New Media

‘Mic’ Drop: PolicyMic Changes Its Name, Revamps Layout

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Millennials are often accused of being irresponsible and non-committal. We can’t commit to a relationship, a mortgage or a job for more than a year. How appropriate then, that a news site meant for millennials can’t commit to a name.

PolicyMic has changed its name to Mic (Stylized “.Mic”). “Policy.Mic” is now just a section, like Arts.Mic or World.Mic. Distancing themselves from using the word “Policy” in their masthead is meant to chase broader appeal. Read More

Brave New Ventures

This VC Wants to Create an NYC Base Camp For Israeli Startups

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The tech scene in Tel Aviv is booming, and many Israeli tech founders see New York City as their best opportunity to go global. But even with talent, product and a great plan, startups are struggling to lay down roots in New York.

A new microfund and accelerator want to help top Israeli tech startups transition to New York. Founded by Eyal Bino, Accelerant Ventures is striving to help Mr. Bino’s countrymen conquer the global scene without selling out early. Read More

Tech Bubble Watch

Despite Tech Bubble Paranoia, NYC Analysts Insist We’re Safe

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A new CB Insights report shows that big corporations are pouring into the tech investment scene. While many might fear this means we’re headed for a second tech bubble, the report’s authors insist that’s not the case.

Major corporations like Intel and Comcast have become a third of the V.C. landscape. The deal sizes are getting bigger and bigger, and the last quarter saw the highest valuations we’ve seen since the last major tech crash. It’s not hard to see why people think history could repeat itself. Read More

Internet of Things

Older Tech Giants Have Arrived For The ‘Internet Of Things’ Arms Race

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When people hear “Internet of Things,” their first inclination is to think of Google-owned talking thermostats. But it’s the less-buzzworthy global communications titans like Intel and Cisco who have been building up their portfolio of Internet of Things companies over the past few years — and they’re only getting started.

Intel recently bought up Basis Systems, which makes health tracking bands, and Cisco’s portfolio includes companies that put sensors in home utility meters and bicycles. These are companies that made their multinational empires building satellites and wireless networks — and now they want to develop consumer products that put sensors in alarm clocks, hearing aids and thermostats. Read More

Startup Food Chain

After $2.67B GrubHub IPO, VCs Are Hungry For Food Delivery Apps

(photo via Lucius Kwok))

Since GrubHub Seamless went public with a valuation of $2.67 billion, venture capitalists are racing to find the next hit food delivery app for their portfolios.

According to the report on the CB Insights blog, investments in food tech in the first quarter of 2014 (Q1) were the highest they’ve been in five years. Over $200 million went to food and grocery apps during those three months, which was the biggest VC investing boom in over a decade.

Most of these are small, local apps that focus on a particular set of stores and services, whereas GrubHub and Seamless are nationwide giants with a combined 25 years under their belts. The two companies merged last year, and served over three million customers nationwide in 2013 alone. Read More

New Deal

Imgur Gets $40 Million Investment From Andreessen Horowitz

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One of tech’s most prolific venture capital firms, Andreessen Horowitz (or “A16Z”), has invested a sizable $40 million in image sharing giant Imgur, Betabeat has learned.

Imgur has been the subject of acquisition rumors for the past year, but has never taken outside money, regardless of how successful they’ve been. According to Imgur CEO and founder Alan Schaaf, Imgur has been approached by almost every VC on the map in the past five years.

“We’ve always been fighting them off,” Mr. Schaaf told Betabeat, “and the reason is because we never really found a good fit.” Read More