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Microsoft Acquires PhoneFactor - Business Insider
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Microsoft Acquires PhoneFactor To Keep Hackers From Destroying Your Life
Julie Bort
Oct.
4, 2012,
3:41 PM
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WiredMicrosoft's latest deal came too late to protect Wired's Mat Honan from hackers.
See Also
This 25-year-old hacker earned $80,000 in 8 months moonlighting as a 'bug bounty hunter'
Microsoft CEO Satya Nadella loves to use a quote from Wayne Dyer to describe the future of technology
Microsoft's missed quarter is a sign that the company isn't out of the woods yet
Microsoft wants to make sure that its customers don't suffer the fate of Wired's Mat Honan.
Today they acquired a tiny 50-person company, PhoneFactor, that turns your cell phone into a password-verification device for an undisclosed sum.
Hackers nearly destroyed Honan's digital life two months ago. On the hunt for a Twitter password, they got into his Amazon account, which helped them gain access to his Apple and Google accounts. They remotely erased all his data, even on his iPhone and Mac.
Honan admitted, "Had I used two-factor authentication for my Google account, it’s possible that none of this would have happened."
Two-factor authentication means that you need more than just a password to log in—you need something extra to verify your identity. A lot of these security schemes rely on your phone.
One example of two-factor authentication at work: After you type in a username and password, your phone is sent a code via text or an automated phone call. You have to enter that code when you sign in. So hackers can't just know your password—they'd have to get your phone, too.
Google has a piece of software called Google Authenticator which generates these codes without needing to bother with a text or phone call.
PhoneFactor is an app that does similar things for enterprise apps. It already supported a bunch of Microsoft software, including email and Active Directory. (Active Directory is how enterprises keep track of employee passwords to Windows apps.)
Interestingly, it wasn't the Windows Phone team that made this acquisition but the Server and Tools business unit. They are going to add PhoneFactor's tech into Microsoft's cloud apps like Windows Azure Active Directory, a Web-based implementation of Active Directory, and Office 365, an online version of Microsoft's productivity-software suite.
PhoneFactor was founded by Tim Sutton in 2001. Sutton is best known for his years as president of Sprint's broadband wireless business. Cofounder Steve Dispensa also hailed from Sprint.
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Microsoft Acquires PhoneFactor To Keep Hackers From Destroying Your Life
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IFC acquires the rights to Lindsay Lohan
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Google Eyes Japan's Payments Space With Latest Acquisition Talks
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Google plans foray into Japanese cashless payments with pring acquisition
Adriana Nunez
2021-07-09T13:20:00Z
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Google is in negotiations to buy cashless payments startup pring.
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Insider Intelligence publishes hundreds of insights, charts, and forecasts on the Payments & Commerce industry. Learn more about becoming a client.
Google is reportedly in negotiations to acquire pring, a Japan-based cashless payments startup, for between JPY20 billion ($187.3 million) and JPY30 billion ($281 million), according to Nikkei Asia.
Proximity mobile payment users will reach 27 million this year.
Insider Intelligence
The acquisition would give Google access to pring's vast partner network, which includes 50 national banks and major companies like 7-Eleven. The tech giant hopes to use pring to launch proprietary financial services in the country.Pring can help Google move deeper into Japan's cashless payments market.Japan has substantial room for cashless growth, which Google can harness to its advantage: In 2020, cash accounted for more than 50% of all transactions in the country, as opposed to neighboring countries like South Korea, where it made up 34%, per McKinsey. But Japanese consumers have warmed to cashless payments because of the pandemic and government initiatives that have encouraged their use, with a goal of expanding cashlessness over the next four years. Operating with a local player could help Google move further into the market at an opportune time and capture market share before it matures.Google can use pring's partner network to expand Google Pay acceptance. The number of proximity mobile payment users in Japan is projected to hit 27 million this year, up from 24.8 million in 2020, per Insider Intelligence forecasts. Google can capitalize on this growth and use pring's existing partners to make its payment product available at more locations throughout the country, helping it compete against local players like PayPay, which has a strong presence in the market.Google has been expanding further into financial services: In the US and other markets, it launched the revamped Google Pay app, which features solutions like cash management tools, banking services, and retail perks—it might be looking to replicate some of these services in Japan. Google may also test out new financial solutions in Japan that it can bring to other markets—something it's done in India—as it moves beyond payments.Want to read more stories like this one? Here's how you can gain access:Join other Insider Intelligence clients who receive Payments & Commerce 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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ZA | M&A | 0.999967 | [
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Gawker Media Buys CityFile In Its First-Ever Acquisition
http://www.businessinsider.com/gawker-acquires-cityfile-2010-2/comments
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Joe Weisenthal
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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 | [
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Mergers and Acquisitions Are Down 21 Percent This Year
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Mergers And Acquisitions Are Down 21 Percent This Year
Ben Duronio
2012-07-02T18:09:00Z
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Hello there, good sirs.
According to Reuters, global mergers and acquisitions are down 21 percent in the first half in the past year, starting in July 2011 and ending in June 2012.
As Fortune states, JPMorgan Chase had the highest American deal making level of 21.9 percent while Goldman Sachs had the highest overall market share of 25.2 percent. Energy and power had the highest percentage of deals at 18.1 percent, followed by materials and financials.Fortune also notes that private equity experienced a similar decline and venture capital invested more in U.S. companies in the second quarter than in the first.DON'T MISS: The 14 Best Stocks In America According To UBS >
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Another Big Exit for NY Startups: SinglePlatform Gets Acquired for $100 Million by Constant Contact
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Another Big Exit For NY Startups: SinglePlatform Gets Acquired For $100 Million By Constant Contact
Alyson Shontell
2012-06-13T11:54:00Z
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SinglePlatform employees are celebrating in the office right now.
Scott Britton via Twitter
SinglePlatform has been acquired for $100 million by small business marketing tools company, Constant Contact.
Constant Contact has over 500,000 paying small business customers and 1,060 employees.SinglePlatform helps local businesses get their menu items and storefronts online. It has more than 10,000 customers paying $495 per year.The deal is $65 million in cash; another $10-30 million is tied to revenue goals over the next two years.SinglePlatform will be keeping its name and service and it will continue to operate out of its NYC office in Battery Park. Its founder and CEO, Wiley Cerilli, is now a Vice President at Constant Contact and will report to Constant Contact's CEO, Gail Goodman.
Every SinglePlatform employee, more than 60 people, is receiving cash and stock as part of the acquisition. About $5 million in cash and stock is being used for employee retention. All of SinglePlatform's employees will join Constant Contact's team."We had been approached by a number of companies who wanted to acquire us," Cerilli tells us. "But we poured our heart and soul into building out the team and we really wanted to find a partner who would help us do the right thing for everyone here." Cerilli and Joel Hughes, Constant Contact's Senior VP of Strategic Corporate Development, tell us the acquisition talks have been underway for two months. The companies were connected by SinglePlatform's rockstar business development executive, Kenny Herman.Herman ended his honeymoon early so he could be back for the acquisition announcement this morning.
"We had some knowledge of each other prior, but about two months ago we got serious about exploring a deeper relationship," Hughes explains. "The relationship has grown quite rapidly. We're thrilled and we think SinglePlatform can really help our small business clients, who are always looking for opportunities to reach beyond their current customer bases."SinglePlatform was founded by Cerilli in 2010 and it has only raised about $5 million in venture capital. The exit is a huge win for Cerilli and his investors, First Round Capital, RRE Ventures, New World Ventures, Gunderson Dettmer, DFJ Gotham and Seamless founder Jason Finger.SinglePlatform was very close to finishing a Series B round of financing for about $15 million when the acquisition opportunity struck. No new money was raised though, says Cerilli."I think it's a natural point for a business that, when you're raising, acquirers come along. We've been hockey stick growth for a while but we're rendering into a new phase, and this acquisition is the best move overall for the people at SinglePlatform," he says. "We can make a bigger impact on small businesses with Constant Contact."
Prior to founding SinglePlatform, Cerilli was an early employee at online food ordering company, SeamlessWeb.We asked Cerilli what it feels like to sell your company for $100 million. He replied, "It's such a surreal experience to have started the business and have this team form the way it has. I just feel super fortunate. It's a dream come true. This partnership is going to help millions of small businesses. It's crazy, I'm trying to breathe in these moments."The office is currently celebrating with a lot of hugs and a lot of tears -- all of them happy, says Cerilli.Cerilli sent out a message to employees and close friends this morning. In it he said:
"In my last company wide email I referenced part of Sheryl Sandberg's speech that she recently gave at the HBS graduation. During the speech, she described her hesitations in accepting a job offer with Google, which vanished when Eric Schmidt, the company's former CEO, told her, 'Don't be an idiot. Get on a rocket ship. When companies are growing quickly and they are having a lot of impact, careers take care of themselves. If you are offered a seat on a rocket ship, don't ask what seat, just get on.' Well, SinglePlatform has been offered a front row seat on a larger and faster rocket ship, and we have decided to jump on board."Here are some pictures of SinglePlatform's office today, in celebration mode:
SinglePlatform executives (CEO and founder Wiley Cerilli is on the far right).
Kenny Herman/SinglePlatform
Cerilli addressing the team about the acquisition.
Kenny Herman/SinglePlatform
Kenny Herman/SinglePlatform
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Google Can't Hire Anyone, So It's Going Crazy Acquiring Companies
Jay Yarow
Sep. 10, 2010, 12:10 PM
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In the last twelve months, Google has acquired (or planned to acquire) twenty-six different companies.
Why is Google going on such a crazy shopping spree? On a basic level, it can afford it, since it has billions in cash. And Google thinks its smart to invest in companies and people to turbo charge the company now for the future.
But, below those superficial reasons there seems to lurk a more vexing problem for Google. It's no longer a sexy growth business, and we've heard that's making it harder for Google to attract the best and the brightest in the industry.
Facebook wrested that mantle away Google. Facebook is growing like a weed, introducing new products, and most importantly pre-IPO, which means big paydays eventually for employees joining today.
Google offered $500,000 to an employee who was leaving for Facebook. He turned it down and joined Facebook anyway. (We've also heard Quora is hiring lots of talent lately. More on that later.)
Which, brings us to Google's acquisitions. It bought some big companies, but mostly it's smaller companies filled with industrious, intelligent, entrepreneurs.
Google used to be able to just hire those people. Today, if it wants them in the Google Plex it has to buy the company they're working on.
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Google Can't Hire Anyone, So It's Going Crazy Acquiring Companies
Google Can't Hire Anyone, So It's Going Crazy Acquiring Companies
Google has purchased 26 companies in the past 12 months.
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AOL Acquired Bebo And WHUMP! Its Profits Collapsed
Nicholas Carlson
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You knew it. We knew it. Everyone but Ron and Randy knew it was never a good idea for AOL to spend $850 million on Bebo.
(Now AOL knows it. They plan to sell or shut down the site in 2010.)
Case in point: In the year after AOL bought the social network, its UK sales office swung from $4 million annual profit to a $1.7 million loss.
PaidContent has more.
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In the year after AOL bought the social network, its UK sales office swung from $4 million annual profit to a $1.7 million loss.
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"Google's Acquisiton Spree Continued This Week," Says AdWeek. the Internet Giant Has Snapped up Two More Startups: a...
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"Google's acquisiton spree continued this week," says AdWeek. The internet giant has snapped up two more startups: Apture and Katango. Apture's service allows webpages to incorporate more multimedia elements into reading material, while Katango is a social networking site.
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Marissa Mayer's Acquisition Strategy Will Ruin Yahoo Employee Morale, Says VC
Nicholas Carlson
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APYahoo CEO Marissa MayerYahoo CEO Marissa Mayer believes her company needs more talented and enterpreneurial engineers and product managers.
(She's right!)
So, for the last six months or so, Mayer has been acquiring small, failed mobile startups for small amounts of money, turning off their products, and integrating their teams into Yahoo's larger workforce.
These deals are called "acqui-hires."
Usually, they cost about $1 million per engineer.
Mayer has done about ten of them since she joined Yahoo last summer. Just last Friday, Yahoo bought a tiny little company called Loki Studios.
Yahoo isn't the first company to do a lot of them.
Google buys dozens of startups for this reason every year. Facebook also hires people this way.
Venture capitalist Mark Suster – who is famous in his industry for selling two companies, and the joining GRP Partners – says that Mayer's acqui-hire strategy is actually really terrible, because it will drain morale from existing employees.
He writes:
Why Acquihires Hurt the Acquiring Company
How about if we look at it from the “rest of company” perspective.
You have been at Google, Salesforce.com, Yahoo! for years. You have worked faithfully. Evenings. Weekends. Year in, year out. You have shipped to hard deadlines. You’ve done the death-march projects. In the trenches. You got the t-shirt. And maybe got called out for valor at a big company gathering. They gave you an extra 2 days of vacation for your hard work.
And that prick sitting in the desk next to you who joined only last week now has $1 million because he built some fancy newsreader that got a lot of press but is going to be shut down anyways.
What kind of message does that send to the party faithful who slave away loyally to hit targets for BigCo?
I’ll tell you what is says.
It says if you want to make “real” money - quit.
Go do a startup. Get some famous angel or seed money. Get yourself in a big demo day competition. Woo the press. Hire legions of young, impressionable graduates from the top engineering universities. And then come back and sell me your company.
I know many rank-and-file employees. I’ve had the chats with them. You rarely meet people who don’t resent the scores of entitled acquihirees of their company.
Does Yahoo! et al really have to keep up with the Jones’s to build its future?
For the 200 new employees they’ll get through acquihires do they unleash 2,000 unhappy existing employees? Sure, most won’t quit. Because they know that it’s not a slam dunk to start a business and get acquired. But the most talented of those 2,000 will.
What if the $100 million you’re going to spend trying to win this alleged “war for talent” in stead went into big retention plans to keep your most talented employees.
You can’t “Roll Out the Red Carpet When Your Best Employees are on the Way Out the Door” as I wrote in this post. So why not announce big, hairy audacious goals on recruiting the best mobile talent with sign-on bonuses and retention plans? And reward your existing top 10% of employees handsomely.
I’ll bet the ROI would be higher than acquihires.
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Marissa Mayer's Acquisition Strategy Will Ruin Yahoo Employee Morale, Says VC
"It says if you want to make 'real' money - quit."
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Google Tries Freebasing
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Google acquired Metaweb Technologies, the San Francisco startup behind collaborative database Freebase, the company announced today.
Freebase is freely editable by anyone, like Wikipedia, but is structured as a database. Google says it will maintain Freebase as a free and open product, but it sounds as if the acquisition is mainly about stregthening the team behind Google's own semantic search efforts.
There's also a heartwarming story within this news: Goldman Sachs is an investor in Metaweb, which raised $57 million in two venture rounds before the acquisition.
Click here to see all the other companies Google has bought recently →
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GE Just Acquired A 100-Year-Old Oil Company That Supports An Entire Region In Texas
Rob Wile
Apr.
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YoutubeThis morning, GE announced it had acquired oil pump maker Lufkin Industries for $3.3 billion.
It's a good sign for America's shale boom — as GE said in its release, the pumps "represent a booming $13 billion patch of the oil and gas industry, fueled by shale and other unconventional sources of energy, and also by the need to make mature oil fields productive again."
But it means a heck of a lot more to the residents of Lufkin, Texas, population 35,000, and the greater East Texas region.
Lufkin Industries began as Lufkin Foundry and Machine Company in 1902. It made railroad and sawmill equipment.
Twenty-four years later, a man named W.C. Trout, who'd joined the company as a shareholder and company secretary, invented what is essentially the predecessor of the technology GE is acquiring, a counter-balanced pumping rig.
There are now at least two streets named after Trout and his descendants.
Kurth Drive, one of the main drags in the city, is likewise named after Lufkin founder Joseph Hubert Kurth.
We spoke with Lufkin, Texas Mayor Bob Brown about what the acquisition means for the community.
He said the company directly employs 1,100 people in the area.
Undoubtedly, it indirectly supports hundreds more.
"It is by far the bell cow in this county," he said.
Brown said he had no reason to believe GE will move jobs, though he said some residents were already saying they were worried.
Some local business owners we contacted hadn't yet heard of the acquisition. Rhonda Oaks, a reporter at the Lufkin Daily News, told us the mood from those she'd spoken with ranged from concerned to cautiously optimistic.
The region's ABC affiliate reports that GE is saying no jobs will be lost and both employees and customers will benefit from the merger.
"We have no layoffs in the future," GE oil and gas spokesman Sean Gannon said. "It's a growing sector and Lufkin Industries is good at what they do."
Lufkin shares closed up 37.59 percent today.
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iPhone Game Maker Ngmoco Acquires Another iPhone Game Developer, Stumptown Game Machine
http://www.businessinsider.com/iphone-game-maker-ngmoco-acquires-another-developer-2010-5/comments
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Touch Pet Dogs was good, looking forward to checking out what's next from these guys. I work at a <a href="http://www.gameshastra.com/Video-Game-Development.html">game development</a> firm myself, so I keep a pretty close eye. | M&A | 1 | [
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Dropbox to Acquire HelloSign, Goes Against DocuSign and Adobe
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At $230 million, Dropbox made its largest acquisition ever — and Wall Street thinks it's a shot at its $8 billion frenemy DocuSign
Rosalie Chan
2019-01-29T01:07:13Z
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When the nearly $10 billion cloud-storage company Dropbox announced Monday that it planned to acquire the e-signature startup HelloSign for $230 million, analysts were not surprised.Some analysts see this deal, which is expected to close in the first quarter of the year, as a pushback at the leading e-signature company DocuSign — a partner to Dropbox that may have turned into something of a frenemy.Last fall, the $8 billion DocuSign acquired a cloud-based document-management platform called SpringCM, a move that could bring it into direct competition with Dropbox.Analysts agree that this is a strong move for Dropbox, hinting that the company could be making a bolder move for larger businesses.Dropbox on Monday announced plans to acquire the e-signature startup HelloSign for $230 million, the largest acquisition to date for the nearly $10 billion cloud-storage company.This deal is expected to close in the first quarter of the year. HelloSign was founded in 2011 and had raised $16 million in funding."With over an exabyte of data on our platform, millions of people already use Dropbox as a place to collaborate on their most important content," Dropbox's cofounder and CEO, Drew Houston, said in a statement. "We're thrilled to welcome HelloSign's talented team to Dropbox and add their capabilities to our product suite."For some Wall Street analysts who watch Dropbox closely, this move was unsurprising — to them, it was an obvious move to counter DocuSign, the $8 billion leader in the e-signature space, even as Dropbox looks to deepen its product offerings for larger business customers.In fact, Dropbox had recently sent out a survey asking users whether they would be interested in using a Dropbox e-signature feature, Piper Jaffray's Alex Zukin said in a note to clients. That survey even asked about other e-signature vendors, including HelloSign, and what processes the hypothetical new feature could replace, he wrote.The two companies have been partners, with Dropbox users able to use DocuSign to e-sign the documents that they store in the cloud. But DocuSign recently made an acquisition, in the form of SpringCM, signaling that the two companies may soon find themselves competing in the cloud-storage market for businesses.Christopher Eberle, a senior equity analyst at Nomura, expects Dropbox and DocuSign to go their separate ways."Dropbox thought, DocuSign is competing against us," Eberle told Business Insider. "Are they a partner or competitor? They're making a decision that DocuSign is becoming more of a competitor by working in document management and content management. Dropbox decided we're adding our own signature so we don't need them."Dropbox, however, says that it's still a friend, not a foe, to both companies."DocuSign and Adobe are important partners of ours and have built businesses that serve some of the biggest companies in the world," a Dropbox representative told Business Insider. "That won't change."A punch back at DocuSignRight now, the fast-growing DocuSign is considered the industry leader in the e-signature business, followed by Adobe Sign. With SpringCM in its toolbox, DocuSign could be looking to eat Dropbox's lunch.But with about 12 million paying customers, Dropbox has the advantage of scale compared with the relatively more niche SpringCM, which focused exclusively on helping customers manage business documents like contracts. Similarly, Adobe Sign benefits from its association with the Adobe empire, which encompasses many products.To that end, it could be DocuSign's game to lose."The real question is, can DocuSign compete against Dropbox and Adobe?" Eberle said. "Dropbox was using DocuSign to sign the bottom of its documents. Now they integrate HelloSign, and they don't need DocuSign. That makes it a difficult competitive landscape for DocuSign."Still, Dropbox has to prove that it knows what it's doing with HelloSign and its technology, warned Richard Davis, an analyst with Canaccord Genuity, in a note to clients."What we don't know at this point is the breadth and roadmap for the firm's workflow and contract management tools, which, to that extent, could give the firm competitive differentiation," Davis wrote.And ultimately, analysts don't seem terribly concerned about DocuSign's prospects."We believe DocuSign warrants a premium valuation due to its strong competitive position, attractive financial profile, and impressive leadership team," Patrick Walravens, the director of technology research and senior analyst at JMP Securities, wrote in a note to clients.Moving toward enterpriseAll in all, analysts say this acquisition makes sense for the company and seem optimistic about it. HelloSign has more than 80,000 customers, including Samsung, Lyft, and Twitter. Walravens estimates in his note that HelloSign has an annual recurring revenue of $20 million to $30 million and that it's growing at about 50% each year.Ultimately, this is a sign that Dropbox is taking a page from Adobe's book and trying to move upmarket with features that cater to larger enterprise customers — important as it moves beyond just serving the consumer users who helped it make its name. In that vein, you can take it as a sign of things to come."If you look at the way they're positioning themselves, it provides more traction in the enterprise business space," Holly Muscolino, the research vice president at IDC, told Business Insider. "Even though it's frequently a consumer doing the signing," she said, there are few cases in which consumers would be distributing sign documents. "It's definitely an enterprise capability," she said.Read more: $9.95 billion Dropbox beats Wall Street expectations, but analysts still aren't sure it can crack the enterprise spaceIn general, the move seems to have been well received, with the company's stock closing up 1%, at $24.14 a share, at the closing bell on Monday."We are positive on the acquisition and believe that this is a natural adjacency for Dropbox given its ability to capture a greater portion of its customers' workflows with both document workflow as well as e-signature, and believe that it is a natural cross-sell," Piper Jaffray's note said.Here's the full Dropbox statement on competing with DocuSign and Adobe:"Dropbox is built on an open and vibrant ecosystem. We believe in, and are committed to giving our customers a best-in-class user experience no matter the tool they choose. Our partnerships play a key role in ensuring that. Both DocuSign and Adobe are important partners of ours and have built businesses that serve some of the biggest companies in the world. That won't change. Millions of businesses around the world still use legacy pen and paper to get their most important work done. There's a huge opportunity for us to work together and expand the market for document workflow software, getting it into the hands of more people and improving their productivity and efficiency."
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Sprinklr Acquires TBG Digital, One Of Facebook's Biggest Ad Clients, Ahead Of Its IPO
Jim Edwards
Aug. 14, 2014,
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RagyThomas / LinkedInSprinklr CEO Ragy ThomasSprinklr, the New York-based social media management firm that helps companies deal with multiple accounts on Facebook and Twitter at a global level, has acquired TBG Digital, one of Facebook's larger ad-buying clients. TBG — based in London and New York — had functioned as Sprinklr's ad media-buying arm for some time.
The deal signals that the marketing ecosystem that has grown up around Facebook, Twitter, LinkedIn and other large social media platforms is maturing into a phase where global scale at the so-called "enterprise" level is seen as an advantage. For example, Sprinklr previously acquired Dachis Group; Brand Networks (probably Facebook's fifth biggest advertising client) acquired Optimal; and Marin Software (probably Facebook's second-biggest advertiser) has more than 500 employees, also.
Terms of the deal were not disclosed. However, the new company now employs nearly 500 people globally serving 650 companies on more than 20 social media platforms. About 100 people came from TBG; 400 came from Sprinklr. The combined company processes more than $100 million in annual media spend, the companies said in a statement. Its clients will include Vodafone, Dell, Heineken and Zynga (from TBG) and Microsoft, Intel, Virgin America, and IHG (from Sprinklr).
TBG Digital, with permissionTBG CEO Simon MansellThe deal is interesting because Sprinklr is planning an IPO, and TBG — with its Facebook ad buying business — bolts on a revenue stream that Sprinklr previously lacked. Neither company has disclosed revenues or other financial details. However, Business Insider's best guess — based on both companies' history — is that TBG was likely profitable while Sprinklr was still in its unprofitable startup investment growth phase. Sprinklr had taken a total of $68 million in venture capital funding.
Sprinklr's future as an enterprise social media management company — via an IPO — is the worst-kept secret in the world of adtech. Sprinklr CEO Ragy Thomas is known to want to build "a $10 billion company." TBG, by contrast, has been a rather curious beast. Started by CEO Simon Mansell in the bedroom of his mother's house in the U.K. back in 2001, TBG has grown largely on the power of its own revenues and now has offices in London, New York, San Francisco and Hamburg. We hear it has been fending off acquirers for years.
Here is the official press release:
Sprinklr Acquires Leading Paid Social Company, TBG Digital; Helps Brands and Agencies Maximize Social Reach
Serving $5bn Market Opportunity, Acquisition Creates World’s First Enterprise Converged Media Solution
New York, NY, August 14, 2014 Sprinklr, the leading independent end-to-end social relationship infrastructure, today announced the acquisition of a top global paid social solution, TBG Digital.
The combination of TBG Digital and Sprinklr provides large brands with the world’s first converged social media solution. As the only enterprise provider with the full set of capabilities across paid, owned and earned social media, Sprinklr enables enterprises to:
● maximize reach across paid, owned and earned social content● integrate planning of content and campaigns across paid, owned and earned channels● conduct automated optimization and amplification of organic content with paid budgets● rapidly determine and close the loop on the ROI of digital advertising
Converged media is a critical need for large brands according to the Altimeter Group1. The number of major social media sites has exploded in the last 3 years to over 200, while simultaneously, the number of Facebook Pages “liked” by a typical user grew by 50%. The future demand for extending social reach shows no signs of slowing with social media initiatives poised to consume nearly 18% of total marketing budgets in 5 years with an additional $5 billion forecasted in paid social media alone.
“Understanding how media spend works across all channels and touchpoints is important to us,” said Gary Evans, Director, Online Sales and Marketing, Sky, the UK and Ireland’s leading home entertainment and communications company. “More and more of our customers and potential customers are connecting with us via social and it’s pretty clear that the only way to manage all of this effectively is through great, integrated technology.”
Recognized by Forrester Research as “the most powerful technology on the market,” Sprinklr released the industry’s first integrated paid social media module in April. With TBG Digital, Sprinklr adds 10 years of experience serving large clients such as Vodafone and Dell and a strong pedigree of innovation to round out the converged media solution. TBG Digital was an early adopter of ad campaigns on Facebook and was also one of the first 3 firms to join Twitter’s Marketing Platform Partner Program.
Until the announcement by Sprinklr of a converged social media solution, enterprises have been “forced into integrating disparate systems, which handicaps their ability to use ... tools to provide a consistent customer experience,” according to Altimeter. With a Sprinklr converged media solution that is purpose-built for large enterprises, brands and their agency partners can focus on managing and optimizing social reach across all touchpoints instead of playing the role of systems integrator or spreadsheet wizard.
“We’ve worked with some of the most innovative companies in the world when it comes to social,” said Simon Mansell, CEO of TBG Digital. “While many companies approached us about converged media, only Sprinklr had the proven ability to convert our domain knowledge into actionable software that can be deployed to thousands of brands globally.”
“Simple converged media management is the dream that brands have been asking for,” said Ragy Thomas, CEO and Founder of Sprinklr. “This is another milestone along the path we’ve intentionally taken since the beginning, to bring large companies closer to their customers in a nimble, scalable, and passionate way. Our goal is to continue to be the most complete social infrastructure for large brands.”
Subject to customary closing conditions, Sprinklr now:
● serves more than 650 enterprise brands ● processes more than $100 million in annual media spend ● employs nearly 500 people across the US, UK, France, Germany and Asia ● supports over 20 social platforms and customer data sources ● maintains formal relationships with all of the major social platforms including Facebook, Twitter, LinkedIn and Google.
Initial customers of Sprinklr’s new converged media solution have seen a 25% improvement in performance. Existing clients may contact their success manager for more information. Prospective clients are invited to attend a webinar on August 21st and may register here, visit www.sprinklr.com, or contact info@sprinklr.com.
SEE ALSO: RANKED: The Hottest Pre-IPO Adtech Startups Of 2014
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Sprinklr Acquires TBG Digital, One Of Facebook's Biggest Ad Clients, Ahead Of Its IPO
Sprinklr Acquires TBG Digital, One Of Facebook's Biggest Ad Clients, Ahead Of Its IPO
The marketing ecosystem that has grown up around Facebook is maturing into a phase where global scale is an advantage.
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10 Hollywood production companies that are M&A targets as consolidation shifts the entertainment landscape and private equity bets big on content
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Abry Partners' $100 million stake in Kevin Hart's company HartBeat is the latest big M&A move in Hollywood.
Dealmakers said production companies are valuable amid the streaming wars and demand for content.
Insider identified 10 companies that are attractive acquisition targets as consolidation continues.
