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  #261  
Old Posted May 8, 2017, 12:29 AM
marothisu marothisu is offline
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^ Probably consolidation. It makes sense, business-wise, to have various operations co-located. Probably makes it harder to do various things when they are in different locations entirely if they rely on one another for various things. Possible, but not necessarily optimal. My guess is mostly making a business run more efficiently and LA is a better location for media types of business.
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Last edited by marothisu; May 8, 2017 at 1:47 AM.
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  #262  
Old Posted May 8, 2017, 3:55 AM
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Quote:
Originally Posted by marothisu View Post
^ Probably consolidation. It makes sense, business-wise, to have various operations co-located. Probably makes it harder to do various things when they are in different locations entirely if they rely on one another for various things. Possible, but not necessarily optimal. My guess is mostly making a business run more efficiently and LA is a better location for media types of business.
And let's face it, it's not exactly the golden era of print journalism. I wouldn't read much into any move by a print publication, historic genre or not.
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  #263  
Old Posted May 8, 2017, 6:47 PM
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The reason I asked is because its being more clear when breaking down the numbers. Thanks for your answers.

This came out today.



http://www.chicagomag.com/Chicago-Ma...ation-Problem/


The Real Problem with Chicago’s Shrinking Population

Recent Census numbers aren’t as bad as they sound—except for one major factor. Since 1980, Chicago has lost about a third of its black population.



Scaremongers have been honking at a fever pitch ever since the U.S. Census Bureau released data in March showing a second year of declining population for the Chicago area. “Depopulation is killing this city, and it’s all self-inflicted,” tweeted Dominic Lynch, a contributor to Chicagoly. Curbed Chicago posted an open thread asking readers to comment on whether they planned to bolt, too. And an op-ed in the Tribune by a guest columnist went so far as to suggest the city should annex inner-ring suburbs to boost its slumping tax base.

Meanwhile, politicians and advocates clamored to assign blame for the decline to pet causes. Governor Bruce Rauner excoriated Democrats, of course: Taxes are too high, schools are too crummy, and politicians serve for too long, he said through a spokesperson. The nonprofit Everytown for Gun Safety attributed the drop to violence. Twitter user @jetdog asked: “Is this because President Trump says it’s a horrible place?”

Well, not so fast.

“It’s all overplayed,” says Rob Paral, a public policy analyst known as the Chicago Data Guy. “In a major city of 2.7 million people, the decline is really quite small. The sky is not falling.”

This much is true: The Chicago metro area lost 19,570 people in 2016, according to Census Bureau estimates—the largest drop of any metro area in the country. And yes, it’s the second straight year of decline.

But Paral reminds us that this is out of a whopping 9.5 million residents—a mere 0.2 percent dip. He calls the Chicago area a “huge chessboard” with pieces constantly moving on and off it.


So where the headlines imply a gush, analysts see a trickle. And as for the reasons behind the drop? They’re more complicated than the knee-jerk reactions suggest. “The tax argument is really a canard,” Paral says. “Kansas has slashed taxes, and they are losing population.” And while many armchair quarterbacks rushed to blame the exodus on last year’s surge in murders, it’s too soon for people to have picked up their lives in response to that.

Things get interesting—and alarming—when you look at who is leaving. “The white population is not falling, and the Latino and Asian populations are slightly growing,” says Paral. “The big factor that is altering Chicago’s population is the change among blacks.”

Since the early ’80s, blacks in South and West Side neighborhoods have been steadily leaving the city, resettling at first largely in the Cook County suburbs. But over the past 15 years, more and more have been leaving the area entirely for northwest Indiana, Iowa’s Quad Cities, and Sun Belt states, says Alden Loury, the director of research and evaluation at the Metropolitan Planning Council. Today there are roughly 850,000 blacks in Chicago, down from 1.2 million in 1980.

The reasons for this are varied:

...

...author of the book Black Picket Fences. “When you lose the institutions that cultivate attachment, it makes it a lot easier to pick up and leave.”

...

Chicago may be a largely segregated city, but it has long prided itself on its diversity. As blacks take flight, Pattillo says, that shifts Chicago’s role nationally as a center of African American culture, one that gave rise to everything from the blues to the first black president. “It doesn’t mean there won’t be black creativity or black economic development,” she says. “It’s just going to happen somewhere else.”
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  #264  
Old Posted May 8, 2017, 7:05 PM
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http://www.bizjournals.com/chicago/n...-sinclair.html

Tribune Media is sold to Sinclair in latest blow to Chicago's media industry

May 8, 2017, 10:21am CDT Updated May 8, 2017, 1:49pm CDT

Another sad chapter in the history of the rapidly dwindling Chicago media universe was written today.

