Charlotte Tech News

[DownEast]

When using the term "Bay area" you are really splitting hairs separating Seattle and Kirkland. 

[Matthew.Brendan]

8 hours ago, KJHburg said:

MAJOR tech news for the state.  Google to open an engineering center in Durham that will employ up to 1000 and destined to be one of the top 5 engineering hubs for the company.

his is HUGE for Durham and the Triangle.  Here is the article from TBJ today

""The California-based company said in a release that the office will serve as a hub for the Google Cloud's engineering team and will eventually grow into one of Google Cloud’s top five engineering hubs in the county, joining the Bay Area in California, New York, Seattle, and Kirkland, Washington.""

"""This new site complements the company’s existing presence in North Carolina, where Google has created more than 600 jobs in a variety of full-time and external supplier roles," Google said. The company has operated a data center in Lenoir in Caldwell County since 2007 and an office in Chapel Hill since 2005.  "Google Cloud has selected Durham for this new site in order to benefit from the region’s diverse, world-class talent to support growing customer demand for its enterprise products and solutions," the company said.""

Google unveils engineering hub planned for Durham; potential for 1,000 jobs - Triangle Business Journal (bizjournals.com)

Google unveils engineering hub planned for Durham; potential for 1,000 jobs - Triangle Business Journal (bizjournals.com)

 

So.... how's that high speed rail link between CLT / Durham / Raleigh looking? Oh, right

[KJHburg]

Wow AvidXchange is planning an IPO that might be worth $5 to 10 Billion in market value.  This would be the biggest tech IPO in Charlotte's history.

""Charlotte unicorn AvidXchange Inc. is prepping for an initial public offering later this year, according to a Reuters report on Tuesday.  The report, citing people familiar with the matter, said AvidXchange is eyeing the second quarter to trade on the stock market. Those involved estimate the firm's value between $5 billion and $10 billion, the report said.""

AvidXchange eyeing more than $5 billion IPO in the second quarter, Reuters report says - Charlotte Business Journal (bizjournals.com)

[HopHead]

Damn, missed this and posted in the other Economic thread lol

[KJHburg]

this is indeed big news with the AvidXchange IPO and it will generate people with wealth that will use that money to start more businesses.

Charlotte 'unicorn' AvidXchange reportedly considering IPO, $7B valuation | WRAL TechWire

[KJHburg]

You heard Robinhood is bringing 389 jobs to uptown Charlotte but do you know the story of how they got here.  From the Biz Journal

GameStop stock controversy in early 2021 didn't change, halt Robinhood expansion into Charlotte - Charlotte Business Journal (bizjournals.com)

""The deal has been 10 months in the making, Bokhari said. Through a network connection, Bokhari said he heard last summer Robinhood was looking to expand into a new city. Leveraging his role at Carolina Fintech Hub, he reached out to try to get the Queen City in the mix. It had not previously been on any of Robinhood's lists of potential markets for expansion, he said.  Ultimately, last summer's project went to the Dallas, Texas, metro area. But, Bokhari said, he received a call in October from a contact at Robinhood, who told him the company was back in the market for expansion.""

""Bokhari said Carolina Fintech Hub hopes to continue building on successes like Better.com, which his organization also worked to bring here, and Robinhood. His group has an active pipeline of prospects, including companies in insurance technology and health tech, that are now looking at Charlotte.    He hopes landing the Robinhood deal will be a turning point and that Charlotte is put on more lists for expansion by fast-growing companies.""

 

[Blue_Devil]

13 hours ago, KJHburg said:

You heard Robinhood is bringing 389 jobs to uptown Charlotte but do you know the story of how they got here.  From the Biz Journal

GameStop stock controversy in early 2021 didn't change, halt Robinhood expansion into Charlotte - Charlotte Business Journal (bizjournals.com)

""The deal has been 10 months in the making, Bokhari said. Through a network connection, Bokhari said he heard last summer Robinhood was looking to expand into a new city. Leveraging his role at Carolina Fintech Hub, he reached out to try to get the Queen City in the mix. It had not previously been on any of Robinhood's lists of potential markets for expansion, he said.  Ultimately, last summer's project went to the Dallas, Texas, metro area. But, Bokhari said, he received a call in October from a contact at Robinhood, who told him the company was back in the market for expansion.""

""Bokhari said Carolina Fintech Hub hopes to continue building on successes like Better.com, which his organization also worked to bring here, and Robinhood. His group has an active pipeline of prospects, including companies in insurance technology and health tech, that are now looking at Charlotte.    He hopes landing the Robinhood deal will be a turning point and that Charlotte is put on more lists for expansion by fast-growing companies.""

