Giphy. In that finding, the CMA said control over Giphy could give Facebook an unfair advantage over rival social media platforms such as Snapchat and TikTok which also use Giphy. It also argued that the merger would remove Giphy as a potential competitor to Meta in the display
advertising industry
.Although Meta and Giphy are both US companies, the CMA has jurisdiction over any acquisition where the combined parties control over 25% of a particular good or service supplied in the UK. The CMA said that, together, Meta and Giphy would control an 8o-90% market share of searchable animated sticker libraries.
The CMA fined Facebook $70 million in October this year as part of its probe, saying the company had not provided enough information about how it continued to compete with Giphy. Facebook objected to the fine, saying it was doing its best to comply with the CMA's requirements.Meta did not immediately respond when contacted by Insider for comment on the FT's report. The CMA declined to comment when contacted by Insider.Prof. Greg Taylor, an associate professor of economics at the Oxford Internet Institute, said it's within the CMA's powers to block the acquisition entirely. He added the CMA could also choose to block certain parts of the deal.If the CMA enforces against Meta's acquisition, Taylor said it will mark a turning point for Big Tech companies.
"Outside of the tech world, mergers get investigated all the time and it's not that unusual for them to be blocked or to have some sort of remedy imposed upon them. Within specifically the tech sphere, there's been almost no major intervention to prevent the merger by one of the major tech firms, despite the fact that, collectively, they've acquired hundreds of firms in the last couple of decades," Taylor told Insider."The first time that we see such a merger blocked, it's really, I think, drawing a line in the sand," he added.Meta has come under increased antitrust scrutiny from lawmakers along with other Big Tech companies over the past few years, and in July 2020 Rep. David Cicilline chair of the US House antitrust subcommittee said the company should be broken up over "classic monopoly behavior."Earlier this month, founders of a photo app called Phhhoto filed a lawsuit claiming Facebook cloned and crushed their app after initially offering a partnership.
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Open Road Films Acquires Rights To 'jOBS' After Bidding War Over The Ashton Kutcher Flick
http://www.businessinsider.com/open-road-films-acquires-rights-to-jobs-after-bidding-war-over-the-ashton-kutcher-flick-2013-1/comments
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Gawker Acquires CityFile - Business Insider
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Gawker Media Buys CityFile In Its First-Ever Acquisition
Joe Weisenthal
Feb. 15, 2010,
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Compete.comGawker Media is making its first-ever acquisition, buying NYC-focused blog CityFile.
With the move, CityFile founder and editor Remy Stern will take over as editor-in-chief of Gawker.
Current editor-in-chief Gabriel Snyder is moving on, though according to a memo (below) he was asked to stay on in a management capacity. (Update: Snyder sees things a bit differently. See his memo here.)
CityFile will be folded into Gawker, a la Valleywag.
While CityFile's readership isn't enormous, the site boasts a top-notch readership, and a very clever database of over 2144 NYC notables. It's the type of database we suspect Gawker will be able to get a lot of juice (SEO and otherwise) out of, with a lot of potential for expanding.
And it doesn't sound as though this will be the company's last deal. The company has been looking at other opportunities, and in the announcement, prospective sellers are invited to reach out to to them.
Compete.com
And here's the full internal memo announcing the deal
----
For the first few years of Gawker Media, the business press had one abiding preoccupation: when are you going to sell out? Today we're giving the M&A gossips something else to talk about. The company is making its first acquisition: Cityfile, the New York news site founded by Remy Stern. The price is not being disclosed.Cityfile will be the New York and media industry channel on Gawker, alongside Valleywag and Defamer, our tech and entertainment sub-sites. Cityfile's 2,000-plus profiles of New York notables will be the centerpiece of our new topic and people pages. And Remy Stern, a former writer on several Gawker sites and editor at the now-legendary Radar magazine, will take over as editor-in-chief of Gawker. He starts on February 22nd.We had hoped to persuade Gabriel Snyder to stay in a management role. But he's moving on. With help from an awesomely strong team of writers and the new Gawker.tv operation, Gabriel doubled Gawker's audience during his tenure (http://bit.ly/c6BXk8.) To anyone out there looking to build up an online property: pick him up quickly.Does this mean Gawker is going on an acquisition spree? Well, it's a question of scale. Each of the Gawker titles does already have more than 1m US visitors a month -- making them usually the largest or second largest blog title in their category. Nevertheless the threshold of advertising success does continue to rise and we're increasingly competing online with TV and newspaper groups.Moreover, we've long actively managed our portfolio of properties, selling Consumerist to Consumers Union last year, for instance -- or closing down unsuccessful properties. To achieve critical mass in entertainment and tech, we have indeed looked at a few opportunities in the last few months. If online media is consolidating, we'd rather be a consolidator than consolidatee. And revenue growth of 22% in 2009 provides the resources. (Deal ideas? Contact Gaby Darbyshire.)Don't get too excited, however. The successful launches of Jezebel and io9 confirmed our belief that it's usually more effective to build than buy. Lifted by the iPad launch and the late-night TV wars, our nine sites -- all launched inhouse -- drew a US audience of more than 14m in January. Our best investment continues to be the recruitment of great writers and producers on our own sites -- and the pursuit of hot stories
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Gawker Media Buys CityFile In Its First-Ever Acquisition
Gawker Media Buys CityFile In Its First-Ever Acquisition
CityFile's Remy Stern to take over as Gawker editor-in-chief. Site will be rolled into Gawker.
