### Eric Schmidt's Strategic Investments in AI

**Eric Schmidt**, the former Google CEO, has recently made headlines with his family office's significant investment in **22 AI startups**. This bold move showcases his confidence in the future of artificial intelligence and its potential to reshape various industries.

Among the most notable startups that Schmidt has backed are **Anthropic**, known for its advanced AI research, **Holistic AI**, which focuses on ethical AI development, and **SandboxAQ**, specializing in quantum computing and AI integration. These investments highlight a trend towards supporting innovative companies that are at the forefront of AI technology.

As AI continues to evolve, investors like Schmidt are recognizing the importance of being part of this transformative wave. His strategic choices reflect a growing interest in **AI's potential** to address complex challenges and drive economic growth.

![AI Startups](https://example.com/image.jpg)  
*Image representing AI innovations*  

This investment spree not only underscores Schmidt's commitment to fostering innovation but also signals a robust future for the AI sector, attracting attention from investors and entrepreneurs alike.

Schmidt's bets are on some of the largest AI startups, including Anthropic, Holistic AI and SandboxAQ. 

Eric Schmidt's Family Office Makes Bold Moves: Investing in 22 AI Startups!

## StackBlitz Secures $700 Million Valuation

**StackBlitz Inc.**, the innovative creator behind the developer tool **Bolt.new**, is currently in discussions to secure funding from investors, targeting a **$700 million valuation**. This comes as part of the growing trend of **artificial intelligence** startups revolutionizing the coding landscape.

### Funding Details

The company is set to raise **$83.5 million** in a funding round led by **Emergence Capital** and **GV** (formerly Google Ventures). Other notable investors include **Madrona Venture Group**, **Conviction**, and **Mantis**. Previously, StackBlitz raised **$22 million** in a Series A round, which had not been widely reported.

### The Rise of Bolt.new

Founded in **2017**, StackBlitz initially struggled to carve out its niche in the competitive web development software market. However, the launch of **Bolt.new** in **October** marked a significant turning point. This AI-driven platform enables users to build websites using **verbal commands**, attracting nearly **1 million users** monthly and generating tens of millions in **annual recurring revenue**.

CEO **Eric Simons** noted, “Five months ago we were on the verge of spinning down the company.” He referred to the launch of Bolt.new as an “**overnight success** seven years in the making.” The tool's success lies in its accessibility, allowing even those with limited technical skills to create web applications.

### Competitive Landscape

Simons stated that Bolt.new competes with **Replit Inc.**, another developer technology business. **Joe Floyd**, general partner at Emergence Capital, expressed enthusiasm about the startup's rapid revenue growth, stating, “It’s growing faster than **Zoom**, **Salesforce**, or any of our prior investments.”

### Investor Insights

**GV's Erik Nordlander** highlighted that StackBlitz's software development approach makes app creation more accessible, noting, “There is no faster way to build an app than with their flagship product.”

Other investors in StackBlitz include **Flex Capital**, **Greylock Partners**, and **Tribe Capital**, as per **PitchBook** data.

(Bloomberg) -- StackBlitz Inc., the maker of developer tool Bolt.new, is finalizing talks to raise money from investors at a $700 million valuation, its chief executive officer said — the latest deal for an artificial intelligence startup promising to change computer programming and coding. Most Read from BloombergTexas HOA Charged With Discrimination for Banning Section 8 RentersHow Sanctuary Cities Are Preparing for Another Showdown With TrumpWhat LA’s Fires Mean for the City’s Housing Shortag

StackBlitz's Bold Leap: AI Tool Valued at $700 Million Amid Rapid Growth

### Overview  
In a surprising turn of events, **Bay Area's second-largest tech startup** recently announced the **layoff of 300 employees**. This decision has sent shockwaves through the tech community, raising concerns about the stability of the industry.  
  
### Details of the Layoff  
The startup, which has been a major player in the tech sector, cited **market conditions** and the need to streamline operations as primary reasons for this drastic measure. The layoffs are expected to affect various departments, and the company has stated that it will provide support to the affected employees.  
  
