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Updated: 1 hour 6 min ago

Progressive coalition launches pressure campaign on FTC to split up Facebook

2 hours 11 min ago
A coalition of progressive activist groups is launching a new campaign this week to pressure the Federal Trade Commission to break up Menlo Park-based Facebook into four competing companies. The group, called Freedom From Facebook, is launching a six-figure digital ad campaign urging the FTC to split Instagram, WhatsApp and Messenger into competing, standalone businesses, Axios reports. The group also wants Facebook to strengthen its privacy policies and allow users from competing social networks…

Bank of America rolls out AI assistant Erica to all mobile customers

2 hours 21 min ago
Bank of America Corp. (NYSE: BAC) is rolling out its virtual financial assistant Erica to all of its 25 million mobile customers over the next few weeks. Erica is artificial intelligence-driven, and helps Bank of America app users access balance information, transfer money between accounts, send money with Zelle and schedule meetings at financial centers. Customers can interact with Erica via voice commands, texting or touch. “Everything we do is based on what we hear from our clients: how they…

Creating while disrupting: Root Insurance's plan to add 460 workers keeps jobs in Columbus while challenging industry models

2 hours 39 min ago
Columbus is home to five large property and casualty insurance companies – and digital-first auto and dental startups that could disrupt the industry but pledge to keep and grow jobs, including by drawing from out of state and other industries.

Cerner doubles $500M stock repurchase program

2 hours 43 min ago
Cerner Corp. will double a previously announced stock buyback plan, the company announced Monday. Cerner previously approved a $500 million stock repurchase in May 2017; at the company's board meeting on Thursday, Cerner (Nasdaq: CERN) approved an additional $500 million, for a total of $1 billion. "The Board of Directors and our leadership team believe Cerner's shares are an attractive investment, and share repurchases are an important part of our capital allocation strategy," Cerner CFO Marc Naughton…

New Pitt institute to provide hub for computer modeling, simulation

3 hours 11 min ago
University of Pittsburgh's School of Computing and Information announced the launch of a new institute to analyze data through computer modeling and simulation. The Modeling and Managing Complicated Systems, or MoMaCS, Institute was launched Monday during the school's Modeling the World Systems Conference in downtown Pittsburgh, according to a news release. The institute will bring together researchers from academia, industry, foundations and government to collaborate on projects, the release said. “It…

CommerceHub no longer listed on the Nasdaq as company is sold

3 hours 14 min ago
CommerceHub will no longer be listed on the Nasdaq stock exchange after the company was sold to two private equity firms on Monday. The Albany-based tech company was acquired by the private equity firms GTCR and Sycamore Partners in an all-cash deal, estimated to be worth around $1.1 billion. Shareholders approved the acquisition on Friday and the sale closed on Monday. CommerceHub’s Series A and Series C stock are no longer listed for trading on Nasdaq. CommerceHub’s Series B stock is…

Polaris Alpha is the latest government contractor to be acquired

3 hours 14 min ago
Engineering giant Parsons is broadening its footprint in defense, space and intelligence with a deal to acquire government technology contractor Polaris Alpha. Polaris Alpha is the product of private equity firm Arlington Capital’s June 2016 acquisition of EOIR Technologies of Fredericksburg, Virginia, which it merged that November with Intelligent Software Solutions of Colorado Springs and Proteus Technologies of Annapolis Junction, Maryland. The combined company boasted 1,100 employees and $250…

Data intelligence startup Cuebiq secures $27M in venture capital

3 hours 35 min ago
New York-area startups and venture capitalists are making funding deals with the hopes of creating the next profitable company. Here's one deal announced Monday: Who gets: Cuebiq, a New York-based location intelligence and consumer insights company, raised a new round of funding. Amount raised: $27 million in series B funding. The New York City-based startup previously raised $3.5 million in series A funding. Who invests: Goldman Sachs Principal Strategic Investments (PSI) — a venture capital…

Roper's $1.1 billion deal gives it more power in the software sector

3 hours 36 min ago
Roper Technologies Inc. has a definitive agreement to acquire PowerPlan in a $1.1 billion all-cash transaction. The deal strengthens Roper Technologies’ (NYSE: ROP) growing presence in the software sector. Roper, headquartered in Sarasota, is among the Tampa Bay area’s largest public companies, with $4.6 billion in 2017 revenue; Roper is No. 552 on the 2018 Fortune 1,000. PowerPlan, headquartered in Atlanta, works with companies that have a lot of fixed assets, helping them with enhanced financial,…