The streaming wars have spurred a period of frenzied dealmaking in Hollywood. Amazon kicked off a major round of M&A last May with its $8.45 billion offer for 97-year-old studio MGM. In the year since, several entertainment companies have sold pieces of their business, including Reese Witherspoon's Hello Sunshine and Will Smith and Jada Pinkett Smith's Westbrook Inc. to Blackstone-backed Candle Media.Joe and Anthony Russo's AGBO sold a stake in January to South Korean video game publisher Nexon. In March, Sony Pictures Television announced it would take a majority stake in Industrial Media — known for reality TV hits like TLC's "90 Day Fiancé" — in a deal valuing the company at $350 million. And STX Entertainment was acquired by the Najafi Companies in April for around $157 million, according to the Hollywood Reporter.In the latest deal, Kevin Hart's new media venture, HartBeat, announced that private equity firm Abry Partners was taking a $100 million minority stake in the business, which combines his HartBeat production shingle and digital comedy platform Laugh Out Loud. Thai Randolph stepped up as CEO of the company after leading the fundraise.The M&A activity had top Hollywood dealmakers telling Insider in early 2022 that practically every independent production company is a target.Private equity firms are leading the pursuit, especially when it comes to talent-fronted shingles, because they see value in investing in content before the streaming service boom plateaus — and demand for original programming along with it. Apollo in January took a $760 million stake in "Dune" producer Legendary, in a move that "is about us making our own IP," Apollo partner Aaron Sobel told Insider. "You're going to be seeing us do M&A and there's much more that's going to happen," he said."More traditional media companies are trying to pivot," said Waymaker Law founder Ryan Baker, adding that periods of disruption foment more M&A activity because it's "quite common for entrenched incumbent players tied to existing technology to not be as nimble" and they can often adapt more quickly by buying than building.Not only does the appetite for production capabilities appear insatiable, but valuations also are sky-high. Hello Sunshine, whose projects include Apple TV+ drama "The Morning Show," was valued at $900 million in its Candle Media deal. SpringHill Co., founded by LeBron James and Maverick Carter, nabbed a $725 million valuation when it took on an investment from a group including RedBird Capital, Nike, and Epic Games. 'The key is buying franchises.'Such targets aren't being evaluated as traditional production companies, but rather as IP generators that have the potential to feed the demand for the next "Squid Game" or "Yellowstone," projects built with DNA that could anchor universes and also extend beyond the screen. "Original content is becoming more important and you want to bring a lot of the production capabilities in house," said Pivotal entertainment analyst Jeffrey Wlodarczak. "The key is buying franchises." All that deal flow is leading some Hollywood companies to hang "for-sale" signs. Village Roadshow, the producer of "Joker" and "The Lego Movie," has hired PJT Partners to seek investment or acquisition offers, per the Wall Street Journal.The limited set of larger production businesses that make attractive acquisition targets, sources said, includes A24, Skydance Media, and MRC. But among smaller shops, having a talent affiliation is key. A production company without a big-name is more like an arms dealer, a top dealmaker said, and typically lacks the potential to expand into multiple verticals — or to command a top-tier valuation. Celebrity-fronted businesses come with their own risks. If the talent isn't interested in expanding beyond filmed entertainment, the value of the deal declines. And if a star's reputation falters, the business could slip with it. Not all independent shops control the IP they create. Many production companies make work-for-hire or don't control the rights to a project once it is sold off to a studio distributor. Still, some buyers are game to pay for access to the next big idea from, say, creators like the Russo brothers, even though their reputation was built largely on "The Avengers" — aka Marvel IP — said another dealmaker who asked to remain anonymous.Based on January interviews with five entertainment industry experts and insiders, Insider identified a list of 10 production companies that could be compelling acquisition targets as M&A activity continues.10 Hollywood M&A targets with production capabilities and brand recognitionA24 The company led by CEO David Fenkel and chairman Daniel Katz has long been the subject of acquisition speculation thanks to its lineup of buzzy titles, including Greta Gerwig's "Lady Bird" and best picture Oscar winner "Moonlight." A24 — which also produces TV shows like "Ramy" — has a production deal with Apple and a film licensing agreement with Showtime. Array 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 2021 dramedy "Donkeyhead." Bad Robot J.J. Abrams and wife Katie McGrath's 23-year-old shop is behind everything from HBO drama "Westworld" to the next installment of the "Mission: Impossible" franchise. Though Bad Robot doesn't own the rights to those titles, Abrams is such an in-demand creative talent that WarnerMedia in 2019 paid a reported $250 million for a five-year film and TV overall deal with him. Blumhouse Jason Blum's shingle has perfected its model of producing horror films on a tight budget, projects that reap big gains when they hit with audiences. Consider 2021's "Halloween Kills," which made more than $131 million at the box office, amid COVID fears and restrictions, on a $20 million budget. A 10-year first-look deal with Universal Pictures that runs through 2024 bodes stability for Blumhouse's film business.Chernin Entertainment Peter Chernin's company — which produced NBC's "New Girl" and the rebooted "Planet of the Apes" film series — is said to be exploring strategic options. It has a first-look deal with Netflix, and in 2020 it struck a deal with Spotify to develop its podcasts for film and TV. Imagine Entertainment Previously a target for Kevin Mayer and Tom Staggs' Candle Media, the production company co-founded by Ron Howard and Brian Grazer was in talks early this year to sell a stake to London-based Centricus, WSJ reported. Its recent films include "Hillbilly Elegy" and "Tick, Tick…Boom!" for Netflix. Scout Productions The 28-year-old company led by Michael Williams, David Collins and chief creative officer Rob Eric has driven some of the highest-profile LGBTQ+ projects in Hollywood, including "Queer Eye for the Straight Guy" and its "Queer Eye" reboot on Netflix.Seven Bucks Productions Led by Dwayne "The Rock" Johnson and Dany Garcia, Seven Bucks produced "Red Notice" for Netflix and has the upcoming "Black Adam" for Warner Bros. It also makes content for Johnson's YouTube channel, where he has 5.89 million subscribers. Skydance Media David Ellison's production shingle is behind the upcoming "Top Gun: Maverick" and is teaming with regular producing partner Bad Robot on "Mission: Impossible 7" and "Star Trek 4." The company — which has taken investments from RedBird Capital, Korea's CJ ENM, and Tencent — will produce a slate of live-action films for Apple, where it already has an animated film and TV series deal. Village Roadshow The film producer and financier majority owned by private equity firm Vine Alternative Investments is best known for Warner Bros. co-productions including "The Matrix Resurrections" and "Joker." The company, which is led by CEO Steve Mosko, recently has been focused on producing its own original films. This article was originally published on January 27 and has been updated, most recently on May 19.
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Another New York Startup Has Been Acquired
http://www.businessinsider.com/another-new-york-startup-has-been-acquired-2012-12/comments
en-us
Wed, 31 Dec 1969 19:00:00 -0500
Tue, 03 May 2016 18:32:00 -0400
Alyson Shontell
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clambo
Fri, 21 Dec 2012 22:38:33 -0500
http://www.businessinsider.com/c/50d52b39ecad049360000022
I don't care but that guy with the glasses should pull up his pants. Enough metrosexual stuff already.
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but they only paid 25m
Fri, 21 Dec 2012 11:11:27 -0500
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so who cares?
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as an Art Director, i am not sure am liking... i love Behance and so much and i'd hate to see adobe screw it up like they did with Golive. | M&A | 0.998873 | [
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"label": "M&A",
"score": 0.9988728165626526
}
] |
American Express Acquiring Steve Case's Revolution Money For $300 Million - Business Insider
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American Express Acquiring Steve Case's Revolution Money For $300 Million
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Another big deal in the next-generation consumer financial products space.
American Express (AXP) has just announced the acquisition of Steve Case's startup Revolution Money for $300 million.
Revolution Money, which is frequently described as a PayPal killer, allows merchants to process payments at a rate much lower than traditional card companies.
This has shades of Intuit buying Mint.com -- the old guard financial products company buying the new wave.
Full announcement:
----
American Express Company (NYSE: AXP) today announced it has agreed to acquire Revolution Money, a Revolution LLC company.
Revolution Money, launched by AOL Co-founder Steve Case's Revolution LLC in 2007, provides secure payments through an internet based platform. No names or account numbers appear on Revolution cards and transactions are authorized by using a PIN number. The company's online person-to-person payment accounts are FDIC insured and ideally suited for social and instant messaging networks. It also offers a prepaid card linked to those accounts that can be used for offline payments or to withdraw cash from ATMs throughout the United States.
"New payments products and platforms are evolving rapidly and it's important for us to keep identifying Cutting Edge technologies that can extend our leadership beyond the traditional payments arena," said Kenneth I. Chenault, chairman and chief executive officer of American Express. "While Revolution Money is a young and relatively small company, we believe it has big potential. This is a smart, nimble business. It's run by an accomplished management team who have quickly developed some cutting edge e-payment offerings. Joining with American Express will help unlock their potential, while allowing us to deliver competitive online payment products more rapidly and efficiently."
"Revolution Money has a lot of room to grow as it competes head-to-head with other online and person-to-person payment providers. We are committed to using our global brand recognition, marketing reach and network expertise to help reach a critical mass of customers," said Mr. Chenault.
The transaction, which is subject to regulatory review, is expected to close in the first quarter of 2010. The purchase price is expected to be approximately $300 million. Upon closing, Revolution Money would operate as a subsidiary of American Express and be the first component of its recently formed Enterprise Growth organization. Enterprise Growth was formed to leverage American Express' existing assets and capabilities to generate incremental fee revenue and to drive the company's entry into new payment areas and related businesses.
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American Express Acquiring Steve Case's Revolution Money For $300 Million
American Express Acquiring Steve Case's Revolution Money For $300 Million
Old-line credit card company tries to get hip.
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Now We Know How Many Millions Of Dollars These Startups Made Selling To Facebook
Alyson Shontell
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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 ashontell@businessinsider.com.
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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The cofounder of BlueJeans says the the coronavirus crisis accelerated its $500 million acquisition by Verizon, and predicts there's more 'consolidation of video platforms' to come
Benjamin Pimentel
2020-04-16T20:17:00Z
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Blue Jeans Network Cofounder Krish Ramakrishnan
Blue Jeans Network
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On Thursday morning, Verizon announced its intent to acquire videoconferencing company BlueJeans in a deal said to be valued at about $500 million.BlueJeans cofounder Krish Ramakrishnan, executive chairman, said his company had been exploring a merger with Verizon when the coronavirus crisis hit. That convinced the two companies to work faster on the merger."Imagine a transaction of this nature just done on video when everybody is working from home," Ramakrishnan told Business Insider. "Even the due diligence was done from home. Never happened. We got it done last night at 12:10 AM."Verizon's acquisition of BlueJeans combines a major telecommunications network with one of the most widely-used video conferencing platforms — even as it faces competition from Microsoft, Cisco, and upstarts like Zoom.Ramakrishan predicts a consolidation in the videoconferencing space as the sudden pivot to a remote workforce highlights the importance of the technology.Click here for more BI Prime stories.On Thursday, Verizon announced its intent to acquire BlueJeans Network, a videoconferencing company first founded in 2009.BlueJeans cofounder and Executive Chairman Krish Ramakrishnan said the startup had been exploring a possible sale to Verizon for months. The coronavirus crisis forced the two companies to work faster on a merger, which they completed the way corporate deals are now done in the age of COVID-19. "Imagine a transaction of this nature just done on video when everybody is working from home," Ramakrishnan told Business Insider. "Even the due diligence was done from home. Never happened. We got it done last night at 12:10 AM."The merger, which Ramakrishnan said was worth under $500 million, underscores the heightened importance of videoconferencing platforms given the sudden rise of the remote workforce. In its lifespan, BlueJeans had raised some $175 million from investors including New Enterprise Associates, Accel, and even baseball legend Derek Jeter. BlueJeans will become a division of Verizon. Ramakrishnan said he will continue with his current role, which is focused on product innovation and strategy. There will be no layoffs at BlueJeans, he said: "That is the promise."The rise of videoconferencingBlueJeans competes with other fast-growing platforms such as
Zoom
, Microsoft Teams, and Google Hangouts which have seen a spike in user traffic after the pandemic forced millions of employees worldwide to work from home."We had, I kid you not, 300% increase in video traffic and usage in just three months," Ramakrishnan said.So why sell now?"It's a tough decision," he said. "You always want to continue by yourself, to take it to the next level, and build and build and build."But it also became clear that being part of Verizon would give BlueJeans access to a "huge sales team" and cutting edge 5G and edge computing technologies. Ramakrishnan said merger discussions had been going on for some months when the pandemic hit."I was afraid the talks would break down because of the shutdown," he said.Industry consolidation But the opposite happened, he said. The talks "accelerated because of the use case of everybody working from home.""Until now, work from home was a convenience that people thought was okay for certain people," he said. "What this pandemic has taught is lots of people can actually work from home. It's going to be the new norm."Video conferencing clearly will become a more widely used technology which Ramakrishnan said will lead to a big shift in the industry, exemplified by the Verizon-BlueJeans merger."Definitely, there's going to be consolidation," he said. "There's going to be consolidation on the video platform and maybe adjacent telephony platforms because everything is about collaboration. And I think it's going to happen because of this work from home phenomenon."Why BlueJeans?For Ramakrishnan, the Verizon merger marks the end of the journey of a startup he launched 11 years ago, when video conferencing was still an unfamiliar tool for many people.He wanted to change that, and even the name he picked for the startup underscored his goal of coming up with a product that would be "easy to use, easy to approach, and something very familiar for everybody.""I came up with 'BlueJeans,'" he said. "It's casual. And you can actually go in style if you wear a jacket. It fits the enterprise, as well as work from home. You just need a clean shirt or something. So it applies to all situations. And universally, the most loved fabric is denim. Everybody likes blue jeans."Got a tip about Verizon, BlueJeans or another tech company? Contact this reporter via email at bpimentel@businessinsider.com, message him on Twitter @benpimentel or send him a secure message through Signal at (510) 731-8429. You can also contact Business Insider securely via SecureDrop.
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PetSmart Is Getting Bought Out for $8.7 Billion
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It's The Biggest Leveraged Buyout Of 2014
Greg Roumeliotis,
Reuters
2014-12-14T22:37:00Z
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The Petsmart store in Westminster
Thomson Reuters
Reuters) - Pet supply retailer PetSmart Inc succumbed to calls from some shareholders for a sale on Sunday with an agreement to be bought by a private equity consortium led by BC Partners Ltd for $8.7 billion, in the largest leveraged buyout of the year.
At a time when a stock market rally has made private equity firms reluctant to take companies private for fear of overpaying, the deal illustrates how activist investors have the potential to drive corporate boards to explore such deals and accept a price that makes a leveraged buyout possible.
Activist investor Jana Partners LLC began pushing for a sale after disclosing a 9.9 percent stake in PetSmart in early July.
PetSmart said BC Partners, as well as some of its fund investors, including La Caisse de dépôt et placement du Québec and StepStone, signed an agreement to buy the company for $83 per share. Longview Asset Management, which has a 9 percent stake in PetSmart, will roll a third of its holding into the deal.
Jana paid less than $55 per share on average for its percent stake in PetSmart, according to regulatory filings.
The buyout price represents a 39 percent premium to PetSmart's closing price of $59.81 on July 2, the day before Jana disclosed its stake and called for PetSmart to explore a sale.
PetSmart shares on Friday closed at $77.67.
Phoenix-based PetSmart, which has about 54,000 employees and operates 1,387 pet stores, said in August it would explore a potential sale of the company.
PetSmart faced mounting investor pressure at a time when fierce competition from large retailers, including Wal-Mart Stores Inc and Amazon, is squeezing specialty stores.
Last month, PetSmart reported flat third-quarter net income of $92.2 million as net sales rose 2.6 percent to $1.7 billion.
Buyout firms KKR & Co LP and Clayton, Dubilier & Rice LLC had also teamed up to bid for the company, Reuters reported last month. Apollo Global Management LLC, another buyout firm, had also vied for PetSmart, according to people familiar with the matter. Representatives for these private equity firms declined to comment.
J.P. Morgan Securities LLC and Wachtell, Lipton, Rosen & Katz advised PetSmart. BC Partners and its partners were advised by Simpson Thacher & Bartlett LLP and Ernst & Young. Longview was advised by Skadden, Arps, Slate, Meagher & Flom. Citigroup, Nomura, Jefferies, Barclays and Deutsche Bank have committed to finance the acquisition with debt.
(Reporting by Greg Roumeliotis in New York; Editing by Paul Simao and Leslie Adler)
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Pinterest Acquisition Kosei
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One of Pinterest’s most important acquisitions happened because of a Stanford class and a dinner party
Jillian D'Onfro
2015-01-31T16:25:00Z
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Pong Eksombatchai (engineer), Rahul Pandey (engineer), Jure Leskovec (Kosei co-founder), Lance Riedel (Kosei co-founder & CEO)
Pinterest
Pinterest engineer Tracy Chou remembers being instantly impressed by the professor of her Network Analysis class back when she was at Stanford for grad school in 2009.
The class delved deep into large-scale social networks studies —research which was still relatively new — and professor Jure Leskovec was breaking ground. "It was the coolest subject ever and Jure was super bad-ass," Chou says. "He was very young but had already written around 20 papers." Chou loved the class (and scored an A), but after she finished graduate school in 2010, she only ever kept in touch with Leskovec through social media. That could have been the end of the story.But it isn't.
Fast-forward four years, and Chou randomly bumped into Leskovec at a dinner party in September 2014. At that point, she had been a software engineer at Pinterest since 2011. He had cofounded a stealthy machine-learning ads startup ("You won't find anything information about it," Leskovec said, when Chou asked him for its name).Leskovec, his cofounder Lance Riedel, and the rest of the startup's small team had built a product graph that could map the relationships between tens-of-millions of different products. They were using that system to match mobile advertisers to consumers.
Pinterest's Tracy Chou
Pinterest
Chou had just joined Pinterest's ads engineering team, and the two volleyed ideas back-and-forth for hours. When Chou left that night, she made a mental note to talk to talk to her team about perhaps finding some way to partner with Leskovec or share data.The idea snowballed, and, as most people were taking it easy around the holidays, Pinterest and Kosei started scrambling to put together a deal. Pinterest officially announced the acquisition of Kosei in January.
"It all happened incredibly quickly," Chou says. "Everyone wanted to move fast. We saw such talent in the team and the technology was amazing. The opportunity was too good to pass up."Several of Kosei's employees (there are ten total) will join Pinterest and the companies are in the process of figuring out how best to integrate the technology to spur the social networking site's discovery and monetization efforts. The acquisition comes at a crucial time for Pinterest, a $5 billion company since it raised $200 million in May. Not only has it been significantly ramping up its amount of advertising, but it's been trying to tackle the "discovery problem."Pinterest wants to fill the gap between an idea and a specific search. It wants to help people find things they didn't know they were looking for or when they only have the faintest glimmer of an idea. If Pinterest can nail visual search, it can nail search advertising, and if it can nail search advertising, it will be taking on a market traditionally dominated by Google's AdWords.
Kosei's technology will help achieve both goals, by helping users find better pins and helping advertisers reach the users they want. Or, at least that's the goal. "It's a little bit nuts how [the acquisition] went down," Chou says. "We're really excited."
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Work & Co Design Agency Acquires Engineering Firm Presence
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A buzzy design agency that handles Apple and Google just acquired a firm to help companies enter the metaverse
Patrick Coffee
2022-04-22T15:02:24Z
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Design firm Work & Co acquired Presence, an engineering firm whose clients include Google and Toyota.
Work & Co wants to do more back-end development and metaverse services for clients, which include Apple and Nike.
It's the latest example of the lines between agencies and consultants blurring.
Design firm Work & Co agreed to acquire Presence Product Group, a 75-person company that builds digital products for companies including Google, Toyota, and Discovery Communications.It's the latest example of agencies moving into consultants' turf and vice versa as they look to handle more of a companies' business. Consulting firms like Accenture and Deloitte are building marketing and design arms, while agencies make inroads into consulting services. With Presence, Work & Co hopes to win more product design, development, and metaverse work for its clients, which include Apple, Nike, Ikea, and AB InBev. It also wants to better compete with big consultants like Accenture, Cognizant, Globant, and Thoughtworks, which typically handle mid- and back-end work but do not build user interfaces. Work & Co has long built apps and similar products, but has outsourced much of the back-end, or server-side and database work. Presence also will help clients build internal Salesforce networks and provide services such as VR and AR as companies' interest in the metaverse grows. "Presence has more experience building specific things in the metaverse and thinking about how things fit into the blockchain from a server-side development perspective," Work & Co founding partner Mohan Ramaswamy said.The acquisition will also help Work & Co expand to San Francisco, where Presence is headquartered, and Mexico City, where Work & Co wants to take advantage of the boom in Latin American tech talent, Ramaswamy said.Ad industry M&A has been especially hot as private equity firms pour money into the sector. Advisory firm Ciesco found a 17% year-over-year increase in the sector in the first quarter of 2022. US digital agencies were the hottest acquisition targets, representing 86 out of 500 deals.Presence is Work & Co's latest recent acquisition after Tendigi and Acknowledge in 2019 and 2020. Work & Co said it made $110 million in revenue in 2021, up 20%, while Presence brought in $18 million.Terms of the Presence deal were not disclosed. Work & Co did not use a financial advisor; Presence accepted a combination of cash and equity. For now, Presence founder and CEO Jason Monberg will keep his title and the firm will operate as a Work & Co subsidiary.
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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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Grading Google's Acquisitions
Jay Yarow
Oct. 23, 2009,
7:55 AM
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Eric Schmidt keeps saying it: Google is back in buying mode. The company will be doing "one-a-month acquisitions largely in lieu of hiring."
But before Google (GOOG) spends some of its massive pile of cash, maybe it's time for a history lesson.
Google's grades and marks →
To date, Google's made around 50 purchases. We've graded 13 of them here.
Some have been pretty smart -- for examples, look at DoubleClick or Applied Semantics.
Others have been silly like Adscape or Jaiku.
Looking through the list, it's easy to figure out what Google needs to avoid when it makes decisions about acquisitions: side projects that aren't relevant to its business. If Google can't resist buying one of those companies -- and with Google, it feels inevitable that it can't -- then it needs to figure out how to let the founders build their company within Google. In two instances--Dodgeball and Jaiku--Google bought companies that could have become Twitter. Neither one is still alive.
Schmidt says most of Google's coming acquisitions will be small companies. That's good. Our review shows Google is good at is acqui-hiring smart people and plugging them into one of Google's growing products like video, or mobile.
Here's Google's grades and marks →
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Joe Moglia's SPAC Plans to Acquire Fintech OppLoans
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Former TD Ameritrade CEO and chairman Joe Moglia's SPAC just announced plans to acquire fintech OppLoans in a deal valued at $800 million
Shannen Balogh
2021-02-10T12:05:05Z
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Jared Kaplan, CEO of OppFi.
OppFi
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Former TD Ameritrade CEO and chairman Joe Moglia's SPAC announced plans to acquire fintech OppLoans.
OppLoans, now known as OppFi, facilitates small-dollar personal loans to credit-challenged consumers.
OppFi is looking to facilitate more than just personal loans, building out in areas like credit cards.
TD Ameritrade's former top executive has found a target for his so-called blank-check company.Joe Moglia's special purpose acquisition company, FG New America Acquisition Corp., announced plans to acquire fintech OppLoans, now known as OppFi, on Wednesday in a deal valued at approximately $800 million.Moglia, who is the former chairman and CEO of TD Ameritrade and a former college football coach, is the founder and chairman of investment firm Fundamental Global, which owns FGNA. The
SPAC
, which Moglia is also the chairman of, raised $225 million in its public listing last October. FGNA had planned to acquire a company in finance or insurance valued between $300 million and $600 million, according to federal filings."Any success I've ever had in my career, football, personal, and business, has been because I made a decision, a bet, an investment, on people," Moglia told Insider.
Joe Moglia, founder and chairman of Fundamental Global.
OppFi
Founded by Schwartz Capital in 2005, OppFi primarily serves subprime borrowers with no or low credit scores. Jared Kaplan, who joined as CEO in 2015, will remain in his role following the closing of the deal. However, the former TD Ameritrade executive has offered his expertise as well. "I have committed to working with Jared and the board and the founding family to help wherever I can possibly help," Moglia said. "If they're thinking about an M&A opportunity, that would be something they'd probably like my opinion on."OppLoans is now OppFi, looking to do more than personal loansOppFi's niche is the segment of consumers that can't access credit through traditional channels. For every loan application, OppFi offers to do a check on a consumer's behalf to see if they qualify a near-prime loan with traditional lenders. 92% of the time, applicants don't get any offers, Kaplan told Insider.Consumers who aren't able to access credit through traditional channels, like credit cards and bank loans, often turn to payday loans to make ends meet. Borrowers are often charged fees on low-dollar payday loans, the cost of which translate to an average rate of around 400%, according to the CFPB.OppFi aims to serve as an alternative to payday loans, lending as much as $4,000 at rates between 99% and 199%. OppFi's average loan size is around $1,500 lent for 11 months. It doesn't charge any fees, including origination, prepayment, or late fees."That population has no other options," Kaplan said, "whereas with our bank partners, we're able to really see through that traditional
credit score
and get them something that helps them in a really difficult situation."While it started as a direct lender — it still offers installment loans in 13 states — OppFi has since pivoted to a partner banking model, facilitating and servicing loans on behalf of community banks.Powered by OppLoans enables banks themselves to issue small-dollar loans to credit-challenged customers. OppFi manages the marketing, customer acquisition, and loan servicing for the banks."They had the wisdom to understand that that sophisticated strategy is not what you execute. You execute a simplified version of that," Moglia said."Then you have a competitive advantage in the market niche you choose to participate in," Moglia said.The fintech's rebrand from OppLoans to OppFi indicates Kaplan's ambitions beyond personal loans. OppFi is currently building an earned wage access-like product, lending to consumers and getting repaid via payroll deduction. And in the second half of this year, OppFi will launch its own credit card."That's the perfect graduation product for someone that took an installment loan, has proved their ability and willingness to repay, and now can get traditional mainstream credit," Kaplan said.Moglia had a non-traditional route to Wall StreetMoglia doesn't cut the usual profile of a finance executive. He started his career as a football coach, spending time as an assistant at various high schools and colleges. In 1984 he switched gears to finance, joining Merrill Lynch and entering its MBA training program. Moglia would spend nearly two decades at the firm.In 2001, Moglia joined what was then-known as Ameritrade, where he served as CEO until 2008. He stepped down from his role that year and transitioned to serve as chairman of TD Ameritrade.He also began coaching college football again, spending seven seasons as the head football coach at Coastal Carolina.He stepped down from his role as chairman at TD Ameritrade last October after rival Charles Schwab acquired the broker for $22 billion.Now with Moglia in his corner, Kaplan sees opportunities to extend OppFi into
mobile banking
, point-of-sale lending, and mortgages."Joe's experience is, for me and for the business, game-changing," Kaplan said. "On top of all of that, we can defend a spread offense now, because we've got coach on our side."
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Salesforce is said to be looking at making acquisitions in the robotic process automation market. Here are 10 RPA firms the cloud giant could buy, according to analysts.
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Cloud giant Salesforce is said to be looking to acquire a company that specializes in robotic process automation, or RPA, technology that helps businesses automate common and repetitive computer tasks.The move would help boost Salesforce's position in the cloud applications market, at a time when the tech giant is going through a period of slower organic growth, partly due to the coronavirus crisis.We checked with analysts on the RPA companies that could be potential acquisition targets for Salesforce. Here are the 10 possibilities they mentioned:Click here for more BI Prime stories.
Salesforce, like other enterprise software companies, has so far seemed to weather the pandemic better than those in certain other sectors.However, the cloud software giant is still being cautious, and in May cut its full-year revenue targets from $21 billion down to $20 billion. That would show revenue growth of 17% from a year prior, as opposed to the higher 23% it was aiming for, which would in turn show some of Salesforce's weakest growth in recent memory.Over the last few years, Salesforce has turned to large acquisitions — like Tableau and MuleSoft — to help meet its ambitious growth targets. It has also brought several smaller names into the fold, like its most recent acquisition of Vlocity in February. While CEO Marc Benioff said in February that he doesn't "anticipate any major acquisitions in the short term," he also described the acquisition of Vlocity for $1.3 billion as too good to pass up. And with the company forecasting a slowdown in organic growth, that could mean that another big acquisition is at least under discussion."It would make sense that they would be looking for a pretty high profile acquisition, given that they had to adjust their revenue guidance, like every company did, because of COVID," said Dan Elman, an analyst with Nucleus Research. It would help Salesforce "recover the year" and boost their growth numbers in the long term, he added. As for what kind of company Salesforce might like to actually buy, a hint may have come in the form of a recent profile of Benioff in The Information, in which an advisor to the company said that there's some interest in making a deal in the market for robotic process automation, or RPA. A Salesforce spokesperson said that the company doesn't comment on rumors or speculation. RPA is technology that helps businesses automate the common, repetitive computer tasks, that are traditionally handled by human employees. It's a market where titans like Microsoft and its Power Platform compete with leading startups including UiPath and Automation Anywhere. Salesforce, for its part, has already been investing in RPA startups via its venture capital arm, even as it builds those capabilities into its core product.Analysts tell Business Insider that a heavier investment in RPA would be a smart move for Salesforce, which "is going to want to keep up and accelerate faster," said Dan Newman, an analyst at Futurum Research.
