Roundup of news and ideas from the world of startups – Week ending 29thJuly 2018
News you can use
21 technical Alexa skills IT pros should know – We have featured trends in Voice activated UI and systems in the past (Alexa for Business service brings Voice services to your office and Catch them young! Amazon offers $250,000 prize fund for Alexa skills aimed at kids ). Alexa skills can help you with things like network diagnostics, IP address lookups, and programming questions. Check out this categorized list and see what functions you might find helpful.
Startups Select IBM Cloud to Drive Innovation – IBM (NYSE: IBM) recently announced several startups across industries and geographies as examples of a strong increase of startup companies that have turned to the IBM Cloud for AI, blockchain and Internet of Things (IoT) technologies, as well as the ability to scale globally. They include AI sports startup VitRuvian Sports Systems, IoT waste management solution GreenQ, and a blockchain-based digital identity provider, Blinking, amongst others.
Corporate M&A
Facebook Buys Redkix, an Israeli Messaging Startup, to Compete With Slack – Facebook has acquired the Israeli messaging-technology startup Redkix to buttress its Workplace by Facebook collaborative platform, the social media giant said Thursday. The price was not disclosed but was reportedly in the tens of millions of dollars. The acquisition is part of Facebook’s efforts to compete with Slack, a popular organizational messaging platform that is used by high-tech firms and the developer community. Redkix, which was founded in 2014 by serial entrepreneur brothers Oudi and Roy Antebi, has developed a system with email that functions like chat designed primarily for organizations. The company raised $17 million in seed-stage funding from investors including the investment arm of Salesforce.com, Wicklow Capital and SG VC as well as angel investors Oren Ze’ev, Ori Sasson and Amnon Landan. Redkix is a relatively small Israeli purchase Facebook after companies such as Onavo and Face.com, for which it paid $150 million and $100 million, respectively. (Refaella Goichman)
Xilinx acquires China AI chip startup – Xilinx has acquired DeePhi Technology, a Beijing-based AI chip startup specializing in deep compression, pruning and system-level optimization for neural networks, according to the US-based FPGA specialist. The financial terms of the transaction are undisclosed.
Korea’s No. 1 Hotel App Buys Rocket-Backed Startup Zen Rooms – The creator of South Korea’s most popular hotel app is taking over a Southeast Asian startup backed by Rocket Internet SE to bet on the region’s booming travel industry. Yanolja Co., which offers online booking for 20,000 lodgings in South Korea, will invest $15 million in Singapore-based Zen Rooms in return for a controlling stake, the Seoul-based company said in a statement. Zen operates in several countries including Indonesia, Thailand and Malaysia, offering a digital booking platform for budget hotels.
Why This Chicago Charter Bus Company Acquired a Tech Startup – A Chicago-based charter bus company that’s been around for more than 15 years has, like many other long-standing and established corporations, made moves to remain tech-forward as consumers increasingly want to use the internet and their phones to get things done. BusBank, which takes and organizes group transportation reservations through charter busses, was founded in 2001 by Bill Maulsby. At the time, BusBank was considered a tech-forward company simply because it had a website.
Startup shut and failed last week
Twitter Shuts down Online Safety Company Smyte after acquiring it – Social media giant, Twitter, announced that it had acquired Smyte, a startup focused on delivering online safety and anti-spam solutions. Interestingly, a day after the acquisition was announced, Twitter shut down the Smyte .
Chinese bike-sharing firm on the verge of shutdown fires India staff – The Chinese bike rental company Ofo has shut down its operations in India and fired most of its 30 employees in India. The Alibaba-backed startup had launched operations in India in January 2018. Ofo, which offers station-free bikes operated via an app, claimed to have completed 1.1 million rides within four months in India.
Bluechip angels and Tracxn backed foodtech startup Twigly shuts down – While foodtech majors (Zomato and Swiggy) in India enjoying their best days in terms of scale and fundraising, the space has always been extremely difficult for small players. In yet another case of shutting down, food-ordering startup Twigly has abandoned its services almost after three years of operations.
VC-funded cookie startup Doughbies shuts down – This week, founders of the VC-funded cookie startup Doughbies posted a Youtube viedo announcing they were shutting down. “Team Doughbies is moving on. Click here to learn more!“