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Etsy Acq-Hires Ad Platform Adtuitive
Nicholas Carlson
Dec. 18, 2009, 12:15 PM
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Etsy, Brooklyn's eBay for handcrafted goods-makers, says it has acquired five-person startup ad Platform Adtuitive. It's basically an "acqui-hire."
In a blog post, Etsy writes:
Etsy bought Adtuitive, the company, but ultimately companies are made up of people. This team of crafty coders – with their deep knowledge, experience of working together, and fit with the Etsy culture – will help us to more quickly and successfully serve our sellers and delight our buyers. They will work on key initiatives for 2010: improving Etsy’s search algorithms and expanding Etsy’s Showcase advertising system with an eye to improving the overall user experience on the site.
Etsy's 2009 gross merchandise sales reached $130 million at the end of October -- up from $88 million over all of 2008 (and up from $26 million in 2007).
Don't miss: Etsy: Brooklyn's $130 Million Arts & Craft Powerhouse
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Etsy Acq-Hires Ad Platform Adtuitive
Etsy Acq-Hires Ad Platform Adtuitive
The team will work on Etsy search algorithms.
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Break Media Acquires Gaming Site FileFront
Nick Saint
Feb. 11, 2010, 11:00 AM
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Keith RichmanBreak Media, a network of websites targeting 18-34 year-old men, announced the acquisition of gaming site FileFront today.
Exact financial details of the deal have not been disclosed, but CEO Keith Richman tells us the sale price was "in the low to mid seven figures".
FileFront provides editorial content and user forums as well as downloads of trailers, demos, and full games. The site claims 9 million global monthly unique visitors (ComScore has them at 6.1 million) and over 200,000 active forum users.
Break plans to overhaul the site's design and add more editorial content. Break recently founded a game development studio, and FileFront will provide a more targeted distribution platform for its games.
Altogether, Break Media claims its sites reach 100 million men per month, and comprise the 37th largest web property in the country.
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Break Media Acquires Gaming Site FileFront
Break Media Acquires Gaming Site FileFront
The high-traffic network of sites for young men adds a gaming site for "low to mid seven figures".
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Google's New Shipping Acquisition Makes It Pretty Clear That It's Gunning For Amazon - Business Insider
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Google's New Acquisition Sure Makes It Seem Like It's Gunning For Amazon
Alyson Shontell
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BufferboxGoogle has made an interesting new acquisition that suggests it may be attacking Amazon's shipping business.
It just bought BufferBox Inc, a Y Combinator startup, for an undisclosed sum. BufferBox is a kiosk that can be placed in local venues around the nation for self-service parcel pick-up. In other words, if BufferBox becomes popular, you could walk into your local CVS and pick up a package you ordered from an online merchant.
This is a product -- not a talent -- acquisition. BufferBox will continue operating within Google.
"We're going to keep doing BufferBox," Google engineering director Steve Woods told Financial Post. "We’re not going to go into great detail about our future plans, but we think there’s a real exciting space beyond this amazing start with boxes, and the idea of touching consumers as part of their end-to-end experience is something we’re going to explore together. I don’t think we would say even definitively what it’s going to be, but we’re going to do some great things together.”BufferBox had plans to undercut even the cheapest shipping services and deliver packages to its kiosks for $3 or $4. (USPS costs about $5.25 per package. UPS and FedEx cost more.) It also planned to set up 100 kiosks around the Toronto area in 2013.
So, what does Google want with a shipping company?
The Economist has one idea.
"Google is experimenting with a service that would let folk find goods online, order them and have them delivered within a day for a modest fee," The Economist wrote this morning. "This seems similar to Amazon’s hugely successful 'Prime' service, which costs $79 a year to join in America. Rather than try to replicate the e-commerce giant’s extensive network of warehouses, Google is looking for partnerships with shipping companies and retailers instead. But if it is serious about taking on Amazon, it may ultimately have to buy a logistics firm. At $69 billion UPS has a market value less than a third of Google’s; it is valued at less than twice the search giant’s cash pile."
The Economist implies that Google could jump whole hog into fulfillment and logistics, and that it could becoming the back-end ecommerce delivery system for the world.
Of course, that is an entirely different business than the business Google is in right now. And it's not clear why Google would want to be in that business, especially with so many other promising opportunities to invest in.
So, what do you think Google wants with a startup like BufferBox? Is this really the beginning of a full-on shipping war between Google and Amazon?
Disclosure: Jeff Bezos is an investor in Business Insider through his
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Google's New Acquisition Sure Makes It Seem Like It's Gunning For Amazon
Google may be seriously getting into the shipping business.