"It would definitely be a growth opportunity for Salesforce, enabling them to accelerate for customers, the bot capabilities that they've already made an investment in Einstein," said Rebecca Wettemann, an analyst at Valoir. Einstein is Salesforce's artificial intelligence tool, embedded in all of its apps. The ultimate goal is all about making customers stick around, Newman said.Business Insider asked analysts which RPA companies Salesforce might be eyeing for an acquisition, (with all private company valuations taken from PitchBook estimates, and market caps at the time of writing). Here are the 10 companies they thought would be a good fit:
Automation Anywhere
Mihir Shukla, CEO of Automation Anywhere
Automation Anywhere
Valuation: $6.8 billionWhy Salesforce would want to buy it: Automation Anywhere already has deep ties to Salesforce, beyond just the software integrations between the two. First off, Salesforce is already an investor in the hot startup, and led its $290 million Series B round in November. On top of that, Bill Patterson, Salesforce's executive VP of CRM applications, sits on Automation Anywhere's board. Automation Anywhere's technology would complement, but not compete, with what Salesforce is already doing with its Einstein AI bots, said Valoir analyst Rebecca Wettemann. Also, Automation Anywhere has industry-specific automation capabilities, so it would complement Salesforce's current strategy in targeting sectors like finance, healthcare, and government.
UiPath
Daniel Dines, CEO of UiPath
UiPath
Valuation: $10.2 billionWhy Salesforce would want to buy it: UiPath is one of the most popular RPA companies in the market right now, and has a sky-high valuation after a $225 million funding round in June. With all of the new funding coming in, investors will likely be looking for an exit soon, either by public offering or acquisition, Valoir's Rebecca Wettemann said. UiPath is also already a Salesforce partner, with integrations between their two products. UiPath had a rocky 2019, when the company was forced to cut 400 jobs, around the same time its well-regarded CFO Marie Myers left the company. As of its new funding round, however, UiPath appears to be back on track. CEO Daniel Dines recently told Business Insider the startup is eyeing an IPO in early 2021. UiPath has raised $1.2 billion from investors, including Sequoia and Accel.
Pegasystems
Alan Trefler, CEO of Pegasystems
David L. Ryan/The Boston Globe via Getty Images
Market Cap: $9.21 billionWhy Salesforce would want to buy it: Pegasystems makes tools for customer engagement and has a platform for business process automation and custom apps. Pegasystems is somewhat of a competitor to Salesforce because it also provides customer relationship management software. As a public company that's been around for over 35 years, it may not necessarily be looking to be acquired, some analysts note — but the fact that it is a leader in the RPA market and has a focus on CRM software could be attractive to Salesforce.Pegasystems and Salesforce do have some "competitive overlap" but it would enable Salesforce to expand its portfolio, said Futurum Research analyst Dan Newman. Like Salesforce, Pegasystems also focuses on industry-specific solutions, selling products into specific market verticals like finance or manufacturing.
Blue Prism
Jason Kingdon, CEO of Blue Prism
Blue Prism
Market Cap: $1.25 billion GBP ($1.6 billion USD)Why Salesforce would want to buy it: Blue Prism is considered to be the pioneer of robotic process automation technology. Its chief technology evangelist, Pat Geary, is credited with first coining the term "robotic process automation." It's a publicly traded company, based in the UK, with about 1,000 employees and over 1,500 customers around the world. Although it was an early player in the space, it has fallen off the conversation radar, said Futurum Research's Newman, but that's exactly why it could be a target for Salesforce. A deal could help highlight Blue Prism's lead in the space, while also giving Salesforce credibility by adding a very established company. Dan Elman at Nucleus Research agreed and said the software as a service model that Blue Prism operates under would fit into Salesforce well.
WorkFusion
Alex Lyashok, CEO of WorkFusion
WorkFusion
Valuation: $400 millionWhy Salesforce would want to buy it: WorkFusion creates intelligent process automation software that's powered by pre-trained bots, artificial intelligence technology and advanced analytics. WorkFusion "just sort of aligns with that Salesforce strategy of picking one of the leaders in the space and then buying out that established customer base and using it as a cross-sell opportunity," said Nucleus Research's Daniel Elman. Its technology is often seen as competitive to Salesforce's Einstein AI bots, said Valoir's Rebecca Wettemann, but it does have pre-trained systems for financial service and insurance. "That would be attractive given Salesforce's industry solutions focus," she added, and definitely attractive to Salesforce's customers because of how simple the tools are to use. Craig Le Clair, an analyst with Forrester and an RPA expert, also cited WorkFusion as a potential target for Salesforce, noting that the company has "a lot of depth in no document extraction and machine learning and text analytics.""WorkFusion is a strong company," he said. "They'd also be getting a really good book of business as well."
Appian
Matt Calkins, CEO of Appian
Marvin Joseph/The Washington Post via Getty Images
Market Cap: $3.77 billionWhy Salesforce would want to buy it: Appian does more than just RPA, but that is just what could make it attractive to Salesforce, analysts said. Appian has an app development platform that helps users create apps without much code, automate mundane tasks for employees, and easily integrate with other business tools like Amazon Web Services, Salesforce, DocuSign and the like. While Appian is not a big Salesforce partner, and doesn't have an app on the Salesforce AppExchange app store, a lot of customers use the two together, said Valoir's Rebecca Wettemann. "Appian has a lot of interesting industry-specific capabilities that would be attractive beyond RPA that accelerate time to value to customers and play into Salesforce's industry solutions capabilities," she said. Similar to Salesforce, Appian also has an emphasis on company culture and social responsibility, which would make it a good fit in that sense as well, Wettemann said.
Apttus-Conga
Frank Holland, CEO of newly merged Apttus and Conga.
Apttus
Valuation: Before their merger, Apttus was valued at $1.86 billion Conga at $715 million for Conga, but their combined valuation is currently unknown.Why Salesforce would want to buy it: Startups Apttus and Conga recently merged. Apttus makes software to help sales people generate quotes for potential deals, while Conga makes software to draft sales contracts. While Conga hasn't marketed itself as an RPA company, its overall set of tools includes the relevant technology.Notably, not only does the combined company already partner with Salesforce for product integrations — Salesforce Ventures as an investor in each of the two companies even before the merger. Salesforce buying it up, it would get not only the Apttus-Conga RPA tools, but also its specific products for salespeople.
Digitech Systems
HK Bain, CEO of Digitech Systems
YouTube/Digitech Systems
Valuation: PitchBook does not list venture capital investors or a valuation for Digitech Systems.Why Salesforce would want to buy it: Digitech Systems primarily provides enterprise content management software, helping customers manage all of their documents, photos, and other information. Over the years, however, its product has grown to include RPA capabilities, to help share that information across other apps and services. The main thing Salesforce could find attractive about the company is its partner ecosystem, said Valoir's Rebecca Wettemann. "They have intelligent automation, they have industry capabilities, but because they sell largely through partners, they have a partner ecosystem that's already implementing their capabilities, so could be a way for Salesforce to build out more implementation partners as well," she said.
Kryon
Harel Tayeb, CEO of Kryon
Kryon
Valuation: $132.3 millionWhy Salesforce would want to buy it: Kryon, which was founded in 2008, is based in Tel Aviv and New York. Analyst firm Gartner has praised its robotic processing technology's "strong capabilities around process/task discovery...based on captured keystrokes, mouse clicks, data inputs and outputs of business users."Kryon also has been named among the top RPA companies by IT Central Station, the professional IT review site. Forrester analyst Craig Le Clair said Kryon could be a good fit for Salesforce given the software giant's more customer-facing orientation and its heavy focus on customer support and services.
Antworks
Asheesh Mehra, CEO of Antworks
Antworks
Valuation: PitchBook says that Antworks has raised $25 million in funding to date, but did not list a valuation.Why Salesforce would buy it: Antworks, a Singapore-based AI and automation company, has been attracting attention for its "intelligent automation software" used for extracting data and insights from documents.Craig Le Clair of Forrester said the company has "some really some good analytics around email management and combining with bots and so forth."
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Ocado's CFO Duncan Tatton-Brown on Trading Update and Acquisitions
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Ocado's CFO just told us 'very clearly' it is NOT looking to be acquired
Lianna Brinded
2015-03-10T14:28:00Z
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Duncan Tatton-Brown, CFO at Ocado, spoke to Business Insider about the online supermarket's growth.
Ocado/Tulchan Group
Ocado, the food equivalent of Amazon, is fast becoming the darling of the London stock market. Shares are up 135% since it floated in July 2010.Today, it reported a 19% jump in gross group sales for the 12 weeks to February 22 2015 and, only a month before, recorded its first annual profit since it became a publicly traded company.
We recently reported that the CEO of Ocado has met Amazon CEO Jeff Bezos, and we suggested the two companies would be a good fit together. But Ocado chief financial officer Duncan Tatton-Brown told Business Insider that the online delivery supermarket is aiming to expand internationally is not "looking" to be snapped up by a competitor."We're doing well in a difficult market. We would do even better in a benign market," said Tatton-Brown in telephone interview with Business Insider. "The latest figures show that it takes the strength of a particular offering like ours to grow. Customers are moving more online [for grocery shopping] from the convenience and comfort of their own sofa. Customers are increasingly coming to us even though the market is difficult.""While not much changed since we reported our results last month [in terms of companies courting it for a takeover or in developing market trends], I will say this very clearly, we're not looking to encourage or aspire to an acquisition. There is a huge opportunity and value for Ocado to grow and to grow well."Today, Ocado revealed that in 12 weeks to February 22, 2015, group gross sales soared 19% year on year. In its first quarter trading statement, it also said average orders per week also rose by 18.1%.
Last month it reported that revenues grew nearly 20% to nearly £1 billion ($1.5 billion) in 2014. As a milestone in its growth trajectory in the highly competitive British grocery market, which is dominated by the likes of Tesco and Asda, it also recorded a pre-tax profit of £7.2 million.Ocado is one of the most exciting tech companies in Britain. It was founded in 2000 and took a decade to get to the stock market. As we've described it before, it's basically Amazon but for food. It also has its own warehouses, trucks and drivers.In fact, Ocado prides itself on being cut from a different cloth than its competitors: it prefers to recruit staff who have a background in customer service or customer relations, rather than professional drivers, and then teach them to drive the vans.
Google Finance
The share price is up around 135% since it floated but it is still down over 30% since March last year.
"Britain's grocery retail market is difficult. You just have to look at our competitors trading information to see that," said Tatton-Brown to Business Insider. "A number of players are increasingly focusing on online sales and the discount sector is challenging. It's good news for the customer but not for the retailer. Amid all this, wage bills are going up and the industry is being squeezed.""But the dynamics are changing. Our business is growing and as a new player we're doing well in a difficult market."According to market researcher Kantar Worldpanel's data out today, Britain's biggest supermarket Tesco posted its strongest sales performance in 18 months, with a 1.1% rise in sales over the 12 weeks to 1 March 2015. It also claims 28.7% of Britain's market share.
Kantar WorldPanel
But, Ocado has a plan. "We are looking at expanding internationally eventually," said Tatton-Brown. "We are targeting to sign our first partnership deal and are looking at markets to expand in. [When we do expand internationally] we are looking at bigger, more developed Western markets."
Ocado has a long way to go to rival the likes of Tesco and Asda but if it keeps up this momentum and expands internationally, it take the world by storm.And the analysts think so too.“Increasingly, it feels like Ocado is starting to walk the walk," said Phil Dorrell, director of the retail consultants, Retail Remedy in an emailed statement. “Ocado is proving not just a successful online grocer but a powerful IT and Operations developer for other retailers. We certainly wouldn’t rule out other large scale collaborations in the future."
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Finding The Logic Behind Marissa Mayer's Monster Acquisition Spree
Jay Yarow
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Yahoo CEO Marissa Mayer.Mario Tama, Getty ImagesMarissa Mayer is on an insane acquisition spree as she tries to breathe life into Yahoo.
In this month alone, she's hoovered up four companies. Since she took over a year ago, she's bought 18 different companies, according to Wikipedia. (We checked Wikipedia against Yahoo's official Twitter feed which announced all the deals.)
Her old company, Google, was a prolific acquirer, which must have been an influence over her style.
We've assembled the companies here to try to make some sense of her scattershot approach to rebuilding Yahoo.
If you look closely, you can see a pattern.
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Microsoft Eyes Appcelerator Acquisition
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Microsoft Might Buy A Startup That Powers 10 Percent Of The World's Smartphones
Julie Bort
2013-02-01T15:56:03Z
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Cofounder Jeff Haynie Appcelerator
Jeff Haynie
We keep hearing that Microsoft will soon snap up mobile app cloud company Appcelerator.
Sources close to the company have told Business Insider that "there's been dialog at various levels with Microsoft," but that the two are not yet in final talks.
The acqusition would likely be to beef up Microsoft's own cloud service, Azure.
CEO and cofounder Jeff Haynie won't publicly comment, saying that his goal is to build a long-term company.
But if the price was right? Note that this is Haynie and cofounder CEO Nolan Wright's second startup together. They sold their previous venture, Vocalocity, to another service provider and it is still in operation today.
The closer you look at Appcelerator, the more you can see why Microsoft would be sniffing around.
Appcelerator, makes a popular mobile app development product called Titanium which lets app developers write apps for all the smartphone mobile operating systems including iOS, Android, Windows Phone, BlackBerry, and HTML5.
After writing their apps, Appcelerator hosts them and tracks usage and other stats. Because its basic service is free, it built an enormous following of 418,731 developers customers. It hosts some 50,208 applications deployed on 111 million devices, or about 10% of the world's smartphones.
Owning Appcelerator would give Microsoft access to a huge network of developers to encourage them to write Windows Phone apps.
Haynie and Wright are well-known in the app development world. Wright once worked at Marc Andreessen's Netscape. Haynie is an
angel investor
, known for his work on the web app hosting product JBoss, now owned by Red Hat. Red Hat even has a minor stake in Appcelerator, but not enough to block a sale to its rival Microsoft, sources say.
Appcelerator has become so popular, that Intel paid Appcelerator to support Tizen, sources close to the company say. Tizen is a new smartphone operating system that Intel and Samsung are developing to compete with Android and the iPhone.
Haynie has no urgent need to sell. Appcelerator is well-funded. It's landed $50 million in venture funds, enough money to make four acquisitions itself.
Don't miss: 8 Enterprise Startups Creating A Brand-New, $4 Billion Market
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A Startup Rejected Facebook's Acquisition Bid, And Now Facebook Is Choking It To Death – WSJ - Business Insider
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A Startup Rejected Facebook's Acquisition Bid, And Now Facebook Is Choking It To Death
Nicholas Carlson
Mar. 19, 2013,
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Reuters/Beck DiefenbachFacebook keeps doing this thing where it tries to buy a startup, and when the startup refuses to sell, Facebook does its best to choke the startup to death.
Last year Facebook did this with Snapchat, the photo-sharing app where the photos disappear after a few seconds.
After brief talks in the fall went nowehere, Facebook came out with an exact clone of Snapchat called Poke.
The latest example is from ace WSJ reporter Evelyn Rusli, in the middle a longer story about how Facebook isn't getting along with Facebook developers lately.
Rusli writes:
On Friday, Facebook blocked MessageMe Inc., a messaging service that had just launched days earlier, from accessing users' friends list. Arjun Sethi, a MessageMe co-founder, said Facebook cited a section of its policy that addressed restricting apps that copied a core Facebook product or service.
According to people familiar with the matter, the fledgling service had recently rebuffed takeover interest from the social networking company.
Facebook declined to comment.
Also last year, a startup entrepreneur named Dalton Caldwell said Facebook threatened to kill his startup after he refused to sell, too.
There's not anything wrong with Facebook's behavoir here. All's fair and all that. But, wowzers, do those folks play some hardball.
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A Startup Rejected Facebook's Acquisition Bid, And Now Facebook Is Choking It To Death
All's fair and all that, but wowzers that's some hardball.
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Microsoft Might Be About To Make A Giant Move Into Android Phone Software
James Cook
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Microsoft CEO Satya Nadella has met with the founders of open source Android software company Cyanogen, The Information reports, citing a source who had been briefed by Microsoft.
Cyanogen is the company behind the somewhat popular CyanogenMod software for Android phones. The open-source modification replaces the Android operating system with a range of extra features and customization options.
At the moment, this type of operating system is of primary interest to geeks interested in open-source adventurism.
However, if the Cyanogen operating system is better than Android — and if it came preloaded on a decent phone — it might take off. Every single Android app works on Cyanogen, so Cyanogen users can get the best of both open-source worlds.
In other words, where Android is "open source," Cyanogen is "even more open source-ier." It is thus a confusing beast: Cyanogen is both a threat and an addition to Google's Android ecosystem.
The Information is also reporting that Amazon, Samsung and Yahoo are also interested in either partnering with Cyanogen to bring CyanogenMod to smartphones, or outright acquiring the company.
Cyanogen has previously attracted support during its series B fundraising round, taking $23 million from investors such as Chinese internet giant Tencent and venture capital firm Andreessen Horowitz.
Speaking at the time of Cyanogen's series B round, Andreessen Horowitz partner Peter Levine explained why the company was such an attractive investment prospect. "Today, tens of millions of devices are running Cyanogen worldwide, and we believe that CM has the opportunity to become one of the world's largest mobile operating systems. As past history suggests, companies such as Microsoft and RedHat have done exceedingly well by being independent of hardware, and we believe that this trend will accelerate in the mobile world."
Partnerships with smartphone manufacturers are an important target of Cyanogen's plan to bring its software to more users. In August it was reported that the company had hired Facebook Product Marketing employee Sid Murlidhar to lead third-party integration.
Microsoft would be a curious parent for a software company with its entire product embedded in the Android operating system. In July, Microsoft announced it would end its production of Nokia X phones, which ran a customized version of Android. The presence of Android in Microsoft's smartphone range was described by a source as "embarrassing."
However, Microsoft has a number of patents used in Android and earns about $2 billion in revenue from them every year — so Microsoft does have a financial interest in a healthy Android ecosystem even if it doesn't want to make the phones itself.
In a statement to Business Insider, Microsoft declined to comment on this story, saying "Microsoft does not comment on rumour or speculation."
Amazon, Yahoo and Samsung present a more obvious destination for Cyanogen. Smartphone manufacturers looking to preload Google apps on their devices have previously had to allow the tech giant control over both the hardware and operating system of the device. Cyanogen's open source design eradicates this agreement, leaving smartphone manufacturers free to preload apps without Google's interference.
SEE ALSO: Cyanogen Took Big Money From Serious SiIlicon Valley And Chinese Investors
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Microsoft Might Be About To Make A Giant Move Into Android Phone Software
Microsoft Might Be About To Make A Giant Move Into Android Phone Software
The open source Android mod has caught the eye of some tech industry giants.
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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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Inside Roku, Talk Is Heating up About an Acquisition by Netflix
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Inside Roku, talk is heating up about an acquisition by Netflix
Kali Hays,
Claire Atkinson,
Natalie Jarvey, and
Tom Dotan
2022-06-08T10:45:00Z
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Roku has a growing advertising business, something Netflix is looking to get into.
Roku started as a product inside Netflix. It was spun out more than a decade ago.
A deal makes sense, some insiders say. Others question Netflix's desire for a hardware company.
At Roku, a video-streaming platform operator that's suffered a punishing stock plunge, employees are buzzing about the possibility of an acquisition — and their talk and hopes are pinned on Netflix.Employees at Roku have been discussing the possibility of a Netflix acquisition in recent weeks, according to people familiar with the matter. The chatter comes as Roku's stock has dropped about 80% since late July on weaker demand for video streaming and lower set-top-box sales.Roku competes with Apple, Amazon, Google, and Samsung in the market for streaming devices, and some of those industry titans are battling with the smaller company for lucrative video-ad dollars. The collapse in Roku's stock made it hard to compete with its larger tech rivals on pay in a tight labor market. The result has been a staggering increase in equity grants to employees, leaving Roku well underwater on stock-based compensation.Roku has been seen as an acquisition target before — including last year, when, according to The Wall Street Journal, Comcast CEO Brian Roberts considered purchasing the company. In January, the departure of a top Roku executive stoked questions about the company's future.In recent weeks, the possibility of a Netflix acquisition has become the focus of internal chatter at Roku. That's when Roku abruptly closed the trading window for all employees, prohibiting them from selling any of their vested stock at a time when they should normally be able to do so, according to two of the people familiar with the matter. There may be other reasons for such a trading halt. Companies typically close trading windows for employees before releasing information that will affect their share price to avoid insider trading. Spokespeople for Roku and Netflix declined to comment.Netflix wants ads and Roku has them
Netflix co-CEO Reed Hastings.
Gonzalo Fuentes/Reuters
Some of the people familiar with the matter, along with industry bankers and other experts, told Insider the timing would be advantageous for both parties if they were looking to strike a deal. Roku's valuation had plunged below $13 billion as of the close of trading on Tuesday, making an acquisition easier to swallow than a year ago when Comcast was reportedly eyeing a deal.Netflix is looking to introduce advertising to its service for the first time as it faces increased competition and subscriber losses. Roku has built a robust video-advertising platform that generated $647 million in first-quarter revenue. That's about seven times the sales brought in by Roku's hardware business, which makes video-streaming boxes and related devices."It makes sense with where Netflix wants to go," a technology investment banker said. "And it makes sense in this current environment. Everyone is looking around thinking, 'I was worth twice as much last year. What happened?'" One senior-level Roku employee said a deal between the two companies would "align well in terms of culture, business, and current valuation." Netflix is trying hard to get into advertising-based video on demand "and Roku has it," this person added. Everyone who spoke with Insider for this story asked not to be identified discussing private matters. A long, intertwined historyNetflix has turned to acquisitions in the recent past to help it expand. When the company decided last year to start offering video games, it went on a mini acquisition spree, snapping up several small game developers, including Boss Fight Entertainment in a March deal. Roku and Netflix have a long, intertwined history. Anthony Wood, Roku's founder and CEO, developed a set-top box inside Netflix in the early 2000s. For many years, the companies operated their corporate headquarters next door to each other in Los Gatos, California. Reed Hastings, a Netflix cofounder and co-CEO, decided to spin that business out in 2008 over concerns that owning its own platform would hamper its ability to distribute its streaming app on other devices. In 2014, Hastings reiterated his lack of interest in hardware. "We're working with over 1,000 devices now. There's no value add for us to do a device," he said during an interview at the Code Conference.One Roku insider was skeptical of a deal, saying Netflix "never showed an appetite for getting into hardware." Roku commands a leading share of the connected-TV market in the US, but sales of its players tumbled 19% during the first quarter, resulting in a loss for the division.That part of the business is now dwarfed by Roku's advertising operation, though. And Netflix would get immediate scale in advertising by buying Roku.'There's no religion anymore'Netflix is under siege from other video streamers, sending its stock down about 70% in the past six months. Owning Roku would give it a huge competitive advantage when it comes to knowing what people watch and when they stop watching, not just on Netflix but also across rival streaming channels carried through Roku boxes.One media-industry executive who has spoken with Netflix in recent weeks told Insider that Hastings' view of his company's future was, "Nothing is off the table," and that he's open to anything."There's no religion anymore," this person said.Roku has more than 61 million active accounts, making it an important strategic weapon in the growing battle for video-streaming-ad dollars between tech and media-industry giants. While its neutral status was a valuable tool in the past, the company's direct connection to so many consumers and homes could give Netflix more power to negotiate with other platforms and industry titans. Indeed, Apple and Amazon run video-streaming services and sell their own streaming devices. That hasn't prevented those companies from offering rival services through their hardware.Yet some industry observers questioned whether it would make sense for Netflix to spend so much on an acquisition at a time when it faced pressure from investors to boost revenue growth and staunch subscriber losses. Despite purchasing several small video game developers recently, the company has eschewed major M&A deals.One industry analyst also highlighted that Netflix could run afoul of antitrust regulators if it tried to buy Roku. Another industry source said Netflix was early in figuring out what it wants to do in advertising and might not know yet if it needs to go shopping for a business the size of Roku.Despite recent share declines, Roku would probably cost Netflix at least one-fifth of its $88 billion market valuation.
Disclosure: Mathias Döpfner, CEO of Business Insider's parent company, Axel Springer, is a Netflix board member.
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Apple's Potential M&a Candidates - $AAPL
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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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Gowalla Is Trying to Get Eric Scmidt's Attention on Twitter. Looking for an Acquisition, or Is It Just Spam?
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2010-11-03T20:39:00Z
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Zillow And Trulia Shares Go Bonkers On Report Of A Possible Deal
http://www.businessinsider.com/zillow-reportedly-trying-to-acquire-trulia-2014-7/comments
en-us
Wed, 31 Dec 1969 19:00:00 -0500
Thu, 30 Jun 2016 07:29:43 -0400
Sam Ro
http://www.businessinsider.com/c/53d17f6cecad04037594df51
WHERE IS ANTI-TRUST LAW NOW?
Thu, 24 Jul 2014 17:49:32 -0400
http://www.businessinsider.com/c/53d17f6cecad04037594df51
DONT THESE 2 COMPANIES COMPETE?
CAN PEPSI BUY COKE?
HOW CAN TRULIA AND ZILLOW MERGE ???????????????
http://www.businessinsider.com/c/53d159c369bedde0025d7582
Mikent
Thu, 24 Jul 2014 15:08:51 -0400
http://www.businessinsider.com/c/53d159c369bedde0025d7582
The two companies' combined market cap rose by $1.5 billion today. Not bad for two companies whose combined profit is..... 0 !
http://www.businessinsider.com/c/53d14fcaecad04b32c94df58
Meanwhile
Thu, 24 Jul 2014 14:26:18 -0400
http://www.businessinsider.com/c/53d14fcaecad04b32c94df58
In other news, Lyft is merging with Uber and AirBnB.
With just one app, you'll be able to share a ride to your shared sofa.
http://www.businessinsider.com/c/53d14ced6bb3f7b4625d7582
JJJJ
Thu, 24 Jul 2014 14:14:05 -0400
http://www.businessinsider.com/c/53d14ced6bb3f7b4625d7582
Markets tend towards consolidation. | M&A | 1 | [
{
"label": "M&A",
"score": 1
}
] |
Marissa Mayer Makes Her First Acquisition in New York Startup Stamped - Business Insider
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Marissa Mayer Makes Her First Acquisition, Stamped—A Startup Run By Her Former Colleague
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Twitter/@Marissamayer"Got to visit our new acquisition, Stamped, this morning - happy to be reunited with Robby (rmstein) and his team," Mayer posted on Instagram.
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Update: Stamped has written a blog post about its acquisition. We've updated the article with information from the founders' post.
Stamped, a mobile app founded by two ex-Googlers, has been acquired by Yahoo.
It's Marissa Mayer's first acquisition (and one of Justin Bieber's first successful outcomes as a startup investor*), and it's no coincidence that Yahoo's CEO and Stamped share Google ties.
Stamped's CEO, Robby Stein, used to work for Mayer at Google where he was a product manager.
The buyout fits every hint Mayer has dropped about her acquisition plans:
She's bringing talent
She's bringing in mobile developers and engineers (Stamped has about 10 employees)
She's investing in a relatively cheap social startup that she and Yahoo can try and grow into a much bigger business.
The acquisition was in the right price range. While we don't know the exact amount, a source tells us it was "a nice size" but nothing wild.
Stamped launched one year ago as a mobile review app for places and things curated by friends.
This summer, the app was completely revamped, and Stamped brought on a list of all-star investors including Ryan Seacrest, Justin Bieber, Ellen DeGeneres and The New York Times. It has raised $3 million to date.
Although Stamped's app will be wound down, the acqui-hire is still a great win for New York tech. Mayer plans to use Stein's team to help build out something more robust for Yahoo on the east coast.
"The Stamped team will be creating a brand new product and engineering office for Yahoo in NYC’s Bryant Park," the founders have written on their site. "After everything we learned from building Stamped, we’re excited to start work again on something big, mobile, and new -- but we can’t discuss the details just yet. And we’re really stoked to be able to hire lots of talented engineers and designers for this new project."
The acquisition is also a very Google-centered move on Mayer's part. Mayer is an ex-Googler; Stein's an ex-Googler. Google Ventures and Metamorphic Ventures (comprised of ex-Googlers) were two of Stamped's investors.
"As a team of mostly former Googlers, we’ve all worked with and are big fans of Marissa," the founders wrote.
"At the end of the day great teams win, we are excited to watch Robby and Bart help NYC and build out the next phase of Yahoo," Metamorphic's David Hirsch says.
Back in August, we interviewed Stein about his thoughts on his former boss becoming the CEO of Yahoo (and what it's like to work for her).
Here's what he had to say:
<div>Please enable Javascript to watch this video</div>
*We originally wrote it was Justin Bieber's and Scooter Braun's first startup exit, but the team has had other exits as well.
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Marissa Mayer Makes Her First Acquisition, Stamped—A Startup Run By Her Former Colleague
Marissa Mayer Makes Her First Acquisition, Stamped—A Startup Run By Her Former Colleague
And Justin Bieber cashes in.
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Rumor: EA Acquires Playfish For $250 Million
Nicholas Carlson
Oct. 14, 2009,
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Update: Electronic Arts has acquired Facebook games maker Playfish, another second-hand source tells us.
Our new source says his source at EA (following us?) could not confirm the $250 million price tag we reported earlier today, "but he did confirm that the deal is done."
