19 stories
Awards season
Finalists, speakers announced for this year's MassChallenge Awards
MassChallenge, the world's largest startup accelerator program, announced its list of finalists for the annual MassChallenge Awards ceremony taking place on October 29. At the event, $1.75 million in no-strings-attached funding will be distributed among the 26 startups, narrowed down from the 128 that began the program in June. Read More
Democracy in Action
After a contentious first meeting regarding regulation, it looks like Cambridge has gone back to the drawing board. As Steve Annear reports for Boston Magazine:
Andrea Jackson, chairwoman of the city’s License Commission, said the department’s executive director would do a “complete rewrite” of a proposal floated by the city earlier this month that set off a heated debate between fans of Uber’s on-demand car services, and drivers from the taxi industry that are under strict guidelines regulated by lawmakers. “We are going to be looking to see what others states and cities have done [with services like Uber], and it will essentially be a complete rewrite of the earlier draft,” said Jackson. “The first draft was essentially just that. It was, ‘hey, let’s have a discussion about it, what do you think.’”
Ah yes, the tried and true "Throw a bunch of stuff against the wall and see what sticks and what causes a bunch of hashtag outrage" method of regulation. Works every time. Discuss
Uber-sized valuation confirmed
Today Uber confirmed previous reports of a $17 billion valuation via a new funding round. Bloomberg reported the round for the ride-hailing app was led by Boston-based Fidelity Investments. The amount of the round, however, turned out to be $1.2 billion and will rise to $1.4 billion following a second close (compared to prior reports of about $500 million). "Four years in, we are just at the beginning of the Uber story," the company said in its blog post announcing the funding. Discuss