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Pymnts
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Nordstrom Founding Family Takes Retailer Private in $6 Billion Deal
- The Nordstrom family, along with Mexican retailer Puerto de Liverpool, have acquired all of Nordstrom's outstanding common stock in a deal valued at approximately $6.25 billion.
- The transaction gives the Nordstrom family a majority ownership stake in the now-private company.
- The deal was approved unanimously by the Nordstrom board, with Erik and Pete Nordstrom recusing themselves.
- Nordstrom's CEO, Erik Nordstrom, expressed excitement about the future of the business and enhancing the customer experience.
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Medium
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Joyce Shen’s picks: musings and readings in AI/ML, December 23, 2024
- Musings and Readings: AI/ML news highlights
- 1. Research papers: 'Towards Friendly AI', 'Jet: A Modern Transformer-Based Normalizing Flow', 'Large Language Models and Code Security'
- 2. Discussion on enterprise AI product management and value creation with Nadiem von Heydebrand at Mindfuel
- 3. Deals: Seed financing raised by Triton Anchor, NeuroKaire, Chargezoom, Anatomy Financial, Starboard, Indapta Therapeutics, Slip Robotics, Salt AI, Basis, Hamming.ai, Simulation Theory, Kurrent, Sotelix Endoscopy, Portal Biotechnologies
- 4. Sunairio secures $6.4 million financing round for leveraging high-resolution climate data for energy asset risk simulation
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TechCrunch
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Electric aircraft startup Lilium ceases operations, 1,000 workers laid off
- Electric aircraft startup Lilium has ceased operations and laid off about 1,000 workers.
- Efforts to gain financing and exit insolvency failed for Lilium.
- The company had attracted backers and customers but was still years away from delivering its product.
- Lilium went public in 2021 but filed for insolvency in October.
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Geek Wire
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Ask the Expert: How should I monetize AI agents?
- Manny Medina, the co-founder and former CEO at Outreach, shares insights on how to monetize AI agents.
- Key approaches to monetizing AI agents include bundling them into existing seat-based pricing, charging based on consumption, implementing outcome-based pricing, or adopting success-based pricing.
- Bundling AI agents into existing pricing is common but exposes companies to variable costs.
- Outcome-based and success-based pricing align agent performance with customer goals but require more complex implementation.
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Pymnts
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Fiserv Acquires Earned Wage Access Firm Payfare
- Fiserv, a payments and financial services technology company, is acquiring earned wage access provider Payfare.
- The acquisition will enhance Fiserv's embedded finance solutions with card program management, a white-label consumer app, and a microservices orchestration layer.
- The transaction is expected to close in the first half of next year, pending shareholder and court approval.
- The acquisition provides Payfare with enhanced scale and technology to better serve a growing number of large organizations.
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Geek Wire
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Early Microsoft leaders go all in on AI with Seattle-area startup Total Neural Enterprises
- Former Microsoft leaders, including Rich Tong, have founded a new startup called Total Neural Enterprises (TNE) focusing on AI.
- TNE aims to provide an 'integration layer for businesses' that simplifies the adoption of AI tools.
- Their first product, Persuasion, helps companies analyze data and generate recommendations, streamlining the process of compiling memos or reports.
- TNE has a team of experienced leaders from Microsoft, including Paul Maritz and Satoshi Nakajima, among others.
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Hackernoon
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The HackerNoon Newsletter: Bitcoin Enthusiasts Are Letting Altcoins Pass by (12/23/2024)
- Bitcoin enthusiasts are focusing on Bitcoin and ignoring altcoins.
- Entrepreneurs in Europe discuss the future of startups in a decentralized world.
- A personal experience led to the launch of a new product.
- A review of the AI predictions that came true in 2024.
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ISN
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Bengaluru IT firm CEO, family killed in Nelamangala Highway crash; Netizens say 'Is safe car enough?'
- The recent tragic accident on Bengaluru National Highway at Nelamangala that led to the death of six people, including Bengaluru-based IT firm CEO and five of his family members, has raised concerns on whether merely possessing safe cars can avoid fatalities on Indian roads.
- The accident occurred when a container truck collided with a Volvo XC90 SUV near Tippagondanahalli that was en route to Sangli, Maharashtra, resulting in the instant death of all six occupants in the car.
- Arif, the driver of the truck, was booked for rash driving, negligence, and causing death by negligence as per the police report.
- While the Volvo XC90 is among the safer SUVs, the incident has sparked a debate among netizens that safety features in vehicles are inadequate to protect passengers in unpredictable road conditions.
- The tragedy has also led to discussions on the importance of better infrastructure, responsible driving, and stricter enforcement of traffic rules in addition to safe cars.
- While Bengaluru police reports indicate that responsible driving wasn't the cause of the accident, they are investigating to identify any motorists that contributed to the crash.
- The incident has brought to light the fact that safe drivers, safe roads, and safe cars are all crucial to ensure road safety.
- Authorities said a blue car's sudden braking that triggered the swerve has yet to be identified.
- Netizens emphasize the need for well-designed roads and driver awareness, which is essential to stay safe on the road.
- The police investigation is ongoing, and further actions against the motorists involved will be taken once the investigation concludes.