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Daily Mail Enters Competition to Acquire Yahoo
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How Daily Mail could seriously improve its business by acquiring Yahoo
Andrew Meola
2016-04-12T15:15:00Z
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WHY THE DAILY MAIL WANTS TO BUY YAHOO
This story was delivered to BI Intelligence "Digital Media Industry Insider" subscribers. To learn more and subscribe, please click here.The competition to buy Yahoo is starting to get crowded, and a new contender has entered the field.Daily Mail's parent company, Daily Mail and General Trust, has expressed interest in purchasing the Internet company, according to the Wall Street Journal. The company is reportedly in talks to with private equity companies to either outright acquire Yahoo or create a new company in which Daily Mail would be the majority shareholder.Approximately 40 companies (including Verizon, Time Inc., and major private equity firms) have shown interest in acquiring Yahoo.Yahoo could integrate into Daily Mail's digital strategy and ultimately improve it. For starters, Yahoo would increase Daily Mail's international presence, particularly in the U.S. The company has highlighted the U.S. as a growth priority for core websites Mail Online and Elite Daily, and it debuted a U.S. version of Daily Mail in 2012.The U.S. version has become a significant growth driver for the company, as it reached 66.7 million unique visitors in February, according to comScore. Yahoo, meanwhile, ranks fifth on Alexa's top 500 websites and has a collection of more than 50 local websites globally, including the highly regarded Yahoo Japan. If Daily Mail does acquire Yahoo, then the international sites would provide an avenue for Daily Mail to expand its global presence.Daily Mail could further integrate Yahoo's digital news outlets into its own coverage. Yahoo Finance, for example, would fill a hole in Daily Mail's coverage, and Yahoo Finance's popularity among millennials would integrate seamlessly with Elite Daily's largely millennial audience. Yahoo's
streaming
agreements with sports leagues would also be a natural expansion for Daily Mail's own sports offerings.Finally, Yahoo would help boos Daily Mail's digital ad revenue. This revenue grew 27% to an estimated $32.1 million last year for Mail Online. But Yahoo's ad revenue dwarfs this, as display ads on the site brought in $291 million in the fourth quarter of 2015 alone. If Daily Mail were to acquire Yahoo, then it would access Yahoo's enormous ad network and ultimately grow its ad operations.That last point is critical, as dollars are increasingly flowing from traditional ads to digital, as strong growth in mobile, video, and social spending continue to change the face of the US media market.Over the next five years, marketers will especially embrace mobile. Mobile will drive up spending on video, search, display, and social, and propel the migration of ad dollars away from traditional media, including newspapers and magazines.BI Intelligence, Business Insider's premium research service, has compiled a detailed report that forecasts spending trends for the major digital ad formats — including search, display, and video — and mobile vs. desktop. It also examines trajectories for social ad spending and programmatic ad buying, which cut across digital formats. Finally, the report looks at how spending on traditional media formats will grow or contract over the next five years, as digital, and particularly mobile, rises.
BI Intelligence
Here are some of the key takeaways from the report:Mobile will be the fastest-growing advertising channel and buoy spending on each of the digital formats. US mobile ad revenue will rise by a 26.5% CAGR through of 2020.Digital video ad spending is rising faster than search and display. US digital video ad revenue will rise by a CAGR of 21.9% through 2020.Mobile search will overtake desktop search ad revenue by 2019. Mobile search ad spend will rise by a 25.2% CAGR, while desktop search ad revenue will decline during the same period.Mobile display ads, including banners, rich media, and sponsorships, will overtake desktop display-related spending even earlier, in 2017.Social media ads, which cut across display and video, are seeing fast adoption. US social media ad revenue, which includes video and display ads, will grow by a CAGR of 14.9% through 2020.The rapid embrace of programmatic ad-buying tools is fueling a dramatic uptick in the share of digital ad spending coming through programmatic channels. Programmatic transactions will be a majority of total US digital ad spend this year.Unlike digital, traditional ad revenue will remain flat overall through 2020. Total traditional ad revenue will rise by a CAGR of just 0.4% between 2015 and 2020.In full, the report:Forecasts ad revenue for emerging digital ad channels and formats like mobile, video, social and programmatic over the next five yearsExplores why ad revenue is flowing from desktop to mobileExamines the stagnation of traditional advertising channels like TV, magazines, and newspapersTo get your copy of this invaluable guide, choose one of these options:Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> START A MEMBERSHIPPurchase the report and download it immediately from our research store. >> BUY THE REPORTThe choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the digital media advertising.
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SOLD: NEW YORK STOCK EXCHANGE GETTING ACQUIRED FOR $8.2 BILLION
http://www.businessinsider.com/new-york-stock-exchange-acquired-2012-12/comments
en-us
Wed, 31 Dec 1969 19:00:00 -0500
Wed, 25 Nov 2015 00:11:56 -0500
Linette Lopez
http://www.businessinsider.com/c/50d3fcf6ecad04e52f000001
Pissed
Fri, 21 Dec 2012 01:08:54 -0500
http://www.businessinsider.com/c/50d3fcf6ecad04e52f000001
The fact that this deal was done on 12/20/2012 instead of 1/20/2013 means that the NYSE doesn't pay 700 to 800 million more in capital gains taxes. Proof that next year is going to be abysmal. Just like why all the liberal papers (read WaPo) have moved their dividend payments to 12/26/2012. Hilarious! Wieland electronics just moved its operations in NC to Canada, which as a mostly socialist country has lower taxes than the US. My optimism shows no bounds...
http://www.businessinsider.com/c/50d35b03ecad04237c000015
Nicolas
Thu, 20 Dec 2012 13:37:55 -0500
http://www.businessinsider.com/c/50d35b03ecad04237c000015
It is also one more end of NYC and the USA as we know it.
http://www.businessinsider.com/c/50d34e2569bedd522300000a
Miss_X2
Thu, 20 Dec 2012 12:43:01 -0500
http://www.businessinsider.com/c/50d34e2569bedd522300000a
Already done.
http://www.businessinsider.com/c/50d3348669bedd556500000c
steelerdude
Thu, 20 Dec 2012 10:53:42 -0500
http://www.businessinsider.com/c/50d3348669bedd556500000c
Can we sell Washington too with all govt officials with it?
http://www.businessinsider.com/c/50d32f3069bedd735a00000d
suckers
Thu, 20 Dec 2012 10:30:56 -0500
http://www.businessinsider.com/c/50d32f3069bedd735a00000d
There is a sucker born every minute
http://www.businessinsider.com/c/50d31e4aeab8ea2b2000001e
bittergreen
Thu, 20 Dec 2012 09:18:50 -0500
http://www.businessinsider.com/c/50d31e4aeab8ea2b2000001e
End of Era? It started with the move to decimals, and was complete with Reg NMS. Something along these lines has been inevitables since then.
