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☆ Exclusive: 11x, a London-based AI startup that builds automated digital workers, is raising money from US fund Benchmark
  + stars: | 2024-05-01 | by ( Callum Burroughs | Riddhi Kanetkar | ) www.businessinsider.com   time to read: +2 min
11x, a London-based AI startup that creates automated digital workers, has raised funding from US investing giant Benchmark Capital. The company aims to provide businesses with "digital AI workers" that can complete repetitive and mundane tasks to free up employees to focus on other things. The startup has raised a Series A round of funding, led by US fund Benchmark, four sources familiar with the discussions told Business Insider. Related stories11x's deal was led by Benchmark general partner Sarah Tavel, who will join the startup's board. The startup created a digital sales worker named Alice and plans to release several other digital workers in the future.
Persons: Hasan Sukkar, Sarah Tavel, Uber, Alice, Slack Organizations: Benchmark, Business, US, Bessemer Venture Partners, Twitter, Benchmark Capital, Google, Project A, Ventures, Tiny Ventures, LinkedIn Locations: London, Syrian, Europe, Syria
☆ Moneyball-Plus: What Happens When Investors Treat Athletes Like Startups
  + stars: | 2024-01-28 | by ( Joseph Bien-Kahn | ) www.businessinsider.com   time to read: +27 min
What if athletes could sell a percentage of their future earnings to investors, the same way tech entrepreneurs offer a stake in their promising new ideas in return for venture capital? "We look at the game very, very differently than everyone else," Schwimer tells the pitcher. Finlete is launching a fund that allows fans to buy shares in a prospect's future earnings. What if you could sell a share of your future earnings, he asked, for $10,000? Today, he says, more than 80% of the players BLA has invested in are outside the league's top 300 prospects.
Persons: They're, Michael Schwimer, —, Schwimer, BLA, haven't, Fernando Tatis Jr, We've, it's, Daniil, David Liberman, Garrett Broshuis, he'd, He'd, Houdini, Christian Petersen, Erik Kratz, Kratz, Cole Hamels, Hamels, Sean M, Marvin Bush, George W, Bush, Paul DePodesta, bankroll BLA's, Bill Miller, Miller, HBO's, Michael, Jeff Bezos, Bezos, I'd, I'm, Steven Duncker, Goldman Sachs, Elly De La Cruz, Dylan Buell, phenom, Scott Boras, Yermín Mercedes, Francisco Mejía, countersue Mejia, Gervon Dexter, they're, Dexter, Wharton, He's, he'll, isn't, scoffing, he's Organizations: Philadelphia Phillies, Big League, San Diego Padres, Benchmark Capital, Sports, Wharton Sports Business, MLB, University of Virginia, Partners, Phillies, Getty, AAA, Arizona Fall League, Ritz Carlton, Cleveland Browns, Dodgers, Cleveland Indians, Big League Advance, Chicago Bears, University of Florida, Huntsman, NCAA Locations: Maryland, Philadelphia, United States, baseball's, Latin America, America, Dominican Republic, Cleveland, Florida
☆ AI startup cloud deals by Microsoft, Google and Amazon ring 'accounting alarm bells' across Silicon Valley over revenue 'round-tripping'
  + stars: | 2023-05-19 | by ( Eugene Kim | Stephanie Palazzolo | ) www.businessinsider.com   time to read: +10 min
Some investors question whether these arrangements are artificially juicing cloud revenue growth. When Microsoft announced a multibillion-dollar investment in OpenAI earlier this year, the deal made Azure the ChatGPT-maker's "exclusive cloud provider." There's another deal in the works with similar attributes involving Runway AI and a major cloud company. But they are drawing more scrutiny lately because they could artificially inflate cloud revenue, a key driver of growth for Microsoft, Google, and Amazon, according to Ted Mortonson, managing director of financial-services firm Baird. Is OpenAI a regular cloud customer that is getting no investment money from Microsoft?
☆ Ron Howard and Brian Grazer's LinkedIn for Hollywood workers, which just raised $15 million, is disrupting how productions are staffed at Warner Bros, Paramount, and more
  + stars: | 2023-03-10 | by ( Lucia Moses | ) www.businessinsider.com   time to read: +6 min
Ron Howard and Brian Grazer's Impact, a LinkedIn-like platform for Hollywood, recently raised $15 million. Hiring below-the-line crew members has largely been an offline process based on personal networks, Impact CEO Tyler Mitchell said. "We would have to find where the productions are, and more than anything, get people, whether they're independent films or other productions, using our products," he said. "I don't think there's a scenario where people will be using Impact to source 100 percent of a crew. The company has a database of 1.3 million people, including 30,000 crew members who are active users.
☆ Defendant in NJ deli stock fraud case makes $2,500 a month from similar shell company
  + stars: | 2022-10-26 | by ( Jack Stebbins | ) www.cnbc.com   time to read: +4 min
Med Spa, which wasn't named in the indictment, also pays $2,500 a month in consulting fees to Patten's firm Benchmark Capital. Patten's name hasn't appeared in Med Spa filings. Authorities also said they artificially inflated the market value of Hometown International and E-Waste by 939% and 19,900% respectively. Like the other two shell companies, Med Spa Vacations had an initial business goal—in this case, "specialized wellness vacation packages"—that was abandoned in favor of initiating a reverse merger. Med Spa is currently in search of a company with which to complete a reverse merger.
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