Tech Weekly Newsletter: August 21, 2016
Last week, today
- 8/5 – Somehow missed this one, but Bob Stutz, who previously led Microsoft Dynamics’ CRM division is taking over as the head of Salesforce’s Marketing Cloud, replacing CEO Scott McCorkle who came on with the acquisition of ExactTarget* (Ad Exchanger)
- 8/12 – Adobe is stopping the practice of software license audits in Americas and Europe as the Company has moved further to the cloud (and presumably needs to audit its on-prem revenue less) (The Register)
- 8/14 – Groupon is quietly winning back investors and the stock is up nearly 90% this year after retrenching globally, shedding offices in 21 countries and cutting 2,000 jobs (20% of its workforce) (WSJ $)
- 8/15 – Instagram launched three tools to help its advertisers 1. Business Profiles (allowing businesses to stand out from consumer profiles) 2. Insights (allowing businesses to see what is working) 3. Promote (giving businesses the ability to promote posts that are working) (Wired)
- 8/15 – Workday announces a seven year deal to use IBM’s cloud computing services, which gives IBM a “win” over Amazon, Microsoft and Alphabet (WSJ)
- 8/15 – Salesforce acquires BeyondCore, which had raised $9M from Menlo Ventures, to bolster its enterprise analytics and business intelligence (TechCrunch)
- 8/15 – Snapchat is acquiring mobile search app Vurb for $110M+ (75% stock and 25% cash) + a $75M year multi-year package for founder and CEO Bobby Lo (TechCrunch)
- 8/15 – Dropbox is in talks with advisors about a possible 2017 IPO according to Bloomberg (Bloomberg)
- 8/15 – Nutanix* is said to start its IPO roadshow as soon as September after re-filing its public paperwork for the first time in December (Bloomberg)
- 8/16 – Kahuna has hired GM/SVP from SAP SuccessFactors, Sameer Patel, as its CEO following the departure of founder Adam Marcus earlier this year (PR Newswire)
- 8/16 – Google launches Duo, its video-calling app that is intended to compete against Apple’s FaceTime (TechCrunch)
- 8/16 – Univision is buying the bankrupt Gawker Media for $135M (Re/Code) and shutting down the Gawker.com site (Business Insider)
- 8/16 – Susa Ventures announces a new $50M fund, its second after raising a $25M one in 2013 (VentureBeat)
- 8/16 – Yik Yak completes its pivot away from anonymity with a “more engaging personal feed” for status messages and a feed of nearby users (The Verge)
- 8/16 – Ford announces intention to have a fleet of fully autonomous cars operating in a ride-hail service by 2021 (Re/Code)
- 8/17 – Cisco is laying off 5,500 employees as it restructures its business and tries to shift towards more software sales from its legacy hardware base. The layoff will represent 7% of its workforce (Re/Code)
- 8/17 – Rothenberg Ventures has lost several members of its leadership team (TechCrunch) and may be on the brink of implosion after an employee reported wire fraud and breach of fiduciary duty (TechCrunch)
- 8/17 – Cyanogen, which has been struggling through some layoffs over the course of the last few months, apparently may have far less users than it previously touted (The Information $)
- 8/18 – The legal battle with Domo and a former manager that is fighting to get information about the Company is escalating beyond the initial complaint (WSJ $)
- 8/18 – Hampton Creek is facing SEC scrutiny for its practices around buying its own product (Business Insider)
- 8/18 – Uber and Volvo have committed $300M to develop autonomous cars together (Re/Code)
- 8/18 – Atlassian’s Hipchat beat Slack to adding video to its chat app (Fortune)
- 8/18 – Google has secretly acquired the team at mobile app development company Apportable (Venture Beat)
- 8/18 – Vista Equity has agreed to acquire Granicus, a provider of software focused on government efficiency and transparency, from K1 Investment Management, who will retain a minority position (PE Hub)
- 8/18 – Rakuten bought struggling bitcoin start-up, Bitnet, which raised $14.5M two years ago from Highland Capital (TechCrunch)
- 8/18 – Uber has reportedly paid $680M to buy Otto, which developed a kit that lets big-rig trucks drive themselves on highways and was founded by four former Googlers who worked on Google Maps (Bloomberg)
- 8/18 – According to Gartner, Android’s smartphone market share hit 86.2% in Q2 2016 (TechCrunch)
