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New Delhi, Media firm Dailyhunt is in the advanced stages of talks to acquire homegrown microblogging platform <keyword id="20639239" type="General" weightage="20" keywordseo="koo" source="keywords">Koo</keyword>, a media report said on Wednesday. According to <keyword id="19895623" type="General" weightage="20" keywordseo="techcrunch" source="keywords">TechCrunch</keyword>, citing sources, the deal is expected to be finalised "within weeks" and involves a share-swap agreement. Founded in 2020, Koo is owned by Bengaluru-based <keyword id="20760807" type="General" weightage="20" keywordseo="bombinate-technologies" source="keywords">Bombinate Technologies</keyword>. The company was founded by <keyword id="20760806" type="General" weightage="20" keywordseo="aprameya-radhakrishna" source="keywords">Aprameya Radhakrishna</keyword> and Mayank Bidawatka and is often considered to be India's version of Elon Musk's X. In a statement to IANS, Dailyhunt parent <keyword id="20757904" type="General" weightage="20" keywordseo="verse-innovation" source="keywords">VerSe Innovation</keyword>'s spokesperson said that they have no comment on recent speculations. "Our focus remains on our core objectives," the spokesperson added. In September last year, Bidawatka said that the company is looking to "partner with someone who has the distribution strength to give Koo a massive user impetus and help it grow." In a LinkedIn post, he mentioned that the next phase for Koo is to "build scale and that will happen with either funding or through a strategic partnership with someone who already has scale" in the "current reality of a slow investor market." In April last year, Koo said that it had let go of 30 per cent of its workforce over the course of the year amid the current global meltdown. The company had told IANS that it is important for businesses of all sizes to adopt efficient and conservative approaches to see this period through.

Dailyhunt in talks to acquire microblogging platform Koo says media report

<ul><li>Bengaluru-based startup <keyword id="467634" type="General" weightage="20" keywordseo="verse" source="Orion">Verse</keyword> Innovation has decided to lay off 5% of its workforce or 150 employees to cut costs and streamline operations. </li><li>It also announced pay cuts for 11% of its employees, who are earning ₹10 lakh per annum or more. </li><li>This has happened months after the startup raised $800 million as fresh funding in April this year.</li></ul>VerSe Innovation, the parent company of short video platform Josh and news aggregator Dailyhunt, has become the latest unicorn that has resorted to retrenchments this year, after Byju’s, Udaan and Zomato. The co-founders of the Bengaluru-based startup, Virendra Gupta and Umang Bedi, announced in a town hall meeting that it has decided to lay off 150 employees or 5% of its workforce, <a href="https://techcrunch.com/2022/11/28/verse-innovation-layoff-salary-cut/?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAAKe8ojKWqU0ImCcT4s4MwaVYq5ygyPzZhY3aM6nNl-DwFl9s2r0Wagyd6fNEoNL6uXnBiWRFKTSceuX2G_AUKLr7Ny6r8JprFJX9lg5l5mjMGX4l1bWEmEF2pOC0-ZtsbTCCFGWMds38OjymS1_XaoY2qGgAhJ73igSRtCLaYA4B">according to Techcrunch</a>. They also announced an 11% pay cut for the remaining employees who are earning ₹10 lakh per annum or more. “Given the current economic climate, like other businesses, we’ve evaluated our strategic priorities. Considering the long-term viability of the business and our people, we have taken steps to implement our regular bi-annual performance management cycle and made performance and business considerations to streamline our costs and our teams, <a href="https://techcrunch.com/2022/11/28/verse-innovation-layoff-salary-cut/">said</a> Umang Bedi, co-founder of VerSe Innovation, in a prepared statement. This move comes months after the startup raised $800 million as fresh funding in April this year, led by CPP Investments. Ontario Teachers’ Pension Plan Board, Sumeru Ventures and Luxor Capital, Sofina Group and Baillie Gifford also participated in the funding round. Bedi further said that the next year will be tough and the measures taken will help the company to sustain in the market. “We have exercised fiscal and employee prudence, and implemented an 11% salary cut for individuals with annual salaries of ₹10 lakh or more,” Bedi added. According to media <a href="https://www.moneycontrol.com/news/business/startup/dailyhunt-and-josh-parent-verse-lays-off-150-staff-announces-company-wide-pay-cuts-9615571.html">reports</a>, the startup’s losses widened to ₹2,563 crore in FY22, even as its operating revenue grew by 46% to ₹965 crore. Backed by <keyword id="6355629" type="General" weightage="20" keywordseo="google" source="Orion">Google</keyword> and <keyword id="10387" type="General" weightage="20" keywordseo="microsoft" source="Orion">Microsoft</keyword>, the company became a unicorn after it raised $227 million from Microsoft, Sequoia, Matrix Partners India, Qatar Investment Authority and others in November 2020. Tech majors like Amazon, Meta, Twitter and Salesforce have been cutting jobs leaving thousands of techies jobless, globally. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/icici-bank-launches-digital-lending-solution-ilens-powered-by-tcs/articleshow/95849140.cms" style="">ICICI Bank launches digital lending solution iLens, powered by TCS</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/reliance-jio-users-are-reportedly-unable-to-call-and-send-messages/articleshow/95846445.cms" style="">Reliance Jio users tweet about network issues, unable to call and send messages</a>