This is still gossip, but we're getting hotter!
Earlier: Rumor has it Electronic Arts (ERTS) acquired Facebook games maker Playfish, Inside Social Games reports.
ISG: We have a few more details on what has supposedly been happening with Playfish. A reliable industry source says EA may have even acquired the company several weeks ago, with an announcement possibly happening in the next few weeks. We believe that Playfish could be on track to make as much as $75 million this year.
An EA acquisition of Playfish would also help validate many successful social gaming companies, as would a successful Zynga IPO. There have been no major liquidity events yet for social gaming companies, just purchases of small developer teams by larger shops.
A Playfish spokesperson tells us: "We don't comment on rumors. Full stop."
A industry source of ours can't confirm the news, but says people are talking about the combination like its a done deal -- one that cost EA $250 million.
"I believe there is some reality there," says our source, citing his own source "who is generally reliable, but not connected to either company."
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Google's Fitbit Acquisition Faces EU Antitrust Investigation
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The EU is launching a full-blown antitrust investigation into Google's Fitbit acquisition
Isobel Asher Hamilton
2020-08-04T13:48:30Z
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Yves Herman/Reuters
The EU has officially opened an investigation into Google's acquisition of Fitbit.Google announced it planned to buy Fitbit for $2.1 billion in November, but the deal has yet to get regulatory approval.The EU investigation will focus on whether the acquisition would give Google an unfair advantage over competitors by hoovering up Fitbit user data.Google's senior vice president of Devices and Services put out a blog post on Tuesday defending the acquisition.Visit Business Insider's homepage for more stories.
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The EU has officially opened an in-depth investigation into Google's planned $2.1 billion acquisition of wearables company Fitbit.The European Commission, which was already conducting a preliminary investigation of the deal, announced the probe on Tuesday. The investigation will center on whether Google's acquisition of Fitbit will allow it to hoover up health data, which could in turn give Google an unfair advantage over competitors.EU competition commissioner Margrethe Vestager said in a statement:"The use of wearable devices by European consumers is expected to grow significantly in the coming years. This will go hand in hand with an exponential growth of data generated through these devices. This data provides key insights about the life and the health situation of the users of these devices. Our investigation aims to ensure that control by Google over data collected through wearable devices as a result of the transaction does not distort competition."
Sources previously told Reuters a full-blown investigation was on the way, and that it will take about four months to complete.Google announced it had agreed to buy Fitbit for $2.1 billion in November. Last month the tech giant formally promised the EU it would not use health data from Fitbit to target ads at Google users.On Tuesday, Google's Senior Vice President of Devices and Services Rick Osterloh put out a blog post defending the acquisition."This deal is about devices, not data. We've been clear from the beginning that we will not use Fitbit health and wellness data for Google ads," Osterloh wrote, referring back to Google's promise not to use health data for ad targeting.
"We appreciate the opportunity to work with the European Commission on an approach that addresses consumers' expectations of their wearable devices. We're confident that by working closely with Fitbit's team of experts, and bringing together our experience in AI, software and hardware, we can build compelling devices for people around the world," he added.
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Slack CEO Stewart Butterfield says Salesforce's $27.7 billion deal to buy his workplace chat app will prove as historic as the launch of Windows 95 and the invention of the cloud
Paayal Zaveri
2020-12-02T20:29:09Z
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Slack CEO Stewart Butterfield.
REUTERS/Brendan McDermid
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Slack CEO Stewart Butterfield said his company's pending $27.7 billion acquisition by Salesforce represented a "pivotal moment" in the transformation of how people work.
"Now this moment is one that we will remember a couple of decades from now," Butterfield said at Salesforce's annual Dreamforce event on Wednesday, comparing the move to other historic events in the tech industry, like the launch of Microsoft Windows 95 and the invention of the cloud.
Butterfield said combining Slack with Salesforce would bring customers the "opportunity for end-to-end digital transformation."
The CEO has been hailed as a product visionary and experienced leader in the collaboration space, and experts said he could give Salesforce a major leg up in its competition with Microsoft and the Teams app.
Visit Business Insider's homepage for more stories.
Salesforce sent shockwaves throughout the software industry when it announced on Tuesday that it planned to buy Slack for $27.7 billion.One day later,
Slack
CEO Stewart Butterfield took the virtual stage at Salesforce's annual Dreamforce conference, alongside Salesforce CEO Marc Benioff, to say the deal represented a "pivotal moment" in transforming the way people work."Now this moment is one that we will remember a couple of decades from now," Butterfield said at the event on Wednesday, comparing the deal to historic events in the tech industry, like the invention of cloud computing, the launch of Windows 95, the IBM 370 mainframe series, and the introduction of VisiCalc, the first spreadsheet program on the pioneering Apple II computer.In his view, the combination of Slack's chat platform with Salesforce's software for the sales, marketing, and advertising industries means that companies can operate from anywhere, with colleagues able to collaborate entirely digitally."This is a pivotal moment and the opportunity to really transform the way that we work so that we're not as reliant on the physical office, that we can have a digital HQ," Butterfield said.That point is especially relevant given that many companies, including Slack and Salesforce themselves, have revisited their strategies for physical office space amid the COVID-19 pandemic.Butterfield has been hailed as a product visionary for his success at Slack — with the acquisition, Salesforce is gaining an experienced leader in the collaboration space, analysts told Business Insider. That will help Salesforce and Slack to compete with Microsoft, which has used the combination of its Microsoft Teams app and the Office 365 suite to great success.Slack will become an operating unit of Salesforce, with Butterfield continuing to lead the company as CEO. The deal materialized when Salesforce Chief Operating Officer Bret Taylor and Butterfield came together to pitch Benioff on their vision for what the companies could do together, Benioff said at the event.Benioff said the deal would bring his vision of the "social enterprise" to life, making Salesforce into a hub for productivity and collaboration for businesspeople."To see Stewart come in with Bret and make it all real — well, that's just awesome," Benioff said on a call with analysts on Tuesday. Butterfield says each organization has a spectrum: On one end are processes and automated systems, and at the other are applications like Slack, Sales Cloud, and Service Cloud, which allow people to interact with those systems. Above that layer, he says, are the conversations where decision-making happens.Salesforce has done "an incredible job over the last 20 years of pulling all of these pieces together, making those applications and those systems of records incredibly tight and Slack, I think, has done a great job in taking that conversational level, the context, the decision-making and bringing it to the applications," Butterfield said. "You put those all together, and you really have the opportunity for end-to-end digital transformation." Got a tip? Contact this reporter via email at pzaveri@businessinsider.com 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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DOJ Planned to Arrest, Charge Chauvin If Acquitted of Murder: Report
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DOJ planned to arrest Derek Chauvin in court and charge him with civil-rights violations if he was acquitted of murder, report says
Ashley Collman
2021-04-29T10:44:34Z
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Derek Chauvin in his mugshot and being placed in handcuffs after he was found guilty of murder in the death of George Floyd.
Minnesota Department of Corrections via AP; Court TV via AP
DOJ has been building a police-brutality case against Derek Chauvin, the Star Tribune reported.
Feds reportedly planned to arrest Chauvin in court if he was not convicted of murder.
That case is still going forward, and indictments are expected soon, the report said.
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Justice Department officials planned to arrest Derek Chauvin at the courthouse and charge him with civil-rights violations if he was found not guilty of murder in George Floyd's killing or if there was a mistrial, the Star Tribune's Andy Mannix reported Wednesday.According to the report, federal prosecutors spent months building a police-brutality case against Chauvin and the three other former Minneapolis police officers charged in connection to Floyd's death. In an effort not to influence the outcome of the murder trial, the department held off on pushing forward with a grand-jury indictment but had a plan in place in case Chauvin was acquitted, the Star Tribune reported.
Protesters hold signs honoring Floyd outside Hennepin County Government Center in Minneapolis on March 28.
Kerem Yucel/AFP via Getty Images
People familiar with the discussions told the Star Tribune about the Justice Department's plan.
The Minnesota US attorney's office would have charge Chauvin by criminal complaint so authorities could arrest him immediately, then seek a grand-jury indictment afterward, the Star Tribune reported.But that plan was never realized, as a jury last week found Chauvin guilty of second-degree murder, third-degree murder, and second-degree manslaughter in Floyd's killing. Chauvin faces up to 40 years in prison on the most serious charge, second-degree murder, and his sentencing is scheduled for June.Federal prosecutors are still going forward with the case but plan to do so by getting a grand-jury indictment first, the Star Tribune reported, citing a source. The Justice Department impaneled a federal grand jury in February, The New York Times reported at the time.The source said indictments against Chauvin and the three other officers present during Floyd's arrest — J. Alexander Kueng, Thomas Lane, and Tou Thao — were expected soon.
The department is separately opening a civil investigation into the practices of the Minneapolis Police Department, Attorney General Merrick Garland said last week.The Justice Department declined to comment when reached by Insider on Thursday. The Minnesota US attorney's office did not immediately respond to Insider's request for comment.
The three other officers who were present during Floyd's arrest, from left: J. Alexander Kueng, Thomas Lane, and Tou Thao.
Hennepin County Sheriff's Office via AP
According to the Star Tribune, federal prosecutors planned to charge Chauvin in connection with Floyd's death and the violent arrest of a 14-year-old boy in 2017. ABC News previously reported the department was considering charges over the 2017 arrest.That incident was described in court documents by prosecutors in the murder case who wanted to use it as evidence of a pattern of behavior by Chauvin.
In a court filing, prosecutors said Chauvin struck a Black teenager in the head with a flashlight and placed him in a prone position for 17 minutes, the Star Tribune reported. ABC News reported, also citing court documents, that Chauvin ignored complaints that the teen couldn't breathe.The Star Tribune reported that the three other officers would be charged only in connection with Floyd's fatal arrest.Kueng, Lane, and Thao are also set to stand trial together in August on charges of aiding and abetting second-degree murder.
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MOBILE Insider: Samsung's IoT Acquisition – Governments Look Into Xiaomi – Microsoft's New App
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MOBILE INSIDER: Samsung's IoT Acquisition – Governments Study Xiaomi – Microsoft's New App
Cale Guthrie Weissman
2014-08-18T11:00:00Z
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Mobile Insider is delivered first thing every morning exclusively to BI Intelligence members.SAMSUNG ACQUIRES SMARTTHINGS: Samsung's just announced acquisition of SmartThings for $200 million makes the Korean company the latest to pursue the Internet of Things (IOT) opportunity. SmartThings is a home automation company that makes a device to controls connected home devices. The IOT acquisition comes just months after Google bought smart thermostat maker Nest and Apple announced its connected device portal app HomeKit at its WWDC conference. Demand is ramping up for these devices as well; Nest alone was rumored to ship as many as 1 million devices by the end of this year.
BII
In the coming years, expect to see a huge surge of IoT programs. We forecast there will be 9 billion connected devices by 2018 (see chart below), which will span connected homes, connected offices, as well as connected cities. One of the huge proponents for connected cities is professor Cristean Borcea of the New Jersey Institute of Technology who tells BI Intelligence to expect civic projects that will connect cars with bridge tolls, and connect live data from vehicles to better control city traffic. For the IOT to really take off though, he says a more standardized software architecture is still needed to better prepare for these billions of devices to communicate with each other. Right now, companies like SmartThings, Nest, etc., all have their own proprietary device architecture and this will make it very hard for someone to move between their various connect "things."
SINGAPORE GOVERNMENT IS LOOKING INTO XIAOMI'S DATA COLLECTING PRACTICES: Following concerns from both a malware security firm and users, Singapore has begun looking into Chinese mobile device maker Xiaomi's data collection practices. We reported earlier this month that firm F-Analysis found out that the company was sending unencrypted data from users to its servers in Beijing without letting customers know. This investigation reportedly stemmed from a user's complaint about receiving "unsolicited telemarketing calls from abroad," wrote the Wall Street Journal. Xiaomi responded that it is the company's "top priority to protect user data and privacy."This follows growing mobile privacy concerns. Facebook has been dealing with backlash for the terms of services in its new Messenger app. Additionally, the FTC has been looking into unclear TOS from various shopping apps as well, alleging that many user agreements don't properly disclose what these apps do with customers' data. Stalwarts and upstarts alike, from Xiaomi to Facebook, still have a lot at stake in making sure their reputations aren't hurt by insufficient privacy protections.MICROSOFT RELEASES NEW APP SIMILAR TO SNAPCHAT: WindUp is a new app built by Microsoft Research that was discovered last Friday in the Windows Store. The app appears to be a Snapchat clone, as it lets users send temporary messages to each other. Microsoft Research, however, claims WindUp was actually devised for research purposes. "The application is designed to enable me and my team to explore patterns of content creation and exchange," Microsoft's Richard Harper wrote on his blog. "It isn't meant to compete with anyone else's service, and it isn't meant for commercial purposes." IN FOUR DAYS ASUS SOLD 40,000 SMARTPHONE UNITS: The race is on for cheap smartphone handsets in India. Asus has announced that it was able to sell more than 40,000 units of its low-end Zenfones in four days in India after hosing a sale on Indian e-commerce site Flipkart.com. Other companies like Xiaomi have identified India as their next market too. As we've noted, smartphone shipments growth in that region reached 166% year-over-year in the fourth quarter of last year (see chart below). APPLE LOOKING TOWARD MIDDLE EAST: New job listings have been spotted for a new Apple Store to hit the United Arab Emirates. As the UAE is the 19th richest country in the world, it makes sense that Apple would initiate retail efforts there. No word, however, on where in the country the stores will be located. All the same, Apple has yet to show interest in emerging markets like Latin America and India, where consumers are gobbling up low-end smartphones. VIRGIN AMERICA TO USE NEXUS TABLETS: Virgin America is launching a program that gives its crew members Nexus 7 tablets. The tablets will be used for employees to fulfill on-board transactions, such as food and beverage purchases, etc. It had given this program a 30-day test trial, which seemed to have worked out. American Airlines piloted a similar program, giving its flight attendants Galaxy Notes last year. Virgin America says that it will begin implementing the new devices as early as next week. Have news? Tips? Insights? Email me: cweissman@businessinsider.comHere's what else BI Intelligence subscribers are reading…Growth In Mobile Banking Users Is Slowing At Three Top BanksMillennial Media, A Mobile Advertising Bellwether, Sees Revenue Growth SlowHere Are The Three Most Important Trends In Retail Banking
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Militia Group Acquitted in Oregon Wildlife Refuge Standoff
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Anti-government militant leader Ammon Bundy and 6 followers acquitted in Oregon standoff
Scott Bransford
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2016-10-28T13:07:00Z
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Ammon Bundy talks to occupiers in an office at the Malheur National Wildlife Refuge near Burns, Oregon, January 6, 2016.
REUTERS/Jim Urquhart/File Photo
A federal court jury delivered a surprise verdict on Thursday acquitting anti-government militant leader Ammon Bundy and six followers of conspiracy charges stemming from their role in the armed takeover of a wildlife center in Oregon earlier this year.
The outcome marked a stinging defeat for federal prosecutors and law enforcement in a trial the defendants sought to turn into a pulpit for airing their opposition to U.S. government control over millions of acres of public lands in the West.Bundy and others, including his brother and co-defendant Ryan Bundy, cast the 41-day occupation of the Malheur National Wildlife Refuge as a patriotic act of civil disobedience. Prosecutors called it a lawless scheme to seize federal property by force.Jubilant supporters of the Bundys thronged the courthouse after the verdict, hailing the trial's outcome as vindication of a political ideology that is profoundly distrustful of federal authority and challenges its legitimacy."We're so grateful to the jurors who weren't swayed by the nonsense that was going on," defendant Shawna Cox told reporters. "God said we weren't guilty. We weren't guilty of anything."
As the seven-week-long trial in the U.S. District Court in Portland climaxed, U.S. marshals wrestled to the floor Ammon Bundy's lawyer, Marcus Mumford, as he argued heatedly with the judge over the terms of his client's continued detention.
Inmates are seen in police jail booking photos released in Oregon and Arizona
Thomson Reuters
The Bundys still face assault, conspiracy and other charges from a separate armed standoff in 2014 at the Nevada ranch of their father, Cliven Bundy, triggered when federal agents seized his cattle for his failure to pay grazing fees for his use of public land.The outcome of the Oregon trial clearly shocked many in the packed courtroom. Attorneys exchanged looks of astonishment with the defendants, then hugged their clients as the not-guilty verdicts were read amid gasps from spectators.Outside the courthouse, supporters celebrated by shouting "Hallelujah" and reading passages from the U.S. Constitution. One man rode his horse, named Lady Liberty, in front of the courthouse carrying an American flag.
The verdict came after four days of deliberations. One juror, a former federal employee, was dismissed over questions of bias on Wednesday and replaced by a substitute.
Ammon Bundy arrives to address the media at the Malheur National Wildlife Refuge near Burns, Oregon
Thomson Reuters
The 12-member panel found all seven defendants - six men and a woman - not guilty of the most serious charge, conspiracy to impede federal officers through intimidation, threats or force. That charge alone carried a maximum penalty of six years in prison.Jubilant supporters of the Bundys thronged the courthouse after the verdict, hailing the trial's outcome as vindication of a political ideology that is profoundly distrustful of federal authority and challenges its legitimacy."We're so grateful to the jurors who weren't swayed by the nonsense that was going on," defendant Shawna Cox told reporters. "God said we weren't guilty. We weren't guilty of anything."
As the seven-week-long trial in the U.S. District Court in Portland climaxed, U.S. marshals wrestled to the floor Ammon Bundy's lawyer, Marcus Mumford, as he argued heatedly with the judge over the terms of his client's continued detention.The Bundys still face assault, conspiracy and other charges from a separate armed standoff in 2014 at the Nevada ranch of their father, Cliven Bundy, triggered when federal agents seized his cattle for his failure to pay grazing fees for his use of public land.The outcome of the Oregon trial clearly shocked many in the packed courtroom. Attorneys exchanged looks of astonishment with the defendants, then hugged their clients as the not-guilty verdicts were read amid gasps from spectators.Outside the courthouse, supporters celebrated by shouting "Hallelujah" and reading passages from the U.S. Constitution. One man rode his horse, named Lady Liberty, in front of the courthouse carrying an American flag.
The verdict came after four days of deliberations. One juror, a former federal employee, was dismissed over questions of bias on Wednesday and replaced by a substitute.
Ammon Bundy leads a prayer in an office at the Malheur National Wildlife Refuge near Burns, Oregon
Thomson Reuters
The 12-member panel found all seven defendants - six men and a woman - not guilty of the most serious charge, conspiracy to impede federal officers through intimidation, threats or force. That charge alone carried a maximum penalty of six years in prison. The defendants also were acquitted of illegal possession of firearms in a federal facility and theft of government property, except in the case of Ryan Bundy, for whom jurors were deadlocked on the charge of theft. The takeover of the wildlife refuge was initially sparked by outrage over the plight of two imprisoned Oregon ranchers the occupiers believed had been unfairly treated in an arson case. But the militants said they were also protesting larger grievances at what they saw as government tyranny.
The standoff led to the shooting death of one protester, Robert "LaVoy" Finicum, by police shortly after the Bundy brothers were arrested, and left parts of the refuge badly damaged.More than two dozen people, in all, have been criminally charged in the occupation, and a second group of defendants is due to stand trial in February.Mumford told reporters he believed Ammon and Ryan Bundy would remain in custody for the time being but may be transferred to Nevada.Four co-defendants were free on their own recognizance during the trial. A fifth, David Fry, the last of the occupiers to surrender in February, was released hours after the verdict.
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Marissa Mayer Is Eyeing This 17-Year-Old's Mobile Startup for Acquisition
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Marissa Mayer Is Eyeing This 17-Year-Old's Mobile Startup For Acquisition
Nicholas Carlson
2012-12-14T16:02:00Z
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Yahoo is hosed in mobile. Just look at this chart:
To solve the problem by 2015, CEO Marissa Mayer is going around acquiring small startups that make mobile apps.For example, in October, she bought Stamped, a mobile startup in New York.Here's Mayer and the team, happily mugging for a photo after the deal:
"Got to visit our new acquisition, Stamped, this morning - happy to be reunited with Robby (rmstein) and his team," Mayer posted on Instagram.
Twitter/@Marissamayer
So what's next?
Over on All Things D, Kara Swisher says Mayer is taking a long look at a mobile startup out of the UK called "Summly."Summly scans the Web for news and uses an algorithm to find the type of content you want to read. Then it summarizes it for you.Summly has more than 500,000 downloads, says Swisher.That's not very many.
So probably, Mayer wants to buy the company for its CEO, a talented 17-year-old named Nick D’Aloisio.This makes sense.Mayer believes Yahoo can win by personalizing the Internet's content for individiual Yahoo users, and D'Aloisio is already working on this problem.Here's a demonstration video he made for his app:Summly Launch from Summly on Vimeo.
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The Thunder Had To Suck For Several Years To Acquire Their 'Big 3' - Business Insider
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The Thunder Acquired Its 'Big 3' The Old Fashioned Way: By Sucking For A Long Time
Cork Gaines
Jun. 13, 2012,
3:59 PM
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C. Cox/Getty Images
Both the Miami Heat (LeBron James, Dwyane Wade, Chris Bosh) and the
Oklahoma City Thunder (Kevin Durant,
James Harden, Russell Westbrook) are built around a core of three
players.
But while many are critical of the way the Heat acquired their
talent through free agency, they seem to be OK with how the
Thunder got its. That is, the Thunder was a terrible basketball
team for several years and acquired very high draft picks.
Here is a look at the Thunder's year-by-year record (in
parentheses), where they drafted, and the players drafted with
those picks...
2006-07 (31-51): #2 overall, Kevin Durant
2007-08 (20-62): #4 overall, Russell Westbrook
2008-09 (23-59): #3 overall, James Harden
And yes, the Thunder still have to make the picks, and they have
done well (they also picked up Serge Ibaka in the first round of
the 2008 draft). But it is a lot easier when a team is as bad as
the Thunder played on the court, and as lucky as they were off of
it (they only had an 18% chance of receiving one of the top 2
picks in 2007).
Sure, the Thunder way is more rewarding. But Heat fans were given
a playoff basketball team almost every season, and are just as
good as the Thunder now.
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Infusionsoft Bucks Acquisition Trend, Builds Its Own Social Features - Business Insider
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Infusionsoft Bucks Acquisition Trend, Builds Its Own Social Features
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Infusionsoft, which offers marketing automation software (including email marketing software) to 8,000+ small businesses, recently announced that it has added social features to its offering. According to the company, the new features will let its customers capture leads from social media, measure social-opt-ins, and give email recipients the ability to share newsletters and content on social media sites such as Facebook, Twitter and Google+.
According to Marc Chesley, Infusionsoft Vice President of Development and Technology, the tracking and analytics are unique features in the industry:
“Infusionsoft has a full-featured CRM that tracks all the social media activity, so our customers can segment and target their sales and marketing efforts to their lists of prospects and customers much more effectively. Compare this with the typical social media integration where you may get an activity feed of social information, but no place to store the data, or more importantly, no system to centralize, organize and take action on the leads that bubble-up from the social media activity.”
A Trend
A challenge that many businesses have with social media is that all too often your customer and prospect databases are disconnected from your followers and fans on social media — and disconnected from the conversations taking place on social media. So it’s no surprise that companies that provide CRM (customer relationship management) capabilities and marketing platforms and services such as email marketing, have been looking to add social media tools and monitoring/tracking capabilities. It’s a significant trend.
Companies providing social media tracking services and tools are sought-after acquisition targets. In the email marketing space, Vertical Response bought social media tool Roost. Constant Contact acquired Bantam Live and Nutshell Mail. ExactTarget bought Co-Tweet. Giant CRM provider Salesforce.com snapped up social-media monitoring company Radian6 last year.
We’ve even seen some acquisitions go the other way. For instance, LinkedIn, itself a social media company, acquired Connected, a CRM provider, late last year.
And those examples just scratch the surface of the acquisition activity that’s going on to integrate marketing and social media capabilities.
Infusionsoft Decides to Build
In a space where the buzzword seems to be “acquire,” Infusionsoft decided to buck the trend and build its own social media capabilities in-house, instead of acquiring them. This was a deliberate decision by Infusionsoft management, says the company, to provide exactly the right mix of capabilities that small businesses need. ”We conducted a full cycle of disciplined target user research to get clear on what benefits small businesses want from social media,” explains Chesley. “Overwhelmingly, small businesses told us that they want to use social media channels to generate hot leads for their business.”
The lines between software categories such as CRM, email marketing, social media monitoring/marketing are becoming blurrier with each day, as companies add capabilities. For instance, Infusionsoft calls its product ”marketing automation software.”
The new social features provided by Infusionsoft are part of its “winter release,” which also includes added CRM and e-commerce capabilities. The new features are in the process of being rolled out at no additional charge to existing customers of Infusionsoft.
From Small Business TrendsInfusionsoft Bucks Acquisition Trend, Builds Its Own Social Features
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Yahoo Acquires Propeld, A Small App Shop - Business Insider
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Yahoo Buys Propeld, Its Third Mobile Startup In Four Months
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Yahoo's HR boss changed his mind about leaving the company after having a dream where he was talking to Marissa Mayer
Yahoo CEO Marissa Mayer got a $6 million pay cut last year, but still got $36 million
Yahoo has just acquired Propeld, the maker of a local-recommendations app called Alike, according to Alike's website.
TechCrunch, which first reported the deal, speculates that Yahoo will use Alike's technology to pull data from Facebook, Twitter, and Foursquare to recommend nearby businesses.
We're not so sure. That's because a source on Yahoo's M&A team told us last month that the company wanted to buy—in our paraphrase—"small, failed startups with excellent teams for very little money."
So that seems like a backhanded compliment for the Propeld team. More likely, they'll go to work on other Yahoo mobile projects—a typical pattern for such acquire-hire deals.
The statement on the Alike website hints at this:
We’ve always been passionate about the growing power of intelligent mobile experiences. We believe that distilled information, deeply personalized and made accessible anytime and anywhere, is what makes mobile experiences a part of our customers’ daily lives.
In Yahoo we've found a team as excited about this vision as we are, and who are serious about making it real. We're super excited to join Yahoo's mobile team, where we can march toward that vision faster than ever.
The Alike app will shut down.
Propeld is currently based in the Seattle area. GeekWire reports that the team is relocating to Yahoo's headquarters in Sunnyvale, Calif., and its San Francisco office.
On LinkedIn, we found the following team members:
CEO Maria Zhang, a Microsoft veteran
Nan Shi, a software engineer who previously worked at Microsoft and AOL
Chang Luo, a software programmer who's also the developer of a poker-tracker app
Marty Grabijas, whose background is in sales and marketing
Since Marissa Mayer became CEO, Yahoo has made two other acquisitions, Stamped and OnTheAir—both small mobile startups.
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Bustle Digital Group Acquires Inverse, at Least 5 Staffers Laid Off
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Bustle Digital Group acquires small science and technology publication Inverse; five staffers were laid off
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2019-07-23T17:58:55Z
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Josh Topolsky.
Johsua Topolsky
Bustle Digital Group, which has recently been buying struggling digital properties, has acquired science and entertainment site Inverse.The site just laid off five staffers, according to multiple sources.Inverse will be overseen by Josh Topolsky, whose site The Outline was acquired by BDG earlier in the year. Read more stories like this on Business Insider.
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Inverse, a small digital publisher focused on science and entertainment, was acquired by Bryan Goldberg's Bustle Digital Group, according to a Digiday report and a source close to the matter.The day the purchase was reported, five staffers were laid off from the publication, including two editorial staffers who comprised the Innovation desk and three business-side employees, four current and former staffers told Business Insider. Bustle Digital Group confirmed the cuts. Back in August 2018, Inverse cut six staffers.Bustle's Josh Topolsky, who will oversee Inverse, told Digiday that he would keep "most everybody." According to a source, remaining staffers were told in an all-hands meeting that they would receive offers from BDG and that the company structure will largely remain intact. Read more: Former Bloomberg editor Josh Topolsky wants to make tech media less 'empty' with his new publication, Input
Goldberg told Business Insider of the acquisition: "Inverse has built a very large audience in a critical vertical — Technology. When we combine that with The Outline's incredible product stack and Josh Topolsky's deep experience in the category, the results are going to be impressive. This is the right combination of team, technology, and product. I'm excited to see what they do together."Inverse was founded by Dave Nemetz, who founded Bleacher Report with Goldberg and will stay on as EVP of the site, according to Digiday. Nemetz did not immediately respond to a request for comment."BDG has some big plans to expand into new areas of coverage, to move into the culture and innovation space," Nemetz told Digiday. Read more: Did Mic layoff their entire editorial staff ahead of their sale to Bustle Digital Group to break a union?Bustle Digital Group has acquired three other publications in the last year, including Topolsky's The Outline, Nylon, and Mic.
Bustle's acquisitions have been controversial or focused on struggling media companies. In November, Mic laid off nearly all the staff ahead of its acquisition by Bustle. Before some staff were rehired, staffers speculated to Business Insider that the decision may have been influenced by Mic's union. The Outline cut all of its staff writers before Topolsky announced that it would found another tech-focused publication called Input. Disclaimer: The author of this piece worked as an editor at Inverse in 2018.
