With this investment, the two fintech companies will create a new entity called Fazz Financial Group.
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Xendit says it's processing more than 65 million transactions with US$6.5 billion in payment value annually.
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The company will use the new funds for hiring, product development, international expansion, and strategic partnerships.
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The fresh capital will be used to expand Ajaib’s technology infrastructure, recruit engineering talent, and deepen its product offerings.
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The company will join Y Combinator's winter 2021 funding cycle, which will begin in January.
Cancer Care has become a major industry with a three-digit billion dollar market size wherein big pharma and medical companies are on top.Good diagnostics with respect to early detection and correct stratification are most certainly part of a notable solution.But the reality of cancer diagnostic tests is that it is not being up to the task.He is setting a benchmark through his consistent efforts in cell separation and diagnostic test development.Basically, he wanted to develop assays in the field of general magnetic particle-based cell separation technology.At that time the start-up managed to raise funds by making a pitch at the Y-combinator in the US at the end of 2014.However, the team lost its cohesive approach towards the work.This marked the intent to commercialize one invention and was reason enough for his current partners to be on board for kick-starting the project, later called SanoLiBio.A Life-changing ProjectSanoLiBio is a german based start-up that is focused on the enrichment of rare cells in general and circulating tumor cells (CTCs) in particular taken from the liquid biopsy.This Medtech start-up is currently at an infant stage in the liquid biopsy industry.
The round was co-led by Singapore’s sovereign wealth fund GIC and Sequoia India.
Months after Segment laid off 10% of its staff due to the coronavirus, Twilio is set to acquire the company, according to Forbes.
Codecademy teaches students around the world how to code, from perfecting Python and Java to learning HTML and CSS.
It aims to significantly grow its user base in Indonesia and explore credit, savings, and insurance offerings.
It also aims to make new hires and secure additional licenses to accelerate its product roadmap.
The Indonesian fintech company that thrives on the human touch, Amazon to possibly buy stakes in Reliance, and the startup that doesn’t forget your face
The gamification of ecommerce is well underway.
Y Combinator is an incredibly selective startup accelerator — and applications for the winter 2021 batch are due on September 23 by 8 p.m. PDT. An impressive application can help you win a spot. Business Insider has highlighted below some examples of successful applications from Y Combinator alumni. Business Insider regularly interviews founders about their entrepreneurial journeys. You can read about them all by subscribing to BI Prime.  There's still time to apply to Y Combinator. Since the accelerator opened its doors in 2005, more than 2,500 startups have gone through the program. Many of those startups have since achieved tremendous success. Think Airbnb, Dropbox, Instacart, Coinbase, and Brex.  The admissions process at Y Combinator is very selective: About 1.5% of the companies that apply make it in. Once they do, those companies receive seed funding, plus advice from seasoned founders. The program culminates in a Demo Day, when founders get to pitch investors on their business. This summer, the accelerator is holding demo day online on August 24 and 25.  The deadline to participate in Y Combinator's winter 2021 batch is September 23. To convince the admissions committee that you deserve a spot in the program, you'll have to craft an impressive pitch. Business Insider has talked to several founders who have done just that — and we've shared the original applications that got them in. Below, we've listed those applications, which you can use as inspiration when you're writing your own. Goodly: Read the application form that got a company with $0 in the bank into the selective startup accelerator that launched Airbnb and Dropbox InEvent: The startup accelerator that launched Airbnb and Dropbox rejected 3 founders in 2015 — so they rewrote their application and tried again. Read the form that finally won them a spot last year. Simple Habit: Read the application form that got the 'Spotify for meditation' into the selective startup accelerator that launched Airbnb and Dropbox Prolific: Less than 2% of applicants get accepted to Y Combinator, the startup accelerator that launched Airbnb and Dropbox. Read the application that helped 2 scientists who bootstrapped their business get in. Are you a startup founder who's participated in Y Combinator and wants to share your story? Contact Business Insider correspondent Shana Lebowitz at [email protected] ALSO: A former Y Combinator partner says a founder's answer to this one question on the tech accelerator's application strongly predicts their startup success Join the conversation about this story » NOW WATCH: Here's what it's like to travel during the coronavirus outbreak
The online coding bootcamp Lambda School announced a $74 million Series C round of funding, TechCrunch's Ingrid Lunden first reported Friday.  Lambda School has also received approval to operate from the California Bureau for Private Postsecondary Education (BPPE), over a year after being fined and ordered to shut down by that agency. While Lambda School has been approved to operate, it cannot offer income share agreements to new California students. Visit Business Insider's homepage for more stories. Lambda School, an online coding bootcamp known for a financial model where students don't have to pay until they find a job, just announced a $74 million Series C round of funding on the heels of approval to continue operating in California — with a catch.  