CHICAGO | Economic & Business Development

[Justin_Chicago]

Chicago health care startup raises $52 million

Chicago health care startup Livongo raised $52 million from some high-profile investors.

General Catalyst and Kinnevik Ventures co-led the deal, which also included Microsoft Ventures, Singapore investment fund EDBI and American Investment Holdings.

Livongo, led by former Allscripts CEO Glen Tullman, helps people manage chronic diseases such as diabetes.

"This round will further accelerate our growth in diabetes management, fund our expansion to additional chronic conditions like hypertension, and allow us to enter international markets in 2017," Tullman said in a statement.

Article: http://www.chicagobusiness.com/artic...llmans-livongo

[killaviews]

What is the biggest corporate prize the city could gain from the burbs?

I'm just entertaining wild ideals here. It's been a little while since we landed a 1000+ office, but I hope there are more on the horizon.

According to the Tribune's best employers, Discover Financial has over 3,600 employees.

I feel like the drug companies are a lost cause. Maybe they need too much lab space. But Abbvie apparently has over 4000 employees in North Chicago and Mettawa.

These numbers would probably be larger than any other corporate relocation. Can a company be too big where a relocation is not feasible?

[the urban politician]

^ I don't know about the burbs, but I would like to see Chicago land Dow Chemical (which had been discussed a while back). Other ones would include Monsanto (which we are hearing just plain isn't happening).

Snagging a major bank would be nice. Chicago lost its last major bank (Bank One) when it was acquired by JP Morgan about 12 years ago.

[HowardL]

Originally Posted by the urban politician

Snagging a major bank would be nice. Chicago lost its last major bank (Bank One) when it was acquired by JP Morgan about 12 years ago.

Saying this as a man who opened his first checking account at The First National Bank of Chicago back when LaSalle Bank and Harris Bank were still the other hometown options, I just don't see banking HQ's coming back.

Being the capital of derivatives trading means that banking is a back-office/support service. However, with CME/CBOE/OCC and the heavy hitters Citadel/DWR/Jump/on-and-on-and-on all in town, there could be some dynamic at a future point where having the banks closer to the action here in the Loop is viable.

I still think that the derivatives industry needs to establish an identity separate from the capital markets if the financial ecosystem here is going to grow. Anecdotally, I still hear people here in Chicago who think CBOT is a stock exchange.

The industry, the exchanges in particular, and the City itself need to do a better job of growing the brand.

[Justin_Chicago]

Originally Posted by the urban politician

^ I don't know about the burbs, but I would like to see Chicago land Dow Chemical (which had been discussed a while back). Other ones would include Monsanto (which we are hearing just plain isn't happening).

Snagging a major bank would be nice. Chicago lost its last major bank (Bank One) when it was acquired by JP Morgan about 12 years ago.

I would love to see Wintrust continue their M&A strategy and eventually move their HQ from Rosemont to The Loop. I think the renovation of the Old Post Office will draw another big move downtown. Maybe Walgreens.

[Justin_Chicago]

Selfie startup lands $1.5 million

UPshow, a Chicago startup that brings selfies to the big screen via social media, has attracted the attention of some big-name investors.

The company raised $1.5 million from Howard Tullman, Fieldglass founder Jai Shekhawat, ComScore co-founder Gian Fulgoni, Edgewater funds co-founder Dave Tolmie and former Playboy CEO Scott Flanders.

The technology allows patrons at a bar or restaurant to take a photo and post it via Twitter or Instagram to a TV screen in the venue by using a hashtag.

The company has grown to 25 employees, up from about 10 a year ago, Hirsen says.

UPshow will use the capital to increase its staff, primarily its sales and engineering teams.

Article: http://www.chicagobusiness.com/artic...lion-in-upshow

[Justin_Chicago]

BlueCross BlueShield fund invests in Ferro health-care creation Higi

Higi, a health care company launched by now-Tronc Chairman Michael Ferro, has received an undisclosed investment from BlueCross BlueShield's venture fund, according to a statement on the company's website.

Founded in 2012, Higi owns and operates 11,000 self-screening health kiosks in retailers nationwide. In 2014, Higi signed a deal with national drugstore chain Rite Aid to become its sole provider of health stations where customers can check their weight, pulse, body mass index and blood pressure. It raised $40 million in funding in early 2016.

Higi has 50 employees, according to data from BuiltinChicago, up from 23 in 2013.

