Friday, June 22nd, 2018


Web.com is Acquired for $2 Billion
Company Press Release

The company announced on Thursday that it has entered into a definitive agreement to be acquired by an affiliate of Siris Capital Group, a private equity firm focused on investments in data, telecommunications, technology and technology-enabled business service companies in North America.

Web.com provides a full range of Internet services and online marketing solutions for small and medium‐sized businesses.

The all-cash deal is valued at approximately $2 billion and it is expected to close before the end of the year.


SUPERVALU Partners with Instacart
Company Press Release

SUPERVALU announced that it has entered into a reseller agreement with Instacart.

The company is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $14 billion.

The partnership provides online shopping and delivery services to more than 3,000 independent retail stores in the over 240 metro areas where Instacart operates.


L.L. Bean Launches an Outdoor Co-working Space
Company Press Release

The company has partnered with coworking workplace startup, Industrious, to offer an outdoor coworking space, complete with individual work areas, collaborative conference spaces, and cycling desks.

The outdoor coworking space launched in New York on Thursday with plans to open similar locations over the summer in Boston Philadelphia and Madison, Wisconsin.


Twitter Acquires Smyte
Company Blog Post
Crunchbase

Twitter announced in a company blog post on Thursday that it has agreed to acquire Smyte, a San Francisco-based technology company that offers tools to stop online abuse, harassment, and spam.

Smyte’s review tools and processes will be used to strengthen Twitter’s systems and operations that will help improve the health of public conversation on the platform.

The company was founded in 2014 by former Google and Instagram engineers. And according to Crunchbase, was backed by $6.3 million in venture funding.

Terms of the deal were not disclosed.


Microsoft Acquires Bonsai
Company Blog Post
Crunchbase

Microsoft announced that it is acquiring Bonsai, a company that assists enterprise organizations with machine learning and AI capabilities.

The San Francisco based company had raised $13.6 million prior to the company’s acquisition.

Financial terms of the deal were not disclosed.


PayPal Acquires a Fraud Prevention and Risk Management Platform
Company Press Release
Crunchbase

PayPal announced on Thursday that is has acquired Simility for $120 million in cash.

Simility will help PayPal deliver fraud prevention and risk management solutions to merchants globally.

According to Crunchbase, Simility had raised $24.7 million prior to the company’s acquisition.

The announcement comes during the same week that it also announced the acquisition of Hyperwallet, a global payouts platform, for $400 million in an all-cash deal.


US States Could Collect Additional Sales Tax from E-commerce Companies
CNBC
Reuters
Wall Street Journal

States and local governments are now able to collect billions of dollars in new sales tax from ee-commerceretailers.

According to CNBC, the US Supreme Court overturned a 1992 ruling that allowed internet companies to avoid collecting sales tax if they didn’t have a physical presence in the state.
CNBC also reported that Amazon already collects sales tax in every state it sells products in, as a result, the ruling would not have as much of an impact on its pricing and operations.