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Rocket Trims IPO By 39 Pct From $3.3B To $2B After Investors Reject Valuation

PYMNTS

The Detroit-based company is expected to market a reduced number of shares at about $18 to $20 apiece, Bloomberg reported, citing sources. Rocket Companies, the parent of mortgage lending giant Quicken Loans , reduced its terms to go public, Bloomberg reported. Last month, Gilbert sought an IPO for $3.3 which is owned by Gilbert.

Cleveland 233
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Rocket Cos, Quicken Loans Parent, Files IPO 

PYMNTS

Securities and Exchange Commission, the Detroit-based parent of Quicken Loans and Rocket Mortgage will go public under the name Rocket Companies. Historically, our originations have been more heavily refinancings than the overall origination market,” the filing said. In its application with the U.S.

Detroit 135
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VCs Back Autobooks For SMB Banking

PYMNTS

The company cited research from Below Research that found 70 percent of SMBs say they would use a cash flow management solution if it were offered by a bank, representing a gap between what small businesses want and what they get from their banks.

Detroit 122
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Retail Pulse: FAO Schwarz To Open New Flagship; Amazon Expands Grocery Delivery

PYMNTS

And Starbucks has a new investor : Pershing Square Capital Management, the activist hedge fund controlled by activist investor William Ackman, now has about a 1.1 Prime Now Grocery pickup, which came to market in August, is now available in eight cities, and Amazon said it has plans for continued expansion.

Retail 116
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Advanced Manufacturing Market Map: 110+ Startups Making Factories More Efficient

CB Insights

This market map is not meant to be exhaustive of companies in the space. Warehouse & packaging robotics — Automated and remotely controlled robots for order picking and inventory management. Inventory Management — Companies offering warehouse inventory management solutions. GE Ventures, Highland Capital Partners.

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How Smart Cities Will Vacuum Up Data — And Attempt To Protect It

CB Insights

” By creating a data standard for the streets, various parties can collaborate more effectively to identify and manage street space. NACTO has other partnerships, including one with scooter company Lime that allows it to provide anonymized scooter use data to the government of Detroit. Remix creates visualizations .

Data 72
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Bright Paths Students Demonstrate New Skills with Incredible Variety of Apps

Perficient

Within mere weeks, 22 women are in the final stages of completing a Perficient-sponsored coding bootcamp in Detroit; their final project includes designing their own apps, all of which serve the world in various ways and all certain to make an impact. Deepti Dhar’s Bright Paths Project: Welcome to Stock Market.

Milwaukee 348