Sinclair Broadcast Group, which is based in the Baltimore suburb of Hunt Valley, Maryland, said it has entered into an agreement to acquire Chicago-based Tribune Media (NYSE: TRCO) for $43.50 a share, or approximately $3.9 billion. Sinclair also will assume $2.7 billion in net debt.


....

Tribune Media's deal comes in the immediate wake of the news late last week that Johnson Publishing, once another major part of the locally-based media scene with the Ebony and Jet titles among its holdings, is pulling up stakes in Chicago and moving what's left of its vastly-shrunken editorial operations to Los Angeles.

And tronc (NASDAQ: trnc), the former Tribune Publishing company famously headed by renegade media mogul Michael Ferro, already is based in Los Angeles for all intents and purposes.

And who knows how long it will be before tronc changes hands. Gannett may have lost the battle last year to acquire tronc. But tronc could still be a takeover target.
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  #265  
Old Posted May 10, 2017, 2:08 AM
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Software firm ActiveCampaign plans 225 hires in new Loop HQ

Software firm ActiveCampaign will more than triple the size of its headquarters as it plans to add 225 employees in the Loop in the next two years.

The company has leased about 52,000 square feet in a 17-story vintage office building on Dearborn Street, where it plans to move in August, CEO and founder Jason VandeBoom said.

ActiveCampaign has outgrown a 16,000-square-foot office along the Chicago River near Union Station, after growing from fewer than 30 employees in 2015 to about 125 now, he said.

The new space can accommodate 350 workers, and the company expects to reach capacity by 2018 or 2019, VandeBoom said. The 10-year, single-floor lease includes options to add additional floors, he said.

The building extends from Dearborn to State Street, along the north side of Madison Street. It is also home to Chicago Public Schools' headquarters, and was previously Sears' downtown flagship until that store closed in 2014.

Article: http://www.chicagotribune.com/busine...09-column.html


VCs pour $8 million into startup furniture seller

nterior Define, which aims to do for furniture what Warby Parker has done for eyeglasses, is widening its reach, thanks to an $8 million cash infusion.

The three-year-old company, which sells custom couches online and offline, just opened a store in New York. It's also launching a line of upholstered beds.

The investment was led by Breakout Capital, a Chicago-based fund started by former employees of private-equity fund Sterling Partners, and included Pritzker Group Venture Capital and Listen Ventures.

The company, which has about 30 employees, sells couches for about $600 to $4,000 that are custom-built by a contract manufacturer. It's going to start selling upholstered beds, ranging in price from $1,300 to $1,900, starting later this month.

Article: http://www.chicagobusiness.com/artic...rniture-seller
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  #266  
Old Posted May 10, 2017, 4:18 AM
marothisu marothisu is offline
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This came out today.
This data has been out for years and other articles have been written about it for years. This isn't new information at all. On the side, we're dealing with business. Unless you are saying "We are moving because we cannot get talent in X city due to Y condition" then it's an operations thing. As someone who works in an environment that is completely into the co-location thing and I also understand how useful it is, this makes complete sense. Los Angeles is a better city to be based in for anything related to media than Chicago - that's pretty obvious. It makes complete sense to make sure your operations are co-located. Having them in multiple cities in different times zones complicates matters and makes things less efficient.

There are many things that you could ding Chicago on in regards to the black population decreasing, but this specific move I would guarantee is not one of them. It's a product of being more efficient and picking the better city for their industry.
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  #267  
Old Posted May 11, 2017, 1:30 AM
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Another nice drop in the bucket:

Peapod moving headquarters from Skokie to Chicago, exec says

Peapod plans to relocate its headquarters from Skokie to downtown Chicago this year, an executive said Wednesday — a move that could affect 180 employees.
<snip>
"We're consolidating, hopefully by the end of the year into one big office with everybody from Peapod downtown," he said. "We're in the middle of leasing right now."
<pins>

Source: The Trib
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  #268  
Old Posted May 11, 2017, 12:23 PM
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Auto parts maker Flex-N-Gate bringing 300 jobs to Chicago's South Side

http://www.chicagobusiness.com/artic...gos-south-side

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A major auto parts supplier is opening up shop on the Far South Side, and it's bringing nearly 300 manufacturing jobs with it.

