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Apollo Global Management, LLC (NYSE:APO) - Personalized Photography Platform Shutterfly Agrees To Acquire Spoonflower For $225M: Bloomberg

Apollo Global Management, LLC (NYSE:APO) - Personalized Photography Platform Shutterfly Agrees To Acquire Spoonflower For $225M: Bloomberg
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North Carolina sees 410% increase in VC capital 2016 to 2020 – but what s the full story?

RESEARCH TRIANGLE PARK – A new report from Crunchbase finds that North Carolina is the state with the second-highest increase, on a percentage basis, in venture capital invested in startup companies, behind Michigan, between 2016 and 2020. According to the data from Crunchbase, North Carolina firms brought in $4.1 billion in 2020, compared to $800 million in 2016, which is nearly a 410 percent increase. Of course, Epic Games raised $1.5 billion in 2020 in one mega-round, and AvidXchange raised a combined $572 million. Let’s not forget the rapid rise of nCino in Wilmington (now public) and other unicorns such as Raleigh-based Pendo. Without large funding rounds, North Carolina’s totals, and its rank among the states, look a little bit different.

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Prince William provides multiple $50K grants to relocating businesses

Prince William provides multiple $50K grants to relocating businesses Prince William Science Accelerator located in Innovation Park, Prince William County welcomes its fifth tenant - Celetrix LLC. May is Business Appreciation Month in Virginia, and the Prince William County Department of Economic Development (PWDED) is kicking off the month with the announcement of the first round of recipients of the IGNITE grant program awards. “Our IGNITE grant program is a key to building momentum for attracting startups, innovators and entrepreneurs to Prince William County,” said Christina Winn, executive director of PWCDED. “This program has also benefited our strong existing business ecosystem as they reclaim and recover revenue lost in the pandemic.”

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Raleigh s Jesse Lipson secures another $8M for Levitate app, lands 2,000 paying customers

RALEIGH – For the second time in seven months, Jesse Lipson is filling his coffers. The four-time 42-year-old founder has landed another $8 million for his latest venture, a software company called Real Magic. That’s on top of $6 million raised last July, bringing total fundraising to $20 million. Its first product, aptly called Levitate, is a “keep-in-touch” marketing platform that helps businesses grow. A little more than two years after launching, Lipson says it’s taking off. “Given all of the uncertainty in the world, we decided that having some extra money on the balance sheet was a good idea,” Lipson told WRAL TechWire.

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Welcome to the Triangle: Investors, execs ready to capitalize on Silicon Valley exodus

DURHAM – With e-commerce booming in the wake of the pandemic, Spoonflower is scaling quickly. In just the last 10 months, the Durham on-demand, digital printing company has tripled the size of its workforce – and is expecting to hire an additional 100 employees the coming year. Its CEO Michael Jones, however, isn’t too worried about a talent crunch. “The number of people moving to our area has increased dramatically,” he told WRAL TechWire. “We’re seeing a strong influx from across the United States. That’s made [hiring] even easier.” Spoonflower employees working to meet surge in demand related to COVID-19. The pandemic has triggered a tech migration. As remote working becomes the norm and people become disgruntled with the cost of living and high taxes in places like California and New York, local VCs and execs say the Triangle is among the top beneficiaries.

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