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Business

Record first quarter included several Maryland VC deals topping $100M
April 13, 2021 -

Venture capital totals hit a national quarterly record in the first quarter of 2021, with growing companies raising more nine-digit fundings rounds than ever, according to the latest PwC/CB Insights MoneyTree report. VC investments in Q1 surged to a new quarterly record of over $62 billion, raised through 1,735 deals nationwide, the MoneyTree report shows. The funding total is up 117% year-over-year, and the deal total is up 14%.

Read More: Baltimore Business Journal
Startups often have to look outside Baltimore for funding — but founders say that’s OK
April 13, 2021 -

Stakeholders in the local tech ecosystem have long lamented the Baltimore area’s lack of early-stage funding resources, which forces startup founders to look outside the state to find the growth funding they need. But especially in a post-Covid world, “that’s not necessarily a bad thing,” said Anders Jones, CEO of Facet Wealth. Collectively, the leaders of Baltimore startups Protenus, Facet Wealth and Sonavi Labs have raised more than $100 million in funding, the vast majority of which has come from out-of-state sources.

Read More: Baltimore Business Journal
Four Greater Baltimoreans make Forbes’ 2021 billionaires list, including one newcomer
April 13, 2021 -

Forbes’ 2021 World’s Billionaires List saw the addition of 660 new names, among them the CEO of a Maryland-based health care data analytics company. Keith Dunleavy joined the list at No. 2,141 (of 2,755) with a net worth of $1.4 billion. The founder of Inovalon resides in Annapolis, according to Forbes. He joins three other Greater Baltimoreans who have long held a spot on the annual ranking: Baltimore Ravens owner Stephen Bisciotti, chairman of Allegis Group Jim Davis and Under Armour founder Kevin Plank.

Read More: Baltimore Business Journal
For Orioles fans, familiar Opening Day traditions are reinvigorating after a trying year: ‘This feels like a huge step forward’
April 9, 2021 -

The sign above the entrance to Pickles Pub said it all: “BASEBALL IS BACK.” The Orioles welcomed fans back to Camden Yards for the first time in more than 18 months on Thursday, hosting the Boston Red Sox for their first game game of 2021. Attendance was limited to 25% capacity, with an announced crowd of 10,150 fans declared a sellout as the team tried to adhere to its own health and safety guidelines after the coronavirus pandemic limited last season to 60 games and kept fans out of ballparks across the country.

Read More: Baltimore Sun
The Food Market to open Friday April 9th
April 8, 2021 -

The Food Market in Columbia is set to open on Friday April 9 at 4 P.M. They announced the opening yesterday in a post on Instagram. The restaurant is located at 10480 Little Patuxent Parkway on the Mall side of Little Patuxent across the street from Merriweather Post Pavilion. It was announced back on March 10, 2020 that The Food Market will be coming to Downtown Columbia.

Read More: The Merriweather Post
The battle for Tribune: Inside the campaign to find new owners for a legendary group of newspapers
April 7, 2021 -

Last year, as a group of Baltimore Sun reporters embarked on a long-shot endeavor to find a new owner that could save their paper from a hedge-fund takeover, a former Maryland politician gave them a piece of advice. Treat this like a political campaign. The worried reporters would need to recruit community allies. Hire a public relations firm to sway public opinion. And most crucially: Figure out how to find rich people who might be persuaded to finance a rescue plan.

Read More: Washington Post
Newspaper union takes to the street as their rally to win local ownership of The Baltimore Sun hangs in the balance
April 5, 2021 -

A year into its rallying cry to save The Baltimore Sun from being sold to a hedge fund, the newspaper’s union took to the streets Saturday facing the same uncertainties as when the long-shot quest began, but with more reason for optimism. The Washington-Baltimore News Guild launched its lobbying efforts to return The Sun, the Capital Gazette and the Carroll County Times to local ownership last April, and emotions of the newspaper’s staff and supporters have been whipsawed by events ever since.

Read More: Baltimore Sun
Rival Group Makes Fully Financed, Roughly $680 Million Bid for Tribune
April 5, 2021 -

A Maryland hotel magnate and a Swiss billionaire have made a bid for Tribune Publishing Co. that the newspaper chain is expected to favor over a takeover deal it already struck with hedge fund Alden Global Capital LLC. A special committee of Tribune’s board has determined that a roughly $680 million, $18.50-a-share bid submitted late last week by Choice Hotels International Inc. Chairman Stewart Bainum and Hansjörg Wyss is reasonably likely to lead to a proposal that is superior to Alden’s $635 million deal, people familiar with the matter said.

Read More: The Wall Street Journal
Bank of America heading east, opening up another hole in central business district
March 31, 2021 -

Bank of America has made its rumored move across Baltimore’s Inner Harbor official. The financial giant announced Tuesday it has signed a lease to occupy the 10th and 11th floors of the 24-story Legg Mason tower at 100 International Drive, joining the exodus of companies moving from Baltimore’s central business district. Charlotte, North Carolina-based Bank of America is the biggest bank in Greater Baltimore with $28.6 billion in local deposits as of June 30, according to the Federal Deposit Insurance Corp.

Read More: Baltimore Business Journal
‘Frustating’ Odenton station overhaul may finally be coming
March 30, 2021 -

The stars seem to finally be aligning for a long-desired and much-needed overhaul of the Odenton commuter station and surrounding area to move forward. For almost 50 years, residents of the area have waited to see Odenton Town Center realize its full potential as a transportation, retail and residential hub. Located near Fort Meade, one of Maryland’s biggest contributors of economic activity, the community should be blooming.

Read More: Baltimore Business Journal

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