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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
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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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Bleacher Report To Be Sold For $200 Million -- Report - Business Insider
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Four High School Friends May Be Celebrating Their Startup's ~ $200 Million Acquisition Today
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Bleacher Report, one of the largest sports sites on the web, has been acquired by Turner Media, AllThingsD's Peter Kafka reports.
The two have been in talks for a few months now. In April we reported that Turner looked at Bleacher Report and walked away.
In June, AllThingsD reported a $200 million acquisition between the two was likely.
AllThingsD says the deal was finished on Friday and will be announced today. A Sports Business Journal reporter, Eric Fisher, tweeted that the deal was closer to $175 million. Bloomberg reports the acquisition price is also under $200 million.
Bleacher Report was founded by four high school friends and life-long sports fans in 2006, Bryan Goldberg, Dave Finocchio, Zander Freund and Dave Nemetz. Three are still at the company in VP roles; Freund left in 2009.
But Brian Grey, Bleacher Report's CEO, is really behind this acquisition. He joined Bleacher Report from Fox Sports Interactive and was formerly GM of Yahoo! Sports. Drew Atherton is Bleacher Report's CFO and Rich Calacci is its CRO.
According to ComScore, Bleacher Report has about 9 million monthly uniques. Other sources have reported between 22 and 25 million visitors per month and 550 million pageviews.
While the traffic sounds a little low for a $200 million sale, its revenues are impressive.
A source told us Bleacher Report was on track to generate $30-40 million this year.
In addition, Turner may be looking to fill the sports void from SI.com*, Kafka points out. It recently gave up control of the property to Time Inc.
*Update: We originally wrote that Turner recently gave up control of both SI.com and PGA.com to Time Inc. Only SI.com went back to Time Inc. Turner still manages PGA.com; The PGA Tour took over its own site.
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Four High School Friends May Be Celebrating Their Startup's ~ $200 Million Acquisition Today
Four High School Friends May Be Celebrating Their Startup's ~ $200 Million Acquisition Today
It looks like the Turner/Bleacher Report deal is complete and will be announced today.
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Made in NYC | M&A | 1 | [
{
"label": "M&A",
"score": 0.9999997615814209
}
] |
Avant Gains Digital Boost With Neobank Acquisition
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Finance
Avant broadens its digital banking capabilities with challenger acquisition
Matt Gaughan
2021-04-08T13:16:32Z
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Avant's acquisition follows a familiar playbook of alt lenders pushing further into banking.
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Avant is acquiring Zero Financial and its challenger brand, Level, in a mixed cash-stock transaction, per TechCrunch. No other financial terms have been disclosed. The deal will enable Avant to offer a comprehensive suite of banking products, including deposits, personal loans, credit cards, and auto loans.
Avant broadens digital banking with challenger acquisition.
Insider Intelligence
Avant is following the lead of other alternative lenders that have tied up with banks to increase profitability or expand into new credit products. Here are two examples:LendingClub's recent acquisition significantly reduced its cost of funds. By buying Radius Bank, the alt lender reduced its borrowing costs by 90% from the previous year. Avant's savings from the Zero purchase will likely be smaller, given it will still be paying fees to a partner bank, but broadening its deposit base could still have a meaningful impact on loan profitability. And should it pursue a national banking charter, Avant would be able to drop the middleman, expanding its margins even further.SoFi's forthcoming transaction allows it to offer new lending products. The online lender's recent purchase of Golden Pacific Bancorp is already enabling it to expand its credit solutions into new areas: SoFi launched its first-ever credit card alongside the acquisition and subsequently added auto refinancing to its growing lineup. Avant can similarly broaden its repertoire based on new insights from existing Zero customers. Leveraging this data to push into areas like mortgage or auto lending could be significant profit drivers for Avant.The alt lender's AI-powered approach and focus on underserved consumers could allow it to carve out a lucrative niche in the banking space. Avant's lending solution is powered by a robust AI infrastructure that enables it to look beyond a customer's
credit score
. Acquiring Zero gives Avant a window into new factors that can strengthen its model, including data on customer cash flow, spending, and bill payment.Historically, the online lender has served middle-income borrowers, and Zero seems to be following that ethos. Other challengers within the space have a more affluent or broad focus, and could be overlooking the customers Avant is targeting. By bolstering its underwriting ability, the alt lender will be able to better serve US consumers whose credit histories have long precluded them from accessing lending products that could better their financial standing.Want to read more stories like this one? Here's how you can gain access:Join other Insider Intelligence clients who receive Banking 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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ZA | M&A | 1 | [
{
"label": "M&A",
"score": 1
}
] |
4 Reasons Amazon Should Acquire Sears
http://www.businessinsider.com/amazon-should-acquire-sears-2014-4/comments
en-us
Wed, 31 Dec 1969 19:00:00 -0500
Sun, 01 May 2016 10:28:15 -0400
Ashley Lutz
http://www.businessinsider.com/c/536abd7b6da811151a733f24
lorenzowyche
Wed, 07 May 2014 19:10:51 -0400
http://www.businessinsider.com/c/536abd7b6da811151a733f24
Bad Idea.. That's like advising Netflix to buy Blockbuster or Redbox. Hurry up and put those stores out of their misery.
http://www.businessinsider.com/c/536abd7aeab8ea2a0856cf46
lorenzowyche
Wed, 07 May 2014 19:10:50 -0400
http://www.businessinsider.com/c/536abd7aeab8ea2a0856cf46
Bad Idea.. That's like advising Netflix to buy Blockbuster or Redbox. Hurry up and put those stores out of their misery.
http://www.businessinsider.com/c/535073c06da811261a1e894c
Stevex
Thu, 17 Apr 2014 20:37:20 -0400
http://www.businessinsider.com/c/535073c06da811261a1e894c
Why would anyone buy this dying piece of dinosaur shit of a corporation? The only reason its still alive is because they obviously have a ton of cash in the bank..once that goes..its off to the scrap yard!
http://www.businessinsider.com/c/53504e376da8119e7c1e894a
TheFree_Lance
Thu, 17 Apr 2014 17:57:11 -0400
http://www.businessinsider.com/c/53504e376da8119e7c1e894a
Yeah, but my grease monkey/DIYers say that Craftsman tanked YEARS ago in terms of quality. Kenmore is nothing special and Die-Hard has nothing on Interstate, which has a billion free-standing locations of its own. Pass.
http://www.businessinsider.com/c/53504677eab8eae1425b7602
miketr
Thu, 17 Apr 2014 17:24:07 -0400
http://www.businessinsider.com/c/53504677eab8eae1425b7602
These brands could be sold off after the acq too.. and run as stand alone businesses again....
Sears still has attractive brands. Kenmore appliances, Craftsman tools, and DieHard batteries
http://www.businessinsider.com/c/5350346869bedd4a08f1c954
Larey
Thu, 17 Apr 2014 16:07:04 -0400
http://www.businessinsider.com/c/5350346869bedd4a08f1c954
No, buy BestBuy. That would be the interesting connection.
http://www.businessinsider.com/c/53503221eab8eab602f1c954
DC from Ptown
Thu, 17 Apr 2014 15:57:21 -0400
http://www.businessinsider.com/c/53503221eab8eab602f1c954
That would kill the whole tax free model they have built.
http://www.businessinsider.com/c/535030de6bb3f79b01f1c956
Miz from Long Iz
Thu, 17 Apr 2014 15:51:58 -0400
http://www.businessinsider.com/c/535030de6bb3f79b01f1c956
Wow Ashley... you ALMOST beat CNBC to the punch... <a href="http://www.cnbc.com/id/101593168" target="_blank" rel="nofollow" >http://www.cnbc.com/id/101593168</a>
http://www.businessinsider.com/c/5350306169bedd7576f1c954
Beltway Greg
Thu, 17 Apr 2014 15:49:53 -0400
http://www.businessinsider.com/c/5350306169bedd7576f1c954
All true but it would drive Amazon down below $100 bucks a share as it would be an indication that Amazon's strategy has failed. | M&A | 1 | [
{
"label": "M&A",
"score": 1
}
] |
MEDIAMATH ACQUIRES AKAMAI AD UNIT: The d
http://www.businessinsider.com/mediamath-acquires-akamai-ad-unit-the-d-2013-1/comments
en-us
Wed, 25 Nov 2015 09:24:42 -0500
Wed, 25 Nov 2015 09:24:42 -0500
Jim Edwards
http://static3.businessinsider.com/assets/images/bilogo-250x36-wide-rev.png
Business Insider
http://www.businessinsider.com | M&A | 0.999999 | [
{
"label": "M&A",
"score": 0.9999988079071045
}
] |
The Biggest Potential Retail Acquisition Targets for 2021
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Retail
9 retail brands that are prime M&A targets in 2021, according to experts
Alex Bitter
2021-01-09T16:07:01Z
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REUTERS/Carlo Allegri
This story is available exclusively to Insider subscribers.
Become an Insider and start reading now.
Coronavirus hit retailers hard in 2020, and 2021 is likely to start on a similarly grim note, even for retailers that had viable businesses before the pandemic.
With the holidays over, some of these retailers might look seriously at finding buyers who can get them through the rest of the pandemic and help chart a new course afterward.
Here are 9 retailers and brands that analysts say could be attractive targets for rivals, private equity firms or even landlords as we enter the new year.
Visit Business Insider's homepage for more stories.
2020 forced many retailers to look hard at their physical store footprint and rethink e-commerce. 2021 could be the year many specialty retailers like Gamestop and Lululemon take a look at something else: being acquired.These specialty retailers are in the middle of the spectrum of retailers. They aren't chains like Krogers and CVS that sell essentials and have boomed during the pandemic. But they also aren't facing the severe hardships of brands like JC Penney or Macy's, which suffer from undifferentiated brand identity and a lack of clear focus. "All the guys in the middle are going to go through the holiday, try to collect as much cash as possible, but then I'm sure there's conversations around one of two things," Lee Peterson, an executive vice president at WD Partners, told Insider in December. On one hand, retailers and brands could consider selling to a private equity player, likely a good play for investors but riskier for its long-term reputation, Peterson said. On the other, they could "circle the wagons a little bit and merge with other like-minded companies," he said."There are so many retailers and brands that are just hanging on by a thread and hoping that time will be on their side," said Carol Spieckerman, a retail analyst and consultant. Retailers with a strong private label selection or that offer services that rivals don't will be particularly attractive targets, Spieckerman said. Chains like Macy's, which have their own private labels but rely heavily on branded merchandise, are unlikely to draw M&A interest, she said."Are you buying a viable brand, or are you buying a place with a brand that has brands?" she said. "You could argue that Macy's still somewhat enjoys its own brand identity, but increasingly, it's not particularly differentiated." Retailers with recognizable brands but a string of poor recent results due to the pandemic are likely to make the best targets in 2021, said Bahige El-Rayes, a partner at Kearney's consumer and retail practice. "If everything is devalued anyway, you're not going to go for something that is distressed," he said.Business Insider asked retail analysts and experts which retailers and brands they think might be ripe for deals in 2021. Here are 9 companies they pointed to:
Lululemon
Mike Blake/Reuters
Lululemon has benefited from demand for workout and casual wear during the pandemic, and its most recent earnings show it: Sales were up 22% for the quarter ended November 1. But having so many stores in malls increasingly represents a liability for the brand, Peterson said, especially with mall anchors at risk of bankruptcy or closing stores. A buyer like VF Corporation, which already makes products under the labels like Vans, North Face, and Timberland, could give Lululemon additional cash and resources to expand its e-commerce business and find new places to sell."If you're Lululemon, you're saying 'Oh, maybe I don't want to have so much presence at the mall going forward,'" he said.
Abercrombie & Fitch
Signage is seen at the Abercrombie & Fitch store on Fifth Avenue in Manhattan
Reuters
Analysts have been pointing to Abercrombie & Fitch as a potential deal target since before the pandemic, saying that it could give rivals like American Eagle Outfitters or even Amazon some brands popular with young adults as well as a wide sourcing network.Now, Abercrombie might have more of a reason to sell as mall anchor stores like Macy's appear to be on increasingly unstable footing, Peterson said. Many have to answer the question: "When all the anchors go, what's this [place] going to be?"That could spur consolidation with another apparel retailer or even a deal with a private equity buyer with a reputation for turning around retailers, he added.Sales at Abercrombie fell 5% for the third quarter.
REUTERS/Carlo Allegri
Gap has picked up the pace of store closures during the pandemic. While it started the year planning to shutter 225 locations between its Gap and Banana Republic banners, it added another 350 to the list in October.But the chain's group of brands, which also includes Old Navy, aren't necessarily irrelevant to consumers and could be appealing to a buyer who could work with a smaller store base and do more online, Spieckerman said."A brand like Gap would offer portfolio and platform to any acquirer," she added.
GameStop
The GameStop store sign is seen at its shop in Westminster, Colorado.
REUTERS/Rick Wilking
Video game sales have shifted online over the last decade, with
streaming
and digital downloads capturing an increasing share of the market.GameStop, meanwhile, still relies on physical stores for a majority of its revenue. Net sales were down more than 30% during GameStop's most recent quarter, which ended in October.Yet the company has made some moves into the digital realm, including an agreement with Microsoft that gives the chain a portion of every game purchase made on all Xbox consoles GameStop sells. E-commerce sales have also grown to nearly one-fifth of total revenue.While some analysts have cautioned that GameStop risks going the way of Blockbuster if it doesn't find its place online soon enough, Spieckerman said that the brand could have value for a larger retailer."Right now, GameStop is still a viable brand in the gaming space," Spieckerman said. "You could do something with that brand."
The Children's Place
The Children's Place.
Roberto Machado Noa/LightRocket via Getty Images
Back-to-school time has traditionally been a key selling season for The Children's Place. In 2020, as more kids attended school online, fewer parents needed to buy fresh outfits, leading to sales 19% lower for the quarter ending in October.As a retailer focused narrowly on clothing for young children, the company appeals to a specific group of consumers, Spieckerman said. That makes it potentially a good fit for a buyer-focused on turnarounds, such as Retail Ecommerce Ventures, whose current portfolio includes off-price chain Stein Mart, apparel retailer Dressbarn and Modell's Sporting Goods."I don't see any reason why The Children's Place or some of these much more specialized players wouldn't be good targets for them, because that seems to be their strategy," she said.
Capri Holdings
The logo of Michael Kors is seen on an outlet store in Metzingen
Reuters
Michael Kors, Versace, and Jimmy Choo have struggled in recent months as in-person shopping and international travel has dried up. They also have another trait in common: All are owned by London-based Capri Holdings. Capri took its current form in 2018 when Michael Kors bought Italian label Versace and consolidated operations under the Capri name. Before that, Michael Kors acquired Jimmy Choo in 2017. While Chinese consumers, a key group for many luxury brands, have kept buying handbags, clothes, and other luxury goods in China during the pandemic, that hasn't made up entirely for lost sales as far fewer take vacations in Europe or the Americas."An acquisition of one of those portfolio companies would yield access to multiple brands," Spieckerman said. "It's going to be interesting to see if some of those companies, particularly in the apparel space become acquisition targets for companies that want to get instant diversification."
Ulta
Don & Melinda Crawford/Education Images/Universal Images Group via Getty Images
"I think Amazon has always been interested in Kohl's and, subsequently, Ulta, because they have physical spaces that are not in malls," Peterson told Business Insider.Ulta's store network includes both locations near traditional malls as well as stores in strip centers, which have done better in recent years.That diversification could be appealing to acquirers looking for a store footprint outside of shopping centers, though often still close to them. And Ulta is no stranger to working with other retailers: It recently agreed to open 100 beauty shops within Target stores in 2021. Sales at Ulta fell nearly 8% during the company's third quarter.
Rite Aid
MIKE BLAKE/Reuters
Health and wellness have long been areas where retailers are trying to do more, but the pandemic has made them even more important. Rite Aid has done relatively well during the pandemic: Revenue was up nearly 12% for the lasted quarter ended in August as more consumers turned to its stores, which occupy a wider range of locations than most retailers, from shopping centers to residential areas.The company could be especially open to being bought given its history. In 2015, Walgreens announced a plan to acquire the rival drug store chain in its entirety. Over the following two years, though, regulatory concerns forced the companies to scale back their ambitions, and Walgreens ended up acquiring a fraction of Rite Aid's network.The result is a smaller Rite Aid that could be easier for a big box retailer to justify buying, especially at a time when wellness is getting a lot of attention. "Everybody's trying to get a piece of the action and stretch into it," Spieckerman said of the category.
Macy's
Macy's.
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In 2020, Macy's made thousands of layoffs, and its most quarterly same-store sales declined 20% as many shoppers were reluctant to come back to stores. A private equity deal could be in the cards for 2021, Peterson said, if a landlord doesn't come to the rescue as in the case of JC Penney earlier this year."The private equity hawks are going to swoop in and try to buy as much of this stuff as possible over the course of the next year," he said.
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{
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Data and AI Startup Databricks to Acquire Data Security Startup Okera
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Exclusive: $38 billion data and AI darling Databricks acquires security startup Okera
Stephanie Palazzolo
2023-05-03T14:55:00Z
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Databricks cofounder and CEO Ali Ghodsi and Okera cofounder and CEO Nong Li.
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Data and AI company Databricks is acquiring data security startup Okera.
Recently, customers have increasingly asked about data security when creating custom AI models.
Databricks' CEO shared why Okera ticked off his boxes after spending months "kissing many frogs."
In 2015 and 2016, software engineer Nong Li spent a number of months at data and AI startup Databricks. There, he served as the main engineer behind the company's much-awaited release of its big data analytics engine Apache Spark 2.0, improving the product's performance by a factor of 10 while he was there, Databricks cofounder and CEO Ali Ghodsi told Insider. Although his time at the company was relatively short, his outsized impact is what kept Li and Databricks execs in contact over the years, even as Li went on to found his data security startup Okera, which shared many customers with Databricks, Ghodsi said.Now, Li's journey has come full circle, as Okera is being acquired by Databricks.Although Databricks didn't disclose the terms of the acquisition, CEO Ali Ghodsi joked that the deal became more expensive after November last year, when AI entered the mainstream and became a priority for many companies.Around this time, a number of customers began asking Databricks about how to safely integrate large language models, or LLMs, internally and into their products, and how to maintain data privacy, security, and governance when training LLMs on their private data, Ghodsi said.For instance, a health-tech company may want to release a product that can quickly summarize electronic medical records without accidentally disclosing sensitive patient data. In an internal use case, another company may want to train an AI chatbot on HR-related questions past employees have asked, but wouldn't want the chatbot to mistakenly reference a past employee by name when answering similar questions for employees in the future. Okera solves these issues by using AI to automatically filter out sensitive data before it even makes it to the model-training stage, Ghodsi told Insider.With only four publicly-announced past acquisitions, according to Crunchbase, Databricks isn't necessarily an M&A-heavy company — not for lack of trying, as Ghodsi joked that they're "kissing many frogs" while searching for partners. However, Okera was a rare acquisition target that checked off Databricks' M&A checklist, with a unique application of AI in security and privacy, strong interest from Databricks' own customers, and a stellar team, he said.In the past, Databricks has scooped up smaller startups like DataJoy, Cortex Labs, 8080 Labs, and Redash to improve its data analytics tooling and machine learning capabilities. It's funded these deals with a hefty coffer — to date, the company has raised $3.5 billion, with its 2021 Series H investment landing it an eye-boggling $38 billion valuation.Okera will be a larger transaction for the acquirer. It's raised nearly $40 million from VCs like Bessemer Venture Partners and Felicis Ventures and was valued at $100 million as of its latest 2021 round, according to PitchBook.Databricks plans to integrate Okera deeply in the company, specifically as part of its data and AI governance offering, Unity Catalog, Ghodsi said. Today, Unity Catalog is Databricks' number one priority as it looks to build the end-to-end platform for data, analytics, and AI, Ghodsi said. Okera offers not only impressive governance capabilities here, but also integrations into other systems and data platforms that Databricks currently doesn't have, he added.In addition to privacy and security, data quality is another area that Databricks is looking to be potentially acquisitive in, Ghodsi told Insider. The transaction has been a rare bright spot in a year that has otherwise been devoid of dealmaking. A weak macroeconomic environment and looming bank crises pushed global deal value during the first quarter of 2023 down 32% from the peak just over a year ago, according to PitchBook.But for Databricks and Ghodsi, the rising importance of security, governance, and privacy as the "other side of the coin" to data and AI meant that there was no time to waste for this deal."If you try to bolt this on later on, like bolt on the security solutions on top of the existing platform, there's always going to be small gaps where leakage can happen or security holes can appear," Ghodsi said. "So designing them together is really, really key."
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16 Companies Snowflake Could Buy to Stay Ahead of Databricks
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16 companies $67 billion Snowflake could buy to stay ahead of rival Databricks and fill its machine learning and big data gaps
Matthew Lynley
2022-04-15T11:00:00Z
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Frank Slootman, Snowflake CEO.
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Snowflake spent $800 million on acquiring a machine-learning platform with little revenue, Streamlit.
As rival Databricks quickly encroaches, Snowflake might need to look at other acquisitions to grow.
Here are 16 companies that experts say Snowflake could buy to keep it ahead.
Snowflake was a pandemic darling and had one of the largest software initial public offerings in history.But it isn't the only company looking to build a better experience managing massive amounts of data.Snowflake's advantage comes from its approach to building a straightforward experience for storing and accessing data compared to competitors like Amazon's Redshift. But Databricks is quickly emerging as a rival, now worth $38 billion, and it's moving further into Snowflake's backyard.That means $67 billion Snowflake's relentless focus on making the best data-warehousing tool may be a liability rather than an advantage. It finds itself quickly needing to move into areas it has traditionally ignored, like natively supporting the tools of choice for data scientists.Snowflake originally started with supporting tools to present data to non-data specialists. But recently the platform has expanded to support broader-use cases, including data science, data engineering, and other forms of analytics, Noel Yuhanna, a Forrester vice president and principal analyst, said. "We find that organizations don't want 10 different platforms to support various initiatives but an integrated data platform that can support multiple use cases across multiple personas," he said.So Snowflake is now playing defense, and it has to look to new areas for growth. One option for growth could be to acquire new companies. Snowflake announced that it would acquire Streamlit, a startup with practically no revenue, for $800 million in March — and its acquisition spree might not be over.To find out which companies could be a target of Snowflake's next acquisition, Insider asked analysts which buys could give it a leg up against Databricks. Company valuations listed are according to most recent public announcements.Here are 16 companies industry insiders and analysts said could fill Snowflake's gaps in machine learning and big data, listed from least to most valuable where valuations are known:
Jetbrains
SQL is the main interface for Snowflake.
VectorBird/Getty Images
One of Snowflake's more complicated challenges is what users see in front of them every day: its user interface, or how people interact with the software.The traditional Snowflake experience is bare-bones by developer standards, who are used to many quality-of-life elements like auto-complete and searchability. While Snowflake is easier to log in to and work in than Redshift, it does so at the cost of flexibility.That's where an acquisition like data startup Jetbrains can help. Jetbrains offers multiple products for data enthusiasts, like DataGrip, which hooks directly into databases like Redshift and Snowflake to add those quality-of-life elements. Jetbrains also builds PyCharm, a popular Python interface among data scientists and analysts that often use Snowflake. It also has a tool for automated data analysis and machine learning called Datalore.Those advanced uses become more valuable as companies collect more data.
Hugging Face
Hugging face has quickly become a top community for machine-learning experts.
Maskot/Getty Images
Hugging Face is the GitHub of data science — a platform for data scientists at all levels to collaborate. It hosts data sets and extensive documentation of machine-learning tools like Google's analysis tool BERT.It also hosts many data sets that data scientists can use to either experiment or refine their existing models. And machine-learning practitioners — both novices and experts — can give each model a try to see how it works.Acquiring Hugging Face could help Snowflake double-down on data science and get a community of data scientists along with it. Facebook, Amazon Web Services, Google, Microsoft, and several other large companies are already Hugging Face users.Hugging Face has raised more than $60 million from investors like Lux Capital at an undisclosed valuation.
Astronomer
Astronomer sets the order in which a company gathers its data.
Astronomer
A company has to determine how to collect data before it begins cleaning it and making it usable. To do that, many companies use Airflow, an open-source tool built initially by Airbnb and now managed by Apache, to help with that.One of the most prominent startups assisting companies in implementing Airflow is Astronomer.Astronomer helps companies decide what data gets collected from where, at what time, and in what order it enters a company's database. Astronomer and other so-called orchestration tools are often used in tandem with data-management tools like dbt to create a channel that organizes data in the most helpful way for data analysts and scientists.Snowflake relies on outside tools for getting data into its warehouse, like dbt and Airflow. Snowflake could get an edge by taking over Airflow through acquiring Astronomer as Databricks launches tools that fit into that space.Astronomer has raised $282.9 million. Its investors include Salesforce, JP Morgan, FirstMark, and Venrock.
Weights & Biases
Weights and Biases tracks any ongoing machine learning models to see how successful and accurate they are.
Weights & Biases
Databricks has a tool called AutoML that allows its users to automatically compare results of multiple machine learning models. But Snowflake relies on external artificial intelligence tools like DataRobot or H2O Driverless AI to do the same thing.Automated decision-making, or comparing machine learning options simultaneously to find the most accurate prediction, integrated onto the Snowflake platform offers another opportunity to keep users in-house.Experiment-tracking firm Weights and Biases offers those automated decision-making capabilities that Snowflake could add to its machine learning capabilities. Adding those incremental steps to grow its market opportunity may be where the company finds the most value, Daniel Newman, the principal analyst at Futurum Research, said."My gut points to extensibility and net revenue expansion through service diversification," he said.Weights and Biases raised $200 million from investors, including Felicis Ventures, Insight Partners, Coatue, and Bloomberg Beta.
Hex
Hex gives data scientists a way to collaborate on larger projects.
Hex Technologies
Hex is a tool that helps data scientists collaborate on projects. Rather than constantly sharing files, the data team can go into a shared notebook on Hex's platform and quickly pick up where others have left off.Collaboration and data sharing give Hex another piece of the stack between the analysis and the presentation to an executive team. If acquired, it would add another spot to Snowflake's stack so analysts and data scientists can stay within its ecosystem rather than having to rely on outside tools, which Databricks may also support.Hex is also a case of a co-investment from both Snowflake and Databricks. Hex has raised $73.5 million from investors including Redpoint, Andreessen-Horowitz, and Amplify. The company most recently raised a $52 million Series B round at an undisclosed valuation in March.
Tecton
Feature stores help save time and money for machine-learning experts.
Tecton
Machine-learning models predict values using various data inputs, known as features. Rather than inquiring into specific features repeatedly when building a model, Tecton saves all those inputs in what it calls a feature store.A tool like Tecton can help reduce the overall workload for both analysts and the actual data warehouse, saving time and money. Companies don't have to pay to rebuild the same data sets, while analysts can focus their time on other work.Companies already keep troves of usage data on Snowflake to train their machine-learning models. Acquiring Tecton could give Snowflake ownership of another machine-learning-model production pipeline. And finding a way to optimize that could give customers additional ways to lower their cloud bills.Tecton has raised $60 million at an undisclosed valuation from Sequoia, Andreessen-Horowitz, Lux Capital, and SV Angel. The company last raised $35 million in December 2020.
Anaconda
Anaconda is a go-to tool for data-science tools across a variety of industries.
Anaconda
Snowflake recently began supporting programming language Python in its developer environment Snowpark. Python is the language of choice for data science, with most work passing through it at some point. Snowflake's support of Python is due to a partnership with data startup Anaconda, one of the most-used data-analysis tools used by experts in machine learning.Anaconda supports Python, R, and Jupyter, some of the most-used tools in the data analysis community. It also has a commercial arm, which could give Snowflake an immediate opportunity to monetize and find ways to integrate more robust support for Python and R.But given its existing partnership, it might not make sense for Snowflake to acquire Anaconda. While it could help to bring those tools under Snowflake's umbrella and optimize it for Snowflake's data warehouse, it already has direct access through that partnership."I really think it's more about accommodating the language of data science," Daniel Newman, principal analyst at Futurum Research, told Insider.Anaconda has raised $83 million total from investors like General Catalyst and In-Q-Tel.
Timescale: $1 billion valuation
Timescale optimizes a SQL database for time-series analysis.
Timescale
Reviewing events or data in the order they occur, called a time series, is one of the most common problems analysts face when building models that inform business decisions. Examples include tracking how a stock price changes over time or how a customer behaves over their lifetime. Snowflake's one-size-fits-all approach to analytics doesn't necessarily optimize for time-series analysis. But given how sizable the market is, several startups do. There may be a substantial market opportunity for Snowflake to either build a product or acquire one of those startups.One example is Timescale, which is now worth $1 billion. Timescale builds database tools for time-series analysis.According to the company, Apple, Microsoft, and Tesla all use Timescale. Timescale includes investors like Redpoint Ventures and Benchmark Capital.
Alation: $1.2 billion valuation
Alation is a search engine for a company's internal data sets.
Alation
Alation is a search engine for a company's internal data. It collects all data into a single, searchable platform accessible to general employees rather than just analysts.For example, an employee can search for specific data-related information, ranging from sales information to policies around personally identifiable information.Alation would make it unnecessary to add another tool or summon an analyst to search for the correct data on Snowflake's platform. Alation has raised $192 million from Riverwood Capital, Salesforce, Dell, Sapphire Ventures, Icon Ventures, and Bloomberg Beta. Snowflake is also an investor in Alation.The company most recently raised $110 million at a $1.2 billion valuation in June 2021. CEO Satyen Sangani told Bloomberg at the time that it had "well over $50 million in revenue."