Soon the NYSE floor will be nothing more than a venue for Business Insider to hold it's annual SAI Hot 100 party.
http://www.businessinsider.com/c/50d31e22eab8ea0028000001
On Its Way
Thu, 20 Dec 2012 09:18:10 -0500
http://www.businessinsider.com/c/50d31e22eab8ea0028000001
NYSE is well on its way to becoming really cool condos.
http://www.businessinsider.com/c/50d31e076bb3f7877500000a
a. jaques
Thu, 20 Dec 2012 09:17:43 -0500
http://www.businessinsider.com/c/50d31e076bb3f7877500000a
Think someone knew? NYX was highlighted on OptionsDigger.com on 12/05: <a href="http://tinyurl.com/cn6m5vw" target="_blank" rel="nofollow" >http://tinyurl.com/cn6m5vw</a>
http://www.businessinsider.com/c/50d31ca369bedd6e2a00000d
black swan
Thu, 20 Dec 2012 09:11:47 -0500
http://www.businessinsider.com/c/50d31ca369bedd6e2a00000d
"In comes the new Boss; same as the old Boss."
The new boss is worse than the old boss:
"What is ICE Trust U.S., and who owns it? ICE US Holding Co., which was established in 2008 as the parent of ICE Trust U.S., is located in the Cayman Islands. Yet none of the owners of ICE US Holding Co. are based in the Caymans. IntercontinentalExchange, Inc., which owns 50 percent of ICE US Holding, is headquartered in Atlanta, Georgia. Among the other owners of the Caymans company are Citigroup, Goldman Sachs, J.P. Morgan, Merrill Lynch and Morgan Stanley, which are headquartered in New York. Bank of America, which now owns Merrill Lynch, is based in Charlotte, North Carolina. Deutsche Bank (Frankfurt) and both UBS and Credit Suisse (Zurich) are also part owners.
Derivatives lie close to the heart of the debate over financial reform, yet no one appears to have examined the ICE exchange, whose ownership means it will be the world’s main credit default swap clearinghouse; nor has anyone explained how its ownership structure might enrich the banks who own ICE US Holding Co. at the expense of U.S. taxpayers."
http://www.businessinsider.com/c/50d314ae69bedd0e14000030
CaptGizmo
Thu, 20 Dec 2012 08:37:50 -0500
http://www.businessinsider.com/c/50d314ae69bedd0e14000030
Hmmm.....The title of this article should be more like: "Out with the old corrupt group , in with another corrupt group" or some lyrical content from a WHO song maybe: "In comes the new Boss; same as the old Boss...won't get fooled again". | M&A | 1 | [
{
"label": "M&A",
"score": 1
}
] |
PillPack Is a Digital Pharmacy Startup That Amazon Acquired
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Amazon just acquired a little-known startup that mails medicine to your door, and it sent pharmacy stocks into a frenzy — here's how PillPack works
Charlotte Hu
2018-06-28T14:18:24Z
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PillPack founders TJ Parker and Elliot Cohen. Their startup was acquired by Amazon.
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PillPack, a digital pharmacy startup founded in 2013, is being acquired by Amazon.PillPack simplifies the process of managing medications for customers who take five or more prescriptions daily by pre-sorting, packaging, labeling and delivering the medications at the start of every month. The service delivers to anywhere in the US except Hawaii and Puerto Rico, and they also work with Medicare plans. TJ Parker had worked in and around pharmacies his whole life.He grew up in a family that owned and operated a pharmacy, then ended up going to pharmacy school himself. Living in the Boston area, he met co-founder, Elliot Cohen, while running hackathons to find solutions for healthcare problems at MIT. It was there that they first stumbled upon the idea for digital pharmacy PillPack, and by the beginning of 2013, the startup had hit the ground running. "When I started PillPack there was almost no startup activity in pharmacy," Parker said in an interview in early June. "Now there's a ton of activity and that's super exciting, it's a $400 billion market domestically, and I think there should be a number of different solutions for different types of customers."On Thursday, Amazon announced its plans to acquire PillPack for an undisclosed amount. Pharmacy stocks in the US market dropped on the deal announcement, most notably CVS (-8.1%), Rite Aid (-3.1%), and Walgreens Boots Alliance (-9.2%).PillPack simplifies the process of managing medications for customers who take five or more prescriptions daily. It sorts and packages the medication then delivers them to the door of the customer. Prior to PillPack, these customers would need to go to the pharmacy three or four times a month.
PillPack
Customers can keep track of their medications further on the PillPack mobile app, where they can also get reminder texts and chat with a pharmacist.
PillPack
PillPack has a physical pharmacy located in Manchester, New Hampshire, and they mail all their medications to anywhere in the US except Hawaii and Puerto Rico. The company also works with Medicare plans.