### Implications for the Tech Industry  
This move not only highlights the **challenges** faced by tech startups in the current economic climate but also raises questions about **job security** in the industry. As companies navigate these turbulent times, many are reassessing their workforce and operational strategies.  
  
### The Future  
As the situation unfolds, it will be crucial to monitor how this layoff impacts the company's future and the broader tech landscape. Industry experts suggest that while layoffs are unfortunate, they can sometimes lead to **restructuring and future growth** opportunities.  

### Conclusion  
The layoffs at this prominent startup serve as a reminder of the **volatile nature** of the tech industry and the importance of adaptability in overcoming challenges.

Major Layoffs Hit Bay Area's Second-Largest Tech Startup: What You Need to Know

### Highnote's Impressive Growth
**Highnote**, a **San Francisco-based payments startup**, has successfully **raised $90 million** in Series B funding, which has pushed its valuation to over **$750 million**. The funding round was led by **Adams Street Partners**, with contributions from **Oak HC/FT**, **Costanoa**, **Westcap**, and **Pinegrove Capital Partners**.

![Highnote Team](https://specials-images.forbesimg.com/imageserve/678fc69e545599e6879c6d7f/Unknown/0x0.jpg?cropX1=0&cropX2=640&cropY1=0&cropY2=359)
*John Macllwaine (CEO) and Kin Kee (co-founder and CTO) of Highnote. Provided by Highnote*

### Innovative Product Offerings
Founded in **2020**, Highnote’s initial product was **card-issuing software**, allowing businesses to quickly issue customizable **debit**, **credit**, **virtual**, **charge**, or **loyalty cards**. With the recent funding, Highnote aims to enhance its offerings, launching a new product that enables businesses to **accept online credit and debit payments** (known as acquiring). This move allows Highnote to manage both sides of card transactions, a strategy CEO **John MacIlwaine** envisioned from the start.

### Leadership with Experience
Before founding Highnote, MacIlwaine spent **25 years** in the financial services and fintech industry, including roles at **Visa** and **Braintree**. His experiences highlighted the need for a unified platform in payment processing, which Highnote aims to provide, unlike many competitors that focus on just one aspect of transactions.

### Financial Performance and Customer Base
By the end of last year, Highnote reported **$81 million** in annualized gross revenue, although it is not yet profitable. The startup has over **two dozen clients**, including **Netevia**, which utilizes Highnote for payment processing and acquiring services.

### Competitive Landscape
Highnote faces stiff competition from **Marqeta**, which has experienced fluctuations in market value, and **Lithic**. Regulatory scrutiny has also increased for banking-as-a-service companies, posing challenges to the entire industry. However, MacIlwaine remains confident in Highnote’s robust infrastructure and ability to navigate these regulatory waters.

### Conclusion
Highnote is strategically positioned to capitalize on its recent funding, expanding its product offerings while addressing the growing need for integrated payment solutions in a complex market landscape.

Highnote, a San Francisco-based payments startup, has raised $90 million in Series B funding that values it at more than $750 million, a source close to the transactio...

Highnote Secures $90 Million Funding, Surpassing $750 Million Valuation – What’s Next for This Fintech Giant?

### The Allegations Against EFishery

**EFishery Pte**, a leading **Indonesian agritech startup**, is under scrutiny for allegedly **inflating its revenue and profits** over several years. This investigation was prompted by a **whistleblower's claims** regarding the company's accounting practices.

### Investigation Findings

A preliminary report indicates that management may have inflated revenue figures by nearly **$600 million** during the nine months leading up to September 2024. This means **over 75%** of the reported revenue was potentially fabricated. The investigation was initiated after a whistleblower approached a board member, leading to a **formal probe** commissioned in December.