Grafana Labs: $3 billion valuation
Companies use Grafana to see where processes in their data analysis are failing.
Grafana Labs
Grafana is an open-source visualization tool, or a platform that takes insights from an existing data source like Snowflake and makes it easier to understand. Companies often use it to monitor products' operations, such as whether a specific part of a website is failing to load.Buying Grafana Labs could give Snowflake a tool in what's referred to as the observability space, rather than relying on a third party. It could provide Snowflake users a way to quickly monitor any applications that are pulling in data from Snowflake, such as machine-learning models.And Grafana already has users like Salesforce and Roblox, according to the company home page.Grafana Labs has raised $535 million from investors, including Sequoia, Lightspeed, JP Morgan, and Coatue. The company most recently raised a $240 million Series D round but did not disclose its valuation. The valuation from its prior round was $3 billion.
ThoughtSpot: $4.2 billion valuation
ThoughtSpot could give Snowflake a more powerful search engine on top of its data warehouse.
ThoughtSpot
ThoughtSpot offers companies another way to index and search data internally, including managing complex insights.Users can enter generic searches, like number of clients, to find internal data. ThoughtSpot then searches for that data internally, including any analysis and visualizations, while keeping the complex programming under the hood. A search like revenue from clients buying cars could spit out a visualization that automatically groups customers by type.ThoughtSpot could give Snowflake a more powerful search engine on top of its data warehouse, which could make data much more accessible to less-advanced users. Rather than making customers integrate another outside tool, it could integrate that search directly into its user interface and reduce the additional need for a dashboard like Looker.ThoughtSpot most recently raised $100 million in a round that valued the company at $4.2 billion in November 2021. Snowflake, Khosla Ventures, General Catalyst, Lightspeed Ventures, and Fidelity are investors in the company.
dbt Labs: $4.2 billion valuation
dbt is a product for data processing and cleaning.
dbt Labs
Data engineers use dbt Labs to pipe in existing messy data and organize it into something easier to convert into a dashboard like Looker or Tableau.As a result, the dashboards are much easier to maintain, load faster, and are less of a headache for the analytics and data-engineering teams. Many Snowflake and Databricks users are already dbt users.While Databricks now has a similar product called Delta Live Tables, acquiring dbt could give Snowflake an opportunity to focus it on data warehousing.Snowflake is already an investor in dbt and works closely with the company, as many of its customers use the product.dbt Labs most recently raised $222 million at a $4.2 billion valuation, part of which came from Snowflake. Databricks Ventures, Andreessen Horowitz, and Sequoia Capital are investors in dbt.
Dataiku: $4.6 billion valuation
Dataiku offers a more general machine learning platform.
Dataiku
Dataiku automatically collects and analyzes various data sources to produce insights or dashboards. An analyst or data scientist can quickly combine data from disparate parts of a database and derive insights without going through more advanced programming. Dataiku could give Snowflake an answer to Databricks' AutoML, which automatically runs a variety of machine-learning analyses and picks the most accurate model.Snowflake could gain a platform that enables less-technical users to review data, removing additional work for analysts and data scientists.Snowflake also invested in Dataiku's most recent round. Dataiku has raised $646 million from investors including ICONIQ, FirstMark, Tiger Global, and Insight partners. The most recent $400 million Series E round valued it at $4.6 billion.
Collibra: $5.25 billion valuation
Collibra focuses on making sure that data management meets privacy requirements.
Collibra
Collibra, like Alation, offers a catalog of a company's data. Collibra in particular focuses on making sure that data management meets privacy requirements. Collibra users can see exactly what data is used in what reports, and where it comes from.Part of Snowflake's move into programming language Python was centered around governance and privacy. That's a big requirement for larger companies.Collibra could give Snowflake a directly integrated tool for searching and managing data in ways that satisfy privacy requirements, rather than expect customers to rely on outside tools.Collibra most recently raised $250 million in November 2021 at a $5.25 billion valuation. Its investors include Battery Ventures, Sofina, Google's CapitalG, ICONIQ, Sequoia, Tiger Global, and Index Ventures.
Fivetran: $5.6 billion valuation
Fivetran gives companies a way to connect and organize their data sources.
Fivetran
Companies often gather data from dozens of data sources, not just a few. For example, companies may collect revenue, sales, and user data from several niche management platforms. Then all that data ends up in Snowflake. But rather than connecting the data sources to Snowflake one by one, Fivetran builds those connections automatically to bring the data together in one spot. Fivetran is also often used in conjunction with tools like dbt and Astronomer to collect millions of data points without mess. Through an acquisition, Snowflake could optimize Fivetran to gather data in a way that works best with its data warehouse and give it an added service to customers.Fivetran currently has a valuation of $5.6 billion and has raised $727.1 million. Its investors include Andreessen-Horowitz, General Catalyst, Y Combinator, and ICONIQ Capital.
DataRobot: $6.3 billion valuation
DataRobot automatically builds machine-learning models.
Datarobot
DataRobot produces insights from large data sets by automatically building machine-learning models.A DataRobot user can then choose what they would like to predict based on that data, such as what a home will sell for based on some of its characteristics. DataRobot automatically selects the machine-learning model needed to make that prediction.DataRobot also offers several other data-processing tools, such as ways to prepare for analysis.Acquiring DataRobot could give Snowflake an answer to Databricks' AutoML, a tool that automatically compares results of multiple machine-learning models. Snowflake customers could gain a way to automatically produce machine-learning models based on their data in Snowflake's data storage. Snowflake invested in DataRobot's most recent round. DataRobot has raised a total of $1 billion from investors, including Altimeter, Sutter Hill Ventures, Salesforce, HPE, and Tiger Global. The most recent $300 million round valued it at $6.3 billion.
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Ikea Acquires TaskRabbit
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Ikea has acquired TaskRabbit — and it could fix the most annoying thing about the furniture giant
Kate Taylor
2017-09-28T18:33:00Z
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Assembling Ikea furniture is traditionally one of the most annoying parts of shopping at the retailer.
Stephen Chernin/Getty Images
Ikea is buying a startup that could fix the most annoying thing about the iconic furniture company. The home-goods giant has signed an agreement to acquire TaskRabbit, Ikea announced on Thursday.
TaskRabbit is a "gig economy"-style startup founded in 2008. The company lets users hire temporary workers to deliver purchases, clean homes, and even assemble furniture. Ikea said that once the acquisition is complete, the home-goods store will be able to provide customers with access to TaskRabbit "Taskers." "In a fast changing retail environment, we continuously strive to develop new and improved products and services to make our customers' lives a little bit easier," Jesper Brodin, the president and CEO of Ikea Group, said in a statement. "Entering the on-demand, sharing economy enables us to support that."Ikea already has an official partnership with TaskRabbit in the UK. The program offers fixed pricing for Ikea customers seeking someone to assemble furniture purchased from Ikea — a famously tricky task.
TaskRabbit already advertises furniture pick-up, delivery and assembly services. In New York City, "Ikea Assembly" is a specific task that customers can select from a list of available options, which include things such as waiting in line and yard work. "The purchase of TaskRabbit was fueled by Ikea's need to bolster its digital customer service capabilities to better compete with rivals likes Amazon, which has stepped up its home goods and installation offerings," Recode reported before the deal had been officially announced. "The purchase is Ikea’s first step into the on-demand platform space."Recode could not determine how much Ikea reportedly paid for TaskRabbit, which has raised roughly $50 million since it was founded in 2008. Ikea did not disclose the acquisition price when Business Insider requested comment.
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What Dennis Crowley Was Thinking When He Walked Away From A ~ $125 Million Foursquare Acquisition Offer
Alyson Shontell
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Dennis Crowley via TeendramaCrowley and his Dodgeball cofounder Alex Rainert, the day they announced the Google acquisition.Two years ago, Dennis Crowley had a tough choice to make.
The entrepreneur who cofounded Foursquare was being offered $125 million for his company -- or so several reports say.
Crowley wasn't wealthy. His first startup, Dodgeball, had been acquired by Google, but not for a hefty amount. Prior to Dodgeball Crowley was a student and a snowboarding instructor.
Still, Crowley walked away.
We called Crowley a few weeks ago for an extensive interview about his career. We asked him: "How did you walk away from Facebook and other companies that offered you millions for Foursquare?"
He said Foursquare never commented on any of those rumors, but he did tell us this:
"We talked to a couple different companies about acquisitions -- it comes up anytime you do a fundraising."
Crowley is referring to the $20 million he raised in June 2010 for Foursquare.
"Of course it's a tough decision because you're trying to figure out what's the best thing to do for your company. Your company is your baby at that point…You have to make a call and weigh the pros and cons. If we bring in someone else, are they going to help us build our vision? Or does that mean some of the roadmap gets chopped off because it has to fit into someone else's roadmap?"
Crowley may not have been able to walk away from the $125 million offer without his Google/Dodgeball acquisition experience. Google stifled and ultimately shut down Crowley's product.
"Going through that makes us want to hold onto this company a little longer and make sure we're actually able to build and execute all the things we want to do while maintaining control over all of it," says Crowley.
Crowley says his team is just starting to scratch the surface of what Foursquare can be.
To read the exclusive interview with Crowley, click here.
For more about Dennis' career in pictures, click here.
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What Dennis Crowley Was Thinking When He Walked Away From A ~ $125 Million Foursquare Acquisition Offer
What Dennis Crowley Was Thinking When He Walked Away From A ~ $125 Million Foursquare Acquisition Offer
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Zynga Acquires Mobile Games Studio Astro Ape
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Zynga Acquires Mobile Games Studio Astro Ape
Alyson Shontell
2011-08-16T16:30:00Z
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We received a tip today about some suspicious LinkedIn activity.Employees at NYC mobile games studio, Astro Ape, are changing their places of employment to Zynga on the professional network.
Chieh Huang, Astro Ape's CEO, has switched his profile information. A number of other employees, including Astro Ape's director of engineering, software engineers and graphic artists have done the same.It's pretty safe to assume that Zynga has acquired Astro Ape.In April, the year-old startup was bragging that it was better than Zynga. It looks like Zynga took notice.We're reaching out to Zynga for a comment and will give you an update once we hear back.
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Podcast Acquisitions to Watch: 2020
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The podcast market is booming. Here are 5 audio firms that could be acquired next and who might buy them.
Lauren Johnson
2020-12-03T15:03:55Z
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Daniel Ek, CEO of Spotify.
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This story is available exclusively to Insider subscribers.
Become an Insider and start reading now.
Spotify has been snapping up podcasts while reports swirl about Amazon eyeing podcast content company Wondery, the podcast giant behind shows like "Dirty John."
Business Insider asked industry experts which podcast companies could be acquired next.
They named companies like podcast giant Wondery and monetization platform Headgum as examples of audio companies that could be acquisition targets (without suggesting these companies are actually in talks).
Visit Business Insider's homepage for more stories.
Media companies are chasing the podcasting market.Spotify has been snapping up podcasts while reports swirl about Amazon eyeing podcast content company Wondery, the podcast giant behind shows like "Dirty John."And with the Interactive Advertising Bureau estimating the podcast ad market will hit $1 billion this year, others are looking at companies to help boost their podcast advertising. These include firms that plug ads into podcasts and make original content that they can sell to media companies and advertisers.Podcasting has reached a critical mass with listeners, and the advertising is starting to catch up, said Jonathan Keith, founder and CEO of creative agency Feelr Media, which makes branded podcasts for brands like Microsoft. "With dynamic ad insertion and programmatic, they're going to have real metrics and it's been a very hot area."Spotify in particular has been an aggressive acquirer, just agreeing to buy podcast advertising firm Megaphone for $235 million, and Joe Rogan's popular podcast. Spotify also owns Gimlet Media and Anchor. IHeartMedia recently entered an agreement to buy Voxnest, a podcast analytics and programmatic advertising firm, and satellite radio company SiriusXM bought podcast company Stitcher for $325 million in July.Nick Quah, who writes podcast email newsletter Hot Pod and critiques podcasts for New York Magazine, said that it will be hard for any company to beat Spotify's podcast acquisition spree.But Apple, Google, and Amazon are also likely podcast acquirers because they're betting on making audio content more mainstream and baking podcasts straight into smart speakers and devices, said Eric Franchi, operating partner of MathCapital, a venture capital fund that invests in advertising and
marketing companies
.Business Insider spoke with a handful of experts about what other podcast companies could be hot acquisitions, and they listed five. (To be clear, they did not suggest any are actually in talks.)
Headgum
Nicole Byer
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Total funding: $2 millionWhat it does: 5-year-old Headgum helps creators and publishers monetize podcast shows. The company's network of shows includes "Gilmore Guys," "Dead Eyes," and Nicole Byer's "Why Won't You Date Me?" Headgum also runs a production arm that makes original podcasts.Headgum wants to change how podcast ads are bought and sold and could be interesting to a media company looking to rev up podcast ad sales.Last year, the company launched a marketplace called Gumball to help advertisers like Casper and HelloFresh discover lesser-known shows and work directly with podcast talent. Creators use the platform to book sponsorships and get paid faster than working through a middleman sales firm.Headgum raised its first round of funding in July of $2 million led by Union Square Ventures.A spokesperson for Headgum did not respond to a request for comment by deadline.
Magellan AI
Stokkete/Shutterstock
Total funding: Not disclosedWhat it does: Magellan AI sells software that tracks if podcast ads, which are often read out loud by hosts to fit into content, actually run. The firm also works with podcast publishers like Barstool Sports, The New York Times, and WNYC to provide software that media companies use to estimate ad spending on podcast advertising and which shows the ads run in.Unlike other types of digital advertising like video and social media, there is less measurement and tracking with podcast ads for both publishers and advertisers."There is definitely a space for that," Quah said."Any company that has the kind of customer base and offering that we do is certainly fielding inquiries," Cameron Hendrix, cofounder of Magellan AI, said. "But like the acquisitive companies in the space, we think there's a huge opportunity here, and we've got lots of work to do as podcast advertising surpasses $1 billion in 2021."
Qcode
Demi Moore
Victor Boyko/Getty Images
Total funding: $6.4 millionWhat it does: 1-year-old Qcode is a content studio and network that produces scripted fiction stories including adaptations of TV shows and films. Qcode heavily plays up Hollywood talent as the force behind its programs — like "Dirty Diana" that's produced by Demi Moore; and "Hank the Cowdog," written and directed by Jeff Nichols and starring Matthew McConaughey.The market for audio versions of quality scripts is big and could be attractive to a media company that has existing film and TV intellectual property."This is very viable and there are a lot of scripts that will work in audio-only," said Feelr Media's Keith. "You've seen a lot more savvy producers developing audio shows that would have been a visual show."The company didn't respond to a request for comment.
SpokenLayer
Andy Lipset, CEO of SpokenLayer
SpokenLayer
Total funding: $6.8 millionWhat it does: 8-year-old SpokenLayer produces, distributes, and monetizes short-form content. Publishers like Tribune and McClatchy use SpokenLayer's tools to produce and distribute voice apps across Amazon's Alexa,
Google Assistant
, and Spotify. It's backed by investors including Beasley Media Group and Guardian Media Group Ventures. One of SpokenLayer's competitors, Audm, was acquired by The New York Times earlier this year to turn long-form content into audio, suggesting that another media company could be an acquirer for SpokenLayer."As you would expect, there are many conversations happening between SpokenLayer and other parties, because we have established ourselves as the leader in creating narratives in short form, digital audio," said Andy Lipset, CEO of SpokenLayer. "In the meantime, we continue to focus on executing on behalf of our publishers and brands, and as listenership to spoken word audio continues to explode, the demand for SpokenLayer's services continues to escalate."
Wondery
Wondery
Total funding: $15 millionWhat it does: Wondery is among a small number of independent podcast content companies. Founded in 2016 by former Fox executive Hernan Lopez, it's backed by VC firms including Greycroft and Lerer Hippeau Ventures.Wondery is a content juggernaut that stands out as production companies like Gimlet Media have been acquired by Spotify. Wondery makes money through advertising and a subscription product that costs $4.99 per month or $34.99 per year. Wondery's shows include "Dirty John" and "Business Wars" and the company also has a deal with Universal Music to develop original shows."The argument can be made that they have consistent revenue and reach," said Quah.Wondery declined to comment on acquisition rumors.
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Betaworks Made ~$50 Million On Two Twitter Acquisitions, Summize And Tweetdeck - Business Insider
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Betaworks Made ~$50 Million On Two Twitter Acquisitions, Summize And Tweetdeck
Alyson Shontell
Jun. 21, 2013, 11:15 AM
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John Borthwick, BetaworksBetaworks is a New York company that produces other companies. It rounds up hackers, designers and founders and tests multiple startup ideas at once, such as hot iPhone game Dots and a GIF search engine.
But Betaworks is not a venture capital fund. So how does it have the money to produce big hits? Recently, a few acquisitions have helped fuel it.
According to Ben Popper at the Verge, two startups Betaworks was involved in, Summize and Tweetdeck, yielded Betaworks $50 million in cash and stock. Summize was acquired for $15 million by Twitter in 2008; Tweetdeck for $40 million in 2011.
In 2008, Twitter was worth about $150 million. Now it's worth multiple billions.
Betaworks also made a good chunk of change with its investments in Groupon, OMGPOP (which was acquired by Zynga) and Tumblr.
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Betaworks Made ~$50 Million On Two Twitter Acquisitions, Summize And Tweetdeck
Betaworks Made ~$50 Million On Two Twitter Acquisitions, Summize And Tweetdeck
If you've ever wondered how Betaworks can afford to launch all these startups, those exits helped a lot.
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Google's London AI powerhouse has set up a new healthcare division and acquired a medical app called Hark
Sam Shead
Feb. 25, 2016,
5:24 AM
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Google DeepMindGoogle DeepMind, the search giant's artificial intelligence company in London, has officially announced its first big push into medical technology.
The research-intensive startup launched a new division called DeepMind Health and acquired a university spinout company with a healthcare app called Hark.
It has also built an app with the NHS called "Streams."
DeepMind Health, announced on the DeepMind website on Wednesday, will be led by Mustafa Suleyman, cofounder and head of applied AI at Google DeepMind. He will oversee a team of approximately 15 people, according to Bloomberg, aiming to develop digital tools that improve patient care.
So far, DeepMind has built a series of generic self-learning algorithms that can outperform humans on arcade games like "Space Invaders" and "Pong." In March 2016, DeepMind is pitting its AlphaGo algorithm against the world champion of Chinese board game Go, which has been notoriously difficult for computers to master until recently.
But now the company, which employs over 150 people in King's Cross, is making its first foray into more serious areas beyond arcade games.
Suleyman said in a statement:
We’ve learned from doctors and nurses that patient safety comes down to detecting and communicating problems quickly and efficiently. That’s a technology challenge.
We’ve managed to make progress much faster than many people thought possible. We’ve created an awesome alliance of the UK’s best clinicians, best academics, and best technologists to transform the way NHS technology is developed.
It’s super early. But if we get this right, we can help doctors and nurses spend more time providing care, and less time juggling to-do lists.
Google
Hark — acquired by DeepMind for an undisclosed sum — is a clinical task management smartphone app that was created by Imperial College London academics Professor Ara Darzi and Dr Dominic King.
Lord Darzi, director of the Institute of Global Health Innovation at Imperial College London, said in a statement: "It is incredibly exciting to have DeepMind – the world’s most exciting technology company and a true UK success story – working directly with NHS staff. The types of clinician-led technology collaborations that Mustafa Suleyman and DeepMind Health are supporting show enormous promise for patient care."
Streams
Google DeepMindThe Streams mobile app was built by DeepMind and the NHS.DeepMind's own app, "Streams," allows clinicians to instantly review results and trend analyses on mobile and — where necessary — accelerate care for deteriorating patients.
Consultant nephrologist and associate medical director for patient safety at the Royal Free Hospital London, Dr Chris Laing, who helped design the app and oversaw two initial pilots at the Royal Free, said: "Using Streams meant I was able to review blood test results for patients at risk of AKI within seconds of it becoming available. This system of direct alerts and the ability to prioritise patients was just not possible previously. By using Streams, I intervened earlier and was able to improve the care of over half the patients Streams identified in our pilot studies."
He added: "The speed at which the team from DeepMind Health have stepped up to the challenge has been really exciting, and shows the enormous potential for these kinds of collaborations."
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Land Acquired Over Past Decade Could Have Produced Food For A Billion People - Business Insider
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Land Acquired Over Past Decade Could Have Produced Food For A Billion People
John Vidal, The Guardian
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International land investors and biofuel producers have taken over land around the world that could feed nearly 1 billion people.
Analysis by Oxfam of several thousand land deals completed in the last decade shows that an area eight times the size of the UK has been left idle by speculators or is being used largely to grow biofuels for US or European vehicles.
In a report, published on Thursday, Oxfam says the global land rush is out of control and urges the World Bank to freeze its investments in large-scale land acquisitions to send a strong signal to global investors to stop "land grabs".
"More than 60% of investments in agricultural land by foreign investors between 2000 and 2010 were in developing countries with serious hunger problems. But two-thirds of those investors plan to export everything they produce on the land. Nearly 60% of the deals have been to grow crops that can be used for biofuels," says the report.
Very few, if any, of these land investments benefit local people or help to fight hunger, says Oxfam. "Instead, the land is either being left idle, as speculators wait for its value to increase … or it is predominantly used to grow crops for export, often for use as biofuels."
The bank has tripled its support for land projects to $6bn-$8bn (£3.7bn-£5bn) a year in the last decade, but no data is available on how much goes to acquisitions, or any links between its lending and conflict.
Since 2008, says Oxfam, 21 formal complaints have been brought by communities affected by World Bank investments, in which they claim that these have violated their land rights.
Oxfam's chief executive, Barbara Stocking, said: "The rush for land is out of control and some of the world's poorest people are suffering hunger, violence and greater poverty as a result. The World Bank is in a unique position to help stop land grabs becoming one of the biggest scandals of the century."
She added: "Investment should be good news for developing countries – not lead to greater poverty, hunger and hardship."
According to the International Land Coalition, 106m hectares (261m acres) of land in developing countries were acquired by foreign investors between 2000 and 2010, sometimes with disastrous results.
Nearly 30% of Liberia has been handed out in large-scale concessions in the past five years, and up to 63% of all arable land in Cambodia has been passed over to private companies.
Oxfam dismisses the claim made by the World Bank and others that lots of available land is unused and waiting for development. "It is simply a myth. Most agricultural land deals target quality farmland, particularly land that is irrigated and offers good access to markets.
"It is clear that much of this land was already being used for small-scale farming, pastoralism and other types of natural resource use."
A 2010 study by the Independent Evaluation Group (IEG) – the World Bank's official monitoring and evaluation body – stated that about 30% of bank projects involved involuntary resettlement. The IEG estimated that at any one time, more than 1 million people are affected by involuntary resettlement in active World Bank-financed projects.
Oxfam urged the UK government, one of the bank's largest shareholders, to use its influence to persuade it to implement the freeze. "It can also play a crucial role as president of the G8 next year by putting food and hunger at the heart of the agenda, and addressing land grabs as part of this. Critically, it can also press the EU to reverse biofuels targets – a key driver of land grabs."
Stocking said: "The UK should also show leadership in reversing flawed biofuels targets, which are a main driver for land and are diverting food into fuel."
In a statement to the Guardian, the International Finance Corporation, the World Bank's private lending arm, said: "IFC does not finance land acquisitions for speculative purposes. We invest in productive agricultural and forestry enterprises that can be land intensive to help provide the food and fibre the world needs. IFC has roughly a $4.85bn portfolio of agri-related investments. Of that, roughly $600m has a land component. Total land holding related to those investments total 0.7m hectares.
"Competition for scarce land resources has spurred rising investment in land. This competition can fuel conflict with existing users. Inevitably, bank group involvement in forestry and agriculture is not without risk, particularly given the fact we are operating in imperfect governance environments. But the total number of complaints received gives no explanation as to their validity."
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Land Acquired Over Past Decade Could Have Produced Food For A Billion People
Land Acquired Over Past Decade Could Have Produced Food For A Billion People
Oxfam slams land investors and biofuel producers.
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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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Google Will Continue Its Acquisition Binge This Year
Matt Rosoff
Mar. 25, 2011,
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Neeraj Arora, second from left.Matt RosoffGoogle expects to continue its acquisition spree this year, according to comments by one of its corporate development execs.
At a panel discussion at the Global Technology Symposium in Silicon Valley today, Google M&A representative Neeraj Arora said that the company expects to increase its acquisition pace from the 40 it made last year.
"If everything goes well," said Arora, "we might do more than we did last year. I'm very close to the product leaders in the company, we want to do more."
Arora says that Google's product teams drive acquisitions, which are meant to fill specific gaps in product lines. M&A isn't a corporate growth strategy in itself -- unlike the case at Oracle in the earlier part of this decade, for instance.
Arora focuses primarily on Google's Android and consumer Internet business.
He also said that YouTube has more than paid back the $1.6 billion acquisition price. When challenged by Yahoo's Steven Mitzenmacher, he pointed to the company's $2.5 billion in annual display revenue, and said that a sizable proportion of that is coming from YouTube.
Google has nearly $35 billion in cash, and has made more than 100 acquisitions in the last five years.
The moderator of the panel, Woodside Capital's Kelly Porter, noted that giants like Microsoft and Oracle have slowed their pace of acquisitions in the last couple of years, and pointed to Google as an exceptionally successful acquirer.
Now, don't miss: Google's 15 Biggest Acquisitions And What Happened To Them.
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Google Will Continue Its Acquisition Binge This Year
Google Will Continue Its Acquisition Binge This Year
Google bought more than 40 companies in 2010, and will probably buy even more this year.
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Google Can't Hire Anyone, So It's Going Crazy Acquiring Companies
Jay Yarow
Sep. 10, 2010, 12:10 PM
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In the last twelve months, Google has acquired (or planned to acquire) twenty-six different companies.
Why is Google going on such a crazy shopping spree? On a basic level, it can afford it, since it has billions in cash. And Google thinks its smart to invest in companies and people to turbo charge the company now for the future.
But, below those superficial reasons there seems to lurk a more vexing problem for Google. It's no longer a sexy growth business, and we've heard that's making it harder for Google to attract the best and the brightest in the industry.
Facebook wrested that mantle away Google. Facebook is growing like a weed, introducing new products, and most importantly pre-IPO, which means big paydays eventually for employees joining today.
Google offered $500,000 to an employee who was leaving for Facebook. He turned it down and joined Facebook anyway. (We've also heard Quora is hiring lots of talent lately. More on that later.)
Which, brings us to Google's acquisitions. It bought some big companies, but mostly it's smaller companies filled with industrious, intelligent, entrepreneurs.
Google used to be able to just hire those people. Today, if it wants them in the Google Plex it has to buy the company they're working on.
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Google has purchased 26 companies in the past 12 months.
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Alphabet's Waymo Acquires Latent Logic, Expands Into Europe
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Alphabet's self-driving car company Waymo has broken ground in Europe by buying an Oxford startup
Isobel Asher Hamilton
2019-12-13T11:46:20Z
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Alphabet self-driving subsidiary Waymo announced Thursday that it had acquired Oxford University spinout Latent Logic.As well as buying up Latent Logic's tech and talent, Waymo announced that it would establish its first European engineering hub.At the moment Waymo's cars only operate in Phoenix, Arizona, but the firm has signalled it wants to break into Europe in time for the Paris 2024 Olympics.Visit Business Insider's homepage for more stories.
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Google's self-driving ambitions are spreading to Europe.Waymo, the self-driving firm owned by Google's parent company Alphabet, on Thursday acquired British startup Latent Logic.—Waymo
(@Waymo) December 12, 2019"By joining Waymo, we are taking a big leap towards realising our ambition of safe, self-driving vehicles," Latent Logic founder Shimon Whiteson told the Guardian."In just two years, we have made significant progress in using imitation learning to simulate real human behaviours on the road. I'm excited by what we can now achieve in combining this expertise with the talent, resources and progress Waymo have already made in self-driving technology," he added.
Latent Logic spun out from the University of Oxford in 2017, and specialises in "imitation learning."Per Forbes, Latent Logic collects traffic data to give its algorithm examples of real-world driving behavior. The idea is that this will make autonomous vehicles better at reacting to unpredictable situations.A Waymo spokeswoman said the company is not disclosing the price of the acquisition.Buying Latent Logic has also signals Waymo breaking ground in both the UK and Europe, and it announced the creation of Waymo's "first engineering hub in Europe" alongside the acquisition. The company will set up shop in Oxford, where Latent Logic is based.
Waymo's self-driving taxis first hit the roads in Phoenix, Arizona at the end of 2018.The cars are yet to make it beyond Phoenix, let alone the US.The company signed a deal with Renault in October to set up a self-driving route from Paris' Charles de Gaulle airport to an area just outside the city, with a view to having it operational by the 2024 Paris Olympics.Do you work at Waymo? Got a tip? Contact this reporter via email at ihamilton@businessinsider.com or iahamilton@protonmail.com. You can also contact Business Insider securely via SecureDrop.
