Digital Startup news roundup – Week ending 4th Feb


Roundup of news and ideas from the world of startups – Week ending 4th Feb 2018

News you can use

Walmart, Disney back anti-slavery technology startup Humanity United has joined forces with Walmart, Disney and the British government to create Working Capital, a new investment fund targeted at furthering technological innovation working toward freeing supply chains from modern slavery.

Elon Musk’s Startup Has Sold Out Of Flamethrowers – If you haven’t already pre-ordered your flamethrower from Elon Musk’s tunnel startup The Boring Company, you are out of luck. Musk, the Silicon Valley entrepreneur extraordinaire, announced early Thursday his company has sold out of the 20,000 flamethrowers it plans to build. At $500 a piece, the pre-orders have generated $10 million in sales.

Why Your Startup Needed A Chief People Officer Yesterday – You may have heard the expression that “Entrepreneurship is like building a plane while you’re flying.” I fully co-sign this sentiment, as it’s been my life for the past 10+ years! While the constant pursuit of business growth and momentum can be thrilling, there will be times where it will be important to pause the flight to ensure that said plane is being built to withstand the journey ahead. As a CEO, my focus has mainly been on building products and services that would ensure my company’s place in the market by meeting the needs of our members and clients. My focus is outward. During a recent pause on this building journey, it dawned on me that I needed a resource, fully focused on the amazing people creating these products and services. Enter my Chief People Officer (CPO), whose sole focus will be inward.

Corporate M&A

Twitter, Craigslist Co-Founders Back Fact-Checking Startup Factmata – Twitter Inc. co-founder Biz Stone and Craigslist Inc. co-founder Craig Newmark are investing in London-based fact-checking startup Factmata, the company said Thursday. It declined to disclose either the amount of the investment or the valuation of the deal.

BP’s invested in electric car charging startup FreeWire – BP is turning to a tech startup, making an investment in the maker of mobile charging points for electric cars. The oil major is putting $5m (£3.5m) into FreeWire, a three-year-old San-Francicsco tech company, as part of a series A funding round with other investors via its corporate venture arm.

Uber sells its leasing business to startup Fair.com – Uber announced Tuesday that it is selling its car-leasing subsidiary to Santa Monica-based tech startup Fair.com.The move allows Uber to concentrate on its core business while still offering drivers without cars the ability to lease a vehicle for a month or more in order to drive for the ride-hailing company.Fair.com, which launched in Los Angeles in August and earlier this month expanded to San Diego and San Francisco, will acquire the active lease portfolio of Uber’s XChange Leasing through a combination of equity and debt secured during its latest funding round, the company said in a statement.

 

SAP acquires recast.AI and invests in France

 

Startup shut and failed last week

Social media startup for Home Cooking, Josephine, Shuts Down Charley Wang, the “chief empathy officer” of Josephine announced this in a Medium blog post adding that the last date for meals will be Friday, March 30th 2018

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