### Background of EFishery

EFishery, which specializes in providing **smart feeding devices** to fish and shrimp farmers, had gained a valuation of **$1.4 billion** after significant investments from notable backers like **SoftBank Group Corp.** and **Temasek Holdings Pte**. The company aimed to modernize Indonesia's fish industry and initially boasted a **$16 million profit** for the first nine months of 2024. However, the investigation suggests the startup actually faced a **$35.4 million loss** during that period.

### Discrepancies in Revenue Reporting

According to the draft report, EFishery's revenue was actually around **$157 million**, a stark contrast to the **$752 million** figure presented to investors. The investigation revealed that the discrepancies in revenue and profit reporting extended over several previous years.

### Management Changes

In light of these findings, EFishery's board has taken action by **dismissing co-founder and CEO Gibran Huzaifah**. The company has publicly acknowledged the seriousness of the situation, stating, "We are fully aware of the gravity of the market speculation and we take this matter with the utmost seriousness."

### Commitment to Governance

EFishery emphasizes its commitment to maintaining the **highest standards of corporate governance** and ethics throughout its operations, as it navigates this challenging period.

(Bloomberg) -- EFishery Pte, one of Indonesia’s most prominent startups, may have inflated its revenue and profit over several years, according to an internal investigation triggered by a whistleblower’s claim about the company’s accounting.Most Read from BloombergTexas HOA Charged With Discrimination for Banning Section 8 RentersHow Sanctuary Cities Are Preparing for Another Showdown With TrumpWhat LA’s Fires Mean for the City’s Housing ShortageDeadly Landslide of Garbage Displays Uganda's Miss

Shocking Revelations: How EFishery Faked $600 Million in Sales! 

## Streamlining Clinical Trials with Technology

**Advarra**, a leader in clinical research technology, has launched its **Study Collaboration solution** aimed at enhancing study startup processes. This innovative solution is designed to **automate workflows**, enhance **real-time visibility**, and encourage **collaboration** among research stakeholders.  

### Key Features of the Study Collaboration Solution

The solution integrates the **Longboat technology** acquired in 2020, which boasts over **225,000 users**. It combines Advarra’s **study startup delivery program** and a **single sign-on** feature that simplifies access for research sites. This collaboration facilitates efficient management of crucial processes such as:
- **Feasibility assessments**
- **Document exchange**
- **Site training**
- **Milestone tracking**
- **Enrollment planning**

These improvements aim to **reduce the time from site selection to recruitment**, thus accelerating trial timelines.  

### Addressing Challenges in Clinical Trials

According to **Ashley Davidson**, VP at Advarra, study startup is often the most challenging part of clinical trials. Issues such as **manual information exchange** and **disconnected systems** can lead to delays, with **80% of trials** failing to enroll patients on time. The new solution aims to tackle these inefficiencies to meet enrollment goals effectively.

### Enhancing Collaboration and Compliance

The **Study Collaboration solution** provides a centralized view of activation and enrollment progress, allowing both sites and sponsors to streamline their workflows. This integration is expected to improve compliance and strengthen collaboration among various stakeholders, ultimately helping in accelerating the delivery of new treatments to patients.

### Industry Endorsements

Industry leaders, such as **Deb Tatton** from Parexel and **Nancy Cleverley** from the Alliance for Multispecialty Research, have praised Advarra’s technology for its ability to simplify workflows and enhance training, leading to better engagement and efficiency at research sites.  

For more information, visit [Advarra's website](https://www.advarra.com).  

![Advarra](https://rt.prnewswire.com/rt.gif?NewsItemId=PH99400&Transmission_Id=202501210900PR_NEWS_USPR_____PH99400&DateId=20250121)

/PRNewswire/ -- Advarra, the market leader in regulatory review solutions and clinical research technology, today unveiled its Study Collaboration solution to...

Revolutionizing Clinical Trials: Advarra's New Solution for Faster Study Startups

STATEN ISLAND, N.Y. — **Frank Cina** may not walk in his grandfather’s shoes, but he is following in his footsteps.

