Chicago e-commerce startups catapult into the new year with new platforms

January 10, 2014

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David Kalt, owner and CEO of the Chicago Music Exchange, launched Reverb.com. Reverb is an online marketplace for musicians to buy and sell gear. (Chris Hershman/Reverb.com)

CHICAGO (Chicago Tribune Blue, Sky Innovation) — There’s evidence of an innovation race in a fast-moving e-commerce space. EBay’s PayPal acquired Chicago-based Braintree in September for $800 million as part of an effort to innovate in a hypercompetitive market. EBay and Amazon now find themselves competing with not just each other but with traditional retailers such as Walmart and Target seeking […]

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Financial firms seek startup solutions to trade better, faster

January 9, 2014

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traders

CHICAGO (Chicago Tribune, Blue Sky Innovation) — Technology has already transformed financial trading, and emerging companies are still at work making options trading faster and more accessible than ever. With rising regulatory burdens, new technologies might make it safer to trade, too. Options, largely traded on the Chicago Board Options Exchange, help traders secure the […]

Landmark Chicago Board of Trade building attracts techies with $30 million revamp and new incubator

December 19, 2013

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CBOT

CHICAGO (Built In) — When the Chicago Board of Trade was sold from CME Group to GlenStar Properties and USAA Real Estate in early 2012, it was still the “old boys club” it always had been. But a $30 million revamping portends futuristic plans for the 83-year-old building. “We love our traders,” said Christian Domin, managing director […]

GM to invest $1.3 billion in US manufacturing

December 16, 2013

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(Credit: GM)

Dec. 16 (UPI) — General Motors announced Monday that it will invest $1.3 billion in U.S. manufacturing in five Midwestern plants. This comes after the U.S. government last week announced it has completely pulled out of ownership of GM stakes. This is expected to maintain or create close to 1,000 jobs in Michigan, Ohio and Indiana. The largest sum, $600 […]

Qualcomm promotes operating chief to CEO, despite Microsoft transfer rumors

December 13, 2013

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Paul Jacobs

Dec. 13 (UPI) — Qualcomm promoted its chief operating officer, Steve Mollenkopf, to CEO amid rumors that he was a contender for the chief executive spot at Microsoft. He succeeds long-time head of Qualcomm, Paul Jacobs. Mollenkopf was considered as a potential successor to Steve Ballmer to head Microsoft. Current CEO of Ford, Alan Mulally, is another top contender for the Microsoft job. […]

Chance encounter: A run-in at reunion leads to a collaboration fighting hunger

December 13, 2013

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CHICAGO (Kellogg) — “There’s a certain amount of serendipity to all of this,” Clinical Professor of Management & Strategy Harry Kraemer said on connecting to the One Acre Fund. The Kenya-based nonprofit works with getting small-scale farmers resources to pull themselves out of poverty. Andrew Youn ’06 founded One Acre in 2006 while at Kellogg. Youn never had Kraemer […]

Facebook joins the S&P 500 next week

December 12, 2013

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Dec. 12 (UPI) — Facebook’s status was updated to join the S&P 500 index, effective after market close Dec. 20, and investors are liking the change, as Facebook shares spike more than 5 percent Thursday. The company went public in 2012 and will replace much older tech company, Teradyne, in the S&P 500. Teradyne develops testing products for […]