Draft Kings, Fan Duel in talks about merger
The Story
Daily fantasy sports sites DraftKings and FanDuel are in talks about combining forces in the face of ongoing legal battles.
Is this a big deal?
Yes. Bloomberg reported that talks of a merger have been going on for awhile, but a deal could still fall apart. DraftKings and FanDuel have faced opposition in several states, with regulators saying that their products involve illegal gambling. In March, the companies agreed to ban New Yorkers from participating in their online games. This deal could be big in that the two companies are also competitors. [Bloomberg]
Brainly acquires OpenStudy
The Story
This week, Brainly, the social learning network, merged with OpenStudy to offer students more advanced learning tools both in and out of the classroom.
A little background
OpenStudy is an Atlanta-based peer-to-peer study platform, and will help Brainly develop resources to make learning more digital. Both brands will continue to operate as separate entities with their own respective websites and apps. [New York Business Journal]
FullStack launches first investment fund
The Story
Fullstack Academy announced the launch of Fullstack Fund, an investment fund for startups created by the program’s graduates.
Changing up the coding bootcamp model
Fullstack Academy wants to become an all-encompassing resource for non-technical founders to learn how to write code, build their product while in school and get seed funding upon graduation. The program will include $20,000 in seed money, a co-working space in its New York City campus and mentorship for Fullstack Academy alumni. [Built In NYC]
x.ai expands to Microsoft Outlook
The Story
Today, x.ai is finally coming to Microsoft calendars, with support for Office 365 and Outlook.com, as the company moves closer to the release of its paid business edition later this year.
Some background
For the past two years, the the company’s AI-powered virtual personal assistant has been helping Google Calendar users manage their meetings. The company waited to launch the technology beyond Google Calendar, as it takes a lot of time and effort to train the technology to automatically make meetings. [Business Insider]
Fundings of the week
, $16 million
Investors: 8VC, Circle Ventures (the technology arm of the Milstein Family), LeFrak, Solon Mack Capital, Inevitable Ventures and Wolfswood Partners.
Common, the Brooklyn-based coliving startup, announced it raised a $16 million Series B round this week. The company plans on using the funding to build its community and operating teams in San Francisco and Washington D.C., as well as invest in technology that makes the member experience stronger and more community-driven. [Built In NYC]
