I have a great distinct name in my mind for an app idea but while running trademark search I found it has been already registered by a movie director in my country, India.
Since class 9 (under NICE classification) deals with downloadable mobile app, can I use the same name for my app and marketing or I stand no chance?
Recently the European Central Bank announced the possibility of launching a digital euro. The news comes hot on the heels of China’s announcement of a digital yuan, which is already being rolled out via a trial in the city of Shenzhen with 50,000 residents taking part, parallel to Facebook’s grand plans for its own digital…
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On Friday, former Tiger Global Management investor Lee Fixel registered plans for the second fund of his new investment firm, Addition, just four months after closing the first. In fact, according to a report on Friday by the Financial Times, Fixel has already secured a fresh $ 1.4 billion in capital commitments for that second fund, which Addition reportedly doesn’t plan to begin investing until next year.
But a source close to the firm now says the fund is not, in fact, raised. That’s perhaps good news for investors who were shut out of Addition’s $ 1.3 billion debut fund and who might be hoping to write a check this time around.
The mere fact that Fixel is back in the market already has tongues wagging about the dealmaker, one whose reluctance to talk on the record with media outlets seems only to add to his mystique. Forbes published a lengthy piece about Fixel this summer, in which Fixel seems to have provided just one public statement, confirming the close of Addition’s first fund and adding little else. “We are excited to partner with visionary entrepreneurs, and with our 15-year fund duration, we have the patience to support our portfolio companies on their journey to build impactful and enduring businesses,” it read.
According to Forbes, that first fund — which Fixel is actively putting to work right now — intends to invest one-third of its capital in early-stage startups and two-thirds in growth-stage opportunities.
Whether that includes some of the special purpose acquisition vehicles, or SPACs, that are coming together right and left, isn’t yet known, though one imagines these might appeal to Fixel, who has longed seemed to be at the forefront of new trends impacting growth-stage companies in particular. (A growing number of SPACs is right now looking to transform some of the many hundreds of richly valued private companies in the world into public companies.)
Clearer is that Addition is wasting little time in writing some big checks. Among its announced deals is Inshorts, a seven-year-old, New Delhi, India-based popular news aggregation app that last week unveiled $ 35 million new funding led by Fixel.
The deal represents Addition’s first India-based bet, even while Fixel knows both the country and the startup well. He previously invested in Inshorts on behalf of Tiger; he’s also credited for snatching up a big stake in Flipkart on behalf of Tiger, a move that reportedly produced $ 3.5 billion in profits when Flipkart sold to Walmart.
Addition also led a $ 200 million round last month in Snyk, a five-year-old, London-based startup that helps companies securely use open-source code. The round valued the company at $ 2.6 billion — more than twice the valuation it was assigned when it raised its previous round ten months ago.
And in August, Addition led a $ 110 million Series D round for Lyra Health, a five-year-old, Burlingame, Ca.-based provider of mental health care benefits for employers that was founded by former Facebook CFO David Ebersman.
A smaller check went to Temporal, a year-old, Seattle-based startup that is building an open-source, stateful microservices orchestration platform. Last week, the company announced $ 18.75 million in Series A funding led by Sequoia Capital, but Addition also joined the round, having been an earlier investor in the company.
According to Pitchbook data, Addition has made at least 17 investments altogether.
Fixel — whose bets while at Tiger include Peloton and Spotify — isn’t running Addition single-handedly, though according to Forbes, he is the single “key man” around which the firm revolves, as well as the biggest investor in Addition’s first fund.
He has also brought aboard least three investment principals from Wall Street and a head of data science who worked formerly for Uber (per Forbes). Ward Breeze, a longtime attorney who worked formerly in the emerging companies practice of Gunderson Dettmer, is also working with Fixel at Addition.
(Correction: An earlier version of this story reported that Fixel’s newest fund was already raised, per the FT.)
Me and my associate are getting ready to launch a consulting company. We strugled to come up with a name that fit our vision but one thing was clear: we didn't want any name with the world 'consulting' in it. After days of trying to find a suitable name, we came up with the easiest solution: the first letters of both our first names. Original? I don't know. Easy? Definitely. The problem is: most of the .com domains similar to our name are taken. What should we do? Should we just look for another name?