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McConnell Tears Into Trump in Blistering Speech After Voting to Acquit
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McConnell tears into Trump after voting to acquit, says there's 'no question' Trump was responsible for the Capitol siege
Michelle Mark
2021-02-13T23:33:19Z
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In this screenshot taken from a congress.gov webcast, Minority leader Sen. Mitch McConnell (R-KY) responds after the Senate voted 57-43 to acquit on the fifth day of former President Donald Trump's second impeachment trial at the U.S. Capitol on February 13, 2021 in Washington, DC.
Congress.gov via Getty Images
Senate Minority Leader Mitch McConnell blasted the former president in a speech Saturday.
McConnell voted to acquit former President Donald Trump, but blamed him for the Capitol siege.
"These criminals were carrying his banners, hanging his flags, and screaming their loyalty to him."
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Senate Minority Leader Mitch McConnell rebuked former President Donald Trump in a blistering speech on the Senate floor Saturday afternoon — almost immediately after voting to acquit Trump in his second impeachment trial.McConnell tore into Trump for his "disgraceful dereliction of duty" during last month's Capitol siege, blaming the former president for the deadly event."There is no question — none — that President Trump is practically and morally responsible for provoking the events of the day," McConnell said. "The people that stormed this building believed they were acting on the wishes and instructions of their president."He continued: "And having that belief was a foreseeable consequence of the growing crescendo of false statements, conspiracy theories, and reckless hyperbole."
McConnell was referring to Trump's false and baseless claims that the presidential election had been stolen from him, which culminated in hundreds of his supporters storming the Capitol as lawmakers counted Electoral College votes."A mob was assaulting a Capitol in his name. These criminals were carrying his banners, hanging his flags, and screaming their loyalty to him," McConnell said.Ultimately, seven Republican senators joined 50 Democrats in voting to convict Trump of one charge of inciting an insurrection. But a two-thirds majority was required to convict.McConnell said he voted to acquit Trump because he believed the Constitution did not permit the Senate to remove a former president — only one still in office.
He added that Trump "didn't get away with anything" and still faces criminal and civil actions.
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Yahoo Acquires Startup OnTheAir - Business Insider
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Yahoo Acquires Startup OnTheAir
Nicholas Carlson
Dec.
4, 2012, 12:22 PM
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Yahoo has acquired a startup called OnTheAir.
OnTheAir launched in March of this year.
It's been described in the past as a "Skype Meets Google+ Hangouts."
A Mashable review of the product says this is how it works:
"Say you want to host a channel about blogging, you can schedule live conversations at any time and moderate who speaks. If you connect the tool to Facebook and Twitter, the site automatically shares the time of the chat to Facebook friends and Twitter followers."
Investors include Scott Banister, Will Smith, True Ventures, and Triple Point Ventures.
Yahoo CEO Marissa Mayer has said that one way she intends to restock the company with talented engineers is through small acquisitions. These transactions are often called aqui-hires.
They are a nice way for a failed company to end.
Here's the blog post from OnTheAir, announcing the news:
We are excited to share some big news: OnTheAir has been acquired by Yahoo!.
When we started OnTheAir, we had dreams of building a company that made a difference in the daily lives of millions. Our pursuit was challenging: We put in late nights together. We debated intensely. We worked like crazy to build a product we were proud to put our name on.
Despite the challenges, our experience has been a rewarding one. We got to launch multiple products to a wonderful community. We were coached and mentored by some of the brightest investors and advisors in Technology (see our list below and work with them if you ever get the chance!). Most importantly, we developed deep bonds as a team and learned how to work together as a unit.
While we haven’t yet attained our dream of building a widespread daily use product, we are just as committed to it. And this is why we’re so excited to be joining Yahoo!. When we first met with the team at Yahoo!, it was clear that everybody there is committed to making mobile products the backbone for the world’s daily habits. All in all, it’s a fascinating time to be joining Yahoo!. There’s a tremendous amount of energy in the company. There are big things to be done and great products to be built, and we’re thrilled to be a part of it.
We want to conclude this letter with a word of gratitude. Thank you to all of our customers, team members, mentors, advisors, investors, consultants, friends, and family for being a special part of OnTheAir. Building a company is no easy task, and we realize we wouldn’t be anywhere without your support.
The OnTheAir TeamAbel, Dan, Erik, Josh, and Mike
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Inside Buddy Media, Salesforce.com's $700 Million Acquisition - Business Insider
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We Were In Buddy Media's Cool New Office Right As It Was Selling For $700 Million — Here's What It Looked Like
Daniel Goodman and Nicholas Carlson
Jun.
4, 2012, 10:27 AM
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Daniel Goodman / Business InsiderHow, exactly, does a CEO keep his external cool while working through the months-long process of selling his company for $700 million?
We recently got a couple first-hand demonstrations from Buddy Media CEO Mike Lazerow.
In mid-May, we got a tip from a source: the New York startup scene was about to have its biggest exit in years.
The source refused to say which company, but gave us a couple hints that pointed to a possibility: Buddy Media, the agency that builds and markets Facebook pages for brands.
It had raised $50 million at a $500 million valuation in the fall, and we'd also heard rumors that Oracle had approached one of its competitors down in Atlanta.
The good news for the team in the news room: Buddy Media was hosting a party that night, on May 15, at its New York headquarters. Maybe we'd be able to sniff out a deal.
Before sending a reporter, though, we decided to call up Mike to make sure he was going to be there.
Good thing we called. In fact, Mike was out in California on some business.
Today, we know what Mike was up to. This morning, Salesforce.com officially announced this morning that is has acquired Buddy Media for around $700 million.