Lambda School, headquartered in San Francisco, was built on the promise of income share agreements, or ISAs, where students do not have to pay upfront tuition when they enroll in the coding bootcamp, which boosters say increases opportunity. The California Bureau for Private Postsecondary Education (BPPE), a state agency that regulates coding bootcamps and other types of schools, has approved Lambda to continue to operate in the state, a year after it fined it and ordered it to shut down (Lambda appealed and continue to operate). The caveat, though, is that Lambda School cannot offer ISAs to new California students, according to a blog post by CEO and cofounder Austen Allred on August 20. On Friday, it announced it raised $74 million in equity in a Series C round led by Gigafund, with participation from GV (formerly Google Ventures), GGV, and Stripe, TechCrunch's Ingrid Lunden first reported. Lambda School had faced some business uncetainty during the pandemic: In April, it laid off 19 employees, while members of the executive team, including Allred, took a 15% pay cut. ISAs, which experts say are currently in a legal gray area, are a major selling point for Lambda School. If graduates land a job that pays over $50,000 within five years, they pay the school back 17% of their salary for two years, with a $30,000 cap. Students can also choose to pay an upfront tuition of $30,000, which was raised from $20,000 earlier in 2020.  Now that new California students will not have the ISA option, Lambda School is offering new financing options that work similarly to the current ISA. However, the ISA contract doesn't expire after two years of payment or five years of deferment: Students will need ot pay the $30,000 eventually, no matter what.  "We believe the ISA remains one of the most student-friendly, lowest-risk alternatives to traditional student debt, and we plan to continue to advocate for it in California and the rest of the US," Allred wrote in a blog post. "This kind of student-first model is needed now more than ever amidst COVID-19's sky-high unemployment and a higher education landscape in crisis." Previous trouble with Lambda School It's the ISA that attracted many students to this school, with hopes of learning programming or user experience design and landing a high-paying job. However, former students previously told Business Insider that the school falls short of providing adequate training: They accused the school of having under-qualified instructors and an incomplete curriculum where students had to rely on teaching themselves from free, third-party resources. Many also said the program had a culture of fear, as students feared publicly criticizing the school and getting kicked out. At the time, Lambda School said it could not "respond to specific inquiries out of respect for privacy" but "appreciate the concerns of any and all of our students" and are "continuously aiming to be transparent on where we need improvement and the steps we are taking to address them." Read more: Lambda School is Silicon Valley's big bet on reinventing education and making student debt obsolete. But students say it's a 'cult' and they would have been better off learning on their own. Also, a May 2019 memo obtained by New York Magazine's Vincent Woo, said that Lambda School told investors that it's at a "roughly" 50% placement rate for students that are six months post-graduation, although Lambda School said the numbers were taken out of context. According to Lambda School's data, 22% of students withdraw from the program, and of those who graduated, 71% found jobs. Last year, Lambda School received a $75,000 fine from the Bureau for Private Postsecondary Education for not registering properly with authorities, and the BPPE ordered it to cease operations and enrolling new students. Lambda School appealed this and continued to operate as it worked to obtain approval. Business Insider has reached out to the BPPE and Lambda School for comment. Got a tip? Contact this reporter via email at [email protected], Signal at 646.376.6106, Telegram at @rosaliechan, or Twitter DM at @rosaliechan17. (PR pitches by email only, please.) Other types of secure messaging available upon request.SEE ALSO: Python has overtaken Java as one of the hottest programming languages in the world, according to GitHub. Here's how a boom in AI jobs is helping developers use the easy-to-learn language to land six-figure salaries. Join the conversation about this story » NOW WATCH: Epidemiologists debunk 13 coronavirus myths
In April, Stream co-founders Lan Paje, Paul Klein, and Jun Ho Hong spent a sleepless weekend hacking away at their startup idea, a Patreon alternative.  The founders applied to Y Combinator and were accepted but turned it down and instead fundraised from angel investors and boutique, early-stage VC firms. Here's how the startup raised $2.1 million in one month from rising stars in the VC/startup world. Visit Business Insider's homepage for more stories. As COVID-19 upended life in the US, Stream CEO Lan Paje thought it might be a good idea to build a Patreon alternative for content creators stuck at home during lockdown. In April, he invited his two friends Paul Klein and Jun Ho Hong, to spend a sleepless weekend "hacking" away at his new idea, Klein told Business Insider. By the end of the weekend, the trio had gotten their initial prototype off the ground and were hosting their startup's first event.  "The first event on Stream was actually us reading bedtime stories to our friends," Klein said, acknowledging his surprise that they got the project up and running so quickly. Similar to platforms like Patreon and Jemi, Stream helps creators manage livestreams and recorded classes. The startup already has thousands of creators from across the US offering live and recorded classes, including the California Symphony, yoga instructors, basketball coaches, and professional knitters, Klein said. Right now, users pay $10-$20 to participate in virtual classes of 10-15 people, although Stream plans to add a membership fee down the road.  Their prototype landed the trio a spot in the Y Combinator startup accelerator summer 2020 class, but they turned that offer down.  Instead, the founders "took advantage of the remote work culture," Klein said, and started meeting with as many investors as possible, raising $2.1 million in what's known these days as "a pre-seed" round, doing the fundraising entirely over Zoom last May. "There's so much venture money right now for early-stage startups," Klein explained, referring to angel investors and boutique early-stage venture firms.  Klein says the secret to such fast success was using On Deck, a platform and fellowship program that connects entrepreneurs with VCs from a wide number of firms, including Founders Fund, Sequoia, and Greylock Partners.  