Digital Startup news roundup – Week ending 22 October

Startup News roundup for Week ending 22nd October

News you can use

Corporate Startup Ventures and M&A

JPMorgan Chase to buy Redwood City payments startup WePay: JPMorgan Chase & Co. has agreed to buy fintech startup WePay Inc. so that it can offer its technology to its 4 million small-business customers.Redwood City-based WePay helps online marketplaces and crowdfunding websites process payments. It was last valued at about $220 million when it raised funds in 2015. The companies declined to disclose the price on the deal but the Wall Street Journal cited an unnamed source who said the bank is paying more than what the startup was last valued at.

Cisco To Acquire Machine-Learning Startup Perspica To Boost AppDynamics – The networking and tech giant, Cisco Systems announced that it plans to acquire startup Perspica in an effort to enhance its AppDynamics platform. “With the addition of Perspica to our AppDynamics capabilities, customers will be able to further take advantage of machine-learning capabilities to analyze large amounts of application-related data, in real time and with business context, including when an application is deployed in a company’s public, private and multiple cloud environments”

Chinese-funded EV startup buys tech firm headed by former Tesla exec – SF Motors Inc., a California-based electric vehicle unit of China’s Chongqing Sokon Industry Group, said Thursday it has bought an EV and battery tech firm headed by former Tesla Inc. executive Martin Eberhard for $33 million.

Startups that failed this week

Failed Startup: delivery business Jinn shuts down – This week, London based delivery startup Jinn announced that it is shutting down. Jinn started with technology platform that aims to brings together independent courier services providers with mobile customers provided by Ridee Ltd.

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