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Updated: 7 hours 57 min ago

Lavu acquires Bay Area tech startup

Thu, 08/08/2019 - 9:38am
Albuquerque restaurant point-of-sale and services company Lavu has acquired Sourcery, a Bay Area tech startup that provides an accounts payable solution and helps manage operations. The deal closed last week for an undisclosed amount after three months of negotiations. Sourcery General Manager Teri Wilson said it will bring needed food service expertise to Sourcery, and a more inclusive platform to customers. The company's staff of around a dozen will stay in California and is not expected to change…

Fortnite's World Cup (and its $30 million purse) provided a huge new stage for esports

Wed, 08/07/2019 - 7:51pm
The Fortnite World Cup showed the gaming world that major events can be held around the series while also using the game’s cachet to bring esports closer to the mainstream.

Groupon launches $5/month membership program

Wed, 08/07/2019 - 7:49pm
Groupon is rolling out a membership program that it hopes will keep customers coming back more frequently and spending more while they shop. Groupon (Nasdaq: GRPN) announced Tuesday that it launched Groupon Select, a $5 per month membership program that gives Groupon customers extra discounts and free shipping. Groupon Select members get discounts on Groupon’s local services, experiences, travel and goods. The company began quietly rolling out the program last year and says it already has 150,000…

B2B healthcare software startup TimeDoc Health raises $2.5M

Wed, 08/07/2019 - 7:47pm
A Chicago startup that’s helping physicians better care for chronically-ill patients has raised a round of funding as it expands and improves its B2B software platform. TimeDoc Health announced Wednesday that it raised $2.5 million in a funding round led by Grand Ventures, a Grand Rapids, Mich.-based venture firm that invests in early-stage companies. Champaign, Ill.-based Serra Ventures and Columbus-based Break Trail Ventures also participated. TimeDoc, founded in 2015, provides healthcare…

Phoenix semi-truck maker wins $1.7M federal grant for fuel cell research

Wed, 08/07/2019 - 7:44pm
As Nikola Motor Co. prepares to build 700 hydrogen fueling stations across the U.S. and Canada by 2028, the Phoenix-based hydrogen-electric truck company received a hefty chunk of money to advance its research. The U.S. Department of Energy has awarded Nikola a $1.7 million grant to help its research of fuel cell membrane electrode assembly development. Nikola is partnering with leaders from Carnegie Mellon University, Northeastern University and Georgia Institute of Technology on its fuel cell…

Microsoft executive joins Alaska Air Group's board

Wed, 08/07/2019 - 7:36pm
Alaska Air Group said Wednesday it's appointed top Microsoft executive Kathleen Hogan to join the airline's board. Hogan, a Microsoft executive vice president of human resources, is the Redmond-based company's chief people officer. She joins another high-powered technology executive on Alaska's board: Susan Li, a vice president of finance at Facebook, who joined in 2018. Hogan's appointment to Alaska's board is for a newly created seat, the SeaTac-based airline said, and demonstrates its commitment…

Zillow expands home-buying business as it brings company revenue to nearly $600M

Wed, 08/07/2019 - 7:15pm
More than 170,000 homeowners have requested an offer from Zillow to buy their home since the service launched in April 2018.

Angi Homeservices CEO talks possible spinoff from parent company

Wed, 08/07/2019 - 5:58pm
"Ultimately if we’re spun out, that’s an adventure on its own."

Bay Area snags majority of 15 highest-paying non-tech jobs at tech companies

Wed, 08/07/2019 - 5:52pm
Not a geek? Not a problem in the Bay Area. It turns out that a number of non-technical positions at tech companies in the Bay Area pay six-figure salaries, according to a report by online career site Comparably. Of the top 15 popular non-tech positions at tech companies across the nation, the Bay Area pays the highest average salaries for 12 of these positions, the survey found. The report includes anonymous, self-reported salary records of 21,936 employees in non-technical positions across the…

Social impact accelerator Finnovation Lab introduces second cohort

Wed, 08/07/2019 - 5:41pm
Editor's note: This story came from our online sister publication, Minne Inno, which focuses on the Twin Cities startup scene. Want more stories about tech and innovation in the Minneapolis-St. Paul area? Subscribe to the Beat by Minne Inno, a free daily email newsletter that breaks down everything you need to know about what's new in business the Twin Cities. Finnovation Lab, a startup accelerator for social impact businesses created by Finnegans Brew Co., has selected nine founders for its…

Digital supply chain tracking service Cloudleaf raises $26M from investors including Intel Capital

Wed, 08/07/2019 - 5:22pm
The Series B funding round also included investment from BluePointe Ventures, Bold Capital Partners, Mahindra Partners and Tandem Capital.

