Microsoft Moving 300 Employees Out of Kendall Square
Microsoft New England is moving roughly 300 employees out of its Kendall Square office and into an office in Burlington, but the company said it's here to say in Cambridge with its other 450 employees there, Boston Business Journal reported. The employees being moved work in Microsoft's Sales, Marketing, and Services group. Robert Davy, general manager for Microsoft's Northeast Enterprise and Partner Group said in a blog post that the company plans to renovate its Cambridge space to provide more collaborative work spaces for its research and development teams and to give more room for business growth. Davy added that the sales and marketing group moved to Burlington for easier access to surrounding states in its sales region.
GE Deal Includes Another $125M For Bridge & Infrastructure Upgrades
The city of Boston has pledged to pay up to $100 million to reopen the currently closed Old Northern Avenue Bridge on the city's waterfront, as part of its deal to lure General Electric to Boston, according to the Boston Globe. The newspaper reported that the state is offering $25 million for infrastructure improvements in the Seaport District, also as part of the GE deal. Both of these dollar figures are in addition to the $151 million incentive package the city and state have put together for GE and publicly announced last week. Citing anonymous city and state officials, the Globe said the bridge and infrastructure improvements were included in GE's incentive package "to make their bid as attractive as possible." The newspaper said the city had been looking to reopen the bridge since it was closed in 2014 as a way to make it easier to travel around South Boston's waterfront.
Flywire Acquires Another International Competitor
Flywire, a fintech/edtech startup processing tuition payments for students, says it has acquired Toronto-based ScholarFX. It's the second such acqui for Flywire in a little over three months: In October, Flywire (formerly Peertransfer) announced the acquisition of UK-based Uni-Pay. The ScholarFX deal brings a handful of new institutions onto Flywire's platform, including Bishop’s University, MacEwan University and Camosun College. Flywire says it's on track to process $2 billion in transactions for the 2015-2016 academic year. Here's Flywire's news release.
World of Beer Is Coming to CambridgeSide Galleria
Massachusetts will get its first taste of World of Beer this June, as the Florida-based chain announced Tuesday it will be moving in to the CambridgeSide Galleria. "World of Beer is leading the unique, exploding cultural phenomenon of Craft Taverns," according to a company release. "The restaurant concept features an extensive beer selection, a 'tavern fare' menu, craft spirits, live entertainment and a passionate and knowledgeable staff." Read more.
Texas Attorney General Declares Daily Fantasy Sports 'Prohibited Gambling'
In response to a legislative inquiry, the Texas Attorney General Ken Paxton declared earlier on Tuesday that daily fantasy sports constitute "illegal gambling" under state law. In a release, the attorney general explained that he found daily fantasy companies such as DraftKings, FanDuel and Yahoo to be operating outside of Texas law. Read more.
Mayor Announces a New 'Office of Housing Stability'"New homes will help bring costs back to working people’s budgets. But many just want a fair deal where they live right now. Last year, we doubled the compensation people get when their apartments are turned into condos. But we should do more than compensate," Mayor Marty Walsh said in his 2016 State of the City address, Tuesday night. "We should help people stay in their communities. Tonight, I can announce a new Office of Housing Stability, to do just that. It’s going to develop resources for tenants, incentives for landlords who do the right thing, and partnerships with developers to keep more of our housing stock affordable." Read more.
Berklee and The Boston Conservatory Officially Agree to Merger
Although the two institutions had already come to a tentative agreement on a merger, both schools' Boards of Trustees have officially voted in favor of it. The schools will be publicly signing an agreement January 20. The accreditation process is to follow and all of the details are expected to be worked out by June of 2016. The Boston Globe reports.
Tablelist Plans App Expansion To LA & 3 Other Major Cities
Boston-based Tablelist is planning to expand coverage for its nightclub mobile app to Los Angeles and three other major U.S. cities. In addition to L.A., Boston Business Journal reported that the app will eventually let users book VIP tables at nightclubs in San Diego, Houston and Chicago this year. The app, which launched in 2014, is already available in Boston, New York City, Las Vegas and six other U.S. cities. The startup plans to add 10 employees to its current 20-person headcount by the end of the year, according to the BBJ.
Wayfair Launches 'Explore the Great Indoors' National TV Ad Campaign
Wayfair ($W) has launched a new national television advertising campaign as it "continues to deepen its capabilities in advertising and media," the company said Tuesday. The new campaign, called "Explore the Great Indoors," showcases the e-commerce company's wide selection of home furnishings, and it includes two ad spots that will air today on a number of national cable networks, including HGTV, TLC, A&E and Bravo. The company has been making a larger investment in its own media and advertising efforts in the form of Waygency, the company's in-house advertising agency.Last October, the company opened a 50,000-square-foot lifestyle photography studio.
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