On Deck is where the Stream team met VC Erik Torenberg, whose early-stage firm Village Global became one of the startup's first institutional investors. In an email to Business Insider, Torenberg said his firm decided to invest in Stream because the startup "is taking advantage of a monumental shift from live events to virtual and the broader trend of more and more people becoming independent creators."  Torenberg said Stream stood out to him because it's tackling a "massive, growing market" while still placing a great deal of emphasis on building a robust "product & engineering team."  The founding trio, who have worked at startups backed by firms like Founders Fund, Bessemer, and Andreessen Horowitz, also convinced their former bosses to chip in to the pre-seed round, including rising stars in the startup world like Omni COO Ryan Delk and DoNotPay CEO Joshua Browder. These investments reflect the larger trend of CEOs investing in their former employees.  Stream hasn't focused on marketing, so it's growth has been entirely organic, Paje said, and he attributes the early signs of success to an intense focus on its target customers. "All of us talk to our customers every day," Paje said, adding that the startup sees itself as "partnering with our creators." The startup's first full-time hire was a customer success manager.  Klein added that, because of the recent startup layoffs, cancelled summer internships, and the shift to remote work, the time for recruiting top software engineering talent has never been better. The co-founder said the team's three remote summer interns have been instrumental in the startup's early success.  With the influx of cash, the startup is hiring for roles in product design, software engineering, and growth marketing. While they plan to build a distributed team, the founders said they are also taking advantage of cheap short-term rental prices and have been living together in Airbnb rentals for a month at a time in cities across the US, most recently in Portland. Now read: This YC-backed power couple launched a Patreon alternative for creators that's helped a horror movie actor boost his earnings by 30% during lockdown SEE ALSO: A former Apple TV designer built a livestreaming startup to challenge Twitch, and he's betting the key to winning will be live rap battles Join the conversation about this story » NOW WATCH: The rise and fall of Donald Trump's $365 million airline
After some big successes in the 2020 IPO class, investors are looking ahead to a big-name slate of more unicorns and decacorns coming to the public market.  Palantir and Asana could go public, perhaps via direct listings, by the end of September. Other big names eyeing IPOs include Airbnb and Snowflake.  Visit Business Insider's homepage for more stories. After a dip in initial public offerings in the spring, the market is back in full swing. Tech companies that sat out market volatility and pandemic-induced business uncertainty in the first half of the year are making plans to exit in coming months, now that the market has calmed down and investors have signaled their desire to put big money to work in newly-public companies.  March, April, and May saw only 13 total IPO pricings, per research from Renaissance Capital. Then June and July ramped up, with 58 pricings total, including tech names like ZoomInfo and SoftBank-backed Lemonade.  Ted Smith, the co-founder of tech-focused investment bank Union Square Advisors, said he's identified 50 tech companies in the IPO pipeline. But even with the uptick, the bar for IPOs could still be high for many tech names.  Read more: Equity is the new debt, with Corporate America selling record amounts of stock to stockpile cash. Here's what prompted the sudden shift. "We absolutely could exceed last year's total numbers of IPOs. Performance so far for the 2020 class has been very positive, which reinforces investors' desire to participate," he said. "It's important not to lose sight of the fact that even with an open IPO market, which I believe we have, the vast majority of exits of venture-backed companies in tech are still going to come from M&A, not an IPO. It's still fairly rarified air with respect to who should become a standalone company."  There were 159 IPOs in 2019 in the US last year, according to Renaissance Capital, of which 41 were tech companies.  Going into 2020, bankers said they'd planned to front-load IPOs to avoid November's tumult, but many of those offerings paused when markets turned volatile in March.    Here are eight companies poised for a public-markets exit, though how they do so – traditional IPO, direct listing, or special purpose acquisition vehicle (SPAC) – is often still up in the air. The companies could decide to stay private and raise additional capital, as many have done in recent months. They could also sell, like when Uber agreed to buy Postmates more than a year after the food delivery company confidentially filed to go public.  See more: Big investors have been slashing valuations on stakes in private companies like Palantir and Sweetgreen. But bankers say there could be a quick fix.SEE ALSO: A 179-year-old data shop just raised $1.7 billion in an IPO. Dun & Bradstreet's president walked us through its quick return to public markets and why the company's in high demand. Affirm As buy now, pay later companies see growing interest from merchants and consumers, one of the biggest players in the space is eyeing an exit this year.  Affirm, founded in 2012 by PayPal cofounder Max Levchin, partners with merchants big and small — from international brands like Adidas to niche retailers like Brooklinen and Peloton. The company is working with Goldman Sachs on a potential 2020 listing or a sale, including to a SPAC, the Wall Street Journal reported last month. An IPO could value the company at as much as $10 billion. A spokeswoman for Goldman declined to comment on Affirm and other IPOs.  Affirm has raised $800 million from investors including Andreessen Horowitz, Lightspeed Venture Partners, and Spark Capital. In its last funding round in April 2019, the company was valued at $2.9 billion, but its valuation has since risen to more than $5 billion – even up to $10 billion, the WSJ reported.  In late April, Levchin told Business Insider that he was eyeing expansion opportunities while other tech CEOs were battening down the hatches. Read more: Shopify and Affirm are partnering up on buy now, pay later in a deal bringing together 2 of the hottest e-commerce players. Here's why it's a big win for both sides. Affirm's peer Afterpay has seen its stock double in the last six months, and it became Australia's largest listed tech company by market value as customers shifted quickly to online shopping.  