If you’re feeling bad about any big purchases you’ve made recently, this should cheer you up: A slew of companies went on a major shopping spree of their own. What’s in their shopping cart? Four NYC startups with technology that’s bound to help elevate their product or service and make them more competitive in their respective markets. Check out the latest in NYC tech acquisitions.
In 2015, the engineers behind Spotify’s music-matching technology helped launch a similar algorithm for images. So began Thread Genius, which uses AI to identify images and recommend similar objects to users. Sotheby’s auction house acquired the company on Jan. 26 and plans to use the technology to help users easily find artwork and artifacts that match their preferences. Terms of this deal were not disclosed, though it may not be the last. This is Sotheby’s second acquisition in two years — in 2016, it bought Mei Moses Art Indices, which uses predictive analytics to price items for auctioneers.
Companies often have a mix of full-time, part-time and freelance employees at any moment. WorkMarket’s software keeps the entire workforce on one platform so compensation and compliance are more easily managed. Enterprise HR software ADP acquired the company on Jan. 22, making this its 29th acquisition since it was founded in 1949. The company will use WorkMarket, which has raised a total of $66 million to date, to be more competitive in the enterprise market. Terms of the deal were not disclosed.
And Co is a platform that helps creative freelancers manage their projects from pitch to payment — the perfect match for Fiverr, which helps connect freelancers and clients. Fiverr acquired And Co on Jan. 24. While the And Co will work under Fiverr, the companies will continue to operate as individual brands.
Chew on this: Delivery-only restaurant Ando was scooped up just two years after launching. The company focuses on optimizing food and its packaging for delivery. San Francisco-based Uber Eats acquired the company on Jan. 22 as a way to add a food production component to its established transportation service. Sound similar? That’s because Amazon recently made a similar move when it bought Whole Foods. Terms of the Ando-Uber Eats deal were not disclosed.