Article: http://www.chicagobusiness.com/artic...-creation-higi

[Justin_Chicago]

A French Autonomous Bus Startup Will Open Its First US Office in Chicago

Navya, a Lyon, France-based startup that makes fully electric and autonomous shuttles, announced today that it is opening its first US office in Chicago. The office will be located in Chicago's Ravenswood neighborhood and will house sales managers, customer relations managers and project coordinators. The company plans to have a team of five by the end of the year.

Navya launched in 2015 and has raised more than $30 million to date. Its autonomous vehicle Arma was in development for 10 years before it debuted, and can go 28 miles per hours and carry 15 people at a time. Navya has been on the road in places like France, Switzerland and Japan, and Las Vegas held a 2-week trial of the shuttles in January. Navya has also tested Arma at MCity, the University of Michigan’s test site for connected and automated vehicles.

Navya says there are 35 Arma vehicles in use in nine countries around the world, and it has transported more than 130,000 people.

Based off its success in Vegas, Navya said it decided it was the time was right to establish a permanent location in the US

Article: http://chicagoinno.streetwise.co/201...ce-in-chicago/

[Justin_Chicago]

Kellogg opens 50-employee Merchandise Mart office

The maker of breakfast favorites Froot Loops, Pop Tarts and Rice Krispies has opened an office in Chicago's Merchandise Mart, continuing a run of food-related companies leasing new spaces downtown.

Kellogg Co. in February opened a new office in the sprawling River North building, where it plans to have about 50 employees in its global growth and IT departments, the Battle Creek, Mich.-based company said.

Kellogg is consolidating workers who previously were in other, smaller offices downtown, said spokeswoman Kris Charles in an emailed statement. When called with follow-up questions, Kellogg representatives wouldn't say whether the company planned to hire more workers for the office, which opened Feb. 20.

The company has positions posted on job sites, and Charles added that the Mart office "will provide great access to digital, analytic and e-commerce talent pools."

Article: http://www.chicagotribune.com/busine...403-story.html

[HowardL]

Originally Posted by Justin_Chicago

Kellogg opens 50-employee Merchandise Mart office

This intrigues me. Kellogg's, despite their oft stated affinity to staying put in Kalamazoo, is a perfect fit for the food processing ecosystem in the Loop. What they do is a thing in Chicago.

Could this simply be their testing the waters?

[the urban politician]

Nielsen moving offices downtown. Hundreds of jobs

[Vlajos]

Originally Posted by the urban politician

Nielsen moving offices downtown. Hundreds of jobs

And a huge new lease. CBD commercial space absorption should continue to put up good numbers.

[Justin_Chicago]

The details....

Nielsen to expand downtown office, exit suburbs

Nielsen, the TV ratings firm, is joining the suburbs-to-city trend, cutting a deal to move all of its Chicago-area employees into one Loop office building.

Nielsen has signed a lease for 215,000 square feet in the tower at 200 W. Jackson Blvd., where it already has an office, said Tom Saletta, principal at White Oak Realty Partners, the Chicago-based real estate firm that owns the building.

Nielsen plans to move employees there from offices it has in Schaumburg, Evanston, West Dundee and the Ravenswood neighborhood in Chicago. The company is tripling its space in the Loop building, where it currently occupies about 70,000 square feet.

Article: http://www.chicagobusiness.com/reale...-200-w-jackson

[the urban politician]

^ Kelloggs is based in Battle Creek not K zoo

[marothisu]

Preliminary labor force statistics are out for February. The unemployment rate of the city dropped 0.7% to 5.5% and the metro area also dropped its unemployment rate 0.7% to 5.3%. That's the lowest rate in the city since March 2007 and the lowest number of unemployed persons since May 2007.


Cities:

* San Francisco: 3%
* Boston: 3.4%
* San Jose: 3.9%
* San Diego: 4%
* Dallas: 4.5%
* Phoenix: 4.5%
* NYC: 4.8%
* Los Angeles: 5.1%
* Miami: 5.1%
* Chicago: 5.5%
* Milwaukee: 5.5%
* Atlanta: 5.6%
* Houston: 5.6%
* Washington DC: 6.1%
* Philadelphia: 6.2%
* Baltimore: 6.6%
* Detroit: 12%

By MSA:
* San Francisco: 3.5%
* San Jose: 3.6%
* Boston: 3.7%
* Washington DC: 3.9%
* San Diego: 4.2%
* Dallas: 4.3%
* Phoenix: 4.4%
* Los Angeles: 4.5%
* MIlwaukee: 4.5%
* Baltimore: 4.7%
* Charlotte: 4.7%
* NYC: 4.7%
* Miami: 4.8%
* Atlanta: 4.9%
* Philadelphia: 4.9%
* Chicago: 5.3%
* Pittsburgh: 5.7%
* Detroit: 5.9%
* Houston: 5.9%

[Vlajos]

Originally Posted by marothisu

Preliminary labor force statistics are out for February. The unemployment rate of the city dropped 0.7% to 5.5% and the metro area also dropped its unemployment rate 0.7% to 5.3%. That's the lowest rate in the city since March 2007 and the lowest number of unemployed persons since May 2007.


