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☆ Making money as a startup is hard, so these New Jersey companies are selling their financial losses in exchange for millions in cash
▼ + stars: | 2023-06-01 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +4 min

The state of New Jersey offers a unique program that allows startups in the state to sell those losses for cash. To date, TrueFort has pulled in $20 million through a New Jersey program for startups. Those companies can then deduct those losses from their taxable income, cutting the amount of money they pay in taxes. The NOL program is especially popular among biotech businesses like Lisata, which are characterized by large R&D expenses and unpredictable paths to profitability. The NOL program is part of a suite of programs designed to support New Jersey startups.

Persons: Sameer Mahorta, TrueFort, Malhorta, David Mazzo, Mazzo, Lisata, Mahorta Organizations: Partners, Shasta Ventures, New, New Jersey Economic Development Authority, state's Technology, Bank of America, NOL, Garden State Locations: New Jersey, Weehawken, Silicon, Garden

☆ 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.

☆ Venture Capitalists Seek to Buy Phoenix Suns With Potential Financing From Peter Thiel and Others
▼ + stars: | 2022-12-10 | by ( Marc Vartabedian | ) www.wsj.com time to read: 1 min

Two venture capitalists have submitted a bid to buy the Phoenix Suns and Mercury professional basketball teams for $3 billion, an offer that could include financing from tech mogul Peter Thiel, according to people familiar with the matter and an offer sheet reviewed by The Wall Street Journal. The group is one of a handful of potential buyers, according to the people. The bid was submitted by Jack Selby, the managing director of West Hollywood, Calif.-based investment firm Thiel Capital, which was founded by Mr. Thiel, and Jason Pressman, the managing director of Menlo Park, Calif.-based venture firm Shasta Ventures.

☆ A former Shopify exec is taking a page out of the e-commerce company's playbook to build planning software for parents
▼ + stars: | 2022-10-05 | by ( Madeline Stone | Melia Russell | ) www.businessinsider.com time to read: +6 min

With Maple, parents can create and assign tasks like paying the bills, planning a family trip or birthday party, and doing chores. "The next Martha Stewart is going to be made on Maple," Perry said. For example, a Disney aficionado created a guide for visiting Disneyland that parents planning a trip could find within the Maple app's browser. "Planning the trips, planning for summer camp, planning for Disneyland, planning the week's meals, the college financial planning — whatever they're planning, there is a family in need of that same exact information." The Shopify App Store, which has more than 7,000 apps geared toward online sellers, also provided some inspiration for Perry.

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