Mayor Rahm Emanuel today will announce that Urbana-based Flex-N-Gate Corp. will lease and occupy a 288,000-square-foot warehouse at 2924 E. 126th St., near Ford Motor Company's huge Torrence Avenue Plant.

The facility is scheduled to be up and running by next January, and will be leased from CBRE, which manages the now-empty structure.
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According to the city, the company will invest about $30 million in lease payments and machinery. It will get up to around $4 million in state Edge payroll tax credits if it delivers the promised 286 full-time jobs, plus about $1.5 million in city and state job-training assistance.
Quote:
Flex-N-Gate owner Shahid Khan, who reportedly was personally wooed by the mayor, said, "The U.S. automotive industry is booming again, and that's true today in my beloved state of Illinois . . . Today's announcement is proof that when everyone is determined to work together, big things will happen."

...

The company has been in expansion mode, recently announcing an even larger project in a long-empty section of Detroit, where average pay will run in the "mid- to high-$20s an hour."
That's good, and fairly decent pay for the type of work I think ($25/hr for 40 hours per week for 50 weeks per year is $50K/year - not amazing but not bad). How many jobs have been created in the last few years in this area between Ford, Method, the new trains for CTA, etc?
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  #269  
Old Posted May 12, 2017, 11:38 PM
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Bosch opens a co-working space in 1871

http://www.chicagobusiness.com/artic...-chicagos-mart

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Looking for an edge in the Internet of Things race, German industrial giant Robert Bosch wants to hang out with the cool kids.

The company is starting in Chicago with a new 19,000-square-foot co-working space in the Merchandise Mart called the Connectory that will house startups and some employees. The facility, on the fifth floor of the Mart, is jointly operated by Bosch and 1871. They're also partnering with local universities, including the School of the Art Institute and Northwestern University, to help mentor entrepreneurs and tackle new ideas and old challenges.

"It will focus on co-creation with startup, university and corporate partners," says Dennis Boecker, head of global IT innovation for Bosch, who is here, where it employs nearly 2,000 people in the city and suburbs. "There will be corporate projects, educational experiences and an open environment. We have several startups at 1871 that we're in discussion with already."
Quote:
J.B. Pritzker, a venture capitalist who was the driving force behind 1871's launch in 2012 and now is running for governor, says the incubator has grown into a much bigger deals than its founders had hoped. Since Tullman became CEO in late 2013, it has expanded from 50,000 square feet of space and 225 companies to 150,000 square feet and 500 companies
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  #270  
Old Posted May 16, 2017, 9:26 PM
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Trustwave adds space and employees at new Loop HQ

The company has stayed put at its longtime address at 70 W. Madison St., but now is on two other floors, which it overhauled, blowing out part of the ceiling to create a two-story atrium and adding a giant video wall. Overlooking it all is a conference room that resembles the bridge from Star Trek. It even brought in old brick to give the staid, 1980s-era office building more of a loft-like feel. "We kept adding things. We wanted it to be cooler," McCullen said of the space. "You want to keep the kids. You've got to have an edge. It's super-competitive."

n the past year, Trustwave has hired 160 people in Chicago, increasing headcount here about 30 percent to more than 500 people. Worldwide, Trustwave is up to 1,650 employees. It's a workforce heavy on engineering talent. McCullen doesn't expect the growth to slow down. The company has 50 open positions in Chicago. There isn't enough talent anywhere in tech, but the challenge is particularly steep in cybersecurity. "We need really skilled people," he said. "Even our customers can't find them."

The company, which nearly went public in 2011 and was sold for $770 million two years ago to Singapore-based telecom giant Singtel, is seeing big growth in Asia.

Article: http://www.chicagobusiness.com/artic...new-chicago-hq
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  #271  
Old Posted May 18, 2017, 9:23 PM
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Doc-scheduling startup raises $5.6 million

Albert and Kozlowski raised $5.6 million for Upfront Healthcare Services, which makes software that helps doctors improve patient scheduling. The funding was led by Nashville Capital Network, along with Hyde Park Venture Partners, Echo Health Ventures and Martin Ventures.

Upfront, launched a year ago, has eight employees, including Dr. Shannon Sims, a former Rush University Medical Center executive, and Michelle Sobel, a Jellyvision veteran who previously was at Chicago health tech companies Emmi Solutions and Analyte Health.

Article: http://www.chicagobusiness.com/artic...llion-from-vcs
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  #272  
Old Posted May 19, 2017, 8:20 PM
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Chicago startup snares $65M to combat drug-resistant superbugs

Iterum Therapeutics has raised $65 million in an oversubscribed Series B round of funding. The money will go toward the development of sulopenem, an oral and intravenous antibiotic to treat superbugs caused by gram-negative bacteria.