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Four High School Friends May Be Celebrating Their Startup's ~ $200 Million Acquisition Today
http://www.businessinsider.com/4-high-school-friends-may-be-celebrating-their-startups--200-million-acquisition-today-2012-8/comments
en-us
Wed, 31 Dec 1969 19:00:00 -0500
Thu, 26 May 2016 03:24:13 -0400
Alyson Shontell
http://www.businessinsider.com/c/501ff8bceab8eaa429000001
tylerdurden99us
Mon, 06 Aug 2012 13:02:52 -0400
http://www.businessinsider.com/c/501ff8bceab8eaa429000001
HAHAHHAHA... Has anyone ever read the articles on bleacher report ??? I'm a die hard sports fan and there is nothing credible about anything these guys have every done. It's all speculation and BS. These are the same people that call up sports radio talk shows. There articles are all stupid hypothetical trades, lame lists and horrible generic thoughts. There is no reporting going on here at all.
http://www.businessinsider.com/c/501fe505ecad042a2800000c
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http://www.businessinsider.com/c/501fe505ecad042a2800000c
great another acquisition | M&A | 0.999846 | [
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"score": 0.9998455047607422
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Starbucks Just Acquired Teavana
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Starbucks Just Acquired A Huge Tea Company
Ashley Lutz
Nov. 14, 2012,
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By corsairstw on FlickrStarbucks just acquired Teavana, a chain of stores that sell loose-leaf tea.
“We believe the tea category is ripe for reinvention and rapid growth. The Teavana acquisition now positions us to disrupt and lead, just as we did with espresso starting three decades ago,” Starbucks CEO Howard Schultz said in the release.
Starbucks paid $620 million for the company, according to Bloomberg.
Teavana has 300 stores around the world. Starbucks plans to aggressively expand that number, according to the release.
Owning a tea company is a win for Starbucks, which is actively trying expand in Asia. The beverage is much more popular than coffee in China and Japan.
"This helps them really drive a locally focused product, which so many other U.S. chains have trouble doing," said Brian Sozzi, chief equities analyst at NBG Productions. "Think, Teavana is a pricey brand that could be sold to Chinese tea lovers with money."
Starbucks plans to add WiFi and tables to stores in order to create a Starbucks-like experience, but with tea.
"This is quite the opportunistic purchase for Starbucks, as it’s nowhere near Teavana’s IPO price," Sozzi said. "This is 100% about Starbucks wanting ownership of every category of interest on both the high-end and low end, and then leveraging that on a global scale and within multiple verticals (retail stores, supermarkets, home brewing machines etc.)"
Starbucks also said that acquiring Teavana will help it with its plan to expand its Tazo brand, which Schultz has said he wants to make a major force worldwide, particularly in Asia.
But some fans of Teavana complained about the corporate takeover on Twitter.
"Starbucks acquiring Teavana? Not sure how I feel about that, but my first thought was ugh," one user tweeted.
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Robert Hagstrom Explains Warren Buffett's 'Money Mind,' M&a Strategy
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Warren Buffett expert Robert Hagstrom breaks down the 3 key elements of the investor's 'ultimate money mind' — and explains why he won't rush to make another elephant-sized acquisition
Theron Mohamed
2021-10-11T14:57:26Z
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Warren Buffett's philosophy, methodology, and temperament fuel his success, Robert Hagstrom said.
Buffett didn't buy stocks last spring because he was worried about the pandemic, Hagstrom said.
The investor won't want to tarnish his legacy with a subpar acquisition, the author said.
Warren Buffett's phenomenal success is the product of his philosophical roots, sound methodology, and calm temperament, Robert Hagstrom told Insider in a recent interview.He also explained the lack of purchases during the pandemic by the famed investor and Berkshire Hathaway chief, and suggested Buffett won't rush to pull the trigger on an elephant-sized acquisition.Hagstrom is the investment chief of EquityCompass and the author of multiple books about the Berkshire boss, including "The Warren Buffett Way" and "Warren Buffett: Inside the Ultimate Money Mind." An investing machineBuffett's commitment to constant learning, willingness to adapt, and ability to block out distractions give him an edge over other investors, in Hagstrom's book."The mental aspects of managing money the right way are quite challenging," the fund manager and author told Insider.Buffett's approach is to concentrate his money in a handful of stocks and not touch them for years. Many people struggle to do that because they're itching to buy and sell. They're worried about losing money and underperforming their peers, vulnerable to fear and euphoria, and too focused on the short term.Buffett's calmness and conviction reflect the influence of his father, who preached Ralph Waldo Emerson's teachings on self-reliance, non-conformity, and ethical living to him, Hagstrom said.The investor also embraces the stoicism of his mentor Benjamin Graham, the rationality of Immanuel Kant, and William James' pragmatism, the author added.The Berkshire chief's philosophical underpinnings, valuation skills, and level head allowed him to shift from picking "cigar butts" off the street like Graham to buying wonderful businesses at fair prices with his business partner, Charlie Munger. A few years ago, they allowed Buffett to plow $36 billion into Apple after he'd eschewed technology for most of his career."Where would Berkshire be without Apple?" Hagstrom asked, noting Berkshire's stake in the iPhone maker is worth more than $130 billion today. "It would be worth a hell of a lot less."Willing to experimentBuffett has showcased his patience, discipline, and willingness to evolve during the pandemic, Hagstrom told Insider.The investor was widely expected to deploy some of Berkshire's massive cash pile when the stock market crashed in spring 2020, but instead he sold his stakes in the "Big Four" airlines and slashed his financial holdings.Buffett exercised caution because he wasn't sure how bad the pandemic would get, and he took seriously his stewardship of his shareholders' money."He recognizes the ultimate financial responsibility he has to these people," Hagstrom said. "He's not going to risk Berkshire on a low-probability, high-severity bet."Still, Buffett and his two deputies Ted Weschler and Todd Combs haven't been afraid to pursue new opportunities. For example, they backed Snowflake when the cloud-data platform went public last year, bought a stake in Brazilian fintech Nubank this summer, and have invested in Japanese trading houses and pharmaceutical stocks."Todd and Ted are playing a larger role, and they bring very different ideas to the table," Hagstrom said.Playing it safeBuffett, 91, has been promising another "elephant-sized" acquisition for several years now. He'll be especially wary of wasting tens of billions of dollars in the final innings of his career."His legacy is intact, his reputation is on the Mount Rushmore of money managers," Hagstrom said. "He doesn't have to swing for the fences and do something for the sake of trying to hit one more home run."However, the author warned it's a fool's errand to predict what Buffett will do next."I've given up on guessing what Warren's going to buy," Hagstrom said, adding that Buffett's moves can be initially surprising but upon further analysis, they make perfect sense.
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Google's $500+ Million Acquisition of DeepMind Is Looking Good
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Google's $500+ million purchase of DeepMind just got very interesting
Sam Shead
2016-07-21T12:52:00Z
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Google cofounders Sergey Brin and Larry Page.
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Google forked out over $500 million for a little-known London startup called DeepMind in 2014 without specifying how the company's artificial-intelligence technology would be used to increase Google's revenues, which already run into tens of billions of dollars every year.That all changed on Wednesday when DeepMind announced that Google had found a use for DeepMind's technology in its enormous data centers.
Since being acquired by Google, DeepMind's AI has been used to beat humans at board games and create free apps with the National Health Service. Neither application has helped Google make — or save — any money.But now Google is using a DeepMind AI system to control the huge air-conditioning units in its power-hungry data centers, where servers consume enough energy to power entire cities and get very hot in the process.The AI system does this by predicting how much air conditioning will be needed to deal with an anticipated change in data-center temperature, which fluctuates as demand for services like YouTube, Google Maps, and Gmail rises and falls.DeepMind says its AI can make the cooling units in Google's data centers 40% more efficient, ultimately cutting the data centers' overall electricity consumption by 15%.
DeepMind's technology has been deployed across only a handful of Google's data centers, but Google is planning to introduce the company's machine-learning software to all 15 of its data centers by the end of the year, potentially resulting in massive energy savings on Google's sizable electricity bill.DeepMind cofounder Mustafa Suleyman was unable to say how much money Google stood to save on its electricity bill, but the figure could run into tens or even hundreds of millions given the size of Google's data-center operation. In 2011, Google's data centers reportedly used 0.01% of the world's electricity.But data centers aren't the only place where DeepMind can have an effect on Google's bottom line.The company has also said in the past couple of months that it intends to sell its products and services to healthcare providers like the NHS at some point, providing Google with an additional revenue stream.
All of this adds up to make DeepMind an interesting acquisition that could create significantly more than the $500 million Google paid for the startup."DeepMind looks to be an acquisition of YouTube/Android significance for Google," Chris Lacy, an entrepreneur and software developer, wrote on Twitter, prompting a retweet from one of DeepMind's employees.—Chris Lacy
(@chrismlacy) July 20, 2016
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Activision CEO Out After Microsoft Deal Closes: WSJ
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Activision CEO Bobby Kotick will reportedly leave the company after Microsoft acquisition closes
Ben Gilbert
2022-01-18T18:53:56Z
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Microsoft is buying "Call of Duty" publisher Activision in a $68.7 billion all-cash deal.
As part of the deal, Activision CEO Bobby Kotick is reportedly out.
Microsoft said Kotick would remain in his position after the deal closes and report to Xbox lead Phil Spencer.
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Microsoft is buying Activision, the major video game publisher behind the "Call of Duty" franchise, in an all-cash deal valued at around $68.7 billion.It's Microsoft's largest ever acquisition, and the largest video game acquisition in history.Microsoft will acquire a huge selection of intellectual property and game development resources: Game franchises like "Call of Duty," "World of Warcraft," and "Candy Crush," in addition to major game studios like Blizzard Entertainment and Treyarch. Activision's approximately 10,000 employees will join Microsoft in the deal.One employee who apparently won't be joining Microsoft, though, is embattled Activision CEO Bobby Kotick: He's expected to leave the company once the deal closes, according to sources who spoke with the Wall Street Journal.
Those sources said that both Microsoft and Activision have agreed that Kotick "will depart once the deal closes," which could take anywhere from 12 to 18 months.That's in stark contrast to what Microsoft said in its press release on Tuesday morning."Bobby Kotick will continue to serve as CEO of Activision Blizzard," the release said, "and he and his team will maintain their focus on driving efforts to further strengthen the company's culture and accelerate business growth. Once the deal closes, the Activision Blizzard business will report to Phil Spencer, CEO, Microsoft Gaming."Kotick reportedly knew for years about a variety of claims of sexual harassment and rape at his company.
An investigation by the Wall Street Journal detailed several specific examples of harassment and rape at Activision. Kotick was not only aware of those claims but, in a least one instance, reportedly intervened to keep a male staffer who was accused of sexual harassment despite the company's human resources department recommending he be fired.At the time, Xbox head Phil Spencer said in an email to staff that Xbox was "evaluating all aspects of our relationship with Activision Blizzard and making ongoing proactive adjustments." Microsoft further addressed the issues at Activision during its investor phone call on Tuesday."We believe it's critical for Activision Blizzard to drive forward on its renewed cultural commitments," Microsoft CEO Satya Nadella said. "We are supportive of the goals and the work Activision Blizzard is doing. And we also recognize that after the close, we will have significant work to do in order to continue to build a culture where everyone can do their best work."Neither Activision nor Microsoft representatives responded immediately to a request for comment.
Got a tip? Contact Insider senior correspondent Ben Gilbert via email (bgilbert@insider.com), or Twitter DM (@realbengilbert). We can keep sources anonymous. Use a non-work device to reach out. PR pitches by email only, please.
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DOJ Planned to Arrest, Charge Chauvin If Acquitted of Murder: Report
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DOJ planned to arrest Derek Chauvin in court and charge him with civil-rights violations if he was acquitted of murder, report says
Ashley Collman
2021-04-29T10:44:34Z
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Derek Chauvin in his mugshot and being placed in handcuffs after he was found guilty of murder in the death of George Floyd.
Minnesota Department of Corrections via AP; Court TV via AP
DOJ has been building a police-brutality case against Derek Chauvin, the Star Tribune reported.
Feds reportedly planned to arrest Chauvin in court if he was not convicted of murder.
That case is still going forward, and indictments are expected soon, the report said.
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Justice Department officials planned to arrest Derek Chauvin at the courthouse and charge him with civil-rights violations if he was found not guilty of murder in George Floyd's killing or if there was a mistrial, the Star Tribune's Andy Mannix reported Wednesday.According to the report, federal prosecutors spent months building a police-brutality case against Chauvin and the three other former Minneapolis police officers charged in connection to Floyd's death. In an effort not to influence the outcome of the murder trial, the department held off on pushing forward with a grand-jury indictment but had a plan in place in case Chauvin was acquitted, the Star Tribune reported.
Protesters hold signs honoring Floyd outside Hennepin County Government Center in Minneapolis on March 28.
Kerem Yucel/AFP via Getty Images
People familiar with the discussions told the Star Tribune about the Justice Department's plan.
The Minnesota US attorney's office would have charge Chauvin by criminal complaint so authorities could arrest him immediately, then seek a grand-jury indictment afterward, the Star Tribune reported.But that plan was never realized, as a jury last week found Chauvin guilty of second-degree murder, third-degree murder, and second-degree manslaughter in Floyd's killing. Chauvin faces up to 40 years in prison on the most serious charge, second-degree murder, and his sentencing is scheduled for June.Federal prosecutors are still going forward with the case but plan to do so by getting a grand-jury indictment first, the Star Tribune reported, citing a source. The Justice Department impaneled a federal grand jury in February, The New York Times reported at the time.The source said indictments against Chauvin and the three other officers present during Floyd's arrest — J. Alexander Kueng, Thomas Lane, and Tou Thao — were expected soon.
The department is separately opening a civil investigation into the practices of the Minneapolis Police Department, Attorney General Merrick Garland said last week.The Justice Department declined to comment when reached by Insider on Thursday. The Minnesota US attorney's office did not immediately respond to Insider's request for comment.
The three other officers who were present during Floyd's arrest, from left: J. Alexander Kueng, Thomas Lane, and Tou Thao.
Hennepin County Sheriff's Office via AP
According to the Star Tribune, federal prosecutors planned to charge Chauvin in connection with Floyd's death and the violent arrest of a 14-year-old boy in 2017. ABC News previously reported the department was considering charges over the 2017 arrest.That incident was described in court documents by prosecutors in the murder case who wanted to use it as evidence of a pattern of behavior by Chauvin.
In a court filing, prosecutors said Chauvin struck a Black teenager in the head with a flashlight and placed him in a prone position for 17 minutes, the Star Tribune reported. ABC News reported, also citing court documents, that Chauvin ignored complaints that the teen couldn't breathe.The Star Tribune reported that the three other officers would be charged only in connection with Floyd's fatal arrest.Kueng, Lane, and Thao are also set to stand trial together in August on charges of aiding and abetting second-degree murder.
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Google Buys AdMob For $750 Million In Stock
Dan Frommer
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Google (GOOG) just made a big bet on mobile advertising: It acquired mobile ad network AdMob for $750 million in stock.
This deal is not surprising: Google has always been pegged as AdMob's most likely acquirer.
While Google already has its own fledgling mobile advertising business, especially focused on search advertising, AdMob has taken an early lead with display advertising on smartphone platforms, such as Apple's iPhone and even Google's Android. AdMob received 2.6 billion ad requests from iPhone and iPod touch devices in September, up from 130 million in September '08. (It received 10.2 billion total requests in September.)
Google has already made a Web site explaining the deal, here. In it, the company acknowledges there may be some regulatory scrutiny, but does not "currently" think the deal will face questions from tougher European regulators. "AdMob's business simply is too small," Google says.
Bigger picture: Mobile advertising is still tiny compared to Internet advertising, but companies like Google are obviously hoping it can be a growth driver. Kelsey Group projects the U.S. mobile ad market will reach $3.1 billion in 2013, up from $160 million in 2008.
But as Henry Blodget recently wrote, there are many unanswered questions about mobile ads that will need answers before it's a real opportunity. Don't miss, "Enough Empty-Headed Puffery About The Huge New Opportunity In Mobile Ads."
The deal comes as AdMob was rumored to be seeking new funding ahead of an IPO in about a year. (And as wacky, obviously incorrect rumors pegged Apple has a potential AdMob buyer last week.) The purchase price is a solid return for AdMob's investors, including Sequoia Capital, Accel, and the DFJ Growth Fund. AdMob had raised about $50 million, according to CrunchBase.
Don't miss: Grading Google's Acquisitions →
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Google Buys AdMob For $750 Million In Stock
Google Buys AdMob For $750 Million In Stock
Google bets big on mobile advertising.
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Palantir Acquired Silk, a Dutch Startup That Creates Data Visualisations
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Palantir acquired a Dutch startup that creates data visualisations
James Cook
2016-08-10T15:40:42Z
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Alexander Karp, CEO of Palantir Technologies
REUTERS/Mike Blake
Big data company Palantir has acquired Silk, the Dutch startup that created data visualisations and websites.Silk announced that it had been acquired by Palantir in an email to users sent on Wednesday.
A blog post published on its official site says that the company "realized that we could work on even bigger and more important data problems with an incredibly talented team – even if it meant no longer working on the Silk product."The company was founded in Amsterdam by CEO Salar Al-Khafaji in 2011, and eventually expanded to include a sales team in San Francisco.Customers could use Silk to create basic free data visualisations or more advanced paid ways of presenting data. That's certainly going to be useful to Palantir, which is paid by corporate clients and the US military to sort data and make it more useful.Here's what a Silk data visualisation looked like:
Silk
Here's Silk's full blog post announcing its acquisition:We’re happy to announce today that the Silk team is joining Palantir.Silk started with the goal of helping people get the most out of their data. Over the last few years, we’ve worked relentlessly on a vision to help people structure, query, visualize and share data.We’re proud of the product and community we built, and of all the data journalists,activists, NGOs, businesses and many other kinds of people that were able to find important insights and tell great data stories through Silk.
When we met the Palantir team, we realized that we could work on even bigger and more important data problems with an incredibly talented team – even if it meant no longer working on the Silk product. We decided to join Palantir because we believe we can achieve a larger impact there than we could at Silk alone.What will happen to Silk.co?Silk.co as a platform will continue to operate. Nothing will change to current Silks, and you can still create a new Silk for free. However, because of our new roles at Palantir, Silk.co will operate “as is” and we will not be able to provide technical or customer support to new or existing Silk accounts any longer, nor will we be doing any further development work or adding new features to the hosted Silk.co product.Your data, including the data in your Silks, email addresses, passwords, and any other information will remain confidential and as always, not be shared.
We have immensely enjoyed working on Silk and helping all our users, and are looking forward to the next chapter ahead with our friends and future colleagues at Palantir.Best,The Silk Team
Disclosure: Palantir Technologies CEO Alexander Karp is a member of Axel Springer's shareholder committee. Axel Springer owns Insider Inc, Business Insider's parent company.
Disclosure: Palantir Technologies CEO Alexander Karp is a member of Axel Springer's shareholder committee. Axel Springer owns Insider Inc, Business Insider's parent company.
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Constant Contact
SinglePlatform Acquired By Constant Contact
Charlie O'Donnell, Brooklyn Bridge Ventures
Jun. 13, 2012, 12:22 PM
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The news just came out that SinglePlatform is being acquired by Constant Contact--$65 in cash and $10-30 million over the next two years in additional incentive based awards. If you've ever met Wiley, you know you can bank on him maxing out that additional $30 million. You don't give a sales team like that a target without expecting him to crush it.
I first met Wiley Cerilli on April 23, 2010. I biked down Broadway to his temporary office space at SoHo Haven. I had come from breakfast at Coffee Shop with Rob Hayes and it was a great sunny day to be on wheels.
Wiley was soft spoken and extremely professional. He oozed a quiet confidence--like a baseball pitcher who had all his stuff working and knew exactly in his head the pitch he was going to finish you off with. No need to get worked up about it--it was just about executing what you had in your head, like he had done on each pitch before during this game. (A VC once said about him that "I'm not sure about the company, but I sure do want him reading bedtime stories to my kids.")
A chalkboard stood in the corner with sales totals for the week. He proceded to tell me a story about how, in his SeamlessWeb days, he spent a day at a customer just watching their day--how they got hounded by the yellow pages guy, the napkin guy, the vending machine salespeople, sold to minute after minute while they ran around just trying to keep their business afloat.
The hard sale was never going to work and so he went about developing a better methodology--one about being supportive of the customer and thinking about how what you did made their life easier. There isn't a thing you could tell Wiley about how to walk into a pizzeria and walk out with a check, but that doesn't mean he won't sit and listen to you anyway, because he's that kind of guy.
He's also the kind of guy that volunteers at a summer camp for kids who have lost parents. He'll take any meeting with a student looking to find their way in their career. When I asked him to come share his sales and company culture expertise at GA, he was on it--right in the middle of acquisition negotiations.
After I met him, I told the team at First Round that I had just met the guy we were going to back in the local space. A year later, SinglePlatform was chosen as one of Business Insider's 25 Companies to Watch. When BI put up a photo of Wiley, he asked that they replace it with a photo of his team. That's the most important thing I learned about working with Wiley over the last two years...
You don't just get the entrepreneur--you get the team he puts in a position to succeed.
Given that, I'm incredibly proud to be able to congratulate the whole SinglePlatform team on their successful sale to Constant Contact, because it was truly a team effort.
The company culture that SinglePlatform had built up was outstanding--something other companies should really try to emulate. Sales goals were setup to encourage representatives to help each other out--not only by structuring team incentives, but creating an environment were one day someone would carry the load and the next day, someone else would--and it was all about getting the team there.
Early on, Wiley had invited me to a team building session. Salespeople were working with a coach to identify communication styles and preferences. It struck me that nowhere else were kids this age getting their personal development cared about in the same way.
In fact, one potential recruit that I sent over there, who eventually followed his writing passion and become a journalist for Forbes, liked the company so much that he went back and wrote a magazine profile on it. The cool thing--Lance Armstrong saw Wiley's Livestrong band and wrote him a handwritten note wishing him good luck with the company.
I was an extremely proud investor in the company through First Round, but it wasn't easy to get there.
Wiley initially didn't want to take any money, so it wasn't the easiest deal to get. He wrote to me in July:
"...We are pretty sure we will not be going the institutional route... Although we are excited about being cash flow positive, we are most excited about the next phase of the business. Our service has a ways to go but the feeling the team has and the feedback we are getting, reminds me of month 9 at Seamless when we all started to realize that this was going to our lives and passions for the next 10 years..."
Selling the salesguy wasn't easy, but when I made the full pitch to him about getting involved early, and rolling up our sleeves, especially around recruiting, he became more and more excited. It was important for me to follow through on that--to not just win the deal but to make the entrepreneur feel good about taking your money.
I went to work helping him hire his first fulltime developer. I sourced a great first tech hire for him--one of four people I would get into the company.
The cool thing was that I felt so good about SinglePlatform as a place to work that I felt like I wasn't just helping the company--I was helping the employee find a great home.
Not everyone was enthusiastic about this company, though.
When we first syndicated the seed round with other investors, some people didn't get it. Despite the fact that he had over 100 signed customers--something that never happens when you get pitched a service for local merchants that isn't a Groupon clone, people asked about how robust the product was. The answer: it wasn't. SP had built a minimum viable product with a 30 hour a week tech consultant and sold the hell out of it. Product? We'll build whatever we need to later after we solve the hard part in our space--sales.
It also wasn't a particularly "hot" round when the company raised money last year. All Wiley and his team had ever done is follow through on all their promises--and accomplish just about everything he said he was going to in his seed round. Their success became almost routine. Yawn. Revenues. Partners. Powering Foursquare's menu data? Yawn. B2B. Meh. It was tough to get the market excited if you weren't doing viral photosharing. Thank you Thatcher at DFJ and Jeff at New World for having the conviction to see a real business and to step up.
I can't say enough about how much I've learned from Wiley and how much I've enjoyed getting to know the other folks on his team.
They mention in Casino Royale (I'm a Bond geek.) that it takes two kills to become a Double-0 agent. Now I feel like I'm kind of a "real" VC now that I've got a second exit (GroupMe) in less than a year. This in the relatively young portfolio that I put together while at First Round in 2010 and 2011. I owe it in large part to finding great people whose skills were uniquely matched to the entrepreneurial challenge they were taking on. I certainly have to thank the First Round team for supporting an investment in SinglePlatform, especially Howard who worked on the investment with me.
So congrats again to the SinglePlatfrom team and best of luck in their continued success now as a division of Constant Contact.
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OpenWeb Has Acquired Hive Media Group for $60 Million
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Publisher adtech firm OpenWeb is flush with cash and making its first acquisition to enter the crowded advertising industry
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2022-01-19T14:00:00Z
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OpenWeb has acquired Hive Media Group for $60 million in cash and stock.
With this acquisition, OpenWeb wants to build adtech tools for advertisers, not just publishers.
OpenWeb raised a $150 million Series E round last year that valued it at more than $1 billion.
OpenWeb, a publisher adtech company, has acquired its first company, Hive Media Group, for $60 million in cash and stock.Founded in 2012, OpenWeb helps publishers like The New York Times, The Wall Street Journal, and Hearst manage their comment section to reduce toxicity, register users, and run stories like live blogs. OpenWeb also has a business that sells ad placements next to its comment section in exchange for a percentage of the ad revenue.This acquisition of Hive Media Group comes just months after OpenWeb closed its $150 million Series E in November, which valued the company at over $1 billion. Hive Media Group will help justify OpenWeb's pitch that it can help publishers capitalize on the deprecation of third-party cookies.Hive Media Group helps publishers use their first-party data to better understand their audiences and develop and recommend content that appeals to them. Using that publisher data, OpenWeb will start building out data analytics tools specifically for advertisers, said CEO and cofounder Nadav Shoval. He declined to specify further, saying these tools are in the beta phase.Shoval was bullish about the prospects of OpenWeb's advertising business, but declined to say how big he anticipated it would be.Besides introducing these new products, Shoval also intends to double the company's headcount to more than 400 people, with a heavy emphasis on research and development, and expand into Europe. OpenWeb projects it will double its revenue to more than $200 million by the end of 2022.OpenWeb is riding a wave of enthusiasm around publisher adtech, which has been a hot area for dealmaking over the past year. For example, Magnite acquired data startup Nth Party for an undisclosed amount and TV ad server SpringServe for $31 million. And publisher adtech company Permutive is also expanding its business to build tech tools for advertisers.But while investors like Insight Partners and Georgian Partners have bought into OpenWeb's unique value proposition around making online conversations less toxic, the company found itself embroiled in controversy last summer, when a Gizmodo and Branded investigation reported that OpenWeb was being used by controversial publishers like The Daily Caller. That discovery led to OpenWeb removing 50 publishers from its network and partnering with NewsGuard, a tech vendor that vets for misinformation."We cannot make decisions on what is good content and what is bad content," Shoval said. "To determine who to work with and who not to, we can't make these decisions. We got to bring in third-party experts to tell us who to work with and fully rely on them to do that."
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Automated Insights Gets Acquired by Vista for $80 Million
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A startup that uses robots to write news gets acquired for $80 million in cash
Alyson Shontell
2015-02-23T16:00:00Z
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Earlier this month, Vista Equity Partners acquired Automated Insights (Ai), a startup that uses technology to turn data into news articles, for an undisclosed sum."We aren’t disclosing the amount, but I will say two things about the financials,” founder and CEO Robbie Allen told TechCrunch. "Our shareholders are very happy with their return, and we were already in a strong financial position."
Sorry Robbie! But we know the price.Ai was acquired for $80 million in an all-cash deal, a source with knowledge of the deal tells Business Insider.Ai, which is headquartered in Durham, North Carolina, was founded in 2007. It raised $10.8 million from investors such as former AOL executive Steve Case and Samsung Ventures. Vista also acquired a competitor of Ai, STATS, last June. Both STATS and Ai use technology to turn data into articles that read like they were written by humans. STATS specializes in sports content; Ai produces real-estate, marketing, finance and sports content.What does a $14 billion PE firm want with robo-news companies?
Allen explained some of the logic behind the acquisition in a blog post. Vista owns 26 companies, and Allen thinks he can help those companies better leverage their data. "Vista’s resources and STATS’ distribution will allow us to fast-track our Wordsmith natural language generation (NLG) platform across multiple industries," Allen writes.The Associated Press works with Ai and increased the number of articles it produces ten-fold, Ai says. Here's an example of an Ai-written AP article:
An example of an article written by Automated Insights' technology, not a human.
Automated Insights
Allen did not return multiple requests for comment.
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Marissa Mayer's M&A Strategy, And The Two Companies She Is Closest To Acquiring
Nicholas Carlson
Nov. 21, 2012, 12:51 PM
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novecentinoYahoo is deep in the process of looking at ad tech companies to acquire.
We spoke with two sources familiar with the situation, and they explained to us what's going on.
Here's what we learned.
Yahoo's business is pretty simple.
It makes money by selling ads on Web pages.
This is the formula:
Number Of Visits To Web Pages X Rate Yahoo Can Charge For Ads On Those Pages = Revenues
That formula means there are only two ways for CEO Marissa Mayer to grow the business.
Method One: She can increase the number of visits to Yahoo Web pages. The way Yahoo does that is by creating new popular products and media.
Method Two: She can increase the rate Yahoo charges to put ads on Web pages. The way Yahoo does that is by using ad tech to find out as much as it can about the people looking at its Web pages, and, in "real-time" sell that inventory to buyers willing to pay more to reach certain demographics.