Which 11 Bay Area tech IPOs went boom and not bust in 2019

Wed, 08/07/2019 - 10:18am
Nearly a dozen Bay Area tech IPOs stormed onto the public markets this year, with roughly two-thirds of these offerings beating the average first-day gain for U.S. tech IPOs so far in 2019. Based on the 11 Bay Area tech IPOs, seven managed to beat the average first-day gain of 34.1 percent, according to data provided to the San Francisco Business Times by Renaissance Capital, provider of institutional research and IPO exchange-traded funds (ETFs). And two of the tech IPOs — cybersecurity company…

LanzaTech raises $72 million to turn pollution into fuel

Wed, 08/07/2019 - 9:55am
Chicago-based LanzaTech has landed a large round of funding for its climate change-fighting solution that turns pollution into jet fuel and other reusable materials. LanzaTech announced Tuesday that it has raised $72 million in a Series E round from Novo Holdings, a Danish investment firm that backs life science companies. The round brings LanzaTech’s total funding to more than $300 million since it was founded in 2005. Want more stories about tech and innovation in Chicago? Subscribe to…

Tastytrade brings ‘Dough’ brand back to life with $20 million investment

Wed, 08/07/2019 - 9:54am
Tastytrade, the Chicago fintech company offering free, accessible content about trading and finance for active investors, has invested $20 million into a new company it’s building. Dough, which is named after Tastytrade’s previous front-end trading application that shut down in 2017, is being led by the former director of trading and operations at TD Ameritrade, Victor Jones. He said the new company, a wholly owned subsidiary of Tastytrade, is an independent broker dealer where users can trade…

Former Tinder marketing chief sues ex-CEO claiming sexual assault

Wed, 08/07/2019 - 9:46am
The former marketing head at dating app Tinder is suing former Match Group and Tinder CEO Gregory Blatt, claiming sexual assault. In the lawsuit, Rosette Pambakian also accuses IAC/InterActiveCorp (Nasdaq: IAC), where Blatt formerly served as CEO, of covering up the assault and for wrongful termination for speaking out. According to Pambakian's suit, which was filed Monday in Los Angeles Superior Court, Blatt assaulted her at Tinder’s holiday party at a hotel in Beverly Hills in December 2016.…

Lockheed Martin Space wins $405M U.S. military contract for 'hypersonic' missiles

Wed, 08/07/2019 - 9:43am
Russia and China are said to be developing similar technology.

SailPoint stock rallies after optimistic earnings report, busy second quarter

Wed, 08/07/2019 - 9:16am
SailPoint Technologies Holdings Inc. culminated a busy second quarter with an earnings report that pleasantly surprised Wall Street. Austin-based SailPoint (NYSE: SAIL) reported Aug. 6 total revenue of $63.1 million for the three months that ended June 30, an 18% increase from the same span in 2018. The cybersecurity company also said in the securities filing that it had a second-quarter net loss of $9.2 million, up from $979,000 during the second quarter in 2018. But on an adjusted basis SailPoint…

Dallas area’s data center market hits slowdown amid inventory buildup

Wed, 08/07/2019 - 8:45am
There are signals of some pick-up in demand as CBRE release report on DFW for first half of 2019.

Kids programmed robots in Amazon's D.C. office. It was fun — and HQ2 workforce development.

Wed, 08/07/2019 - 8:43am
Ardine Williams, vice president of workforce development for Inc.'s second headquarters, gestured to young children playing with robots in the company's Washington, D.C. office Tuesday. "This is workforce development," she said. Inside the conference room, boys and girls watched golf ball-sized robots they programmed maneuver tight corners of paper mazes. By the end of the summer, Amazon (NASDAQ: AMZN) hopes to have hosted about 200 kindergarten to high school-aged students from schools…

Leawood's C2FO lands $200M investment

Wed, 08/07/2019 - 8:40am
When C2FO raised $100 million in early 2018, it was thought to be the largest investment round at the time for a Kansas City-area company. Its latest funding round, however, doubles that amount.  SoftBank Vision Fund led the $200 million funding round, which also included existing investors Temasek and Union Square Ventures. As part of the deal, Nahoko Hoshino will join the C2FO board of directors on behalf of SoftBank Investment Advisers, according to a release.  C2FO, the world's largest market…