This Week in Germany: The top 10 headlines


Rumor of the week: SoundCloud is looking for a buyer

Rumors have it, that SoundCloud wants to sell for $1 billion. According to sources familiar with the case, the owners have trouble to sell for that price. As always, nobody who’s mentioned to be involved felt like commenting on the story.
[Bloomberg] fires 100 people

The Munich-based shopping for all kinds of baby items platform‘s shares felt from €18 in May 2015 to below €4 in July 2016. Reason for that is also the Chinese business that didn’t take off as hoped. To reduce costs the company now cuts 100 jobs, which means 22 per cent of the company leave the team.
[Gründerszene] (German)

Fun idea

Berlin-based GetYourGuide offers a platform for tour guides and those who look for one. Besides historical tours or street art tours, you can now also find a Pokémon Go tour.
[press release]

Rocket Internet goes FinTech

Rocket Internet and FinTech Group AG join forces in order to create digital banking services in Europe. While Rocket Internet is known for its expertise in online marketing, user experience, front-end design, internationalization and scaling businesses, FinTechGroup will develop a digital bank, using the banking license of its subsidiary Bank biw.

Codeship raises $7 million

Vienna-founded software startup Codeship raises $7 million from US-based Ascent Venture Partner, who led the round, in participation of existing investors Sigma Prime Partners, Boston Seed Capital and F-Prime Capital. The startup offers developers a cloud-based service to test and update apps. Back in 2014, the startup decided to move its headquarters to Boston.
[Gründerszene] (German)

Deutsche Post delivers package into your Smart

German delivery company Deutsche Post will start delivering orders into cars. Those who participate in the beta testing with Smart cars, can use the service, starting in fall this year. The car has to be parked near the owner’s home. Details about extra fees have not been communicated.
[Günderszene] (German)

MyTaxi acquires 60% of Hailo

Hamburg-based and Daimler owned taxi app MyTaxi acquired 60% of British competitor Hailo. Through this merge, it will be one of Europe’s biggest taxi-odering apps. Hailo will rebrand its operations under MyTaxi. Andrew Pinnington, the current CEO of Hailo, will from now on be the CEO of MyTaxi, while Niclaus Mewes, co-founder of MyTaxi parent Intelligent Apps, will become an MD at Daimler and will oversee the carmaker’s wider efforts in the transportation industry.

N26 launches investment product

Just a few days ago, Number26 received a banking licence and renamed itself to N26. Today, it announces a partnership with German fintech startup vaamo to let users manage different portfolios of risky and not-so-risky assets.

StudiVZ to pay €3 million to Holzbrinck

Facebook’s German copy cat StudiVZ (SchülerVZ and MeinVZ) was acquired by Holtzbrinck, apparently for about €100 million. Five years later, after losing users and relevance Holtzbrinck sold it – this time to US-based Vert Capital. Though this is now four years ago, it seems there are still bills outstanding.
[Gründerszene] (German)

Versus got acquired by MenschDanke Group

Berlin-based comparison website was acquired by MenschDanke Group, who also owns (a voucher and coupon business); (an online discount shopping destination); and (an online travel shop). will continue as a stand-alone business. More details stay undisclosed.
[press release] 

Image: Some rights reserved by Georgie Pauwels