But back then, Mike was very convincing in telling us that Buddy Media was not for sale. He told us, on the record, that the goal was to become a "large independent company," and that nothing was in the works. He was even more convincing off the record.
We believed him. Oops.
Annoying for us? Sure.
But you have to give Mike some credit: a report about a big deal before it's done can ruin the whole process, costing investors and employees millions of dollars.
Remember when Google was going to acquire Yelp, but spiked the deal after it decided Yelp insiders had leaked word of it to the press?
Mike did what he had to do to keep the process quiet.
It wasn't the first time! Just weeks before the deal closed, we sent our intrepid photographer, Dan Goodman, to Buddy Media's new offices for a tour.
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We Were In Buddy Media's Cool New Office Right As It Was Selling For $700 Million — Here's What It Looked Like
We Were In Buddy Media's Cool New Office Right As It Was Selling For $700 Million — Here's What It Looked Like
How can a CEO keep cool on the outside while selling his company for $700 million?
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Betterment Acquires Rival Digital Wealth Manager's US Business
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Betterment takes over Wealthsimple's US client book amid market saturation
Michael Tattersall
2021-03-08T14:14:40Z
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Wealthsimple will refocus on its core Canadian business, while Betterment will get a boost from the added market share.
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The rival digital wealth manager won a bidding process to absorb Canada-based Wealthsimple's US clients, at an undisclosed fee, per Insider. Wealthsimple sought a buyer that could offer its US clients a similar digital wealth management value proposition, as it prepares to hand them over by June 2021.
Betterment takes over Wealthsimple's US client book.
Insider Intelligence
Here's what Insider Intelligence thinks the deal means for the two digital wealth managers' businesses:Betterment will immediately grow its market share, which places it in a strong position for a public listing. While the $190 million in assets under management (AUM) that Betterment will absorb with the deal is small relative to its current $28 billion AUM, it still represents valuable market share growth in an increasingly competitive space. Ahead of a widely anticipated IPO, this market share growth—alongside other expansion initiatives to grow its customer base, such as partnering with people operations startup Zenefits—should endear it to investors.Wealthsimple is pivoting away from its US-led growth strategy and reprioritizing its domestic Canadian market. Wealthsimple struggled to gain a foothold in the US digital wealth management market since its 2017 launch, and its AUM was dwarfed by players such as Betterment and Wealthfront. This sluggish US growth was starkly contrasted by continued strong Canadian growth: Wealthsimple Trade, its free online trading platform, clocked record user growth in January and February of this year, and 18% of all new brokerage accounts in Canada opened in H1 2020 were with Wealthsimple. Thus, the digital wealth manager likely felt that it would make more efficient use of recent financing to further expand its array of financial services on offer in Canada.While the deal adds new AUM for Betterment, the US digital wealth management space is becoming increasingly saturated, and players need to differentiate on value-add features to stand out. There are now several large players in the US market, which might inhibit the growth trajectories of fintechs like Betterment. And incumbents like Goldman Sachs and JPMorgan are further crowding the space.Thus, digital wealth managers must focus on adding value to their offering beyond savings and personal finance management tools to differentiate their services. For example, digital wealth managers could add an insurance marketplace to their apps—where users can compare and access different insurance products—to become more of a one-stop shop for financial services. For example, Betterment already has a cell phone insurance offering and could expand this further with a marketplace to make its insurance offering more well rounded.Want to read more stories like this one? Here's how you can gain access:Join other Insider Intelligence clients who receive Fintech forecasts, briefings, charts, and research reports to their inboxes each day. >> Become a ClientExplore related topics more in depth. >> Browse Our CoverageCurrent subscribers can access the entire Insider Intelligence content archive here.
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Facebook Acquires Ozlo AI Startup
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Facebook bought an AI startup that could turn its middling virtual assistant into a Siri killer
Alexei Oreskovic
2017-08-01T01:13:11Z
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Facebook CEO Mark Zuckerberg is betting big on AI.
REUTERS/Shu Zhang
Facebook's virtual assistant, which goes by the name of M, hasn't quite delivered on the promise of a life-changing artificial intelligence product.But Facebook isn't giving up. On Monday, the company announced its acquisition of a small, AI startup that will be folded into Facebook's messaging app. Ozlo, which was founded four years ago and is based in Palo Alto, California, describes itself as "an index of knowledge about the real world."
In practice, that means a technology that lets users ask questions about everything from restaurants to movie schedules, which the AI-based system can quickly answer thanks to "a knowledge graph containing over 2 billion entities." A demo on an archived version of the Ozlo site (before Monday's acquisition was announced) shows a user typing in a query about the cheapest way to stream a particular TV show, followed by Ozlo's response, in natural language, proposing various viewing options. This kind of virtual assistant feature, similar to Apple's Siri and Google's Assistant, is something Facebook has sought to do with its M assistant. Facebook has integrated some automated M capabilities into the Messenger app. But a the full-fledged M virtual assistant is still only available to a very limited set of test users, and Facebook has acknowledged many of its capabilities are handled by a team of human "trainers" rather than true AI.The financial terms of the deal for Ozlo were not disclosed. But Facebook has made no secret of how big of a priority AI is. During the company's quarterly earnings call last week, CEO Mark Zuckerberg touted the importance of artificial intelligence to Facebook's 10-year plan.
