What LinkedIn’s marketing prospects look like after its Bizo buy
(Gigaom)
VCs suck (but there's a way you could prove me wrong) (Dan Primack/Fortune)
What LinkedIn’s marketing prospects look like after its Bizo buy
(Gigaom)
VCs suck (but there's a way you could prove me wrong) (Dan Primack/Fortune)
Saturday Highlights 8/16/2014: Court finds Rimini infringes Oracle; Linode, SmartThings
Rimini Infringed Oracle's Database Copyrights, Says Court (Information Week)
When cloud computing isn’t all about scale (Gigaom)
On New Jersey's Linode.
IBM Says Sale of Low-End Server Business Gets Regulator Approval
(Reuters via Re/code)
The future of TV may be what Comcast dreams (Q&A) (CNET News)
NRG Energy Buys Goal Zero, a Start-Up, as Entry to Mobile Solar Business (New York Times: DealBook)
With SmartThings buy, is Samsung embracing an open Internet of Things? (Computerworld)
Links 8/15/2014: Philadelphia using Salesforce for 311 system; InterDigital loses patent case against Microsoft, ZTE
Philadelphia uses Salesforce.com for upgraded 311 system
(PC World)
The Cable Guys Have Become the Internet Guys (Re/code)
First New York, now California: State regulators vow to examine Comcast-TWC merger (Washington Post)
In the Battle for the Connected Home, Stakeholders Are Lining Up (Wall Street Journal: Digits)
InterDigital Loses ITC Patent Case Against Microsoft, ZTE
(Bloomberg)
Grocery stores in multiple states hit by data breach (Computerworld)
Links 8/14/2014: Samsung finally completes SmartThings acquisition; PeopleLinx pivots to social selling
Amid slump in flash-sales sector, Rue La La is hit hard (Boston Globe)
Net earnings from continuing operations soar at Checkpoint (Fibre2Fashion)
PeopleLinx Pivots To Social Selling (
AlanLepofsky/In The Next Version)
Infor goes after the cloud CRM big boys with Saleslogix acquisition (Diginomica)
Internet of Bling: Samsung Buys SmartThings for $200 Million (Re/code)
Comcast defends $45B Time Warner merger to FCC (The Hill)
Links 8/13/2014:Chappaquiddick residents target Obama, Roberts with ads; Analyst: almost all SAP Cloud revenue is result of acquisitions
Comcast and Time Warner fund event for regulator while seeking merger approval (Washington Post)
'To understand Comcast's lousy reputation' (Philly.com: Philly Deals)
Chappy residents target Comcast CEO and President Obama in ads (Martha's Vineyard Times)
SAP Cloud Revenue Almost Exclusively SuccessFactors, Ariba (ASUG News)
Analyst says excluding acquisitions (SuccessFactors, Ariba), SAP cloud revenues amount to
about only $50 million.
SAP makes it cheaper, easier for customers to use Hana in certain scenarios (IT News)
Has The Cloud-Based Solutions Market Turned A Corner In 2014? (Procurement Leaders)
Amazon makes an undisclosed investment in cloud services company Acquia (GeekWire)
Amazon Launches Local Register, A Square Competitor With Lower Transaction Rates (TechCrunch)
Why You're Having Problems Reaching DSLReports (and Other Sites)
(Broadband Reports)
Links 8/12/2014: Axial raises $11 million from Comcast Ventures; FRC portfolio co Gnip exits to Twitter
Deal platform Axial raises $11 million from Comcast (Fortune)
First Round Capital was already an investor.
Gnip Exit To Twitter Worth $134M (Techrockies.com)
Another exit for First Round Capital.