A spokeswoman for Affirm declined to comment.  Airbnb The homesharing company has played the "will they, won't they" IPO game for more than a year, and some employees' stock grants expire at the end of 2020.  See more: How 3 guys turned renting air mattresses in their apartment into a $31 billion company, Airbnb Airbnb, whose public-markets entrance is guided by Morgan Stanley and Goldman Sachs, was one of many late-stage companies to explore a new form of direct listing that would allow companies to raise capital. The Securities and Exchange Commission shot down the New York Stock Exchange's push for such a rule change in December, though the agency said it could be open to other iterations of the new direct listing.  CEO Brian Chesky said last month that the company has been approached by SPACs, too.  "We're looking at everything, so I probably shouldn't speculate too much on it," he said in an interview at a Reuters Newsmaker event.  In April, the company raised $2 billion in two rounds of debt from investors including Sixth Street Partners and Silver Lake. Reuters reported that warrants the investors received as part of the debt deal can be exercised at an $18 billion valuation, lower than Airbnb's early-March $26 billion valuation.  As Business Insider reported, Principal Global Investors slashed the valuation it put on its stake in Airbnb by 20% from the end of March to the end of June — after it had already cut the startup's worth by 30% in March alone.  The company's revenue dropped 67% in the second quarter, to $335 million, Bloomberg reported in mid-August. Bookings picked up in the end of the second quarter, as customers looked to book lodging for close-to-home getaways, rather than international travel.  Bloomberg also reported that Airbnb would go public by year-end.   A spokesman for Airbnb declined to comment.  Read more: 40 insiders reveal the meteoric rise of Silver Lake's Egon Durban, the tech-focused PE firm's No. 1 dealmaker who strong-armed his way to the top and is about to get $18 billion more to invest Asana Productivity software startup Asana hired banks last year and raised debt earlier this summer ahead of a likely listing in September.  Last week, The Information reported that Asana projected in July that its revenue would jump to $236 million this year, up from $142 million last year, and in 2021, revenue will grow 51%, to $355 million.  The San Francisco-based company hired Morgan Stanley and JPMorgan, the Financial Times reported in December.  And when it raised $200 million in convertible debt, Bloomberg reported in June, cofounder and CEO Dustin Moskovitz was the main lender.  In February, Asana said it confidentially filed paperwork to go public via a direct listing.  Founded in 2008, Asana's investors include Generation Investment Management, Benchmark Capital, and Founders Fund.  The company said it was deepening its relationship with Microsoft, helping it appeal to a broader customer base, Business Insider previously reported. A spokeswoman for Asana declined to comment.  See more: Facebook cofounder Dustin Moskovitz explains how his $1.5 billion startup Asana hit a $100 million milestone   DoorDash The delivery company filed confidential paperwork to go public in late February, with Goldman Sachs as its lead underwriter. Then its plans and business were upended by the pandemic.  In early March, CEO and co-founder Tony Xu told Business Insider that he was in no hurry to go public. "Just because you confidentially file ... it doesn't mean that you're going to go public tomorrow, and it also doesn't mean that you have to go public," Xu said in a meeting at DoorDash's nearly empty San Francisco headquarters. "A lot of this work was done a long time ago."  In mid-June, the company said it raised $400 million in new equity funding at a $16 billion valuation. JPMorgan is also advising DoorDash on its IPO plans, said a source familiar with the path to public markets.  The competitive landscape for delivery companies has changed dramatically in recent months, as the pandemic intensifies demand for DoorDash and its peers. That's led to some M&A, including the July deal for Uber Eats to buy Postmates and a June deal for European company Just Eat Takeaway to buy Grubhub for $7.5 billion.   DoorDash has recently expanded from food delivery to partnerships with big companies like Walgreens and a convenience store concept called DashMart starting in eight cities that delivers convenience, grocery, and restaurant items.   A spokeswoman for DoorDash declined to comment.  See more: Tony Xu, the founder and CEO of $13 billion DoorDash, said the hardest funding round to raise was the first. Here's what he learned from the experience. GitLab Back in 2015, GitLab set a very specific goal: it would go public in November 2020. CEO Sid Sijbrandij said, even before the pandemic, that the developer startup could go earlier or later than the specific date of November 18. In January, the company said it hit more than $100 million in annual recurring revenue.   True to its ethos as a radically transparent company, GitLab laid out the steps it needs to take before it goes public in its handbook. In July, the company removed its previous IPO date target to "maintain flexibility."  Sijbrandij said the company would pursue a direct listing, but it wouldn't rule out a traditional IPO.  In September 2019, GitLab said it raised $268 million at a $2.75 billion valuation. Its investors include Y Combinator, BlackRock, Franklin Templeton, Light Street Capital and Tiger Management, and Two Sigma Investments. It's unclear who's advising GitLab on the IPO process, and a spokeswoman declined to comment on the company's plans.  See more: GitLab is eyeing a direct listing in November 2020, but its CEO explains why the $2.75 billion company could still go the traditional IPO route Instacart Like DoorDash, Instacart's business has exploded during the pandemic.  To keep up with the growth, in June, the grocery delivery company, which was founded in 2012, raised $225 million and then another $100 million in July at a $13.8 billion valuation.  "Overnight, Instacart became an essential service for millions of families across North America," CEO Apoorva Mehta said in a June statement.  