- 8/18 – WeWork is going a bit against its original business model, now pursuing opportunities with companies to lock in year-long rental agreements vs. the previous month-to-month (The Information $)
- 8/19 – Vevo, which is 80% owned by UMG and Sony, is looking to raise $500M from outside investors to fund international expansion, potential acquisitions and the development of new mobile and TV services (FT $)
- 8/19 – What was kind of implied over the last few weeks has been confirmed by the NYT – Lyft was said to be seeking a buyer and held talks with GM, Apple, Google, Amazon, Uber and Didi Chuxing. The talks were most serious with GM although the Company never submitted an offer. Lyft still has $1.4B in cash so it is not in near shutting down (NYT)
- 8/19 – Dropbox is replacing its current CFO due to health reasons (VentureBeat)
- 8/19 – Lyft is pausing its carpool service less than five months after rolling it out (TechCrunch)
- 8/19 – Pandora is nearing a deal with the major record labels that will allow it to launch an on-demand music streaming service (WSJ $)
- 8/19 – After rumors of an acquisition by Honewell, JDA Software has received a $570M investment from Blackstone with participation from existing investor New Mountain Capital (Yahoo Finance)
- 8/17 – Cisco fell 1.5% in afterhours following its earnings release and announcing 5,500 layoffs (Seeking Alpha)
- 8/16 – Rubrik, a Palo Alto, Calif.-based provider of converged data management solutions, has raised $61 million in Series C funding. Khosla Ventures led the round.
- 8/15 – Galvanize, a Denver-based tech education service, has raised $45 million in Series B funding led by ABS Capital Partners.
- 8/19 – Ecobee, a Toronto-based smart thermostat maker, has raised $35 million in new VC funding from the Amazon Alexa Fund, Thomvest and Relay Ventures.
- 8/18 – ID Experts, a Portland, Ore.-based provider of software and services for cyber breach and identity fraud protection, has raised $27.5 million in new VC funding. Peloton Equity and Trident Capital Cybersecurity co-led the round.
- 8/17 – Clara, a San Francisco-based home financing platform, has raised $27 million in new VC funding led by Redpoint Ventures and Venrock.
- 8/15 – Outfittery, a Berlin-based curated shopping service, has raised $22 million in new VC funding led by Octopus Ventures.
- 8/16 – FloSports, a subscription-based director-to-consumer sports media company, has raised $21.2 million in new VC funding. DCM and Berlesmann Digital Media Investments co-led the round.
- 8/17 – ColorChip, an Israel-based designer and manufacturer of optical sub-systems and components for the datacom and telecom markets, has raised $20 million in funding from Gemini Israel Funds, BRM Group, IGP, Vintage, HGL Capital, and Viola Credit.
- 8/19 – CellSavers, an on-demand mobile repair platform, has raised $15 million in Series A funding. Carmel Ventures led the round.
- 8/15 – Zenoti, a Mercer Island, Wash.-based provider of a cloud-based management platform for the spa and salon markets, has raised $15 million in Series B funding from Norwest.
- 8/18 – Dreamlines, a Denmark-based cruise portal, has raised $14 million in new VC funding from Altpoint Ventures, Dimaventures, and Hasso Plattner Ventures.
- 8/17 – EventBoard, a Salt Lake City-based provider of cloud-based meeting tools and analytics, has raised $13.5 million in Series B funding. NGP led the round.
- 8/16 – ReviMedia Group BV, a New York-based provider of online lead generation and lead exchange solutions, has raised $12.5 million in equity funding from New Spring Growth Capital.
- 8/16 – Nymbus, a Florida- based provider of cloud-based solutions for core banking, has raised $12 million in new VC funding led by Vensure Enterprises.
- 8/17 – Rotation Medical Inc, a Plymouth, Minn.-based developer of medical devices to treat rotator cuffs, has raised $12 million in new Series B funding (tranched out, with $8m up front).
- 8/19 – Heap, a San Francisco-based analytics infrastructure startup, has raised $11 million in Series A funding. NEA led the round.
- 8/16 – Pixelligent, a Baltimore-based developer of OLED products, has raised $10.4 million in Series C funding. Backers include the Abell Foundation, the Bunting Family Office and David Testa.
- 8/18 – Fictiv, a Calif.-based manufacturing platform for fabricating parts, has raised $10 million in Series B funding led by Accel Partners.
