360 One WAM, India’s largest wealth manager focused on ultra-high-net-worth individuals, has agreed to acquire popular Indian mutual fund investment app ET Money for about $44 million.
360 One disclosed (PDF) the deal in a stock exchange filing Wednesday evening.
ET Money boasts over 900,000 transacting clients and tracks assets under management of approximately $8.3 billion.
The platform has been a popular choice for retail investors, with monthly mutual fund net flows of around $89.9 million.
ET Money is the second startup from local media powerhouse Times Internet’s portfolio to be sold in recent weeks.
Shopify has acquired Threads.com, the Seqiuoa-backed Slack alternative, Threads said on its website.
The companies didn’t disclose the terms of the deal but said that the Threads.com team will join Shopify.
It was thrown into the limelight after Meta launched Threads, its Twitter-like social network.
Notably, Meta also had another product named Threads, an Instagram companion app that started in 2019 and was shut down in 2021.
And on Android the app crossed the mark of a million lifetime downloads with just a few downloads prior to Meta launching its Threads social network.
But look beyond the hype and high-profile deals like the one between OpenAI and PwC last week, and you’ll see that the world is already years into using customer-facing, no-code AI tools for extracting information and working faster.
The deal underscores not just the opportunity around increasing demand for AI in the B2B market, but also a wider trend in enterprise IT.
Eigen and Sirion are not disclosing the financial terms of the deal, but below is relevant context that tells some of the story.
London-based Eigen is led and co-founded by Dr Lewis Liu, an Oxford PhD who studied both art and physics.
It says that it works with over 250 large enterprises manages more than 7 million contracts worth $800 billion.
Stock-trading platform Robinhood is diving deeper into the cryptocurrency realm with the acquisition of crypto exchange Bitstamp.
With Bitstamp under its wing, Robinhood says that it will be better positioned to target retail and institutional crypto investors across Europe, Asia, and the U.S., with Bitstamp currently holding more than 50 licenses and registrations to operate in these markets.
“The acquisition of Bitstamp is a major step in growing our crypto business,” Robinhood’s crypto general manager Johann Kerbrat said in a statement.
“The Bitstamp team has established one of the strongest reputations across retail and institutional crypto investors.
Through this strategic combination, we are better positioned to expand our footprint outside of the U.S. and welcome institutional customers to Robinhood.”
Google has acquired Cameyo, a company developing virtualization tools to run Windows apps on ChromeOS devices, for an undisclosed amount.
Cameyo CTO Eyal Dotan founded the startup in 2018, aiming to create a platform to virtualize Windows apps so that they could run on non-Windows machines and even within web browsers.
Last year, perhaps foreshadowing the acquisition, Google partnered with Cameyo to launch features including Windows app local file system integration and the ability to deliver virtual Windows apps as progressive web apps, or apps hosted in datacenters that run in browsers.
With Cameyo’s tech, organizations looking to move away from Windows — or work with both Windows and ChromeOS — have a potentially more appealing avenue, particularly as more and more apps move to the cloud and web-based technologies.
Indeed, Cameyo claims on its website that hundreds of organizations, including school districts and financial institutions, already rely on its software.
Today, Webflow announced that it acquired Intellimize, a startup leveraging AI to personalize websites for unique visitors.
The majority of the Intellimize team — around 50 people — will join Webflow.
Vlad Magdalin, the CEO of Webflow, said Intellimize was a natural fit for Webflow’s first-ever acquisition because its product meets a need many Webflow customers share: personalizing and optimizing their websites.
Intellimize will continue to be sold standalone to non-Webflow customers, but it’ll increasingly link to — and integrate with — Webflow services.
— personalization product efforts at Webflow.
VerSe Innovation, the parent firm of Indian news aggregator app Dailyhunt, has acquired the popular digital newsstand firm Magzter, the two said Thursday.
The Bengaluru-headquartered startup has fully acquired Magzter, a New York-headquartered firm that counted Singapore Press Holdings among its backers.
Magzter has amassed over 1 million paying subscribers in India and boasts a global active user base of 87 million, Bedi said.
The firm, which offers an all-you-can-consume model with annual subscription fees ranging from $20 to $30, will find a distribution and technology partner in VerSe Innovation, he added.
The Indian firm plans to launch Dailyhunt Premium this year that will include an ad-free experience as well as Magzter’s catalog.
The transactions include a trading card commercial agreement that aims to provide trading enthusiasts a seamless buying, selling, grading, and storage experience.
As part of the partnership, eBay and PSA plan to introduce a “customer-centric product experience” over the coming months.
Additionally, eBay acquired Collectors’ auction house Goldin, a significant move that will greatly benefit collectors.
eBay is also selling the eBay vault to Collectors, creating a new offering that merges the existing vault services.
Launched in 2022, the eBay vault allows collectors to store trading cards that are valued at more than $750 in a secure, temperature-controlled vault.
WordPress.com owner Automattic is acquiring Beeper, the company behind the iMessage-on-Android solution that was referenced by the Department of Justice in its antitrust lawsuit against Apple.
One of the reasons why there are no other people building this type of app is it costs a surprisingly large amount of money to build a damn good chat app,” Migicovsky noted.
As for Beeper’s products, the company has now briefed the DOJ on what happened when Apple blocked its newer app, Beeper Mini, which aimed to bring iMessage to Android.
Beeper on Android launches to allThe company is instead releasing an updated version of its core app, Beeper, on Android.
In this rewritten version of Beeper, the company is starting to roll out fully end-to-end encrypted messages across Signal.
The company has bought Searchlight, a startup and recruitment platform that uses artificial intelligence-based technology to source talent.
The plan will be to use Searchlight’s tech to build new AI products for Multiverse to expand its professional training services.
After that, the plan will be to wind down Searchlight’s recruitment services as they focus on Multiverse’s business.
Some people will use AI to speed up what they do; others will claim that AI is taking over certain jobs altogether.
“From the start, Anna and Kerry have been thoughtful about building Searchlight’s AI models to complement their vision,” Keith Rabois, who led the Series A, said in a statement provided to TechCrunch.
