Wednesday, July 11th, 2018


Postmates Launches in more than 100 Cities and Deepens its Partnership with Chipotle
Postmates Blog Post
Postmates Company Press Release

The company announced on Tuesday that it has launched in more than 100 new cities in the United States, its third largest expansion to date.

It also announced that it has expanded its national delivery partnership with Chipotle with over 300 new locations that support delivery.

Postmates operates in 385 U.S. cities and provides access to over 250,000 merchants. According to the company, it generates over a billion dollars in Gross Merchandise Volume annually.


Jet.com Launches a Grocery Delivery Service
The Wall Street Journal
CNBC

According to the Wall Street Journal, Jet.com will be launching a fulfillment center in New York this Fall.

The move will help the company directly compete with same-day grocery delivery services such as Amazon.

CNBC reports that the new fulfillment center will be handling Jet.com orders for the initial launch. Jet.com was acquired by Walmart in 2016.


TD Bank Group Acquires Greystone Managed Investments
TD Bank Group Press Release

The Toronto Dominion Bank announced on Tuesday that it has entered into an agreement to acquire Greystone Managed Investments for $792 Million.

The deal will help TD Asset Management become the largest money manager in Canada. It will add Greystone’s $36 billion in assets under management to TD’s existing $357 billion under management, totaling approximately $393 billion of assets under management at TD.

Greystone was founded in 1988 and employs 200 people. It will operate under the name TD Greystone Asset Management out of its headquarters in Regina, Saskatchewan.


Visa Launches Loyalty Solutions in Latin America and the Caribbean
Company Press Release

The company announced on Tuesday that it has launched a new loyalty platform available to all issuing banks in Latin America and the Caribbean.

The white-label solution, called Visa Loyalty Solutions, enables issuing member banks of any size to offer top-of-the-line rewards and customer care programs branded as their own.

The platform has partnered with 285,000 hotels, hundreds of airlines and a wide network of car rental companies around the globe.


Box Acquires an Artificial Intelligence Company
Box Blog Post
Butter.ai Crunchbase Profile

Box announced on Tuesday that it is has acquired Butter.ai, a company that uses machine learning to provide relevant content with context across a variety of enterprise services.

The deal will help Box’s 85,000 customers navigate through their unstructured data, enabling contextualized, predictive, and personalized search.

According to Crunchbase, Butter.ai is based in San Francisco and was founded in 2016. Terms of the deal were not disclosed.


DropCar Partners with Volvo Cars Manhattan
DropCar Press Release

DropCar announced on Tuesday that it has teamed up with Volvo Cars Manhattan.

Under the deal, customers will be able to have their car picked up from wherever they are in the city, have the vehicle sent for maintenance, and have it delivered back to them at their desired location.

Volvo Cars Manhattan joins a growing list of dealers in the Tri-State area that have licensed DropCar’s service, including Manhattan Motorcars, Jaguar Land Rover Manhattan, and Lexus of Manhattan.

DropCar also announced that the company will be expanding nationwide.


BMW Expands into China
BMW Press Release
Marketwatch

The BMW Group announced on Tuesday that it is working with the Chinese manufacturer, Great Wall Motors, to produce MINI brand electric vehicles. The new 50:50 joint venture will be based in China.

Marketwatch reports that the deal is part of several agreements signed between German and Chinese companies during Chinese Premier Li Keqiang’s visit to Berlin this week.

BMW also announced that it will expand its joint venture in China with its partner, Brilliance. The company stated that approximately 560,000 BMW branded vehicles were delivered to customers in China in 2017 which was more than US and Germany combined.