"By joining a team that shares our values and our vision, we will be able to continue to work on building experiences powered by artificial intelligence and machine learning. There's a lot more for us to explore ahead and we're excited to bring our technology to the Messenger community," Ozlo said in a message on its website announcing its acquisition by Facebook. Facebook said in an emailed statement the the acquisition would further its goal of building "compelling experiences within Messenger that are powered by artificial intelligence and machine learning."
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19 Stock Picks to Buy Amid a 45% Spike in M&a Spending: Goldman Sachs
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Goldman Sachs details 19 stocks that could fetch large premiums as acquisition targets amid a 45% spike in M&A spending
Will Daniel
2021-07-20T08:30:00Z
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According to Goldman Sachs, mergers and acquisitions have reached new heights in 2021.
Ramin Talaie/Getty Images
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Goldman Sachs says S&P 500 firms will spend $324 billion in cash M&A deals in 2021, a 45% YoY jump.
Analyst David J. Kostin found companies are paying "above-average premiums" for M&A targets.
Kostin revealed 19 stocks with a 30% or greater chance of being acquired in the M&A feeding frenzy.
See more stories on Insider's business page.
According to data from Goldman Sachs, 2021 has been a record year for mergers and acquisitions (M&A) activity.The investment bank says M&A volume has already hit $1.9 trillion this year, marking a multi-decade high not seen since the dot-com era.The rise of special purpose acquisition companies (SPACs) in a market flush with liquidity has no doubt played a big part in the historic M&A spending figures. Goldman Sachs says 336 SPAC IPOs have raised $104 billion so far in 2021, adding to the $77 billion figure that blank-check firms raised in 2020.On top of that, the investment bank estimates there is still $118 billion of cash in 394 SPACs currently searching for an M&A target.Low interest rates, which have allowed for robust debt and equity issuance, have also pushed companies' cash balances to record levels, meaning more M&A could be on the way.In a note to clients on Monday, Goldman analysts led by David J. Kostin predicted S&P 500 companies will spend $324 billion in cash M&A deals this year, a more-than 45% year-over-year increase.If the analysts are correct, that could lead to big returns for savvy investors who hold likely M&A candidates.A 2015 study out of the University of Gothenburg that looked at the stock prices of M&A candidates around the time of their sale found that acquisition targets' stocks experienced statistically significant positive abnormal returns of about 13% on average after they were acquired.Goldman Sachs' Kostin also noted that companies are currently paying "above-average premiums" for M&A targets, with the average $100+ million deal in 2021 being struck at a 44% premium to the pre-bid price.Kostin went on to examine 19 stocks that are set to benefit from this trend, arguing that unless regulatory scrutiny wrecks the party, M&A spending will only continue its rise.All 19 of these stocks are listed below, and all of them are classified as rank 1 M&A candidates by Goldman, meaning analysts expect there is a 30% or greater chance the company will be acquired. Also included are the stocks' tickers, sectors, market capitalizations, and Goldman's expectations for sales growth in 2021.
1. Mirati Therapeutics
Markets Insider
Ticker: MRTXSector: HealthcareMarket Capitalization: $8.38 billionSales Growth 2021: 37%Source: Goldman Sachs
2. Blueprint Medicines
Markets Insider
Ticker: BPMCSector: HealthcareMarket Capitalization: $4.83 billionSales Growth 2021: (81)%Source: Goldman Sachs
3. Arena Pharmaceuticals
Markets Insider
Ticker: ARNASector: HealthcareMarket Capitalization: $3.89 billionSales Growth 2021: NMSource: Goldman Sachs
4. Translate Bio
Markets Insider
Ticker: TBIOSector: HealthcareMarket Capitalization: $2.21 billionSales Growth 2021: (8)%Source: Goldman Sachs
5. Sarepta Therapeutics
Markets Insider
Ticker: SRPTSector: HealthcareMarket Capitalization: $5.34 billionSales Growth 2021: 19%Source: Goldman Sachs
6. Incyte Corporation
Markets Insider
Ticker: INCYSector: HealthcareMarket Capitalization: $17.19 billionSales Growth 2021: 6%Source: Goldman Sachs
7. Splunk
Markets Insider
Ticker: SPLKSector: TechnologyMarket Capitalization: $21.98 billionSales Growth 2021: 12%Source: Goldman Sachs
8. Pioneer Natural Resources Company
Markets Insider
Ticker: PXDSector: EnergyMarket Capitalization: $34.31 billionSales Growth 2021: 122%Source: Goldman Sachs
9. Nutanix
Markets Insider
Ticker: NTNXSector: TechnologyMarket Capitalization: $7.17 billionSales Growth 2021: 9%Source: Goldman Sachs
10. BellRing Brands
Markets Insider
Ticker: BRBRSector: Consumer StaplesMarket Capitalization: $1.25 billionSales Growth 2021: 17%Source: Goldman Sachs
11. Simply Good Foods
Markets Insider
Ticker: SMPLSector: Consumer StaplesMarket Capitalization: $3.51 billionSales Growth 2021: 16%Source: Goldman Sachs
12. Continental Resources
Markets Insider
Ticker: CLRSector: EnergyMarket Capitalization: $12.37 billionSales Growth 2021: 81%Source: Goldman Sachs
13. Arvinas
Markets Insider
Ticker: ARVNSector: HealthcareMarket Capitalization: $3.64 billionSales Growth 2021: 1%Source: Goldman Sachs
14. Relay Therapeutics
Markets Insider
Ticker: RLAYSector: HealthcareMarket Capitalization: $3.01 billionSales Growth 2021: (86)%Source: Goldman Sachs
15. uniQure N.V.
