Roundup of news and ideas from the world of startups – Week ending 18th Feb 2018
News you can use
Tip – Startups are small-businesses, and liable for their commitments – On myDigitalStartup.net, we continue to post tips and ideas for startups, and perhaps the most relevant lesson from all entrepreneurs is simple: founders need to think of their startup as a small business. A couple of recent articles highlight what NOT to do when the startup or business model goes south
Have we reached social media saturation? Facebook adverts in Indian newspapers – Facebook recently took out an interesting advertisement in a number of Indian newspapers and publications that caught my attention. This got me thinking about the social media giant and its reach.
US Embassy Launches Nexus Startup Hub In New Delhi – The US Embassy announced the launch of Nexus Startup Hub at the American Centre in New Delhi. Its aim is to support a dynamic ecosystem for innovative Indian startups by sharing best practices in business and entrepreneurship and in incubation.
Roche to Acquire Cancer Software Startup Flatiron Health for $1.9B – Roche has agreed to acquire Flatiron Health for $1.9 billion, a deal that brings the cancer research capabilities of Flatiron to the oncology drug portfolio and pipeline of the pharmaceutical giant. Roche already owns a 12.6 percent stake in Flatiron. The Basel, Switzerland company expects to complete the acquisition of the remaining Flatiron shares in the first half of this year.
Oracle acquires cloud security startup Zenedge – Oracle announced today that it reached an agreement to acquire Zenedge, a company that provides firewalls and denial-of-service mitigation to enterprises. The deal is part of Oracle’s overall work to build out its cloud platform, providing customers with security features for their applications that help them stay secure and running in a hostile web environment. Zenedge fits in with the company’s previous acquisition of Dyn, a domain name system (DNS) provider that helps determine how traffic gets directed between different applications.
VMware snaps up cloud startup CloudCoreo – VMware has acquired CloudCoreo to assist customers in understanding risks associated with public cloud services. On Wednesday, VMware said the small Seattle-based company, which has less than 10 employees, will join VMware’s Cloud Services unit. Financial details were not disclosed
Startup shut and failed last week
iDAvatars winds down operations – iDAvatars, a startup that develops software for users to interact with virtual assistants has begun the process of shutting down operations after losing a key customer, the founder and CEO Norrie Daroga said Monday.The company was trying to create interactive mobile technology based on digital avatars with an ‘IQ’ to help connect people and share information. The technology recognized that people also take decisions based on EQ – an emotional intelligence – that allows them to respond to the human condition, interacting with users with empathy and humanity.
Another food-tech startup bites the dust: Indie Plate shuts down – This week, Indie Plate, the Baton Rouge, LA based meal subscription startup announced in an email to customers that it was shutting. The website, however just says it is “currently at CAPACITY for orders this week!”