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  #281  
Old Posted May 25, 2017, 2:31 AM
emathias emathias is offline
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Originally Posted by marothisu View Post
G2 Crowd gets $30 million from Accel
http://www.chicagobusiness.com/artic...cel-investment
What is this G2? There was a G2 company in the travel space a decade or so ago dived by Alex Zoglin of Orbitz and Neoglyphics fame.
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  #282  
Old Posted May 25, 2017, 3:36 AM
Justin_Chicago Justin_Chicago is offline
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The article states...

G2, which is something of a Yelp for b-to-b software, started out slowly but turned a corner in the past year as it signed up IBM, Salesforce and Marketo.

The company makes money by selling access to its reviews and data from software buyers. It creates free pages for companies in nearly 200 categories of software. Software makers can pay to license access to G2 reports for marketing purposes. Software companies can license their pages from G2, so they can upgrade them, and they can also can purchase demographic data about software buyers from G2.

The startup is competing against heavyweight tech-research firms such as Forrester, Gartner and International Data Corp.
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  #283  
Old Posted May 25, 2017, 12:18 PM
marothisu marothisu is offline
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DraftKings is shopping for downtown Chicago office

http://www.chicagobusiness.com/artic...chicago-office
Quote:
One of the giants of the daily fantasy sports industry is looking to Chicago to set up its first U.S. outpost outside of the East Coast. Boston-based DraftKings plans to open a downtown Chicago office in the months ahead with as many as 50 employees, according to CBRE First Vice President Jon Milonas, who is advising the company on the search.

Milonas said a DraftKings executive toured various properties in the city this week with a focus on spaces in Fulton Market and River North, looking to rent between 10,000 and 15,000 square feet office space.
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  #284  
Old Posted May 25, 2017, 1:51 PM
Justin_Chicago Justin_Chicago is offline
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I see marothisu beat me. All good news.
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  #285  
Old Posted May 26, 2017, 5:44 PM
CastleScott CastleScott is offline
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Heres a good read on Chicago's Union Station plan.
http://www.progressiverailroading.co...project--51715
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  #286  
Old Posted May 26, 2017, 7:45 PM
Vlajos Vlajos is offline
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http://www.bizjournals.com/chicago/n...o-buffalo.html

HSBC is moving jobs from Delaware to suburban Chicago. Not clear how many.
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  #287  
Old Posted May 26, 2017, 8:29 PM
bnk bnk is offline
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Originally Posted by Vlajos View Post
http://www.bizjournals.com/chicago/n...o-buffalo.html

HSBC is moving jobs from Delaware to suburban Chicago. Not clear how many.

The link says 400 jobs to Chicago and buffalo. I would suspect more than 200.

Edit. I read it again, not clear.
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  #288  
Old Posted May 31, 2017, 11:30 AM
Justin_Chicago Justin_Chicago is offline
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Outcome Health raises over $500 million

Outcome Health raised more than $500 million from investors, led by Goldman Sachs, Pritzker Group Venture Capital and Google's parent company, Alphabet.

It's one of the biggest deals ever for a Chicago technology company.

When the deal closes in a few weeks, it's expected to raise about $600 million and value Outcome (formerly called ContextMedia) at $5.5 billion or more, the highest for any Chicago venture-backed company in the past decade, according to PitchBook, a Seattle-based research firm. The only company to raise more money in a single round was Groupon, which landed $950 million in early 2011 at a $4.8 billion valuation, not long before it went public.

Shah and Agrawal were unique in Chicago startup circles in having built a profitable company to $100 million in sales with no outside capital. They retain control of Outcome Health, even after taking in the outsize investment. The financing puts the company on a path to a likely IPO in the next few years, but Shah says it's not the only option.

"It was really important to us to maintain our independence and governance of the business because Shradha and I are motivated by more than just profits," he told me.

Shah declined to go into great detail about the exact structure of the deal, but said the investors will get common equity in "the company that will ultimately go public, which has an interest in our operating company." The terms "allow us to continue to be mission-led, and it protects the flexibility of the company to remain private or go public."