Meet the Florida startups that early-stage investors say hold the most promise

3 hours 37 min ago
Tomahawk Robotics, a Melbourne company that designs and builds robots, and Gridics, a Miami-based software company, were the winners at the Florida Venture Forum Early Stage Capital Conference in Tampa. The two firms, chosen by a panel of judges from a field of 20 companies, each won $25,000 from Space Florida. In addition to providing capital, early stage events provide a vital opportunity to showcase Florida’s flourishing startup ecosystems, Frank DiBello, Space Florida president and CEO, said…

Exclusive: Roku is seeking a big new HQ space and is zeroing in on a San Jose development

Fri, 05/18/2018 - 6:21pm
Los Gatos-based Roku has been subleasing space from its longtime business ally, Netflix, for years. But the TV streaming platform company has grown rapidly and industry insiders say it is now looking seriously at hundreds of thousands of square feet at a new San Jose development.

Square, Facebook, other Silicon Valley executives are popular choice for nation’s boardrooms

Fri, 05/18/2018 - 5:43pm
Major companies are tapping executives from some of the Bay Area’s most successful companies as directors, spreading the region’s influence, innovation and Silicon Valley ethos into the boardrooms of some of the nation’s biggest companies. The trend also reflects the caliber of talent working at Bay Area startups.

What Black Girls Code founder says Silicon Valley still gets wrong in fixing its diversity problem

Fri, 05/18/2018 - 5:41pm
Bryant said Silicon Valley companies still struggle to create a safe place for black tech talent.

These self-driving and transportation tech companies raked in major VC funding in 2017

Fri, 05/18/2018 - 5:25pm
People are eager to try new methods of transportation, and there’s massive venture capital funding to prove it. Bay Area companies working on self-driving vehicles and transportation technology landed big bucks in 2017. One way to get a sense of the money flowing into the space globally is to look just at the autonomous vehicle portion of it, where some $4 billion went to companies working on tech related to self-driving vehicles, according to PitchBook. That was a huge bump up from $626 million…

EXCLUSIVE: Here's how much Phoenix drivers have earned in the past year under Lyft's rental-car program

Fri, 05/18/2018 - 5:25pm
Lyft drivers have earned over $450 million nationwide since the program started in 2016.

Tesla bear Goldman Sachs predicts Musk might need to raise $10B in debt to stay afloat

Fri, 05/18/2018 - 4:51pm
Palo Alto, California-based electric automaker Tesla is burning through cash so quickly it may have to raise up to $10 billion in new debt within the next 18 months to stay in business, analysts at Goldman Sachs said in a new research note on Thursday. That directly contradicts CEO Elon Musk, who’s twice told investors his company will achieve profitability this year and raise no additional capital in 2018. Goldman Sachs analyst David Tamberrino isn’t convinced. In his latest note, he said…

What Kevin Plank learned from Jeff Bezos about overcoming adversity

Fri, 05/18/2018 - 4:44pm
Under Armour Inc. CEO Kevin Plank says he's learning to be more humble and how to handle criticism better. As an entrepreneur who built a small T-shirt company into a $5 billion global corporation, Plank likes to punch back when he hears criticism. But he said he is evolving as a CEO. Plank was asked how he deals with adversity and naysayers during a fireside chat with St. Frances Academy Principal Curtis Turner at a fundraiser event Thursday night at M&T Bank Stadium. To answer the question, Plank…

Prolific investor jumps into Mid-Market with $110 million deal for 1390 Market St. in San Francisco

Fri, 05/18/2018 - 4:30pm
Prolific deal-maker Swift Real Estate Partners picked up its first office building in San Francisco’s Mid-Market area. The investor snapped up the first 12 floors consisting of 220,000 square feet of office and ground-floor retail in 1390 Market St. from Broadreach Capital Partners. The price was $110 million or about $500 per square foot, according to a source familiar with the deal. The 29-story tower, formerly known as Fox Plaza, includes apartments on the upper floors owned by San Mateo-based…

Tablet maker Xplore expands executive team, launches first handheld device

Fri, 05/18/2018 - 3:46pm
A six-inch handheld Android device, a new COO, CFO and CRO — there are a lot of changes going on at this computer maker that was cranking out tablets 14 years before the iPad debuted.

Fast-growing Lawn Buddy setting new milestones as it readies new offerings

Fri, 05/18/2018 - 3:41pm
As its lawn care provider network expands all across the country, Lawn Buddy will roll out an option this summer to bring the same hand-held management capability to businesses in other industries.

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