Mayer is going to embrace both methods.
Mayer's favorite thing to work on is consumer-facing products. So she's going to personally invest lots of time in "method one."
As for "method two," Mayer would like to delegate.
The problem is that Yahoo does not currently have a team running ad tech that Mayer trusts.
There is a reason for this.
Back in 2007, Yahoo acquired a hot ad tech company called Right Media for $680 million.
This deal brought a huge amount of ad tech leadership into Yahoo.
But since then, Right Media leaders Michael Walrath, Bill Wise, Wendi Sturgis, and Ramsey McGrory all quit to take senior roles at other companies (or, in the case of Walrath, start investing in companies).
In short, Yahoo botched the integration of its huge acquisition. This happened for the same reasons that Yahoo as a whole has suffered over the past five years. It had a horrible board that hired under-performing CEOs.
All that said, our sources say that Yahoo believes it still owns a solid brand in the name "Right Media" or "RMX" – even if Right Media's leadership is gone and its technology has rotted.
So Mayer's plan, according to our sources, is to buy an ad tech company with a strong executive bench, and install it as the new leadership of Yahoo RMX.
There are lots of candidates Yahoo is considering, but our sources say there are two current favorites.
The one Yahoo likes best, according to a Yahoo source, is called Rubicon. Founded in 2007, Rubicon's clients are publishers. Rubicon helps them categorize their ad inventory and sell it to the highest-bidding marketers. Yahoo would acquire it, and essentially become its sole client. Yahoo especially likes the depth of Rubicon's executive bench.
The problem with Rubicon is that it has raised more than $50 million from startup investors. Startup investors expect a 5x to 10x return on their money. So Rubicon is not cheap. It'd cost Yahoo several hundred million dollars to buy.
During Yahoo's last earnings call, Mayer said that Yahoo will be acquiring companies, but only in the tens and low hundreds of millions of dollars range.
A second Yahoo source cautions us, however, that Yahoo could buy Rubicon if it wanted to.
It's true; industry M&A bankers say that between Yahoo's cash and its reasonably liquid assets, like a stake in Yahoo Japan, Yahoo has about $10 billion it could spend.
Our Yahoo source says just don't expect Mayer to run out and spend a billion dollars on something like Pinterest.
So perhaps Rubicon's price is not too rich for Yahoo.
If it is, however, the first Yahoo source tells us the next company on its list is one called PubMatic. Like Rubicon, Pubmatic's clients are publishers. It helps them optimize their inventory.
Over the summer, Evercore put out a note that said acquiring a couple of companies, including PubMatic, could increase Yahoo EBITDA by $400 million. Mayer didn't miss that detail.
The problem with PubMatic, from Yahoo's perspective, is that it does not have a deep bench of executives or technical people.
A source close to Pubmatic tells us the reason its executives may not seem as strong as Rubicon's is that PubMatic is not going through a fundraising process, and executives have not spent a lot of time prepping for meetings with investors. This source says PubMatic CEO Rajeev Goel does not want to distract his team.
This source says that Rubicon, meanwhile, has hired Merrill Lynch/Bank Of America and is in the middle of a fundraising process.
To be clear, it is not certain that Yahoo will buy Rubicon, PubMatic, or even any ad tech firm.
What can report, for sure, is that two Yahoo sources tell us that Yahoo wants to buy an ad tech company in order to install a new team to run RMX. One of these Yahoo sources says that the current favorites are Rubicon and Pubmatic.
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How Yahoo Can Afford All These Acquisitions
Jay Yarow
May 27, 2013,
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Steven Henry, Getty ImagesYahoo M&A leader Jackie Reses
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Apple may be getting rid of the headphone jack on its next iPhone
Yahoo is in the middle of a serious acquisition spree.
It made a dozen purchases since last October. The biggest of the bunch was Tumblr, worth $1.1 billion in cash. The rest were probably paid for with Yahoo stock, since they were mostly talent acquisitions.
Yahoo is still on the prowl, with a bid for Hulu, and two other deals in the works.
With all this acquisition talk, a lot of people are wondering how Yahoo can afford to buy this many companies.
Even post-Tumblr, Yahoo is still loaded with cash.
Yahoo investor Eric Jackson says it had $5.6 billion in cash on its balance sheet before it bought Tumblr. And when the Tumblr purchase was announced, Yahoo CFO Ken Goldman said Yahoo picked up another $838 million in cash through Chinese Internet company Alibaba.
Yahoo owned a 40% stake in Alibaba, the Chinese e-commerce company. Yahoo only owns 24% of the company today after selling a big chunk of its stock to Alibaba last year.
To buy the shares, Alibaba borrowed money from Yahoo. It repaid that loan to Yahoo, which is how it got another $838 million, says Jackson.
So, pre-Tumblr, this suggests Yahoo really had $6.4 billion in cash. After paying $1.1 billion for Tumblr, Yahoo still has over $5 billion cash to buy whatever it wants.
Plus, Yahoo has more coming. Alibaba is likely to IPO in the next twelve months. At that point, Yahoo's stake in Alibaba will be more liquid and it can sell shares to drum up more cash should it be necessary.
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London Coffee Startup DripApp Is Looking for Potential Acquirers
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The future of coffee startup DripApp hangs in the balance after the founder of easyJet pulled his investment offer
Sam Shead
2016-10-25T15:34:00Z
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easyJet founder Stellios Haji-Ioannou.
REUTERS/Mohammed Salem
The future of London startup DripApp, which allows people to pay for discounted drinks in certain London coffee shops via an app, hangs in the balance after easyJet founder Sir Stellios Haji-Ioannou withdrew an investment offer.The aviation mogul was preparing to invest up to £500,000 in DripApp at a £2 million valuation, according to Ruben Grigri, the cofounder of DripApp, which takes a commission when any of its 30,000 users places a drinks order through its mobile app.
But Grigri told Business Insider on Tuesday that the billionaire withdrew his investment offer after the UK voted to leave the EU — a decision that cost easyJet £40 million in four weeks due to the crashing pound.Haji-Ioannou was initially willing to invest the full £500,000 that DripApp needed if the company agreed to some sort of rebrand that brought DripApp closer to easyJet's own brand, according to Grigri. That is likely to have involved adopting easyJet's distinctive orange in DripApp and possibly renaming the startup to "easyCoffee" or "easy" something else, which DripApp wasn't too keen on. Haji-Ioannou was also willing to invest £250,000 in DripApp if it refused to rebrand."On the day of the Brexit, easyJet lost 42% of its valuation," said Grigri, who says he met Haji-Ioannou on three separate occasions, including once at his home in Monaco. "So I said: 'Ok it’s not a good moment to chase him.' So we didn’t chase him for one or two weeks, because I knew he was very busy."After the Brexit, he didn’t want too much conversation. He said: "OK I’m happy to invest but you have to go to the easy brand. I can’t go to a lot of negotiation because I’m very busy right now.' So the conversation went very cold. He was like you accept this or you don’t. We declined it."
After rejecting the offer, DripApp attempted to raise £200,000 on crowdfunding platform Seeders but it terminated the campaign after just three days because there wasn't enough interest. "It wasn’t a good idea to be honest," said the French entrepreneur.
The DripApp allows people to find coffee shops in London and buy discounted drinks from them.
DripApp
In contrast to companies like YPlan, which went through $37 million (£30 million) before selling to Time Out for less than £2 million, DripApp hasn't spent that much money. "We only raised £100,000 more than a year ago and we [the cofounders] personally invested £10,000 each so we spent £120,000," said Grigri. "So it’s not that bad to be honest."Spelling out one of DripApp's main issues, Grigri said: "A lot of people are using the app to discover coffee shops but they’re not paying [for drinks with it]."In a bid to cut costs, the startup has moved out of a WeWork coworking space and there are just a handful of people working on the app full time.
Now DripApp is looking for potential buyers and there are two or three interested parties, according to Grigri."We would love to pursue the app but we really need some money," said Grigri. "We were planning to add food items so you could get like a croissant or something at the same time but we need the money to pay the developer.But the founders of the company aren't giving up on coffee altogether. They've built a website called DripHub, which is targeted at coffee shop owners. The website, which launched last Friday, sells coffee, cakes, and pastries from reputable brands, as well as things like cups, payment terminals, and iZettle devices.A spokesman at EasyGroup, the holding company controlling the "easy" group of companies, said: "We don’t comment on investment discussions."
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Advice for CEOs on Bolstering Mergers, Acquisitions, and Fundraising
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A leading tech dealmaker lays out what CEOs should do now to get ready for when M&A returns after the pandemic
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2020-04-13T11:48:44Z
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"In our new COVID-19 world, companies don't have to give up hope with regards to mergers and acquisitions or fundraising ambitions."
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Andrew Daniel is an investment banker at Digital Capital Advisors, LLC, a technology-focused global investment bank.Despite the coronavirus' impact on the economy, mergers and acquisitions will resume quickly when the crisis fades, he says. Companies are affected by the economic downturn differently, and founders and CEOs should adapt for future deals.Founders and CEOs should focus on executing, overcommunicating with their investors and boards, and identifying potential deal partners.Click here for more BI Prime stories.In our new COVID-19 world, companies don't have to give up hope with regards to mergers and acquisitions or fundraising ambitions. The global economy is grinding to a halt and businesses of all sizes are increasingly affected by the new status quo, but M&A and fundraising are here to stay.Although it's been a century since a pandemic has had such a global impact, the lesson learned from previous crises is that markets rebound and deal activity resumes once the macro environment stabilizes.While total aggregate deal value will likely decrease significantly in 2020, mainly driven by mega-deals being put on hold, total deal volume will recover significantly in the second half of the year.As strategic buyers and investors get accustomed to the new normal, and attentions turn away from short-term market reactions and crisis planning with portfolio companies back to generating long-term growth, now is the time for action among founders and CEOs, whether they are heavily negatively affected (revenue falling by 50% or more), slightly affected (revenue falling less than 25%), or growing. Each can take steps today to prepare themselves for future M&A and fundraising.The key is visibility. In uncertain times like these, entrepreneurs must build credibility with buyers and investors — a hard ask in a time where visibility and clarity is limited. Those that can build familiarity and credibility for their plans during COVID-19 and afterwards will be best positioned to take advantage of M&A down the road.Strategic buyers are taking varying approachesLike companies, strategic buyers fall into the same categories. They're also impacted by their ownership status.Public ones are mostly focused on share price, with many declining 30% or more. As such, they're often hesitant to pursue deals until the economy stabilizes and they're back on stable footing.Private buyers don't have to worry as much about appeasing shareholders so they can return to M&A faster, particularly in a 0% interest rate environment.For heavily affected buyers, revenue and share price declines, team safety, and customer retention are top priorities. They're planning for worst-case scenarios and ensuring that they have the cash to survive, and deals have mostly ground to a halt.Slightly affected buyers are taking different approaches. Some are focusing internally, minimizing costs. Others, although with more scrutiny than before, are selectively evaluating opportunities that are highly additive and attractive.Finally, buyers that are growing are eager to capitalize on an unprecedented opportunity with consumers at home and are actively looking at businesses that are also growing user bases, engagement, and revenues, even if valuations remain up for debate now.Private equity has the advantage nowPrivate equity has experienced a significant change in a COVID-19 world. Six months ago, entrepreneurs had the advantage, leading to competitive processes and sharply increased valuations. Now, businesses are struggling to survive, making them prime acquisition and investment targets, and the advantage is with private equity.Private equity firms are reminded in hindsight of elevated returns from 2008 and 2009 vintages, with some funds increasingly willing to run into the fire, trading revenue risk (due to a lack of visibility) for discounted valuations.While some private equity funds continue to sit on the sidelines, deals will surge rapidly.Venture capital is poised to return fastVenture capital firms are taking stock of their portfolio companies and deciding which companies they'll give additional capital and which they won't.Given the distraction and associated time of managing their portfolios during the crisis, venture capital firms will wait on new opportunities until their affairs are in order. For deals that were underway before COVID-19, some term sheets are being renegotiated. Expect venture capital dollars to lag in the near term but return back swiftly when the crisis ends.How founders and CEOs can prepare for when M&A comes backFocus on executing. For those negatively affected, extending cash runway, retaining customers, and defending market position needs to be top priority. Those that are benefiting need to capitalize on the opportunity. You'll be judged for your ability to succeed in a favorable environment.Overcommunicate with your investors and board. As the pandemic continues, businesses will increasingly face cash challenges, and getting capital from investors may be the last resort. Keep them informed so they are not faced with a surprise capital need.Identify potential acquirers and investors. Deals will happen in 2020. Identify tier-one acquirers or investors now and develop specific theses for each one, because once clarity towards recovery comes, parties will act swiftly.The more information, the better. Give potential acquirers or investors plenty of information and data they need in high quality and easy to understand formats to build comfort for those that are evaluating it.Be top of mind when certainty returns. Building relationships and staying top of mind for investors and acquirers has never been more important or more difficult when people are working at home. At the end of this crisis, a long line of companies will be seeking to be acquired and looking to raise capital. Do what you can to get to the top of the stack for when that time comes. Now is the time to focus on your top prospects and have casual conversations with decision makers, even if just to discuss potential deals, to build familiarity and credibility.Andrew Daniel is an investment banker at Digital Capital Advisors, LLC, a technology focused global investment bank. Previously, Andrew founded The Kickoff Group, a consulting and advisory firm focused on providing strategic advisory to early and growth-stage technology companies throughout their life cycle.
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LARRY PAGE: This Is Why We're Spending $12.5 Billion on Motorola
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LARRY PAGE: This Is Why We're Spending $12.5 Billion On Motorola
Jay Yarow
2011-08-15T12:07:00Z
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Google boss Larry Page
Here is Larry Page's full explanation of why his company is buying Motorola:
Since its launch in November 2007, Android has not only dramatically increased consumer choice but also improved the entire mobile experience for users. Today, more than 150 million Android devices have been activated worldwide—with over 550,000 devices now lit up every day—through a network of about 39 manufacturers and 231 carriers in 123 countries. Given Android’s phenomenal success, we are always looking for new ways to supercharge the Android ecosystem. That is why I am so excited today to announce that we have agreed to acquire Motorola.
Motorola has a history of over 80 years of innovation in communications technology and products, and in the development of intellectual property, which have helped drive the remarkable revolution in mobile computing we are all enjoying today. Its many industry milestones include the introduction of the world’s first portable cell phone nearly 30 years ago, and the StarTAC—the smallest and lightest phone on earth at time of launch. In 2007, Motorola was a founding member of the Open Handset Alliance that worked to make Android the first truly open and comprehensive platform for mobile devices. I have loved my Motorola phones from the StarTAC era up to the current DROIDs.
In 2008, Motorola bet big on Android as the sole operating system across all of its smartphone devices. It was a smart bet and we’re thrilled at the success they’ve achieved so far. We believe that their mobile business is on an upward trajectory and poised for explosive growth.
Motorola is also a market leader in the home devices and video solutions business. With the transition to Internet Protocol, we are excited to work together with Motorola and the industry to support our partners and cooperate with them to accelerate innovation in this space.
Motorola’s total commitment to Android in mobile devices is one of many reasons that there is a natural fit between our two companies. Together, we will create amazing user experiences that supercharge the entire Android ecosystem for the benefit of consumers, partners and developers everywhere.
This acquisition will not change our commitment to run Android as an open platform. Motorola will remain a licensee of Android and Android will remain open. We will run Motorola as a separate business. Many hardware partners have contributed to Android’s success and we look forward to continuing to work with all of them to deliver outstanding user experiences.
We recently explained how companies including Microsoft and Apple are banding together in anti-competitive patent attacks on Android. The U.S. Department of Justice had to intervene in the results of one recent patent auction to “protect competition and innovation in the open source software community” and it is currently looking into the results of the Nortel auction. Our acquisition of Motorola will increase competition by strengthening Google’s patent portfolio, which will enable us to better protect Android from anti-competitive threats from Microsoft, Apple and other companies.
The combination of Google and Motorola will not only supercharge Android, but will also enhance competition and offer consumers accelerating innovation, greater choice, and wonderful user experiences. I am confident that these great experiences will create huge value for shareholders.
I look forward to welcoming Motorolans to our family of Googlers.
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Here's One Thing Definitely Wrong About That Mashable-CNN Acquisition Report
http://www.businessinsider.com/cnn-mashable-acquisition-2012-3/comments
en-us
Wed, 31 Dec 1969 19:00:00 -0500
Thu, 05 May 2016 03:40:12 -0400
Dylan Love
http://www.businessinsider.com/c/4f5e22e369bedd32070000a0
Oye Aborishade
Mon, 12 Mar 2012 12:22:59 -0400
http://www.businessinsider.com/c/4f5e22e369bedd32070000a0
It is pretty standard to deny acquisition talks. As the Techcrunch article states, Michael Arrington was also tight-lipped until the deal struck.
I don't how you could have heard about Mashable revenue, they are super-secretive when it boils down to revenue figures.
I personally think Mashable could do 20 million annually, they have big events and almost double Techcrunch's pageviews. And Techcrunch managed 10 million | M&A | 0.999994 | [
{
"label": "M&A",
"score": 0.9999940395355225
}
] |
The Feds Mysteriously Acquired Five Years Of Kim Dotcom And Megaupload's Chat Transcripts - Business Insider
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The Feds Mysteriously Acquired Five Years Of Kim Dotcom And Megaupload's Chat Transcripts
Kevin Lincoln
Jan. 31, 2012,
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Kim Dotcom's lavish lifestyle, which he broadcast to the world over YouTube, might've been watched a little closer than even he imagined.
The U.S. government acquired five years' worth of conversations between Kim Dotcom and other Megaupload founders, CNET's Greg Sandoval and Declan McCullagh report.
Hints of the transcripts were found in the federal filings with a New Zealand court that allowed the arrest of Dotcom and others.
But Skype, on which many of the conversations were conducted, doesn't maintain records for more than 30 days and was never asked by the government to turn over transcripts, leading to the possibility that the Megaupload people were monitored through government-issued spyware.
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This Is What Eric Schmidt Thinks Is the Perfect Model for a Google Acquisition
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This Is What Eric Schmidt Thinks Is The Perfect Model For A Google Acquisition
Jay Yarow
2011-12-28T14:29:00Z
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What's the perfect company for Google to buy?According to chairman Eric Schmidt it's, "Four technical people who can solve a very precise problem, are brilliant and don’t have a high valuation."
Schmidt made this comment while speaking at The Economic Club of Washington. His interview was broadcast on CSPAN, and picked up by The Next Web.Google has acquired 50 companies this year. Some of them fit this criteria, some don't. (Ahem, MOTOROLA.) Click here to see the acquisitions we know about.For more highlights from his talk head over the The Next Web →
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WeWork's Adam Neumann Has Stakes in 4,000 Apartments Worth $1B: Report
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WeWork cofounder Adam Neumann has indirectly bought majority stakes in over 4,000 apartments worth more than $1 billion altogether, a report says
Kate Duffy
2022-01-04T12:28:12Z
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WeWork cofounder Adam Neumann.
Jackal Pan/Visual China Group via Getty Images
Adam Neumann has indirectly acquired majority stakes in more than 4,000 apartments, The WSJ reports.
The apartments, in cities including Nashville, Miami, and Fort Lauderdale, are together worth more than $1 billion, per the WSJ.
Neumann has said he wants to build a company to shake up the rental-housing market, according to WSJ sources.
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WeWork cofounder and former CEO Adam Neumann has indirectly acquired majority stakes in over 4,000 apartments valued at more than $1 billion altogether, The Wall Street Journal reported Tuesday.Neumann, who resigned as WeWork CEO in 2019 after the company's planned IPO imploded, has told associates he wants to build a company to shake up the rental-housing market, people familiar with the situation told The Journal.The apartments, which were acquired by entities tied to Neumann, are located in cities including Miami, Fort Lauderdale, Atlanta, Nashville, and Tennessee, The Journal said, citing court, corporate, and property records and people familiar with the transactions. The majority of the investments were made over the past year, The Journal said.Neumann is seeking to attract the same young professionals who were drawn into WeWork's trendy office spaces, people familiar with the situation told The Journal.
The WeWork cofounder has a 268-unit apartment block in Nashville, called Stacks on Main, The Journal reported. It has a rooftop deck, a park for dogs, and a saltwater pool, per the building's website.
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Zynga Has $300 Million to Spend on Acquisitions
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Zynga Has $300 Million To Spend On Acquisitions
Nicholas Carlson
2010-07-12T21:18:00Z
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PeHUB's Dan Primack just pointed out that if FarmVille-maker Zynga has indeed raised $100 million from Google, "that would bring its overall VC fundraise to over $340 million."Meanwhile, Zynga has reportedly never spent any of that money, is profitable, and will reach $700 million revenues in 2009.
So what's all that money for?The company won't comment, but a source close to Zynga tells us CEO Mark Pincus is "building a war chest for M&A and anything else that comes along."We'd speculate Zynga is stock-piling cash in order to buy out any of its smaller rivals that start to get too close in terms of daily active users on Facebook. Already this year, Zynga bought Serious Business. Who's next? Crowdstar? Playdom?Back in December 2009, shortly after EA acquired Zynga rival Playfish for something close to $400 million, Zynga CEO Mark Pincus told VentureBeat, "We would have liked it to be in the running to acquire or merge with Playfish."
"If our timing were different and we would have done this deal a quarter earlier, we might have been in a better position there."
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Twitter Wants To Start Buying Other Companies
Jay Yarow
Nov. 24, 2009,
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Twitter is looking to pick up a few talented developers through acquisitions says Biz Stone:
Reuters: "That is something we are definitely interested in," Stone told a news conference in Tel Aviv. "We made an acquisition last year that turned out to be an outstandingly good decision."
He said there was nothing specific on the horizon.
"As our attention is grabbed by some of these developers, we will take a hard look at them," Stone said.
Twitter bought search engine Summize in 2008.
He also added that Twitter will start making money next year through non-traditional advertising. He doesn't feel pressured to make money since Twitter has plenty in the bank.
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RBC Analysts Speculate About Apple Buying Disney
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Analysts are speculating about Apple buying Disney: 'A tech/media juggernaut like no other'
Rob Price
2017-04-13T10:00:00Z
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Disney
Could Apple buy Disney?It would be a huge deal, worth hundreds of billions of dollars — and that's what analysts are speculating about on Thursday.
Research from RBC Capital Markets says such a merger would produce a "tech/media juggernaut like no other" — the combination of the biggest tech company in the world and a near-century-old cultural titan."The resultant company would be massive, with enough cash and balance sheet capacity to change the nature of the hardware, service, and content industries," the analysts wrote in a note to investors."If there's a deal out there that would strike fear in the hearts of Silicon Valley and Hollywood, this could be it."But where is this speculation coming from? And how likely is it, really?Apple has hundreds of billions of dollars lying around
Apple CEO Tim Cook.
AP
First up, Apple has the cash for a deal — in theory. It has about $230 billion stashed overseas and is waiting to repatriate it back to the US. But it's not as simple as transferring it from one account to another — it could incur a huge tax bill when it does, so it wants to ensure it gets the best deal it can.CEO Tim Cook has said he's "optimistic" about changes to US tax laws in 2017, meaning repatriation without paying a huge corporate tax penalty — after years of waiting — may be a real possibility.Disney wouldn't come cheapWith that in mind, Disney isn't exactly pocket change. RBC's analysts estimate Apple would pay a 40% premium on Disney's share price — costing it a cool $237 billion. With about $200 billion of repatriated cash to spend after
taxes
, the shortfall would be made up by debt.It's an order of magnitude larger than previous acquisitions carried out by Apple — the largest of which has been the music company Beats for $2.2 billion.But people are definitely alive to the possibility. RBC's analysts says investors are "frequently" asking them "whether Disney is an acquisition target for Apple."
But why?We're getting a little ahead of ourselves here. Why might Apple try to buy Disney in the first place? Well, there a few key reasons.It would diversify Apple away from the iPhone. Apple today depends on the iPhone for more than 60% of its revenue. It's a phenomenally successful product, but that level of dependence also makes Apple vulnerable to changes in the market.It would boost Apple's services business. In a slowing global smartphone market, Apple is looking for avenues for growth — and services (subscriptions like Apple Music) is a key one for the company. Disney, with its vast library of content and subscription assets like ESPN, would turbo-charge this division.It would create a streaming giant capable of taking on Netflix and Amazon. With Apple's tech expertise and Disney's content library, it could produce a product in the streaming market capable of going toe-to-toe with the dominant players like Netflix. "Neither entity has chosen to enter the digital streaming market whole-hog arguably because competition and/or returns are a challenge," RBC writes. "But together, DIS and AAPL would instantly have access to global distribution (via AAPL's installed base and the global iTunes store) and a massive library of content + studio capacity (via DIS) to make future movies and shows."The deal could benefit Apple shareholders financially. RBC analysts estimate that a Disney acquisition would be 18% accretive to earnings per share for Apple shareholders.The history: Steve Jobs, the late CEO of Apple, was the largest shareholder in the Disney animation studio Pixar. So there is that.So ... will this actually happen?
Disney CEO Bob Iger with Steve Jobs.
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RBC's research seems to be driven by speculation and questions from investors, rather than by internal gossip or hard evidence of any theoretical talks between the two firms.Its analysts acknowledge that they consider it only a "'greater than 0%' probability event."There has been speculation and recommendations about such a deal for years. Veteran US cable executive John Malone said in 2016 that Apple could be interested in Disney if ESPN were spun off. Plus the companies already have some links, with Disney CEO Bob Iger sitting on Apple's board.If it ever happened, a merger would be a monumental corporate event, giving the combined entity "unrivaled scale in content creation and distribution with the potential to create an instantly competitive global SVOD/streaming service. And, a massive balance sheet and technical capability to pursue future sports rights and protect live viewership moats, and integration of AAPL technologies into DIS Parks and Consumer Products," RBC says.Lastly, here's RBC's analysts on the "best justification" for a deal:"The best justification for such a mega deal, in our view, is the ability to do things together that neither company, nor any other company, could do. The sheer scale of a combined company offers some unique opportunities, and we've tried to identify some of the more compelling ones below."More importantly, Apple and Disney are each not just industry leaders in their own right but titans of industry on a global scale with truly unique products and services. Few people on earth are not already familiar with both companies' products, yet they don't compete in any meaningful sphere at the moment. The question therefore becomes what can they do together that they can't do apart? The answer is they can do just about anything given the technology and financial resources."
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Open Road Films Acquires Rights To 'jOBS' After Bidding War Over The Ashton Kutcher Flick - Business Insider
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Open Road Films Acquires Rights To 'jOBS' After Bidding War Over The Ashton Kutcher Flick
Lucas Shaw, The Wrap
Jan.
3, 2013,
3:04 PM
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SundanceAshton Kutcher plays Steve Jobs in the upcoming biopic.Open Road Films has acquired domestic distribution rights to ‘jOBS,” the upcoming Steve Jobs biopic starring Ashton Kutcher as the Apple co-founder.
The film will premiere on the closing night of the 2013 Sundance Film Festival, but this deal takes the movie off the table before the public debut. Inferno Entertainment is handling international sales.
Deadline Hollywood reported on Wednesday that Open Road was negotiating to acquire the project in a service deal with the producers, who would put money up for P&A. Open Road has not clarified whether that is true, and the release reports the deal as a partnership.
The film, written by Matthew Whitley and directed by Joshua Michael Stern, chronicles Jobs from 1971 to 2000. That span covers Apple's initial rise, its fall, Jobs' departure from the company, his founding of NeXT computers, his time at Pixar, and his return to Apple. It concludes before the release of a series of products like the iPhone and iPad that transformed Apple into the world's most prominent technology company.
Stern and Whitley paint an intimate portrait of the irascible visionary, and the filmmakers received access to the garage where Jobs, Steve Wozniak and their friends founded Apple.
"jOBS is certain to resonate with audiences and we are thrilled to partner with Five Star Feature Films to bring this film to theaters,” Open Road Films CEO Tom Ortenberg said in a statement.
Kutcher stars as the eponymous cultural icon and Dermot Mulroney, Josh Gad, J.K. Simmons and Matthew Modine fill out the cast.
"We set out to find the perfect partners to present jOBS to audiences worldwide, and we feel we have found one with Open Road," Mark Hulme, the head of Fvie Star Feature Films and a producer of the film, said in a statement. "They were as impressed as we were with Ashton Kutcher's inspiring and unforgettable performance as Steve Jobs and are excited to distribute the picture in the U.S."
Sony is planning its own Jobs biopic, based on Walter Isaacson's critically and commercially successful biography. Aaron Sorkin is adapting the book, though he also remains the showrunner for HBO's "The Newsroom."
Read the original article on The Wrap.
Copyright 2013. Follow The Wrap on Twitter.
More from The Wrap:
‘Creed’ Comes Through Like a Champ in Box Office Debut
Tribune, LA Times Near Sale, Says Rupert Murdoch
Planned Parenthood Shooting: 3 Killed, Including 1 Police Officer
SEE ALSO: 21 Films You Need To See In 2013
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Open Road Films Acquires Rights To 'jOBS' After Bidding War Over The Ashton Kutcher Flick
Open Road Films Acquires Rights To 'jOBS' After Bidding War Over The Ashton Kutcher Flick
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