Unlike Cina, who was born in Brooklyn, his grandfather, **Corrado “Joe” Manfredi**, was born in Mola di Bari, Italy, and immigrated to the U.S. in 1952 at age 14, moving to Brooklyn. By 1962, Manfredi bought out the Brooklyn dealership where he’d started working as an auto mechanic and eventually established one of Staten Island’s most recognizable businesses: the **Manfredi Auto Mall**.

Fast-forward to today, and the spirit of **entrepreneurship** has endured through the generations. Cina, who learned the importance of **customer service** from his grandfather, said he prioritizes getting to know customers at the restaurant he opened in November 2023 with his mother, Joann (Manfredi’s daughter) and father, Sebastian.

Their establishment, **Corrado’s Cucina**, is located at 831 Arthur Kill Road in Greenridge, near the same corner where **Al Deppe’s** restaurant used to be. Although Manfredi’s customers always knew him as Joe, his real name was Corrado. The restaurant was named in his honor.

Specializing in **Southern Italian cuisine**, Cina hired chef **Giovanni Amato**, who was born and raised in Palermo, Sicily. Some of Amato’s authentic dishes include **parmigiana di melanzane**, **arancine cacio e pepe**, **linguine vongole**, **rigatoni burrata**, **polpo**, and **rigatoni norma**. The brick oven turns out various traditional red and white pies, along with authentic **Sicilian pizzas**. Corrado’s seats more than 150 people, and can accommodate 90 guests in a separate event space.

Reda Mikhail from Great Kills bought cars from Manfredi and now eats at Corrado’s. He said, “When the restaurant first opened, the owner introduced himself, and that’s when I found out he was Manfredi’s grandson.”

Cina has revived family traditions, including a Christmas Eve gathering where fifty family members honored the family patriarch by dressing alike in colorful, matching pajamas. Manfredi’s influence extends beyond the family, with many diners sharing stories of his kindness and dedication to customer satisfaction.

Cina aims to expand Corrado’s in the same way his grandfather expanded his automotive dealerships. Frank Cina's journey in entrepreneurship began early, working in the family business and eventually branching out into various ventures, including automotive detailing and concert production.

**Cina’s ventures stem from admiration for his grandfather**, who was fiercely proud of his Italian roots and known for his generosity. The family legacy continues as they embrace new ventures while honoring the past.

Joe Manfredi's name is often on the lips of diners at the eatery established by his family.

From Auto Empire to Culinary Delight: The Manfredi Family's Next Chapter in Staten Island Entrepreneurship

As the **2025 M&A wave** begins, the fashion industry is witnessing significant shifts. Once-popular **legacy labels** are transitioning to new ownership, while **emerging start-ups** are strategically holding out for **higher valuations**. This article from **The Business of Fashion** delves into the anticipated acquisition targets and the potential stakes involved in these deals.

![Fashion M&A Trends](https://img.businessoffashion.com/resizer/v2/2FYMF4M3YFCZ7A6TYQ4ZJ3ZCFE.png?auth=a5c7c1e759ec41a8a56dc6df9e0314881d406a4f72ca86411768a173b26c9e7a&width=1440)
*As the year’s M&A wave starts with once-hot legacy labels finding new owners, buzzy start-ups are holding out for higher valuations.* (Allbirds, Figs, Mizzen + Main, Versace, A Cold Wall)

Under the leadership of **CEO Francesca Bellettini** and designer **Anthony Vaccarello**, **Saint Laurent** has seen remarkable growth, more than doubling its sales in just five years, and is projected to surpass **$3 billion** in revenue for 2022. This trend signifies a robust market where established brands are becoming attractive targets for acquisition, while newer players are leveraging their potential for higher evaluations in the market.

As the year’s M&A wave starts with once-hot legacy labels finding new owners, while buzzy start-ups hold out for higher valuations, BoF breaks down the types of acquisition targets the industry will likely see this year and the stakes for those potential deals.

Eric Schmidt's Family Office Makes Bold Moves: Investing in 22 AI Startups!

Summary:

Eric Schmidt's Strategic Investments in AI

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