Alteva Reports Second Quarter 2014 Financial Results (Marketwatch)
AWeber Unveils New Mobile App to Enable Customers to Evaluate Email Campaign Effectiveness (PR Newswire)
PeopleLinx 3 Bridges Gap Between Social Networks and Sales Process (PR Newswire)
Leaf Now Fully Owned by Heartland, Still Losing Cash (Xconomy)
Rackspace Q2 Revenue Tops, Execs Mum On Company Sale (Investor's Business Daily)
Former exec says HP 'bungled' the Autonomy acquisition, alleges cover-up (PC World)
When Will LinkedIn Launch a CRM Service? Should CRM Vendors Worry? (ClickZ)
IO Building Massive Beachhead in New Jersey (Data Center Knowledge)
The Long Fall of Philly Newspapers (Philadelphia Magazine)
Media Companies Spin Off Newspapers, to Uncertain Futures (New York Times)
Exton’s Frontline Technologies acquires Chicago firm to ramp up K-12 educator management tools (Philadelphia Business Journal)
Philly Tech People News 8/10/2014
Luukko to chair Philly Sports Holdings (Philadelphia Inquirer)
Lenfest becomes Inquirer, Daily News publisher (Philadelphia Inquirer)
Cablevision Hiring Of Former Yahoo Tech Chief Spotlights WiFi Build Out (Deadline.com)
Dilipkumar Khandelwal takes over as SAP Labs India MD (Times of India)
NJ Serial Entrepreneur, Wharton Grad Marc Lore Snags $55 Million to Build E-Commerce Platform Jet
Esther Surden
Publisher & Editor, NJTechWeekly.com
 |
Marc Lore has raised $55 million for a new e-commerce platform called Jet. |Source: Quidsi website |
Whenever New Jersey entrepreneurs want to point to a local success story, they mention Quidsi — the parent company of Diapers.com and several other e-commerce sites — founded in Montclair and sold to Amazon.com in 2010 for $550 million.
Now one of Quidsi’s founders, Marc Lore, has raised money for a new e-commerce startup, Jet. And the amount of money he has raised is not small.
“I’m happy to confirm,” Lore wrote on his blog “that we’ve raised a $55M Series A round of funding led by NEA [Menlo Park] with participation from Accel Partners [Silicon Valley], Bain Capital Ventures [Boston, New York and Palo Alto] and MentorTech Ventures [Philadelphia] . Lore is a Wharton graduate and MentorTech invests only in ventures having a Penn connection. It had also invested early in Quidsi.
The raise took place as soon as Lore was out from under a noncompete agreement with Amazon, sources say.
Lore said in the blog that it’s too early to discuss the details of the business he is building. He did say, however, “e-commerce has come a long way in just two decades, altering our expectations around price, selection and service."
"We now expect the lowest prices, infinite selection and overnight delivery right to our doorstep. This transformation in customer experience is undeniable and, at the same time, I believe there is still a massive opportunity for innovation.”
Lore added that Jet will “make use of the latest advancements in technology to create a new shopping experience that will empower customers like never before. Jet will bring unprecedented transparency and efficiencies to the overall e-commerce market, and as a result, will transform the customer experience in a way that, until now, has not been possible.”
An article in Fortune says Lore is building the company alongside two Quidsi cofounders, former VP of special operations Nathan Faust and former project director Mike Hanrahan. Lore’s former cofounder Vinit Bharara, whose January 2014 talk NJTechWeekly.com covered here, is not involved in this project, sources say.
\Business Insider says Jet will operate out of Hoboken and already employs 30 people.
Recode.net’s Jason Del Rey, who broke the news July 29, 2014, says the deal values Jet at more than $100 million. The startup had been self-funded until this point and is expected to officially launch in 2015.
Esther Surden is Publisher and Editor of NJTechWeekly, and a contributor to Philly Tech News. This article (with some small additions) originally appeared in NJTechWeekly, and is republished here with her permission.
Proposed merger of Comcast and Time Warner Cable knocked by PSC staff report (New York Daily News)
Cord-Cutting Slows But Danger Still Real – Moffett (Light Reading)
Cover Oregon: Oracle comes out swinging, files lawsuit, accuses Kitzhaber of 'campaign'
(Portland Oregonian)
SAP Smart Financials, Evolution towards HANA Optimized Solutions and Follow-Up Questions
(SAP Community Network)
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