 

I expect Health Tech and BioTech to become substantially bigger here with the Med School and research campus it will create. 

[kermit]

Bug business is now pushing back against Georgia voter suppression legislation. Delta was first to speak out and now Microsoft has joined in. NC and Virginia are the only Southern states that might offer the same amount of tech talent. While our hard-won reputation for progressiveness is long gone, there is some opportunity for Charlotte to gain at Georgia's expense. If the state can do nothing, and the city made a visible gesture towards inclusivity then I think we could get Microsoft's attention. The massive Atlanta Bellwood expansion has not yet started coming out of the ground and MS already has substantial operations here. 

Quote

We hope that companies will come together and make clear that a healthy business requires a healthy community. And a healthy community requires that everyone have the right to vote conveniently, safely, and securely. This new law falls short of the mark, and we should work together to press the Georgia legislature to change it.

https://blogs.microsoft.com/on-the-issues/2021/03/31/why-we-are-concerned-about-georgias-new-election-law/

Were it not for HB2 we might have been the new "City too busy to hate"

 

Edited March 31, 2021 by kermit

[sclark]

Just now, kermit said:

Bug business is now pushing back against Georgia voter suppression legislation. Delta was first to speak out and now Microsoft has joined in. While we may not be much better than GA in terms of our progressiveness, there is an opportunity for Charlotte to gain quite a few Microsoft jobs if the state and the city can play their cards right. Microsoft's big Bellwood expansion has not started coming out of the ground yet. 

https://blogs.microsoft.com/on-the-issues/2021/03/31/why-we-are-concerned-about-georgias-new-election-law/

 

This could hopefully push some film / TV projects our way. 

[rancenc]

Not only in Charlotte and the other larger cities of the state, but our smaller and rural areas are reaping the benefits of the high tech industry's attraction to North Carolina.

https://businessnc.com/facebook-likes-forest-city/

 

Edited April 1, 2021 by rancenc

[KJHburg]

Charlotte startup Phoozy scores $500K in investment on Shark Tank.

Here is what they do:

""Conway and Inglis co-founded Phoozy in 2017. The startup manufactures thermal capsules that prevent handheld electronics from overheating in the sun and prolong battery life in extreme cold. The capsules also float in water and provide military-grade drop protection.""

Congrats!

Startup Phoozy lands 'Shark Tank' investment - Charlotte Business Journal (bizjournals.com)

The Ultimate Protection For Your Phone, Tablet & Laptop | PHOOZY

My phone almost over heated just yesterday as I left in my vehicle in the sun!  I need to get a Phoozy 

[cltcane]

19 hours ago, KJHburg said:

Charlotte startup Phoozy scores $500K in investment on Shark Tank.

Here is what they do:

""Conway and Inglis co-founded Phoozy in 2017. The startup manufactures thermal capsules that prevent handheld electronics from overheating in the sun and prolong battery life in extreme cold. The capsules also float in water and provide military-grade drop protection.""

Congrats!

Startup Phoozy lands 'Shark Tank' investment - Charlotte Business Journal (bizjournals.com)

The Ultimate Protection For Your Phone, Tablet & Laptop | PHOOZY

My phone almost over heated just yesterday as I left in my vehicle in the sun!  I need to get a Phoozy 

Me too! My phone actually did overheat yesterday while leading a conference call from my sunny condo courtyard.  Was using it as a WiFi hotspot too, so double whammy.

[KJHburg]

CoRvid Technologies HQ on Lake Norman in south Iredell County (R capitalized to emphasize it is not Covid) 

This Tech company works with companies and agencies from Dept of Defense  to Nascar. 

COMPANY | corvid-new (corvidtec.com)

Owned by the Chickasaw tribe.  Chickasaw Nation Industries

Perhaps they can claim ownership of this land and build a casino in Mooresville since the Catawba's crossed the state line. 

[KJHburg]

Lowes tech exec talks about their company and the gift to UNC Charlotte. UNC Charlotte #1 in graduates in computer science in the Carolinas. 

Lowe's CIO Seemantini Godbole talks UNCC partnership and how technology, innovation are shaping retailer - Charlotte Business Journal (bizjournals.com)

[kermit]

So the Wells CEO discussed the need to the company to substantially ramp up its investment in digital banking. The article did not mention Charlotte (or any other location), but it left me to wonder about the prospects of much of it happening here? Does BAC still do most of its IT stuff in Charlotte? (I thought most of that work was done at Gateway a few years back but I have heard very little about it lately). Along with Truist, if Wells increases its software and security efforts here it might translate into a hell of a boost to our fintech cluster.

https://www.bizjournals.com/sanfrancisco/news/2021/04/14/wells-fargo-ceo-talks-candidly-about-the-bank-s-wo.html

Edited April 17, 2021 by kermit

[KJHburg]

a couple of Red Ventures alums start their own tech company in uptown Charlotte.