Google, Microsoft backed VerSe Innovation sacks 150 employees, cuts pay for employees earning ₹10 lakh or more

<ul class="summary-list"><li>Savannah and Casey are best friends who moved off-grid together.</li><li>They didn't want to put their life on hold waiting for a romantic partner to buy land and a home.</li></ul>Savannah and Casey felt ready to make their dream of living off-grid a reality in 2020.The two friends, who met working at a restaurant, had already roomed together for nearly a decade in a major city in the Southeast. They <a target="_blank" href="https://www.heywandererblog.com/">started a blog about their shared</a> interests in DIY projects and at one point raised chickens and tended to a garden with their neighbors. They go by first names only online to preserve some privacy, so Business Insider agreed to keep their last names and exact location confidential.The idea to buy land and build a home from scratch was cemented during a monthlong camping trip in California, as they reconnected to nature, lived with fewer amenities, and felt a greater sense of freedom.By the end of 2020, they also had an influx of cash <a target="_blank" href="https://www.stocktankpoolauthority.com/">thanks to a successful side hustle</a> turned full-time job installing stock tank pools. Demand <a target="_blank" href="https://www.nytimes.com/2020/12/12/style/hot-tub-stock-tank-pools.html">skyrocketed during the pandemic</a> while people stuck at home searched for affordable alternatives to a hot tub.Savannah and Casey, 35 and 43, respectively, sold nearly everything they owned and took out a small personal loan. Altogether, they had enough money — less than $50,000 — to buy land in a remote area about two hours from a major city, hire a company to install a driveway and buy the shell of a building that they would convert into a home over time. "Most of my life, I thought that by 43 I would be married," Casey told Business Insider. "But early on in our friendship, we were both like, 'Well we're not waiting for any of that to happen.'""While we don't share that kind of physical intimacy of married people, it's still a commitment to another person," she added. "It's fun. I think more people should buy land with their friends."Casey and Savannah are bucking the traditional path — both by moving off-grid and by making friendship the center of their lives. Their decision comes at a time when Americans <a target="_blank" href="https://www.businessinsider.com/modern-loneliness">are lonelier than ever</a> as <a target="_blank" href="https://www.businessinsider.com/study-us-cities-uptick-number-of-people-living-alone-2023-9">more people live solo, marriage rates decline</a>, and social media replaces many in-person interactions. The Covid pandemic exacerbated the isolation but also fueled a modern-day homesteading movement for those wanting to be more self-sufficient and share resources."The whole idea is to take control of our lives more," Savannah said. "During our camping trip, we realized we needed to consume a lot less than we do."Savannah added that moving off-grid has been challenging, especially because they are doing nearly all the work themselves. Casey said some days she misses ordering Uber Eats or living within a few minutes of a Target. Still, they prefer the slower pace."Every time we come back to the land, even from just the small town nearby, there's just this relief," Savannah said.<h2>How the 2 friends fund their off-grid life</h2>Casey and Savannah did a lot of research before taking the leap into off-grid life.They said being well-versed in state and local building codes is key because every location has different rules about what kind of structures are allowed."When we were buying land, I had a spreadsheet of what was legal and where," Casey said. "Also, if you want to Airbnb, it's not allowed in some places."They found affordable land in 2021 and then sold almost everything they owned. They couldn't afford to rent a home while working on the new property, so in October, they moved there in a camper.They hired a company to put a driveway in, and by December, the shell of a 12-by-32-foot building was delivered."We started working on it to make it more livable and fully moved in in March," Casey said. "But it was not done. There was no insulation. It was a cold winter."They don't recommend living in the middle of a construction zone but acknowledge that many people — like themselves — don't have enough money to own two properties and finish a new home before moving in.Two years later, Casey and Savannah's projects are always ongoing. Casey, a Type 1 diabetic, returned to work late last year as a nurse for extra income to fund renovations and to have health insurance. Savannah works full time on their home and businesses.The goal is for their blog and social media accounts to generate enough income for their lifestyle. They don't have a mortgage or utility bills, but they do pay for internet access.They share a bedroom and have a wood stove for heat. For electricity, they recently completed a two-year project of installing solar panels on the roof, connecting them to a battery bank, and wiring the home. The company Battle Born gave them the $27,000 battery bank in exchange for social media content. Previously, electricity came from a portable solar generator and a camper battery."Eventually we will trench our entire property so that there's electricity going to every building, and the same for water," Savannah said.Their bathroom is in a separate building they constructed, but it isn't completely sealed off from the elements. It has a compostable toilet and a shower with hot water from a propane heater. They also collect rainwater to fill up water tanks that they use in the kitchen, and a neighbor lets them use his extra water. "You have to have a lot of perseverance," Casey said. "And people can't be afraid to try and learn new things. Everybody wants to know how we learned to do all this stuff. YouTube university. Savannah is a graduate and an ongoing student."Accepting that there will always be another project also helps, Savannah said."There are parts of our life that are so beautiful, even though I'm staring at drywall right now," she said.<h2>A nontraditional path</h2>Savannah said they both knew they'd really be "sealing the deal" on a life together by moving off-grid.There isn't much of a singles scene in their area and neither are interested in dating apps. But that didn't factor much into their decision. A lot of people ask what would happen if either got married. They said they're confident they'll figure it out should that happen."I want single people to feel like you don't have to wait to do anything until you find your romantic partner," Casey said. "You don't have to fit into that traditional mold. You can still buy a house.""And you can still want that, but not put your life on hold," Savannah jumped in. "Life is fun at any stage."