Markets Insider
Ticker: QURESector: HealthcareMarket Capitalization: $1.23 billionSales Growth 2021: 554%Source: Goldman Sachs
16. CRISPR Therapeutics AG
Markets Insider
Ticker: CRSPSector: HealthcareMarket Capitalization: $9.57 billionSales Growth 2021: NMSource: Goldman Sachs
17. Allogene Therapeutics
Markets Insider
Ticker: ALLOSector: HealthcareMarket Capitalization: $3.2 billionSales Growth 2021: NMSource: Goldman Sachs
18. Allakos
Markets Insider
Ticker: ALLKSector: HealthcareMarket Capitalization: $4.33 billionSales Growth 2021: NMSource: Goldman Sachs
19. Karuna Therapeutics
Markets Insider
Ticker: KRTXSector: HealthcareMarket Capitalization: $3.29 billionSales Growth 2021: NMSource: Goldman Sachs
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ZA | M&A | 1 | [
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"score": 0.9999998807907104
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Playboy Owner Buys Raunchy Lingerie Brand Honey Birdette, $333M
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Playboy's owner is buying a raunchy lingerie brand for $333 million, just as industry giant Victoria's Secret ditches its Angels and tones down racy marketing
Mary Hanbury
2021-06-29T13:02:37Z
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Playboy CEO Ben Kohn.
Charley Gallay/Getty Images for Playboy
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Playboy's owner PLBY is buying the Australian brand Honey Birdette, known for selling lingerie and sex toys.
PLBY said it plans to expand the brand in the US to grow its clothing and "sexual wellness" business.
The news comes as lingerie giant Victoria's Secret upends its brand image and steps back from racy ads.
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The owner of Playboy is spending $333 million on the racy Australian lingerie brand Honey Birdette.PLBY Group, the company behind the late Hugh Hefner's Playboy empire, said Tuesday that the acquisition would help it grow its Playboy-branded clothing business and its "sexual wellness" business, which covers Playboy sex toys and lingerie.The Wall Street Journal was first to report the news.PLBY CEO Ben Kohn said in a statement Tuesday that the company would "take advantage of Honey Birdette's superior product design, sourcing and direct-to-consumer capabilities" to grow its business.
Honey Birdette Models pose for a photo at the Honey Birdette grand opening at the Fashion Show Mall on May 20, 2021 in Las Vegas, Nevada.
Denise Truscello/Getty Images for Honey Birdett
Honey Birdette was founded 15 years ago and has about 60 stores, mostly in the US and UK, according to The Journal. It is set to open new flagship stores in Dallas, Miami, and New York over the next few months. The brand, which PLBY said was expected to pull in $73 million in revenue between June 2020 and June 2021, is known for its provocative lingerie and marketing. Read more: Victoria's Secret's new CMO on how the brand's radically different new image will help it win back disillusioned shoppersSome customers in Australia had called for the brand's ad displays in stores to be taken down, saying that they were borderline pornographic, per a Daily Mail report from early June.
The plans for Honey Birdette's expansion come as Victoria's Secret is toning down its racy marketing. The lingerie giant said earlier this month that it was ditching its Angels, and instead partnering with a group of inspirational women including activists and entrepreneurs to promote a new brand image and shape its turnaround.
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Yahoo Acquires Startup OnTheAir - Business Insider
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Yahoo Acquires Startup OnTheAir
Nicholas Carlson
Dec.
4, 2012, 12:22 PM
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Yahoo has acquired a startup called OnTheAir.
OnTheAir launched in March of this year.
It's been described in the past as a "Skype Meets Google+ Hangouts."
A Mashable review of the product says this is how it works:
"Say you want to host a channel about blogging, you can schedule live conversations at any time and moderate who speaks. If you connect the tool to Facebook and Twitter, the site automatically shares the time of the chat to Facebook friends and Twitter followers."
Investors include Scott Banister, Will Smith, True Ventures, and Triple Point Ventures.
Yahoo CEO Marissa Mayer has said that one way she intends to restock the company with talented engineers is through small acquisitions. These transactions are often called aqui-hires.
They are a nice way for a failed company to end.
Here's the blog post from OnTheAir, announcing the news:
We are excited to share some big news: OnTheAir has been acquired by Yahoo!.
When we started OnTheAir, we had dreams of building a company that made a difference in the daily lives of millions. Our pursuit was challenging: We put in late nights together. We debated intensely. We worked like crazy to build a product we were proud to put our name on.
Despite the challenges, our experience has been a rewarding one. We got to launch multiple products to a wonderful community. We were coached and mentored by some of the brightest investors and advisors in Technology (see our list below and work with them if you ever get the chance!). Most importantly, we developed deep bonds as a team and learned how to work together as a unit.
While we haven’t yet attained our dream of building a widespread daily use product, we are just as committed to it. And this is why we’re so excited to be joining Yahoo!. When we first met with the team at Yahoo!, it was clear that everybody there is committed to making mobile products the backbone for the world’s daily habits. All in all, it’s a fascinating time to be joining Yahoo!. There’s a tremendous amount of energy in the company. There are big things to be done and great products to be built, and we’re thrilled to be a part of it.
We want to conclude this letter with a word of gratitude. Thank you to all of our customers, team members, mentors, advisors, investors, consultants, friends, and family for being a special part of OnTheAir. Building a company is no easy task, and we realize we wouldn’t be anywhere without your support.
The OnTheAir TeamAbel, Dan, Erik, Josh, and Mike
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