The funding will go to continuing efforts toward a Phase 3 trial of sulopenem in urinary tact infections caused by gram-negative bacteria.

The trial is expected to begin in the first half of 2018; Iterum expects to file a new drug application with the U.S. Food and Drug Administration by the end of 2019.

Iterum, founded in 2015 and incorporated in Dublin, runs its U.S. operations from Chicago. CEO Corey Fishman, a veteran pharma executive, previously was COO and CFO at Durata Therapeutics, another pharma company focused on treating infectious disease. Durata moved its headquarters to Chicago from New Jersey in 2012.

Article: http://www.chicagobusiness.com/artic...rtups-new-test
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  #273  
Old Posted May 19, 2017, 9:25 PM
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^ This is awesome news. Not only for Chicago but for the medical world. Very important stuff.
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  #274  
Old Posted May 20, 2017, 1:53 PM
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Illinois dipped in unemployment rate again and is at 4.7% now. It is now lower than California, Texas, Arizona, etc. Now tied for 32nd highest unemployment rate with North Carolina, Michigan, Nevada and Tennessee. Up a few places from March when it was 36th. I think a year ago it might have been around 47th or 48th.

The labor force population is down 21,000 since January but unemployment is down over 67,000 people which means the rate is dipping not only because of some unemployed people leaving the state. Employment is up over 50K people. If the labor force would have stayed the same with employment going up that much then we'd be looking at 4.9% or 5% unemployment which would still be a good decrease in the matter of a few months. The interesting thing I find is that Texas and every major city within Texas is rising in unemployment rate but their labor force and employment numbers are rising too which means people who are unemployed may be moving there - some from Illinois? That would be interesting to see.

It'll be interesting to see where Chicago is at now when the data is released in 1.5 weeks.
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  #275  
Old Posted May 22, 2017, 12:32 PM
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Cloud-Based Fraud Prevention Startup Precognitive Raises $1.25M

Precognitive, a cloud-based fraud prevention startup that tracks potential fraud before it happens, has raised a $1.25 million seed round.

The startup, founded in January 2016, has built three core technologies that they view as the "pillars of modern fraud prevention," founder Sam Bouso told Chicago Inno over email.

Their technology analyzes multiple parts of a user's interaction with an online service to identify suspicious behavior before fraud happens. Through a device intelligence and tracking solution, a behavioral analytics solution, and a decision engine, their tech assesses devices and connections for risk when they connect to a website or mobile app, analyzes behavior and biometric signals that could indicate unusual user behavior and provides an "allow" or "reject" for events that pose a risk, such as login or purchase.

The seed round was led by Chicago's Corazon Capital, with participation from Boston's Flybridge Capital Partners, Hyde Park Ventures and Jeff Liesendahl, the cofounder and CEO of Accertify. Precognitive will use the new funds to hire for engineering and business roles.

Article: http://chicagoinno.streetwise.co/201...ile-data-tech/
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  #276  
Old Posted May 22, 2017, 10:24 PM
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Originally Posted by marothisu View Post
Illinois dipped in unemployment rate again and is at 4.7% now. It is now lower than California, Texas, Arizona, etc. Now tied for 32nd highest unemployment rate with North Carolina, Michigan, Nevada and Tennessee. Up a few places from March when it was 36th. I think a year ago it might have been around 47th or 48th.

The labor force population is down 21,000 since January but unemployment is down over 67,000 people which means the rate is dipping not only because of some unemployed people leaving the state. Employment is up over 50K people. If the labor force would have stayed the same with employment going up that much then we'd be looking at 4.9% or 5% unemployment which would still be a good decrease in the matter of a few months. The interesting thing I find is that Texas and every major city within Texas is rising in unemployment rate but their labor force and employment numbers are rising too which means people who are unemployed may be moving there - some from Illinois? That would be interesting to see.

It'll be interesting to see where Chicago is at now when the data is released in 1.5 weeks.
I fly to Texas a lot for work and I come across many people visiting family that recently moved there from the South or Westside of Chicago. I am told family members moved there looking for a better living situation (lower crime) but did not necessarily have a job lined up. In fact, my last two uber drivers in Houston and Las Vegas were former Chicagoans from the Southside (Roseland and Chatham) and uber is their only source of income. I personally believe we will see a slight pick up in unemployment as this trend continues. If Texas employment picks up, it will mostly be technical jobs in Oil & Gas to support the growth of LNG exports.