2 friends spent less than $50,000 to start up an off-grid tiny home. Here's how they're funding the lifestyle.

<ul><li>International mutual funds in the industry include equity funds that primarily invest in stocks of companies listed outside India.</li><li>Such funds help an investor diversify its investment portfolio and offer opportunities to invest in foreign markets.</li><li>Here is everything you need to know before having an exposure to international funds.</li></ul>As fancy as investment in global giants like Apple, Tesla, Facebook may sound, it is easy to invest in such stocks from India in a secured way. Moreover, you don’t have to buy stocks yourself, investment companies like mutual funds will do the work for you. Mutual funds offer international funds/overseas/foreign mutual funds that invest in companies listed on foreign stock exchanges. This makes it convenient for people who are not well versed with lengthy investment processes in foreign land. One can make one-time or regular investments in a particular mutual fund that invests in such stocks. The fund manager of the mutual funds takes care of how much exposure in which stock. Such types of international funds have a pre-designed portfolio consisting of a particular number of stocks of foreign companies. And like any other mutual funds, they are regulated by the Securities Exchange Board of India (SEBI). Now there are a host of thematic international funds available in the industry like thematic funds based on a specific sector eg: technology, region wise fund eg: China stocks etc., and each of these funds takes a different approach to global investing. It’s up to you which fund to consider that suits that investment and risk profile. One can consult a financial advisor as well to help understand the difference. Merits of investing in international funds <ul><li>Helps diversify investment</li><li>Easy access to foreign company shares</li><li>Ownership of shareholding in large firms like Apple, Microsoft, Tesla </li></ul>Most of the international mutual funds in India invest directly in an already established foreign mutual fund. Simply put, most international mutual funds in India invest in other mutual funds in any foriegn country instead of directly investing in stocks there. This is called funds of funds (FoFs). Here are the top five international mutual funds as per highest returns in the last three years. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fund name </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Returns in last 3 years </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DSP World Mining </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">28.46% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal NASDAQ 100 ETF </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">26.64% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal NASDAQ 100 FoF </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25.75% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aditya Birla Commodity Equities Fund - Global Agri Plan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22.17% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DSP World Gold </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20.32% </td></tr></tbody></table>(Source: Value Research) <a href="https://www.businessinsider.in/personal-finance/news/looking-to-invest-in-facebook-amazon-and-apple-shares-from-india-these-are-the-taxes-you-may-have-to-pay/articleshow/85253598.cms">Click here </a>to understand the tax structure of investing in foriegn company stocks. Also, note that currently several international funds are not accepting fresh investor inflows due to overseas investing limits. The regulator has specified an overall industry level limit of $7 billion for mutual funds to invest in overseas securities and funds, which has already been breaches. Hence several funds are not allowing new investment. Disclaimer: The article is just for informational purposes and it should not be taken as investment advice. Do your own research before investing. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/whatsapp-is-finally-allowed-to-have-100-million-users-for-its-payments-service/articleshow/90835669.cms">WhatsApp is finally allowed to have 100 million users for its payments service</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/indias-second-largest-government-owned-hydrocarbon-producer-hit-by-a-major-cyberattack-hackers-demand-196-bitcoins-in-ransom/articleshow/90840425.cms">India’s second largest government-owned hydrocarbon producer hit by a major cyberattack, hackers demand 196 bitcoins in ransom</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/air-india-says-alliance-air-is-no-longer-its-subsidiary-heres-what-it-means-for-flyers/articleshow/90841432.cms">Air India says Alliance Air is no longer its subsidiary – here’s what it means for flyers</a>

Make regular investment in Apple, Tesla, Amazon and other global stocks easily via mutual funds

<ul class="summary-list"><li>Taylor Swift showed her financial savvy by escaping a deal with FTX, the bankrupt crypto exchange.</li><li>The pop superstar invests in a specific type of mutual fund, Boaz Weinstein revealed.</li></ul>Taylor Swift showcased her financial acumen when she avoided a $100 million sponsorship deal with FTX, the now-bankrupt crypto exchange. The pop superstar puts her money in a niche type of mutual fund, an elite investor has revealed.Hedge fund manager Boaz Weinstein attended a Swift concert with his daughters in Philadelphia last weekend, and joked the singer's investment smarts are one reason for her immense appeal."Having a blast watching our daughters sing every lyric tonight in Philly," he <a href="https://twitter.com/boazweinstein/status/1657567958506323968" target="_blank" rel="noopener">tweeted</a> on Saturday. "Did you know that <a href="https://twitter.com/taylorswift13" target="_blank" rel="noopener">@taylorswift13</a> invests in discounted closed end funds? You think I'm kidding, but her father Scott told me so!""For many reasons, it's hard not to be a Swifty," the founder of Saba Capital Management added.Weinstein's firm <a href="https://www.businessinsider.in/finance/news/saba-capital-is-targeting-a-unit-of-legg-mason-in-an-activist-campaign-another-legg-mason-business-stands-to-profit-if-its-successful-/articleshow/71410823.cms" target="_blank" rel="noopener">has taken activist positions</a> in closed-end funds run by BlackRock and other large asset managers in the past. These funds raise money to invest by issuing shares, so there's a cap on how many people can invest in them as there are only a limited number of shares available. The fund is considered "discounted" if its shares are trading at a discount to the net value of its assets (NAV). Swift – whose <a href="https://www.businessinsider.com/taylor-swifts-dad-works-at-merrill-lynch-2012-10">father, Scott Swift, used to work for Merrill Lynch</a> – has shown over the years that she's well-versed in finance.<a href="https://www.businessinsider.com/taylor-swift-avoided-100-million-ftx-deal-with-securities-question-2023-4">Most recently, she didn't sign a $100 million sponsorship deal with FTX</a> after asking the company whether it was selling unregistered securities. That's according to Adam Moskowitz, the lawyer handling a class-action lawsuit against several FTX promoters including Shaquille O'Neal, Tom Brady, and Larry David.In a podcast last month, Moskowitz said that unlike other celebrities who didn't do their due diligence, Swift pulled out of the agreement and never promoted the now-bankrupt exchange. "The one person I found that did that was Taylor Swift," Moskowitz told "<a href="https://www.theblock.co/post/226981/taylor-swift-ftx-shaquille-oneal-lawsuit" target="_blank" rel="noopener">The Scoop</a>" podcast's Frank Chaparro at the time.

