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The incumbents go shopping for startups | TechCrunch

Mar 08, 2024 - techcrunch.com
The article discusses various developments in the startup world, including mergers, acquisitions, and funding rounds. Among the notable events are Nikon's acquisition of RED, Lensrentals' purchase of BorrowLenses, and the merger of Totango and Catalyst. The article also mentions the acquisition of Cityscoot by Cooltra, the alliance between Razor Group and Perch, and the purchase of Udacity by Accenture. In terms of funding, Remofirst raised $25 million in a Series A round, Monzo secured $430 million, Axonius received $200 million, Ema came out of stealth with $25 million, and Mews raised $110 million.

The article also highlights legal issues involving Elon Musk, who is facing a lawsuit from former Twitter executives seeking $128 million in severance pay following his takeover of the platform. Musk is also suing OpenAI, alleging that the company has deviated from its non-profit mission. Other notable stories include Roku requiring users to agree to new dispute resolution terms, YX International inadvertently leaving a digital door open, and Airbnb introducing a new badge system for underperforming hosts.

Key takeaways:

  • Norwegian hardware startup was deemed uninvestable due to a wonky cap table, but investors provided advice on how to rectify the situation.
  • A Turkish startup that raised a $4 million round is benefiting from the country's high import taxes.
  • Several acquisitions occurred in the photography space, including Nikon's purchase of RED and Lensrentals' acquisition of BorrowLenses.
  • Elon Musk is facing legal issues again, this time due to a lawsuit from Twitter's ex-executives seeking their $128 million severance package, and Musk himself suing OpenAI for shifting to a for-profit model.
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