Article: http://www.chicagobusiness.com/artic...oogle-pritzker
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  #289  
Old Posted May 31, 2017, 2:20 PM
the urban politician the urban politician is offline
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Originally Posted by Justin_Chicago View Post
Outcome Health raises over $500 million

Outcome Health raised more than $500 million from investors, led by Goldman Sachs, Pritzker Group Venture Capital and Google's parent company, Alphabet.

It's one of the biggest deals ever for a Chicago technology company.

When the deal closes in a few weeks, it's expected to raise about $600 million and value Outcome (formerly called ContextMedia) at $5.5 billion or more, the highest for any Chicago venture-backed company in the past decade, according to PitchBook, a Seattle-based research firm. The only company to raise more money in a single round was Groupon, which landed $950 million in early 2011 at a $4.8 billion valuation, not long before it went public.

Shah and Agrawal were unique in Chicago startup circles in having built a profitable company to $100 million in sales with no outside capital. They retain control of Outcome Health, even after taking in the outsize investment. The financing puts the company on a path to a likely IPO in the next few years, but Shah says it's not the only option.

"It was really important to us to maintain our independence and governance of the business because Shradha and I are motivated by more than just profits," he told me.

Shah declined to go into great detail about the exact structure of the deal, but said the investors will get common equity in "the company that will ultimately go public, which has an interest in our operating company." The terms "allow us to continue to be mission-led, and it protects the flexibility of the company to remain private or go public."

Article: http://www.chicagobusiness.com/artic...oogle-pritzker
Awesome news. Period.
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  #290  
Old Posted May 31, 2017, 3:44 PM
LouisVanDerWright LouisVanDerWright is offline
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This is the kind of startup that Chicago is ripe for. Not consumer facing, but business to business. I also think there is going to be a lot more potential value in these types of companies going forward than in Snapchat or Twitter types that cater to individuals without creating a real business. When you are a tech company selling to corporate Giants like healthcare there is virtually unlimited growth potential. Only so many people want dog ears on their photos and there are only so many ways to monetize that.
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  #291  
Old Posted May 31, 2017, 11:43 PM
marothisu marothisu is offline
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Originally Posted by LouisVanDerWright View Post
This is the kind of startup that Chicago is ripe for. Not consumer facing, but business to business. I also think there is going to be a lot more potential value in these types of companies going forward than in Snapchat or Twitter types that cater to individuals without creating a real business. When you are a tech company selling to corporate Giants like healthcare there is virtually unlimited growth potential. Only so many people want dog ears on their photos and there are only so many ways to monetize that.
Totally. As long as they keep improving, it could become very, very good. There are a number of companies who make tons of money for more B2B things. I don't think some people realize how much money some companies throw around for products. In my line of business (other lines use it too), we use some software that helps us track everything that we do - and the two founders of this company are multi billionaires. The company does hundreds of millions per year in revenue. However, ask the common person about these pieces of software/the company and they'd have no idea. It's almost entirely catered to businesses.

ALso, LOL I was having a side conversation with my team today about how Snapchat will probably not be a viable company in 5-10 years unless they do some pivoting somewhere/evolution. Twitter has more viability, but still. Funny you mention it, but it's very true. As someone in the tech industry, it's kind of weird/funny to me just how many VCs throw money around in the bay area at truly terrible ideas - and majorly just so they can eventually sell the tech to a bigger/more valuable company. A lot of the time it doesn't even have to do with the business idea itself. Unfortunately a lot of the more regular workers can't see the forest for the trees, but this is a whole different conversation.
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  #292  
Old Posted Jun 1, 2017, 3:53 AM
the urban politician the urban politician is offline
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You know, I see the amazing amount of wealth being created more quickly and sort of wish I had the type of personality to do a startup. Actually I was a cofounder of a startup 2 years ago but it didn't go far.