Taylor Swift showed her financial savvy when she avoided a FTX deal. She puts her money in a niche type of fund, an elite investor says.

<ul class="summary-list"><li><keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword>'s deputy foreign minister said the plan by Western countries to cap its <keyword id="11894590" type="UNKNOWN" weightage="60" keywordseo="oil-prices" source="Orion">oil prices</keyword> will "collapse."</li><li>The US and its allies discussed a cap on Russian oil prices at the G-7 summit last week, with a potential range of $40-$60 a barrel.</li></ul>Russia suggested Thursday that plans by Western nations to cap its oil prices and limit its ability to wage war against <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword> will fail.Sergei Ryabov, Russia's deputy foreign minister, told the Interfax news agency that a <a href="https://www.reuters.com/business/energy/russia-says-planned-price-caps-its-oil-will-fail-ifx-2022-07-07/">price cap on Russian oil products will "collapse</a>" and the country would continue to raise revenue for its budget, Reuters reported.The US and its allies began discussing a cap on Russian oil prices at the G-7 summit last week, with a <a href="https://markets.businessinsider.com/news/commodities/russian-oil-price-cap-40-dollars-western-sanctions-g7-summit-2022-7">potential range of $40-$60 a barrel</a>. The intent is to limit Russia's revenue while still making oil accessible to sanctioning countries.But industry analysts have doubted the plausibility of a <keyword id="14333877" type="UNKNOWN" weightage="60" keywordseo="price-cap" source="Orion">price cap</keyword>, noting that it would require cooperation from some of Russia's largest oil customers, such as China and India. And last week, RBC commodities strategist Helima Croft also said <a href="https://markets.businessinsider.com/news/commodities/oil-prices-opec-supply-china-economy-reopening-russia-price-cap-2022-6?utm_medium=ingest&amp;utm_source=markets">Russia could retaliate</a> by taking more barrels off the market abruptly to drive prices higher. In that situation, oil could skyrocket to as high $380 a barrel, according to analysts by JPMorgan. Meanwhile, former Russian President Dmitry Medvedev, who is now the deputy secretary of Russia's Security Council, quoted a Bible verse as he suggested the US would face the wrath of God for punishing Russia for its war on Ukraine.

Russia says the plan to cap oil prices will 'collapse' as West scrambles to cut off funding for Kremlin's war in Ukraine

