Berlin-based hospitality startup Cosi raises €5 million in pre-launch seed funding
The new Berlin-based hospitality startup Cosi has raised €5 million in pre-launch seed funding, drawing participation from big names in world of travel, real estate, and hospitality. The company aims to compete with boutique hotels by offering uniquely designed apartments for short-term stays and a streamlined digital service to facilitate the guest experience. Cosi’s CEO, […]
Already lagging in tech, Germany’s central bank warns of looming recession
Germany’s central bank has warned that a recession is likely, thanks to a dip in exports and industrial production that has led the economy to shrink for a second quarter in a row, according to the Financial Times. The downturn threatens an already lagging technology sector in the world’s fourth largest economy. Authorities are considering options to […]
Just Eats and Takeaway are set to merge, forming one of the world’s largest food delivery platforms
Two of Europe’s top food delivery services announced that a merger is already well underway this week. Just Eat and Takeaway.com said they are in the “advanced stages” of merging their companies, each of which has a market cap around $5 billion. Together, as one of the world’s largest food delivery companies, they’ll be able […]
Twitter’s revenues rise 21%, shares jump 10%, following moves to improve the platform
Twitter saw higher than anticipated revenue growth for its second quarter, they announced Friday, thanks to an increase in users and advertisers. The social media company attributes the growth to recent changes that have improved user experience on the platform. The news boosted the company’s shares 10 percent, according to Reuters. Twitter deleted millions of spam […]
US fines Facebook $5bn over Cambridge Analytica, as Europe steps up data enforcement
The US Federal Trade Commission (FTC) voted last week to issue a $5 billion (€4.46 billion) fine against Facebook over the Cambridge Analytica scandal, in which they claim that Facebook violated a prior agreement to not misuse consumer data. The move comes as European authorities levy increasingly large fines against companies over their handling of […]
Privacy startup OneTrust reaches $1.3 billion valuation, offering tools for GDPR compliance
A privacy startup that helps companies navigate the complexities of the EU’s General Data Protection Regulation (GDPR) reached a $1.3 billion (€1.16 billion) valuation in its first round of funding, an achievement rivaled by few other tech startups, according to Forbes. It’s rare to reach $1 billion in a first round of funding, but after raising $200 […]
France approves new tax on multinational tech giants
French lawmakers have voted to approve a new tax on digital services, aimed primarily at large international tech giants based in the US, according to BBC News. A 3 percent tax on sales by large multinational tech companies was passed by the French senate Thursday, after it was approved by the lower house a week earlier. […]
UK regulators call for ban on financial products linked to cryptocurrency
UK financial regulators are proposing a ban on financial instruments linked to cryptocurrencies like bitcoin, saying they’re “ill-suited” for small investors due to their “extreme volatility” and other risks, The Guardian reported Wednesday. The ban would prohibit trading platforms from selling, marketing, or distributing derivatives and other instruments linked to “unregulated transferable cryptoassets” such as bitcoin. The ban […]
Automation could eliminate hundreds of thousands of UK jobs by 2030
Robots could eliminate as many as 20 million manufacturing jobs by 2030, according to a new report from analytics firm Oxford Economics. Despite this risk, it notes that automation will ultimately fuel economic growth and create new jobs, and calls on governments to help workers adapt to these economic shifts. The analysis also forecasts that […]
Is Raising Funds More Important than Profitability?
Raising funds, getting new valuations, and Series B financing are an inescapable fact of life any startup. We celebrate those companies that are able to pull in eye-popping investments, as with digital bank Monzo – which got valued at £1 billion last year and is looking at raising more funds in order to expand their […]