News
Trustpilot, an independent online review platform for business and consumers, secured $20m in debt financing. The company intends to use the proceeds for continued technology and product innovation in data-driven customer insights, analytics and automation and growth in the US, Europe and Australia. To read more, click here.
Blow Ltd was launched by venture capitalist Dharmash Mistry and former editor of Elle and Grazia, Fiona McIntosh, in 2013. The chain’s £7.5m investment will be used to set up “beauty bars” – offering blow dry, make up and nail services – in various Debenhams stores. The first three bars will be set up on Debenhams’ Oxford Street, Birmingham Bull Ring and Manchester. If you would like to read more of this article click here.
On-demand delivery firm Deliveroo has raised an additional £285m from investors including Fidelity and T Rowe Price. The deal could be announced this week and is set to alight reports that Deliveroo is seeking to IPO, as both investors backed Facebook and Snap before they went public. If you would like to read more click here.
Uber’s reign in London looks to be over, as TfL declines to renew the ride sharing service’s licence. Uber's current licence is set to expire on 30 September. TfL said it has concluded that Uber "is not fit and proper to hold a private hire operator licence". To read more, click here.
Europe is home to prominent startup and innovation hubs like Berlin, Stockholm and London, with more tech hubs, such as Zurich and Paris, on the horizon. Using CB Insights data has been able to map the top venture capital investors in Europe by country, based on number of portfolio companies the investor had backed. To view Europe’s top venture capital investors click here.
The sleep business in Europe is worth £26bn, with half a dozen online mattress groups like Simba and Casper rushing to market. The week Eve, an online mattress brand, revealed that its costs are soaring and the groups loses are even higher even after raising £35m and being valued at £140m on the London Stock Market. To find out more about the online mattress industry, click here.
Founder of Séraphine, Cecile Reinaud, opens up about the trials and tribulations of setting up your own business as well as the transition from high-street retailer to e-commerce business. To read this article, click here.
ZPG plc has acquired Money.co.uk for £80 million on a cash-free, debt-free basis. To read more on this transaction please click here.
The walkie-talkie app allowed people to communicate with each other, locate victims and get directions to the people in need during the tirade of Hurricane Harvey. Zello teamed up with the Cajun Navy to create a channel for volunteers to communicate and help the victims of Hurricane Harvey. To read more on this please click here.
Online retail in the UK is currently compounding at a rate of more than 30 percent of the country’s total retail. Online retail and e-commerce is growing exponentially and within in 3 years, 3 companies – Amazon, Alibaba and eBay – will control 40 percent of the world’s e-commerce. Within 15 years, e-commerce will overtake conventional retail sales in developed nations, as a new wave of pervasive technologies take hold. To read more of this article click here.