<ul class="summary-list"><li><keyword id="10044203" type="COMPANY" weightage="60" keywordseo="coinshares">CoinShares</keyword> launched an exchange-traded <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">bitcoin</keyword> product on January 19 to be listed in Switzerland.</li><li>Each unit of the product will be physically backed by 0.001 Bitcoin.</li><li><a href="https://markets.businessinsider.com/currencies/btc-usd?utm_source=markets&amp;utm_medium=ingestgest">Bitcoin</a> seems to have entered some form of consolidation following a period of high volatility.</li></ul>CoinShares, one of the earliest digital asset investing firms, said on Tuesday it had launched an <a href="https://coinshares.com/news/coinshares-launches-new-physically-backed-bitcoin-exchange-traded-product-etp">exchange-traded Bitcoin product</a>. The CoinShares Physical Bitcoin Product is set to be listed on Switzerland's main stock exchange under the ticker symbol BITC. The dollar serves as its base currency.Each unit will be physically backed with 0.001 bitcoin, offering investors exposure to the <keyword id="6357017" type="DEFINITION" weightage="60" keywordseo="cryptocurrency">cryptocurrency</keyword> and the benefits of exchange-traded products.The issuer is Europe's largest digital asset manager with more than $2.9 billion assets under management. It was among the first to kickstart investments in crypto products. US-based rival Grayscale Investments manages more than <a href="https://grayscale.co/insights/grayscale-q4-2020-digital-asset-investment-report/">$20 billion in digital assets</a>. "Over the last 12 months, we have seen a steady increase in interest and demand for digital assets from our institutional clients, and this platform has been built with their feedback in mind," Frank Spiteri, chief revenue officer at CoinShares, said in a statement. Read More: <a href="https://www.businessinsider.com/market-crash-bubble-bursts-social-unrest-albert-edwards-societe-generale-2021-1">Billionaire investor Ray Dalio warned the US could be on the verge of civil war - Now a prominent market bear is saying investors should monitor this under-the-radar bubble, which could trigger unrest</a>"The physically backed structure is familiar to institutions who have extensive experience in trading similar commodity-based investment vehicles," he said.Last week, Germany-based <a href="https://www.six-group.com/en/newsroom/media-releases/2021/20210113-six-welcomes-btc-etc-tm.html">ETC Group listed a similar physically-backed bitcoin exchange-traded product</a> on Switzerland's SIX stock exchange last week. The exchange now holds 35 such crypto products. Bitcoin rose 1.3% to $37,095 on Tuesday, although it was trading upwards of $40,000 only last week. Meanwhile, <a href="https://markets.businessinsider.com/currencies/eth-usd">Ethereum</a> topped its previous all-time high to reach $1,439. The crypto-verse is surging again, but analysts say many cryptocurrency traders are now diversifying into other coins for fear that bitcoin could see another collapse if $41,500 is not reached soon. Read More: <a href="https://www.businessinsider.com/stock-picks-to-buy-best-profit-growth-reopening-goldman-sachs-2021-1">GOLDMAN SACHS: Buy these 25 stocks best-positioned to juice profits in 2021 as stimulus and vaccine progress spur economic growth</a>

A $3 billion digital-asset investing trailblazer just launched an exchange-traded bitcoin product in the midst of the cryptocurrency's wild rally

