Roundup of news and ideas from the world of startups – Week ending 18th March 2018
News you can use
High Speed Trading and Artificial Intelligence – We are beginning to see the increased adoption of machine-enabled investment management techniques including high speed trading, stock picking and portfolio re-balancing. Many of these activities are performed by skilled humans, traders trained in mathematical and analytical techniques who follow the steps highlighted above starting from Data Gathering to the implementation of a course of action.
BlackBerry sues Facebook, WhatsApp, Instagram over patent infringement: What’s the big deal?
This week, Blackberry (NYSE: BB), the tech giant that ‘invented’ smartphones, filed a patent infringement lawsuit against Facebook, whatsapp and instagram in the Los Angeles federal court. Blackberry’s move highlights a number of significant issues with patents, including monetizing their ‘value,’ the investment in portfolio of patents, and their role in protecting investments in Research and Development.
Corporate M&A
Digital payments firm Wibmo acquires start-up Mypoolin – US-based digital payment company Wibmo Inc has bought Bengaluru-based payment solution provider Mypoolin in a cash and stock deal. The Wibmo-Mypoolin deal was valued above $1 million and all existing investors will get a combination of stock and cash
Startup shut and failed last week
DSW abandons and liquidates Ebuys – There are different reasons why startups succeed and fail. Many startups get acquired and begin to enhance the value of the acquiring firm. A couple of years ago, the footwear and accessories retailer DSW announced it was acquiring Ebuys for $62.5 million to enhance its eCommerce capabilities. On Tuesday, the retailer announced it was shuttering the Ebuys business.
Pet Care Startup Baroo Shuts Down – This week, Baroo, a Boston-based pet care startup, announced it was shutting down operations. Based in Boston, Baroo had over 100-person staff, including 100 part-time pet handlers who provide building residents with $20 dog walks, $70-a-night pet-sitting, and grooming services that run as high as $600. Founded in 2015, Baroo had raised $3.5 million in funding.