Cities:

* San Francisco: 3%
* Boston: 3.4%
* San Jose: 3.9%
* San Diego: 4%
* Dallas: 4.5%
* Phoenix: 4.5%
* NYC: 4.8%
* Los Angeles: 5.1%
* Miami: 5.1%
* Chicago: 5.5%
* Milwaukee: 5.5%
* Atlanta: 5.6%
* Houston: 5.6%
* Washington DC: 6.1%
* Philadelphia: 6.2%
* Baltimore: 6.6%
* Detroit: 12%

By MSA:
* San Francisco: 3.5%
* San Jose: 3.6%
* Boston: 3.7%
* Washington DC: 3.9%
* San Diego: 4.2%
* Dallas: 4.3%
* Phoenix: 4.4%
* Los Angeles: 4.5%
* MIlwaukee: 4.5%
* Baltimore: 4.7%
* Charlotte: 4.7%
* NYC: 4.7%
* Miami: 4.8%
* Atlanta: 4.9%
* Philadelphia: 4.9%
* Chicago: 5.3%
* Pittsburgh: 5.7%
* Detroit: 5.9%
* Houston: 5.9%

Thanks for posting. Do you know where to find the non farm payroll numbers by city (not MSA)?

[marothisu]

Originally Posted by Vlajos

Thanks for posting. Do you know where to find the non farm payroll numbers by city (not MSA)?

I don't. The only thing I know remotely close is maybe the QWI (Quarterly Workforce Indicators) from the US Census Dept. They are always very far behind - right now the latest data is Q2 2016.

[Vlajos]

Originally Posted by marothisu

I don't. The only thing I know remotely close is maybe the QWI (Quarterly Workforce Indicators) from the US Census Dept. They are always very far behind - right now the latest data is Q2 2016.

Ok, thanks

[cmmcnam2]

Hello all, long time lurker, first time poster! Not sure how all of this works/correct protocol but this is exciting! Conde Naste and Pitchfork moving to the Merchandise Mart:

http://www.chicagobusiness.com/artic...WS06/170419957

[Justin_Chicago]

Welcome! I think the process is simple. Promote the economic engine of Chicago to show there is a lot of positive news going on.

Inside FinTank, Chicago's Newest Fintech Incubator and Coworking Space

In Chicago, where no one sector occupies more than 12 to 15 percent of the economy, its local fintech economy is thriving. In 2016, the fintech industry, an umbrella term for technology and innovation disrupting trading, banking, insurance and real estate investing, brought in $25.9 billion in gross regional product and employed 123,156 across 8,412 companies, according to World Business Chicago.

With tech pillars like Braintree, Morningstar, Avant, Tastytrade, Trading Technologies, and YCharts, coupled with legacy institutions like CME Group and The Chicago Board Options Exchange, the largest options exchange in the U.S., Chicago has long been a powerhouse in the space.

Complementary to these more established businesses is the ever growing number of startups in the arena. And, recently, a new incubator and coworking space has launched in the Loop to help cultivate and scale the city's fintech startup community.

FinTank, which opened in the Signature office space on the 27th floor of the CNA building, aims "to provide a physical location for fintech startups to convene and market their ideas," including access to mentorship, networking events, investors. Leading these efforts is Dr. George Vukotich, who previously helped recruit over 500 mentors and 400 workshops while serving as VP of education and programming at 1871.

FinTank has recruited five early-stage startups as members and is actively looking for more companies in the space, sponsors, and investors wishing to serve as mentors. The space is filling up its events calendar with meetups focused around blockchain, cybersecurity, big data and business intelligence applications in the financial industry. It hopes to establish a year-long mentorship program where every startup at FinTank would be matched with industry mentors with different areas of expertise who would serve as advisory board members, with monthly check-ins.

Article: http://chicagoinno.streetwise.co/201...working-space/

https://fintank.org/#events