<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.flickr.com/photos/jrproductions2012/8271988134/in/photolist-6yyrwG-9iw5wF-fe7iZ6-7VkmTS-dAY6T5-4wuANX-8XguaX-8AQsJW-tuq4N-2S6JC-5VkGst-eavAd-4PBHNM-48p3kS-4X3nSg-hGrtL-a7dnk-skEFc-99HCMx-hnsm1a-4P34QQ-9r9FZU-bRYgJP-cjeo7h-4qta9T-4qsTaa-4qt9BV-4v5Wi-9GHqGj-dB6Bv1-4WvrTu-5nUmsr-6T6rZV-BVJvd-7oLth4-BVJcq-BVJ3r-BVHXy-BVJm3-9XNT3F-zquWC-8NJFFH-77Mziy-A5dHt-6s9Ah8-dNnsob-femA4E-qeCFr-A5dyA-b1SCxH">Flickr</a>LEX is looking to securitize the equity in buildings into partnership interests priced at $100 each that can be traded on its market.</div></div></div><ul class="summary-list"><li>LEX, a startup building a securities marketplace for commercial real estate, just nabbed $4 million in seed funding co-led by Greycroft and Thor Equities. </li><li>The marketplace will connect landlords looking to recapitalize commercial properties with a mix of accredited and non-accredited investors. </li><li>Greycroft, the venture firm that has invested in micro-investing app <a href="https://www.businessinsider.com/how-to-use-acorns-investing-app-2016-3">Acorns</a> and alternative investment company <a href="https://www.businessinsider.com/yieldstreet-raises-62-million">YieldStreet</a>, has already invested in commercial real estate investing platform<a href="https://www.businessinsider.com/startup-office-realestate-marketplace-zillow-for-office-space-2019-9"> Biproxi</a>. </li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary">Click here for more BI Prime stories.</a></li></ul>LEX, a securities marketplace for commercial real estate, just announced $4 million in seed funding co-led by Greycroft and real estate owner and developer Thor Equities. The startup is building an SEC-regulated alternative trading system for real estate that gives a way for both accredited and non-accredited investors to invest in the equity of a building. Greycroft, the venture firm that has invested in micro-investing app <a href="https://www.businessinsider.com/how-to-use-acorns-investing-app-2016-3">Acorns</a> and alternative investment company <a href="https://www.businessinsider.com/yieldstreet-raises-62-million">YieldStreet</a>, has recently also invested in commercial real estate investing marketplace <a href="https://www.businessinsider.com/startup-office-realestate-marketplace-zillow-for-office-space-2019-9">Biproxi</a>.<ul class="read-more-links"><li>Read more: <a href="https://www.businessinsider.com/proptech-vc-metaprop-unveils-their-newest-accelerator-cohort-2019-9" data-read-more-link="" data-e2e-name="read-more-link">Meet the 7 early-stage startups blending tech and real estate that just got accepted to a high-profile accelerator. One is a TaskRabbit-like app for construction workers.</a></li></ul>The marketplace will connect landlords looking to recapitalize commercial properties with a mix of bigger investors and non-accredited retail investors who don't have the minimum assets to typically invest in commercial property. The idea came from cofounder and CEO Drew Sterrett's experience in private equity. "How do you have the largest asset in the world and there is no liquid and transparent market behind it?" Sterrett said. Commercial real estate is seen as a relatively illiquid investment, as properties usually have to be sold in full for the owner to recoup any cash. LEX instead is looking to securitize the equity in the building into partnership interests priced at $100 each that can be traded on its market. The marketplace, by bringing real estate investment to non-accredited investors, drastically increases the reporting and regulatory load that LEX has to burden before opening it up. Sterrett said that it has looked to avoid startup tech's famous "move fast and break things" motto. "We don't believe in fixing it later," Sterrett said.See also: <a href="https://www.businessinsider.com/divvy-a-rent-to-own-startup-raised-43-million-from-lennar-gic-2019-9" data-read-more-link="" data-e2e-name="read-more-link">Divvy, a rent-to-own startup for homeowners, grabs $43 million in fresh funding - including from home-building giant Lennar</a>Sterrett said that the decision to open up LEX to non-accredited investors is intended to increase the liquidity of the equity in a building.He used the example of a traditional partnership with five partners. If one were to leave, they'd need to find another partner or outside investors to buy their share. If there are hundreds of partners with different-sized stakes in the property, it becomes easier to unload those shares to a larger field of potential investors, which Sterrett hopes includes traditional institutional and high-net worth investors as well as non-accredited investors. Smaller investors are often not as well-versed in real estate investing, but Sterrett says that LEX has "tried to diminish as much risk as possible." LEX says it will only recapitalize "stabilized commercial real estate" and has no plans at this time to delve into the riskier world of debt-financing acquisitions or new developments. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/jake-bernstein-panama-papers-offshore-banking-shell-companies-2018-2">How the super-wealthy hide billions using tax havens and shell companies</a></h3> <div> </div> </div>

LEX, a marketplace offering commercial real estate stakes for small investors, just raised seed funding from Greycroft and Thor Equities