No IPO timeline is publicly set, but Mehta told CNN back in January 2019 that he was thinking about it.  "An IPO is definitely on the horizon for us," Mehta said. "As we think about building a long-term company, we think being a public company allows us to do that in the best possible way." A spokeswoman for Instacart declined to comment.  Palantir Palantir Technologies plans to go public using a direct listing in late September, Bloomberg reported last week. Palantir, the secretive data analytics firm founded by Peter Thiel, has spent nearly two decades running on venture capital, and eventually, on revenue. The company announced last month that it had confidentially filed draft paperwork to go public, but so far none of its financial information has been made public. A public filing from early July shows the company is in the process of raising $961 million in private capital. So far it has raised $550 million, mostly from the Japanese holding company Sompo Holdings.  Looking at the direct listing processes for Spotify and Slack – the only companies to go public that way – offer some clues to the path Palantir may take, Business Insider reported on Saturday.  Both Spotify and Slack direct listings relied on the same three financial advisors: Goldman Sachs, Morgan Stanley, and Allen & Company. And both companies listed on the New York Stock Exchange. It's unclear which banks Palantir will work with or where it will list.  A Palantir spokeswoman declined to comment on the company's plans.  See more: Secretive Palantir Technologies is preparing to go public. But behind the cloak-and-dagger image, insiders and investors say, it's struggled to build a steady revenue model. Snowflake Cloud database company Snowflake, advised by Goldman Sachs, filed confidentially with the SEC, the Financial Times reported in June.  Snowflake is aiming for a valuation of between $15 billion and $20 billion. The FT also reported the company was planning a summer IPO but could wait until September or October. When the company raised $479 million in February at a $12.4 billion valuation, CEO Frank Slootman said Snowflake was nearing $1 billion in annual revenue and was close to generating positive cash flows.   Read more: Snowflake is targeting Wall Street with a new data exchange that's already signed up FactSet and Coatue In total, Snowflake has raised $1.4 billion from investors including Sequoia and ICONIQ Capital. "It's going to be the blockbuster enterprise listing for 2020," Constellation Research analyst Ray Wang told Business Insider in June. "Investors are looking for winners on cloud and analytics." Snowflake is building out a data exchange where providers can connect with the consumers of their data in a marketplace hosted and managed by the startup, Business Insider reported in March. Early adopters include the hedge fund Coatue, the data giant FactSet, and the $53 billion asset manager Causeway Capital Management.  A representative for Snowflake declined to comment on IPO plans.  See more: Here's why $12.4 billion cloud startup Snowflake's reported IPO plans could make it 'the blockbuster enterprise listing for 2020'
  Happy Saturday! Hedge funds that love to use Robinhood data to hunt for winning ideas won't be able to tap its enormous pool of trades in quite the same way anymore. As CNBC first reported, Robinhood is no longer publishing how many customers held a particular stock, and the retail-trading app is also limiting access to its API. And as Dakin Campbell and Dan DeFrancesco learned, hedge funds were pinging other data providers within hours of hearing the Robinhood news to try to line something else up.  Read the full story here: Steve Cohen's Point72 and other hedge funds are sending urgent requests to find a replacement after Robinhood data on hot stock trades suddenly went dark What does it take for vendors to win customers over on a data feed that's not quite so high on their list of priorities? Dan teamed up with Bradley Saacks to ask gatekeepers at top alt-data consumers what they look for in a pitch. You can read all their responses here: How to pitch Bridgewater, Balyasny, and other big names on buying new data sets, according to 7 people in charge of their strategies Goldman Sachs is among bidders for GM's credit-card business, the Wall Street Journal reported this week, a move that could mark another big push into consumer finance for the firm. Meanwhile, Goldman and other banks have been going all in on creating their own internal content machines in a bid to win customers — and the general public — over. Dakin Campbell and Rebecca Ungarino took a look at who's driving that push and how work-from-home has taken those efforts to the next level. Read the full story here:  Wall Street banks like Goldman Sachs have been building out their own in-house media organizations to help control their image. Now they're kicking production into overdrive. More big headlines from this week below, including pay drama at PwC, how in-person client schmoozing is making a comeback, and the latest on what's going on inside Merrill Lynch's financial-adviser trainee program after an unusual pause on client outreach.  If you're not yet a subscriber to our finance newsletters, you can sign up here. Have a great weekend,  Meredith  The head of Merrill Lynch's financial adviser training program, the firm's main talent pipeline, is leaving The head of Merrill Lynch's financial adviser training program is leaving after a year and a half in the role, industry news website AdvisorHub first reported on Friday. Jennifer MacPhee's successor, who the firm will name in the coming weeks, will have to contend with a shifting adviser training and recruitment landscape in an aging industry trying to attract new blood. Bank of America's wealth manager recently prohibited its financial advisers in-training from reaching out to prospective new clients. And as Rebecca Ungarino reported earlier this week, the reason for Merrill Lynch's temporary pause was "many" outreach-related violations across the organization. A former PwC partner just sued the firm for $15 million in compensation, offering a rare look at pay and wrangling over clients at a Big 4 firm As Jack Newsham reports, a new lawsuit is packed full of details about compensation and how partners get credit for business they bring in at PwC — including a copy of a PwC offer letter that was attached to the complaint.  