Charlotte Inno - Charlotte-based Atomized is helping developers deploy software faster (bizjournals.com)

Atomized (atomizedhq.com)

[KJHburg]

Charlotte based startup Carewell gets major funding $25 M to be exact.

A 'Chewy.com for caregivers' – startup Carewell – raises $25M | WRAL TechWire

[KJHburg]

SF Bay area Fintechs making moves to the Queen City. 

1. Robinhood has 29 open jobs here in Charlotte for their new uptown office.  Finance and Tech

Careers | Robinhood

2. Credit Karma also based in California has 45 job openings here more than their 2 other California offices combined by a long shot!   Ballantyne is their QC home.

Work at Credit Karma | Credit Karma

3. and someone tipped me off about this one (another smart UPer) :  Varo Bank another digital bank based in San Francisco is advertising 11 jobs here in Charlotte for their office that is not yet announced. so look for an announcement soon on Varo. 

Careers | Varo Bank: Join the bank on a mission (varomoney.com)

SF Bay area Fintechs making moves to Charlotte! Maybe not the HQs but to scale the company as it is getting harder and harder to attract people to the Bay area. 

Edited May 21, 2021 by KJHburg

[Blue_Devil]

9 minutes ago, KJHburg said:

SF Bay area Fintechs making moves to the Queen City. 

1. Robinhood has 29 open jobs here in Charlotte for their new uptown office.  Finance and Tech

Careers | Robinhood

2. Credit Karma also based in California has 45 job openings here more than their 2 other California offices combined by a long shot!   Ballantyne is their QC home.

Work at Credit Karma | Credit Karma

3. and someone tipped me off about this one (another smart UPer) :  Varo Bank another digital bank based in San Francisco is advertising 11 jobs here in Charlotte for their office that is not yet announced. so look for an announcement soon on Varo. 

Careers | Varo Bank: Join the bank on a mission (varomoney.com)

SF Bay area Fintechs making moves to Charlotte! Maybe not the HQs but to scale the company as it is getting harder and harder to attract people to the Bay area. 

Interesting that both Varo Bank and USAA are hiring a lot of AML and Compliance jobs

[KJHburg]

Just now, Blue_Devil said:

Interesting that both Varo Bank and USAA are hiring a lot of AML and Compliance jobs

It is a strength of the Charlotte finance labor pool with our huge banks. 

[KJHburg]

Charlotte based Passport has raised $90 M in additional funds for further growth.  Based uptown in the First Citizens Bank Plaza.  Another Charlotte tech start up success stories. 

Passport Raises $90M in Growth Capital with Sixth Street Growth - Passport (passportinc.com)

[Blue_Devil]

39 minutes ago, KJHburg said:

Charlotte based Passport has raised $90 M in additional funds for further growth.  Based uptown in the First Citizens Bank Plaza.  Another Charlotte tech start up success stories. 

Passport Raises $90M in Growth Capital with Sixth Street Growth - Passport (passportinc.com)

That has got to put them close to Unicorn status. Previous to this round, they had 125 million in funding raised. 

[KJHburg]

Here is the Biz Journal article about the big 600 job expansion for Credit Karma.

California-based Credit Karma to grow its Charlotte office - Charlotte Business Journal (bizjournals.com)

""Credit Karma employs 189 in Charlotte today. Its local office is in Ballantyne, where it leases about 30,000 square feet. Credit Karma executives said in February it expected to add 175 people in Charlotte in 2021.  There are currently 44 job openings for Charlotte on Credit Karma's website. Roles include software engineers, marketing managers, designers and business development managers.   Economic investment committee members said on Monday the project will include will include a significant number of computer programming and software development positions. Activities will include building scalable systems to support new Credit Karma product features, design and development of new microservices, building new experiences on desktop and mobile platforms, and extending Credit Karma's platforms to new countries and markets.  Fort Mill was the primary competition for the expansion.""

 

[joenc]

I don't know if it's been mentioned, but it seems like Square is adding people here. In particular for Cash App and the Tax product they acquired from Credit Karma.

[KJHburg]

4 minutes ago, joenc said:

I don't know if it's been mentioned, but it seems like Square is adding people here. In particular for Cash App and the Tax product they acquired from Credit Karma.

yes they are here are their open positions in Charlotte.  So with this spin off from Credit Karma we have 2 fintechs Square and Credit Karma with Charlotte offices from their split.

Jobs at Square (squareup.com)

Edited May 25, 2021 by KJHburg