Roundup of news and ideas from the world of startups – Week ending 24th Nov 2019.
News you can use
Wall Street Journal lists Purdue No. 3 nationally, No. 6 globally in startup creation from university technologies – The Wall Street Journal lists Purdue University sixth-best globally and third-best in the U.S. in a recent article highlighting startups generated from university-licensed technologies over the past 12 months.According to the article, ETH Zurich and the University of Cambridge top the list with 33 startups originating from university-licensed intellectual property. Massachusetts Institute of Technology and the University of Oxford follow with 28 startups each, Stanford University has 17, Purdue created 16 followed by Harvard University with 15 within the past 12 months.
Notre Dame startup success: Siemens expands additive manufacturing portfolio with acquisition of Atlas 3D – Atlas 3D, an Indiana startup assigned technology by the University of Notre Dame, will be acquired by Siemens, a global technology corporation and pioneer in software solutions for industry. The company will join Siemens Digital Industries Software, where its solutions will expand Siemens’ additive manufacturing software capabilities. Founded in April 2017 as a spinout company of Plymouth, Indiana-based ITAMCO (Indiana Tool & Mfg. Co., Inc.), Atlas 3D provides computer-based optimization of metal 3D printing that heightens efficiency and lowers costs by replacing traditional trial-and-error production methods with advanced computer simulations. Atlas 3D’s lead product, the cloud-based, GPU-accelerated Sunata™ software, is able to identify how best to orient and support parts for metal 3D printing by simulating more than 100 intelligently selected orientations in near real time.
Startup Merger and Acquisitions
PayPal to acquire shopping and rewards platform Honey for $4B – PayPal announced today it has agreed to acquire Honey Science Corporation, the makers of a deal-finding browser add-on and mobile application, for $4 billion, mostly cash. The acquisition, which is PayPal’s largest to date, will give the payments giant a foothold earlier in the customer’s shopping journey. Instead of only competing on the checkout page against credit cards or Apple Pay, for example, PayPal will leap ahead to become a part of the deal discovery process, as well.
Google acquires CloudSimple to bring more VMware workloads into its cloud – Google LLC has acquired CloudSimple Inc., a Santa Clara, California-based startup with a software platform that makes it easier for companies to move their on-premises applications to the cloud. The search giant didn’t disclose the purchase price in the acquisition announcement this morning. CloudSimple raised a seed investment from Microsoft Corp. in 2016 and lists 77 employees on its LinkedIn profile.
WeWork Buys Software Startup Teem for $100 million – WeWork, a company that provides shared workspaces for startups, has made its third-largest acquisition to date. This is their fourth acquisition of 2018, and it will purchase Teem, a maker of office management software for $100 million in cash. Last year, WeWork acquired five different companies, including Meetup, a site that organizes group trips and events. WeWork reportedly paid $200 million for the site. It also bought the Chinese co-working startup Naked Hub for $400 million. WeWork appears to have chosen to pick up Teem due to its desire to provide a growing base of corporate customers with more features like “insights” to help make their spaces more productive.
Digital Media Startup Zumi Shuts Shop – The African lifestyle and fashion focused media platform Zumi announced that it is shutting shop after struggling to make decent revenues as well as raise capital.
Launched in 2016, Zumi had raised over USD 250K from Chandaria Capital, UAE based Majlis investment and a few other investors. Founded by Ex-Rocket Internet Africa Employees William McCarren and Sabrina Dorman, Zumi was planning to pivot into an eCommerce platform as advertising revenue didn’t pick up.
Doodhwala shuts down operations; FreshToHome takes over its consumer base – Microdelivery business (aka subscription commerce) isn’t an easy business as making money through selling milk is tough. We have witnessed the shutdowns of several startups as well as the consolidation of a few with large companies interested in the space. The segment seems to have seen another casualty. Bengaluru-based Doodhwala has stopped operations due to certain undisclosed constraints. According to an email sent to its subscribers, FreshToHome will continue to service Doodhwala’s customer base in Bengaluru.