I hope Rauner and Rahm aggressively pursue the next Tesla Gigafactory. Illinois has some of the lowest energy prices in the entire United States. It will be a battle between Michigan, Illinois and Indiana for the Midwest location.
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  #277  
Old Posted May 23, 2017, 4:20 AM
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I fly to Texas a lot for work and I come across many people visiting family that recently moved there from the South or Westside of Chicago. I am told family members moved there looking for a better living situation (lower crime) but did not necessarily have a job lined up. In fact, my last two uber drivers in Houston and Las Vegas were former Chicagoans from the Southside (Roseland and Chatham) and uber is their only source of income. I personally believe we will see a slight pick up in unemployment as this trend continues. If Texas employment picks up, it will mostly be technical jobs in Oil & Gas to support the growth of LNG exports.

I hope Rauner and Rahm aggressively pursue the next Tesla Gigafactory. Illinois has some of the lowest energy prices in the entire United States. It will be a battle between Michigan, Illinois and Indiana for the Midwest location.
Not really surprised. The south especially Dallas, Houston, Atlanta, and Phoenix is a hot bed for Chicagoans who were unemployed, got tired of it, and left. A lot of them seemed to be the ones who might be working in more factory type jobs. The people who are coming into the city are more educated on average and make more.

As far as Texas and energy goes, that's lagging behind which is one reason why Houston is one of the bottom 3 largest cities in unemployment percentage right now. I have a coworker in NY whose wife worked in that industry as an executive for awhile for a F100 company. I remember asking why they moved to NYC and they told me they knew the industry was going to hit the fan and they wanted out, and in a new city. This was months before it actually started happening - funny thing is I posted it on another forum and people from Houston called me crazy. Anyway, I'm not confident about Houston being like it was for a few years after 2010. I think those days are past. They'll continue to grow but at a much lower rate.

As far as Chicago's unemployment percent goes, it'll probably decrease slightly with the next data release. Chicago area is the majority of the state. Downstate is pretty stagnant/losing and if the state has decreased its unemployment percentage again, it means that the metro area in the least probably slightly decreased for April too. The Chicago metropolitan division data for April is out (https://www.bls.gov/regions/midwest/il_chicago_md.htm) and has the unemployment rate staying the same as March - 4.2%

Interestingly enough, you can see this map of states. The darker means higher unemployment percent. You can see that Arizona going all the way east along the border/coast to Georgia is all 5% unemployment and over. Only three states outside of that have at least 5% unemployment percentage - Kentucky, Alaska, and Ohio (and DC the city). Every other state is below 5%

https://www.bls.gov/charts/state-emp...rates-map.htm#
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  #278  
Old Posted May 23, 2017, 2:23 PM
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The unemployment rate is slipping, but what concerns me is the year-over-year job change is slipping too, it's only at 0.3% now. We've scraped so hard just to get above 1.0% this whole recovery it seems, meanwhile many other places are well above 2% or even 3% per year.

If this was true for Chicago it would be adding over 100,000 jobs per year, I can imagine if we did that we would really feel the growth.
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  #279  
Old Posted May 24, 2017, 8:34 PM
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University of Chicago Gets $100 Million Donation for Immune-System Research

Gift from Duchossois family will support the “new science of wellness,” school says


https://www.wsj.com/articles/univers...rch-1495620000

May 24, 2017 6:00 a.m. ET


The University of Chicago on Wednesday announced a $100 million gift to support research into the human immune system.

The donation comes from the family of Craig and Janet Duchossois, whose holdings include Churchill Downs, where the Kentucky Derby takes place. The privately held Duchossois Group Inc. is valued in excess of $3 billion, according to its website.

The gift is designed to “support development of the new science...
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  #280  
Old Posted May 25, 2017, 12:49 AM
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G2 Crowd gets $30 million from Accel
http://www.chicagobusiness.com/artic...cel-investment

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The four-year-old Chicago tech company has broken out, raising $30 million from Accel Partners, one of Silicon Valley's top venture capital firms, along with LinkedIn, Pritzker Group Venture Capital and others.

G2, co-founded by Tim Handorf and veteran Chicago software entrepreneur Godard Abel, has roughly doubled in the past year. The company has grown to nearly 175,000 reviews, over 900,000 monthly unique visitors to its site, more than 800 customers and 95 employees.

Handorf says he expects G2 to expand to 350 workers within two years. In the short term, it's going to step up its marketing efforts. Additional hires will come in product innovation, research and content generation.
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