Oh well, maybe some day...
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  #293  
Old Posted Jun 1, 2017, 1:25 PM
Justin_Chicago Justin_Chicago is offline
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I predict Ocient and Tempus are the next local start-ups to reach a billion valuation.
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  #294  
Old Posted Jun 1, 2017, 3:51 PM
LouisVanDerWright LouisVanDerWright is offline
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Originally Posted by Justin_Chicago View Post
I predict Ocient and Tempus are the next local start-ups to reach a billion valuation.
The Ocient guy just sold some company called "Cleversafe" to IBM for $1.3 billion. It's amazing that I've never heard of any of these companies. Crazy that a $1.3 billion exit can just get totally ignored in an economy the size of Chicago.
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  #295  
Old Posted Jun 1, 2017, 5:25 PM
marothisu marothisu is offline
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Originally Posted by LouisVanDerWright View Post
The Ocient guy just sold some company called "Cleversafe" to IBM for $1.3 billion. It's amazing that I've never heard of any of these companies. Crazy that a $1.3 billion exit can just get totally ignored in an economy the size of Chicago.
It definitely wasn't ignored in Chicago, but it wasn't all over the place. In the tech industry it was pretty well known too across the country. That's the point though. The companies which cater to medium to large business and can sell to a lot of them can be very valuable. In SF, there is a lot of stuff being created which either isn't very useful but is "cool" and/or it'll run its course in a few years. People aren't investing in those because they think a pet feeding management system is the next $1B company. A lot of the time they're doing it either because there is some tech they can either sell or pivot around, or they just sell the package to a bigger company. Obviously these also exist in Chicago, but I feel as if the startups on average in Chicago are made with actual business value in mind.

The companies which could come up in Chicago may not have a name recognition like something that's hot, but in terms of valuation and number of employees can be pretty big because of who some of these cater to
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  #296  
Old Posted Jun 1, 2017, 5:55 PM
bnk bnk is offline
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This is an interesting move. A HQ move closer to O'Hare might be in order someday.




http://www.chicagobusiness.com/artic...-wirtgen-group


June 01, 2017

Deere's biggest deal ever


Deere said today it plans to buy a road equipment maker in a deal worth about $5.2 billion in what would be the largest acquisition in the company's history.

The deal is for Wirtgen Group, a privately held company based in Germany.



"Wirtgen's highly complementary product portfolio enhances Deere's existing construction equipment offering and establishes Deere as an industry leader in global road construction," Deere said in a statement.

Wirtgen has about 8,000 employees and sells in more than 100 countries, Deere said.
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  #297  
Old Posted Jun 4, 2017, 12:10 AM
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mind field mind field is offline
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I'm wondering if Chicago is on Aetna's radar? It would seem to fit what they are looking for in a new headquarters city.

http://www.marketwatch.com/story/aet...5-31-144855559
Published: May 31, 2017 2:55 p.m. ET

By
JOSEPH DE

Aetna Inc. said Wednesday it is in negotiations with several states to move its corporate headquarters out of Connecticut, dealing a blow to a state that is struggling with a widening budget deficit, stagnant population growth and rising unemployment.

The company said its goal was to broaden access to innovation and talent.
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  #298  
Old Posted Jun 4, 2017, 1:23 PM
the urban politician the urban politician is offline
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Originally Posted by mind field View Post
I'm wondering if Chicago is on Aetna's radar? It would seem to fit what they are looking for in a new headquarters city.

http://www.marketwatch.com/story/aet...5-31-144855559
Published: May 31, 2017 2:55 p.m. ET

By
JOSEPH DE

Aetna Inc. said Wednesday it is in negotiations with several states to move its corporate headquarters out of Connecticut, dealing a blow to a state that is struggling with a widening budget deficit, stagnant population growth and rising unemployment.

The company said its goal was to broaden access to innovation and talent.
Could be, but I have a funny feeling they will end up in NY or Boston
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  #299  
Old Posted Jun 4, 2017, 2:16 PM
sukwoo sukwoo is offline
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Originally Posted by the urban politician View Post
Could be, but I have a funny feeling they will end up in NY or Boston
It'd be a pretty huge, possibly unprecedented move for an established NE corridor company to relocate to the midwest. I'm sure the Illinois budget mess doesn't help things either.
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  #300  
Old Posted Jun 4, 2017, 3:42 PM
LouisVanDerWright LouisVanDerWright is offline
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^^^ Yeah companies don't want to relocate somewhere where taxes are virtually guaranteed to increase and you have no certainty as to the ways in which they will increase.
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