Wall Street is taking clients for long walks on the beach and out to dinner outdoors in the Hamptons as safe schmoozing picks up Offices may still be largely empty, but Wall Street is upping its game when it comes to entertaining clients. Dinners in Manhattan are back on — but not everyone is thrilled about sitting on a city sidewalk in the summer heat. Those looking for an alternative can try golf, beach walks, or dining al fresco in the Hamptons. Bradley Saacks, Meghan Morris, and Rebecca Ungarino have all the details  Investment manager TIAA is shrinking headcount with buyouts offering up to 2 years of pay. Now 10% of its workers are cashing out. Investment manager TIAA's voluntary employee buyout program was so successful that the company now says it can avoid layoffs through 2021. Meghan Morris laid out how the buyout offer played out and which areas of the firm saw the most uptake. TIAA's asset-management arm, Nuveen, saw lower participation in the program than the overall company. WeWork nabbed a fresh $1.1 billion in financing from SoftBank as the coworking giant's membership dropped WeWork saw its membership number fall in the second quarter, but the coworking giant continued to add locations and nabbed a fresh $1.1 billion from lead investor SoftBank. Meghan Morris rounded up details on revenue and the firm's latest take on how a multi-year turnaround plan is playing out. Investments in risky hotel debt could get wiped out as travel gets slammed — and one group of lenders may see an outsized hit South Korean lenders poured billions of dollars into US commercial real-estate acquisitions in recent years, including hotel properties that have been battered in recent months by the pandemic. Dan Geiger explains what drove the investment spree and what's next for the firms.  Equifax's CTO walked us through a Google Cloud migration that's addressing security concerns, cutting $240 million in costs, and helping speed up product launches Dan DeFrancesco chatted with Bryson Koehler, the chief technology officer of Equifax, who detailed the digital transformation the consumer credit-reporting giant has undergone over the past two years. Koehler shared that Equifax has put a significant amount of a $1.25 billion investment toward full adoption of the public cloud, already decommissioned 10 data centers, and is on pace to save $240 million. On the move $34 billion Citadel poached a rising star from billionaire Lee Ainslie's Maverick Capital to join its Ashler stock-picking unit. Deutsche Bank has poached a senior trader from HSBC to bolster its distressed-credit business, a powerhouse group that's been hit with defections in 2020. Careers Students are weighing the pros and cons of virtual law school. Here's why some are deferring, and what that means for job prospects. How people of color can identify mentors on Wall Street and progress their careers, according to a Black JPMorgan VP Private equity Private-equity fundraising hit a 2-year low in Q2 as coronavirus wreaked havoc with businesses and travel. We spoke to experts about why the drop is a 'pause, rather than a wholesale change.' Private-equity giants like Carlyle are inking more deals in Asia. Here are the areas where they see the most investing opportunity. Real estate Neighbor, an Andreessen Horowitz-backed startup that wants to be the Airbnb of self-storage, is partnering with landlords to turn empty offices into spaces for people's stuff A student-housing developer is facing backlash after pressuring schools to bring college kids back to campus so it could keep its revenues up Real estate giant CBRE has an 'unparalleled' amount of data. Its tech chief lays out how it's putting it to good use. Massive office landlord Vornado is planning to install face-reading cameras to track tenants in the bulk of its huge portfolio SL Green is moving to foreclose on a building on NYC's glitzy Fifth Avenue shopping corridor, highlighting a dismal outlook for commercial real-estate Payments and fintech A fintech that helps Twitch, Showtime, and CBS manage their subscriptions is eyeing international growth after nabbing a big investment from Accel-KKR TD Ameritrade's growth accelerator just launched an app for college debt as its first startup. Execs at the brokerage giant explain why it's a key tool to build entirely new businesses. A Y Combinator-backed payments startup that's raised $16 million just launched out of stealth mode. Here's a look at how it's plugging into accounting software like Quickbooks to help companies manage bills. PayPal-backed rewards app Dosh is eyeing 150 million new customers through partnerships with Venmo and other fintechs as it taps into the booming cash-back industry Hedge funds Dan Loeb lays out why $13 billion Third Point is loading up on Disney stock and calls the streaming business an opportunity of a lifetime Data scientists and engineers are leaving Amazon and Facebook for hedge funds. Here are the firms that are winning the battle for top tech talent. Asset management Here's who's most at risk once asset managers ramp up layoffs as the pandemic pressures the already-squeezed industry Join the conversation about this story » NOW WATCH: How waste is dealt with on the world's largest cruise ship
Just one in 12 startups succeed, with most failing between their second and fifth year of growth. Startup incubators can help startups learn how to succeed, and accelerator programs help early-stage businesses grow faster. On average, incubated businesses have an 87% survival rate over five years. We researched the industry to find 10 startup incubators and accelerators that can help you during and after the COVID-19 pandemic. Visit Business Insider's homepage for more stories. It's natural to fear launching a business, given that only one in 12 succeed. A startup incubator — a space for businesses to learn new strategies, source seed funding, and collaborate with partners — can offer a lifeline, while accelerator programs help companies grow faster. Incubators are for groups with a new idea, whereas accelerators are for startups that already have a viable product. The National Business Incubation Association has found that 87% of businesses that used incubators survived their first five years, compared with 44% that did not use them, and big brands like Airbnb and Dropbox were launched through incubator programs. 