IterableIterable cofounder and CEO Justin Zhu<ul class="summary-list"><li>A growing number of marketing tech companies are trying to help brands make sure the messages they send to customers are relevant.</li><li>Iterable is a 6-year-old, San Francisco-based firm that raised $60 million in series D funding led by Viking Global Investors, bringing its total funding to more than $140 million.</li><li>It wants to take on big marketing cloud companies like Salesforce, Oracle, and Adobe with its platform that lets marketers create, run, and tweak communications with customers through email, texts, and the like.</li><li>Iterable counts Priceline, Evernote, Zillow, and SeatGeek as customers. </li><li>It plans to use the new funding to grow its headcount to 400 from 300, build its AI and data-privacy capabilities, and get profitable.</li><li>But martech has become hotly competitive, and it'll be hard to win big clients that are tied up in years-long contracts with the big marketing clouds.</li><li><a href="https://www.businessinsider.com/prime">Click here for more BI Prime stories.</a></li></ul>The battle to manage marketers' customer relationships is heating up. Iterable, a 6-year-old San Francisco-based firm, is announcing today that it has raised $60 million in series D funding led by Viking Global Investors, along with Index Venture, CRV, Blue Cloud Ventures, Harmony Partners, and Stereo Capital, bringing its total funding to more than $140 million.Iterable has a platform that lets brands send messages to people by email, text, and in-app and on-site messaging. It sells software as a service (SaaS) to companies based on the number of contacts they have and volume of messages sent. Its typical enterprise contract starts at $200,000 and goes up to $1 million or so. Priceline, Evernote, Zillow, and SeatGeek are clients.Justin Zhu, cofounder and CEO of Iterable, said this funding round would be the company's last as it focuses on getting profitable. He said the company would use the funding to bolster its platform and build its list of marketing tech partners. He said he expected headcount to grow to 400 by the end of 2020, from 300 now."Our focus is to bring Iterable's CRM to the mainstream, to be a fourth option outside Oracle, Salesforce, Adobe," he said. People are being bombarded with more marketing messages than ever, and there are all kinds of companies helping marketers make sure they don't get ignored. A November Forrester report titled "The Forrester Wave: Cross-Channel Campaign Management (Independent Platforms)" listed Iterable as one of nine independent vendors including Sailthru and Cheetah Digital that are trying to win marketers' business in this area.But Zhu is also going up against the big marketing cloud companies like Salesforce, Oracle, and Adobe, which are also building up their CRM businesses. Salesforce took a big step in that direction when it <a href="https://techcrunch.com/2019/08/01/salesforce-closes-15-7b-tableau-deal/">acquired Tableau for $15.7 billion</a> earlier this year.The Forrester report characterized Iterable as a "strong performer" among independent vendors, with strength in areas like strategy and market presence. Customers said Iterable had a "super fast email solution with an intuitive interface," Forrester wrote in the report.But it also ranked Iterable low in areas like user experience, delivery model, and said Iterable lagged in the area of mobile engagement automation.Guy Horrocks, who founded Carnival Labs, a mobile marketing automation platform that was sold to Sailthru, is well versed in Iterable and its competitors. He said Iterable's advantages are that it works across channels, is easy to use, is winning some tech savvy customers that have scale, and has an opportunity to get a jump on personalization, which marketers are still new to. On the other hand, it'll be hard for Iterable to crack big legacy marketers because they're tied up in multi-year deals with big marketing cloud companies that have more features and are willing to keep prices low to keep them, he said. There has been tons of money flowing into marketing tech, and as a result, there are a lot of other competitors, some of which have better email products, in his view."It's an intensely competitive space," Horrocks said.<h2>Iterable says it plans to compete on personalization</h2>Zhu's argument is that Iterable has a leg up over companies like Salesforce that built their CRM platforms by buying other companies. Companies like Iterable also position themselves as giving marketers flexibility to use multiple vendors to manage and use the data they gather on customers versus the big marketing clouds with their one-stop-shop approach. In terms of Iterable's platform, he's pitching its ability to help companies comply with privacy laws and personalize their messages. Iterable assigns scores to consumers based on how engaged they are with the company, and suggests different messages depending on their engagement level."Consumers are sick of being targeted, so it'll be difficult to track people unless they explicitly opt in," he said. "And it's going to be an era of first-party data. We help customers use all the data they have permission to use." <h3>NOW WATCH: <a href="https://www.businessinsider.com/how-colossal-media-makes-150000-hyperrealistic-murals-in-nyc-2019-11">How $150,000 hyperrealistic murals come to life</a></h3>

Martech company Iterable just raised $60 million in what it calls its last funding round, and plans to use it to take on Salesforce and Oracle and get profitable

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