- 8/17 – Goop, Gwyneth Paltrow’s lifestyle website, has raised $10 million in Series B funding from NEA, Felix Capital and 14W Venture Partners.
- 8/17 – Stash, a New York-based investment platform for millennials, has raised $9.25 million in Series A funding. Goodwater Capital led the round.
- 8/16 – Vettery, a New York-based hiring marketplace, has raised $9 million in Series A funding led by Greycroft Partners and Raine Ventures.
- 8/18 – NextHealth, a Denver-based healthcare analytics platform aimed at reducing costs for insurers, has raised $8.5 million in Series A funding from Norwest Venture Partners.
- 8/17 – EasyVista, a New York-based provider of service management for IT organizations, has raised $8.4 million in new convertible debt funding from Isatis Capital, Alto Invest and Conversion Venture Capital.
- 8/15 – Firefly Games, a Los Angeles-based startup that aims to distribute top-grossing Asian mobile games to Western markets, has raised $8 million in new VC funding from Skyocean International Holdings, Ceyuan Ventures, and Guang Zhou Win Hi.
- 8/18 – VUV Analytics, an Austin, Texas-based developer of vacuum ultraviolet absorption spectroscopy, has raised $6.5 million in Series B funding. New Science Ventures led the round.
- 8/15 – HeavenHR, a Berlin-based HR management platform for small and mid-sized enterprises, has raised €6 million in Series A funding co-led by Target Global and Open Ocean.
- 8/17 – Pymetrics, a New York- based job marketplace, has raised $6.1 million in Series A funding from Khosla Ventures and BBG ventures.
- 8/18 – DriveTribe, a London-based digital media platform focused on “motoring and adventure,” has raised $5.5 million in Series A funding. Breyer Capital led the round.
- 8/18 – Happify, a New York-based provider of emotional wellbeing and mental health software, has raised $5 million in VC funding from Marketplace Fund II and Hills Capital.
- 8/17 – Owl Labs, a video conferencing platform maker, has raised $5 million in new VC funding from Antonio Rodriguez and iRobot Ventures.
- 8/18 – ZeroCater, a San Francisco-based corporate catering startup, has raised $4.1 million in new VC funding from Romulus Capital and Struck Capital.
- 8/16 – Degreed, a San Francisco-based platform for career and lifelong learning, has raised $3.5 million in new Series B funding from GSV Acceleration.
- 8/19 – Dexter, a New York-based bot building platform, has raised $2.3 million in seed funding. Rakuten Ventures led the round.
- 8/18 – Netlify, a startup for building, deploying and hosting static sites or apps that is integrated with GitHub, has raised $2.1 million in VC funding from Bloomberg Beta and Tank Hill Ventures.
- 8/18 – Instavest, a social investing platform, has raised $1.7 million in seed funding from backers like Y Combinator and Cherubic Ventures.
- 8/19 – NVBots, a Boston-based developer of automated 3D printing solutions, has raised an undisclosed amount of Series A funding led by Woodman Asset Management.
- 8/19 – DevMynd, a Chicago-based digital innovation consulting firm, has raised an undisclosed amount of Series A funding from Motorola Solutions Venture Capital.
- 8/15 – Onfido, a San Francisco-based identity verification and background checking provider, has raised an undisclosed amount of VC funding from Salesforce Ventures, Talis Capital and individual angels.
Random, long reads
BOOMIN! A day in the life of 16-year-old rare-sneaker dealer Benjamin Kickz (NY Magazine) – The story of a 16 year old kid living in Miami, who has become a rare sneaker reseller to stars in the hip-hop community and friends with the likes of DJ Khaled, Travis Scott, and a number of other artists.
An Oral History of Tin Cup: One of Golf’s Most Iconic Movies Ever Made (Gold.com) – Tin Cup remains one of the all-time sports movies and one of the few to accurately capture some of the authenticity of golf. The key contributors from the movie look back on it for its 20th anniversary.
Walmart’s Out-of-Control Crime Problem Is Driving Police Crazy (Bloomberg) – In an effort to cut cost, Walmart has also cut a number of basic security-related things that other retail stores use. This has led to a crazy amount of crime over the last few years that has police departments furious and Walmart apologizing while trying to find a solution to it. The how and the why of this problem are pretty fascinating.. and now they need to figure out what comes next.
*Battery portfolio company. For a list of all Battery portfolio companies, please click here