2016 research also shows that accelerators speed up early-stage growth. With more than 7,000 incubators globally, it can be hard for any startup to narrow down their options and find the best fit. We researched the most popular ones to find those that are proven to add value to early-stage businesses, and created a list of 10 of the best incubators and startups, spread across the world. Read on to find out more.SEE ALSO: Inside a virtual startup accelerator, where founders learn to grow a business, perfect pitches, and talk to mentors — all over Zoom and Slack Y Combinator Y Combinator is an international startup incubator that has funded 2,000 companies since 2005, with an average total outlay of more than $250,000 per year. The incubator hosts their program twice a year, and has an acceptance rate of 1.5%. It lasts three months, and founders, venture capitalists, and executives from successful companies, such as Salman Khan from education nonprofit Khan Academy, give talks, and connect businesses with Y Combinator partners and alumni.  Y Combinator carries on its help after businesses leave the incubator, too. After Y Combinator funds the startup, the founders have access to the partners and alumni who provide guidance on scaling. Some of the notable companies to have emerged from Y Combinator are Airbnb, Stripe, Doordash, Twitch, Dropbox, and Weebly. Its companies have a combined valuation of more than $100 billion. Entrepreneur First A fast-growing incubator focused on promising people, rather than early-stage companies. Twice a year, Entrepreneur First (EF) invites 100 entrepreneurs to join one of its six European programs — the idea is that people in the cohort will connect, and together cofound companies. Its big-name backers include the founders of LinkedIn, DeepMind, and PayPal. More than 300 companies have launched thanks to EF, and they have a combined value of $2 billion. Success stories include image processing startup Magic Pony Technology, which was bought by Twitter for $150m less than two years after its founders met on an EF programme.  Bridge for Billions Bridge for Billions is an online-exclusive incubator open to startups globally, and it has already helped 1,500 entrepreneurs across 70 countries. It gets results: In 2019, 83% of entrepreneurs said they were satisfied with the quality of mentoring they received, and the majority of businesses in the program survive the years after the incubation. Bridge for Billions has developed training programs with Coca Cola, Unido, and other large firms. Startx The Startx incubator program is well-known for its exclusivity with Stanford-affiliated entrepreneurs. Its startups have a combined valuation of more than $25 billion, and include Life360, Patreon, Lime, and more. Unless you're affiliated with Stanford or specifically invited to the program, you need not apply — but it's beyond doubt that Startx has helped hundreds of global startups thrive. Out of the 700 startups it has funded since 2011, 92% of Startx's companies are still growing or have been acquired. StartupDevKit StartupDevKit is a fully online incubator. Developed for aspiring entrepreneurs and international startups, it works with founders from their original idea to growth-stage, providing instructional resources throughout on how to effectively scale a startup. StartupDevKit has partnered with Hubspot for Startups, a training and software platform, to offer coaching videos, guides, and business templates to its startups. This incubator program also offers a 14-day free trial for all users.  Techstars Techstars is more of an accelerator than an incubator — it helps existing companies grow fast. It's US-based, but it has a presence outside North America, too. It has helped more than 2,000 companies, including SendGrid and DigitalOcean, and ploughed more than $9.3 billion into early-stage businesses. It works with Microsoft, Google for Startups, and Hubspot for Startups to provide resources to its startups, and they work: 90% of Techstars companies are still growing or have been acquired. 500 Startups 500 Startups has invested in more than 2,400 startups in 75 countries. According to Pitchbook, it is the world's most active global venture capital investor. It has produced ten unicorn companies — firms with a valuation of at least $1 billion — including Canva, Udemy, and GitLab. 500 Startups offers several accelerator and fund programs, and the content varies based on location. In 2018 alone, it funded more than 155 startups and committed $454 million in capital to companies. FinTech Innovation Lab FinTech Innovation Lab has invested more than $1.1 billion in its startups and has 184 alumni businesses. The accelerator has three primary locations: New York, London, and Asia Pacific. In each location, its 12-week programs end in a demo day where companies present their products to finance executives, journalists, and investors.  Throughout the course, startups receive mentoring from both fintech firms and VCs, and take part in workshops and mini-conferences — its impressive list of mentors include former Blackrock and Goldman Sachs execs. Its focus is banking and insurance, but its companies span the fintech industry: Its 2019 New York intake heavily featured AI, insuretech, and compliance startups. Pioneer is one of the most open international startup accelerators — it is fully remote, and has worked with companies across the world, from Metacode in South Africa to ThisCodeWorks in Pakistan. It provides mentorships in fundraising, strategy, product, and growth. Pioneer also offers investments to select companies, and is funded by payments platform Stripe and American entrepreneur Marc Andreessen. Entry is decided by winning a "tournament": founders enter a project, and submit weekly updates which are voted on by experts. Those that reach the top 50 are reviewed further, and from those, a panel selects "Pioneers" for the program, who get a round-trip ticket to Silicon Valley and $100,000 each in Amazon Web Services and Google Cloud credits. Pioneers also get access to Pioneer Camp, where they are mentored, and the Pioneer Demo Livestream, where they present their products. BoomStartup BoomStartup is another technology-based seed accelerator. There is no application process — you just register to receive a bespoke growth plan. BoomStartup has raised more than $55 million in seed capital, and amassed more than 400 mentors in its network. The companies that have come through its program include InScribe, Knowlocker, Rappi, and SuccessKit. BoomStartup has helped more than 170 companies and more than 70% have achieved funding of between $500,000 and $1.5 million. 
