Startup News roundup for Week ending 19th November
News you can use
LinkedIn Startups: The 50 industry disruptors you need to know now – Daniel Roth, Editor in Chief of LinkedIn recently published a review of some of the most iconic ‘startups’ of our time (link). He introduces the topic stating “Some of the most fascinating businesses today are startups. Sensing a chance to transform (or take over) a market, founders are channeling their seemingly endless flow of venture funds into new ideas — and top talent. We wanted to see which startups were winning the talent game. Who are the 50 most in-demand upstarts in the U.S. today?”
Corporate Startup Ventures and M&A
Volvo parent Geely acquires flying-car startup Terrafugia – There’s still a whole lot of debate as to whether or not flying cars will even come into existence. But one automaker is so aligned with the idea that it’s purchased a whole startup devoted to exactly that. Geely, the Chinese company currently in charge of both Volvo and Lotus, has completed its acquisition of flying-car startup Terrafugia, the company announced in a press release Monday. Rumors of an acquisition appeared in July, and it’s apparently taken until November to finish the process.
Startups that failed last week
Space start-up Xcor Aerospace fails to find a backer, files for bankruptcy – Once a darling of the Mojave aerospace start-up scene, space plane builder Xcor Aerospace has filed for Chapter 7 bankruptcy. A court document filed last week with the U.S. Bankruptcy Court for the Eastern District of California says the company has more than 100 creditors and assets estimated between $1 million and $10 million.
TechShop DIY Incubators shut shop – TechShop, a chain of membership-based, open-access, do-it-yourself (DIY) workshops and fabrication studios announced it is shutting down.