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The relationship between the venture capitalists of Sand Hill Road and the securities firms and power investors of Wall Street has long been a cozy one. VCs hoping for a return on their investments will need banks eventually, while Wall Street needs VCs to nurture the most promising startups until they’re ready to go public. Or do they? Lately, some of New York’s biggest players have been cherry-picking the best pre-IPO investments for themselves.
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Although the tiny, family-run Joy’s Spa and Nail Salon in Adams Morgan may never get a critique in a newspaper, it’s received 42 reviews on Yelp.com. Reggie Tull, the owner’s son and a massage therapist, said he noticed an increase in traffic with every new review posted on the recommendation site. He’s also surprised by the time writers invest in each posting.
Tag: MercExchange
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Microsoft Corp. said Wednesday it has acquired a United Kingdom online mapping company to enhance its existing Windows Live Web-based services.The software maker did not say what it paid for Multimap, which provides street-level maps, travel directions and local information. Multimap also offers hotel and restaurant-booking services and builds private-label mapping tools for companies, including Hilton Hotels and Ford.
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A federal judge ruled that Web auctioneer eBay Inc. must pay about $30 million in damages to MercExchange LLC as part of a long-running dispute over a patent related to the ecommerce company’s "Buy It Now" fixed-price feature. The ruling marks a setback for eBay in a series of recent legal challenges.