SmallBusinessExecutiveInforming, Inspiring and Connecting Businesses
Companies find ready market for IPOs
When Northbrook-based Nanosphere has needed capital, it has been able to find it, including on the open market. The company, which makes advanced molecular diagnostic systems, has raised $300 million to date, including government grants, private equity and $103 million from a 2007 initial public offering after paying $10 million in related expenses. It closed [...]
GrubHub adds New York partner for next jump in online users
Chicago-based GrubHub has announced a partnership with New York-based Next Jump, which provides employee rewards programs, including deals on restaurants and other goods and services, to more than 100 million people at companies throughout the United States. Terms of the partnership weren’t disclosed, but GrubHub will pay to participate with Next Jump, which recently launched [...]
50 ways to navigate business in China
By George Brown and David Hartman Guest Columnists In 1975, Paul Simon released a song titled “50 Ways to Leave Your Lover,” which, despite the promise of the title, offered only five such possibilities within the lyrics. We consider this to be a solid example of literary license (rather than outright deception) and will therefore follow [...]
Illinois leads in tech employment, while business development lags
The Illinois General Assembly’s passage of SB 107, which creates a Technology Development Account II using money from the state Treasurer’s investment pool to support technology companies, might be a step in the right direction. But Illinois has a lot of catching up to do, experts said. While Illinois is one of the nation’s 10 [...]
New state-funded technology account could mean $150 million-plus in venture capital
The Illinois Senate voted unanimously Tuesday to pass a bill that authorizes 2 percent of the state Treasurer’s investment portfolio to be used for a fund-of-funds supporting technology companies. The House approved the measure May 31, and Gov. Pat Quinn is expected to sign the bill. The legislation creates the Technology Development Account II, which will [...]
No problem too pesky for Northbrook serial entrepreneur
By Ann Meyer Adam Greenberg wasn’t aiming at bedbugs when his medical supply business began offering mattress protection in 2006. Incontinence was the No. 1 problem his Northbrook-based company, NorthShore Care Supply, initially addressed. But when customers told Greenberg they were using the mattress encasements to guard against bedbugs, the entrepreneur saw a new opportunity. He [...]
Groupon reveals financial details in IPO filing
Groupon filed Thursday for an initial public offering of stock that could fetch $750 million, Crain’s Chicago Business reported. The company, which earlier turned down an offer to be acquired by Google, has not yet turned a profit, Crain’s reported. It posted a loss of $389.6 million for 2010 and reported a quarterly loss [...]
Higher gas prices spur Chicago-area employers to lean on technology
About half of Chicago-area employers say they are cutting back on travel and relying more on the Internet and telecommunication technologies due to high gas prices, according to a recent survey conducted by Downers Grove-based Management Association of Illinois. More than 25 percent of the 277 employers surveyed reported that employees had inquired about telecommuting, [...]
Workers’ comp bill to slash $500 million-plus
A workers’ compensation bill that passed the Illinois House Tuesday, after falling short of the necessary votes on Sunday, is expected to cut $500 million to $700 million in costs for employers by eliminating unnecessary treatment and reducing medical fees by 30 percent, according to Crain’s Chicago Business. In addition, the bill sets new term [...]
Latest daily deal innovations give merchants more control
By Ann Meyer Deal sites might bring in customers, but they also can drive down prices and profits. “It’s no longer a deal. It’s a new market price,” said Jeff Glazer, owner of Images Med Spa in Skokie and co-founder of Deal Umpire, a new business-to-business website that uses an auction model to connect merchants [...]