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Hackernoon
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Entrepreneurs in Europe Meet to Discuss the Future of Startups in a Decentralized World
- Belarusian founders and entrepreneurs from all over Europe gathered at a Lisbon club event to discuss the challenges that stateless startups face.
- The attendees included operators, innovators and VCs, over 30% of which were women.
- The objective of the meeting was to find ways of empowering the stateless to not only survive, but dominate, with the lens of creating the new Silicon Valley.
- The event used the World Café format to address five pain points around identity, culture, AI, funding and governance, and stateless innovation.
- The groups discussed ideas such as DAOs, modular legal setups, alignment with shared visions and values across borders, and tools like zero-knowledge proofs to replace traditional markers like passports.
- Statelessness is no longer a niche issue in the startup world, especially with the advent of AI, decentralized networks and remote collaboration platforms as the new frontier for companies.
- The event’s conclusion was that the founders successful at mastering these tools will shape the future.
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AllTopStartups
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Transforming Sales with AI Automation
- Sales automation AI leverages machine learning, natural language processing, and predictive analytics to streamline sales processes, offering precise customer insights and enabling a more personalized sales experience.
- The implementation of AI in sales processes brings numerous benefits like increased sales productivity, higher conversion rates, and scalable operations.
- Before integrating AI into sales processes, businesses must assess organizational readiness, choose the right AI solution, and ensure data infrastructure and quality.
- The success of AI implementation in sales is significantly influenced by user adoption, pilot testing, continuous monitoring, and optimization.
- AI automation should adhere to ethical guidelines and compliance standards, respecting customer privacy and ensuring data security.
- Ensuring the security of customer data and providing robust support are critical, including transparent AI operations, multi-channel technical support, and community forums for users.
- The future is bright for sales automation AI, offering new opportunities for innovation in customer engagement and sales strategies.
- AI-driven technologies represent not just a shift in technology but a fundamental evolution in how businesses connect with and serve their customers in the digital age.
- By strategically integrating AI into sales processes, organizations can drive efficiency, personalize customer experiences, and scale operations to new heights in the competitive sales landscape.
- Sales automation AI is a strategic journey, encompassing data management, user training, and continuous optimization to fully harness AI's capabilities.
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Yourstory
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OYO closes Motel 6 deal, expects EBITDA accretion of Rs 630 Cr in FY25-26
- OYO completes acquisition of Motel 6's parent company G6 Hospitality.
- Expects EBITDA to exceed Rs 2,000 crore in FY26.
- Acquisition adds 1,500 franchised hotels across US and Canada to OYO's portfolio.
- OYO aims to expand Motel 6 and Studio 6 brands by adding over 150 hotels in 2025.
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Economic Times
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European investment firm 360 Capital raises 140 million euros for climate tech fund
- European venture capital firm 360 Capital raises 140 million euros for climate tech fund.
- The 360 Life II fund will focus on investments in renewable energy, hydrogen, pollution reduction, and waste management.
- Italian company A2A commits 40 million euros and De Nora commits 10 million euros to the fund.
- Bpifrance, France's state-owned investment firm, also invests in the fund.
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SiliconCanals
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10 Lithuanian startups that raised the country’s largest funding rounds in 2024; 6 of them are hiring right now
- Lithuania is an attractive destination for entrepreneurs and investors, with over 1,000 startups and tech companies in the country.
- By mid-December 2024, Lithuanian startups had raised €86M this year through 38 deals.
- The top funding rounds from 2024 in Lithuania include Ovoko, Bourgeois Boheme, Biomatter, Vixichain, Fideum, Unmanned Defense Systems, Saltz App, Ligence, Redtrack, and Cyber Upgrade.
- For those looking for job opportunities, several of these companies are actively hiring.
- At present, Ovoko, Biomatter, Vixichain, and Ligence have open positions listed on their websites.
- Estonia had over 60 transactions this year and attracted over 345 million euros.
- Although the total investment dropped significantly, the rising share of taxes paid shows the Lithuanian startup ecosystem is growing and strengthening.
- A majority of Lithuanian startups operate successfully without external investments, but attracted investments are one of the important components.
- The Lithuanian startup ecosystem is on track for continued success in 2024.
- Lithuanian startups operate in various industries, such as fintech, synthetic biology, agriculture, cybersecurity, and more.
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Npengage
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6 Tips for Quick Response During a Time of Need
- Develop a focused emergency response plan that outlines roles and responsibilities, resource audit, and communication plan.
- Structure donation forms around specific relief efforts to mobilize support quickly.
- Add clear call-to-actions on your website to increase engagement and donations.
- Leverage technology for efficient communication using mass notification systems, social media, and mobile apps.
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Yourstory
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Adani Group to acquire Air Works for enterprise value of Rs 400 Cr
- Adani Group to acquire aviation maintenance, repair and overhaul (MRO) services firm Air Works for Rs 400 crore.
- The acquisition enhances Adani's capabilities in the defence MRO sector, solidifying its position in India's airborne defence ecosystem.
- Air Works brings extensive expertise in servicing both fixed-wing and rotary-wing aircraft.
- Adani's goal is to create an integrated aviation services ecosystem that strengthens India's aviation infrastructure.
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