Power couple Annie Hwang and Jason Cui built Jemi, a Patreon alternative that landed them a coveted spot in Y Combinator's Summer 2020 batch. Jemi helps creator entrepreneurs to sell merchandise and experiences, such as autographed pictures, 1-on-1 virtual hang outs, and acting classes. So far, they've brought on ex-Guns N' Roses lead guitarist Bumblefoot, Olympic figure skater Karen Chen, and actor Sean Whalen, who is best known for his roles in the horror film 'The People Under the Stairs' and the 1996 thriller 'Twister'. Business Insider spoke with Whalen about why he choose Jemi over alternatives like Patreon.  Visit Business Insider's homepage for more stories. Annie Hwang and Jason Cui met on the first day of college at Harvard, where they later started dating. After graduating in 2018, they worked as product managers and launched their tech careers. After the coronavirus pandemic struck, the power couple started brainstorming new ways to get audience members to interact with, and pay, content creators that use live streaming platforms like TikTok. In April, they launched the private beta version of Jemi, a Patreon alternative that landed the couple a coveted spot in Y Combinator's Summer 2020 batch. "We want to build this next generation of creator entrepreneurs," Hwang told Business Insider in an interview.  The country's ongoing shelter-in-place orders means that many actors, comedians, and musicians are unemployed and turning to live streaming, she explained. Creators "deserve to be monetizing their time and individuality," Hwang added, noting that "not all creators are making money." Jemi allows creator entrepreneurs to offer merchandise and experiences, such as autographed pictures, 1-on-1 virtual hangouts, and acting classes. The startup takes a cut from each transaction, Cui explained, though he didn't reveal specifics.  When Jemi launched in April, Hwang started reaching out to creators. So far, Jemi has brought on ex-Guns N' Roses lead guitarist Bumblefoot, Olympic figure skater Karen Chen, and actor Sean Whalen, who is best known for his role in the films 'The People Under the Stairs' and 'Twister'.  "We're not going after the typical celebrities," Hwang said. "They see themselves as content creators." Whalen, who most recently appeared in the 2020 film 'American Pickle' starring Seth Rogen, told Business Insider in an interview that, before he discovered Jemi, he'd been looking for new ways to make money from his TikTok live streams, where many of his 100,000+ followers tune in weekly. Whalen said that Jemi has been helping him make extra cash, as "there's no production going on" in the film industry.  "I gave Patreon a try," he said, "but my followers weren't into the subscription model." Die-hard horror fans from the Midwest Many of his followers, Whalen explained, are die-hard horror fans that come from rural parts of the Midwest. "They know me as Roach from The People Under the Stairs or from Twister," he said. The actor's name also got a boost from Netflix, which added Twister to the streaming platform at the beginning of June (before removing the film 2 months later). Whalen, who sells merchandise like autographed photos, DVDs, and Blurays, said he also tried including links to his PayPal and Venmo accounts on his TikTok live streams. But many of his fans would tell him "I don't have Venmo! I don't have PayPal," the actor said, explaining that the payment platforms aren't as popular among fans in rural areas.  Jemi made the process simple: Followers make one-time purchases by inputting their shipping and credit card information, all in one place. "Almost everyone has a credit or debit card," the actor said of his fanbase.   Since switching from Venmo and PayPal to Jemi, Whalen says his sales have increased by more than 30%. On his Friday TikTok live streams, his busiest days, he said that he sells about 40-50 items in 2 hours, and that Jemi makes it easier to manage the influx of requests.  There have been some hiccups, Whalen admitted, but he also said that the young entrepreneurs who founded the company "are willing to learn, and there's no ego around that."SEE ALSO: A former Apple TV designer built a livestreaming startup to challenge Twitch, and he's betting the key to winning will be live rap battles Join the conversation about this story » NOW WATCH: Here's what it's like to travel during the coronavirus outbreak
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