Each day, DC Inno highlights the moves companies are making—from mergers and acquisitions to shutdowns—in our daily newsletter, The Beat. Trust us, though, we know how difficult it is to keep up. Each quarter we round up “The Departed,” or startups that have left the D.C. metro area, been acquired or merged or even shut down. Here’s what happened in the first quarter of 2018: 

The Shuttered

  • Framebridge Closes Maryland Production Facility: Washington, D.C.-based startup Framebridge has decided to close its Lanham, Md. production facility and move all of its production operations to its warehouse in Richmond, Ky, as reported on Jan. 11. The move impacts 40 local employees, all of whom have been offered relocation packages along with severance and job outplacement assistance. Framebridge will continue to be headquartered in its Georgetown office.

  • Launch Academy Cancels D.C. Location Launch: It’s not every day a coding school puts out a press release to launch in a new city, finds a space to call their own and then quietly abandons ship. But that’s the story over at Boston-based Launch Academy, which in July announced it would be bringing an all-women coding boot camp program to the District at cove’s new Dupont Circle location that ended up never opening its doors. According to a former Launch Academy employee, the new program just didn’t garner enough interest to merit starting it, as we reported on Jan. 18.

  • Impact Hub D.C. Shuts Down After Eviction Notice: After four years, Impact Hub D.C. closed its doors at the end of January, as we reported on Jan. 19. For the community, the shutdown seems abrupt. But court documents from November and December tell a story of missed rent and utility payments and a stay from a judge that prohibited their landlord, the Grand Lodge of the Independent Order of Odd Fellows of D.C., from evicting Impact Hub D.C.’s owners until Feb. 1 — the same day Mission Hub, Impact Hub D.C.’s parent company, is closing up shop in D.C.

  • TechShop Evicted, Shuts down in Crystal City: TechShop was officially evicted from its Crystal City location, as reported on Jan. 23. The Arlington location of the San Jose-based makerspace chain received an eviction notice on Jan. 18, and as of today, keys have been turned over and locks have been changed making that eviction official.

The Merged and Acquired

  • Mark Eins Bought a D.C. Security Company: As reported on Jan. 3, Ein bought D.C. company Urban Alarm. Ein, who is also the owner of security company Kastle Systems, sees Urban Alarm as a complement to Kastle’s business. Urban Alarm launched in 2003 and provides security systems primarily for individual residencies.

  • Capital One Made an Acquisition: McLean, Va.-based Capital One acquired Richmond, Va. machine learning startup Notch, as reported on Jan. 5. Terms of the deal were not disclosed. All 16 of Notch’s employees joined Capital One’s machine learning center and continue to be based out of Richmond.

  • Tech.Co Acquired by London-based MVF Global: Tech.Co, a series of online news sites covering tech and business news, was acquired by global publishing group MVF Global, the company announced on Jan. 15. Tech.Co started as Tech Cocktail in 2006 and as a series of networking events in the Chicago tech scene. Since then, they have expanded into a fledging media business in 21 cities across the U.S. Both co-founders, Frank Gruber and Jen Consalvo, are former AOL-ers, and Gruber, who is also a founding member of NextGen Venture Partners, splits his time between D.C., Chicago and Las Vegas. Consalvo is based in the D.C. metro area.

  • FiscalNote Makes International Acquisition: FiscalNote, the D.C.-based government analytics startup, acquired Brussels-based Shungham, the company announced on Jan. 25 at the World Economic Forum in Switzerland. By purchasing the regulatory intelligence company, FiscalNote is able to further its reach into the European Union. With it, Shungham brought a slew of customers. The company produced a product called the “EU Issue Tracker,” along with similar products, that track different policy items. However, because of different requirements across Europe, Shungham has been relying on manual tracking. Shungham’s customers included Honda, Honeywell, Johnson Controls, L’Oreal and Nestle.

  • D.C.-Area Startup Acquired by Austin’s LivingTree: Austin-based LivingTree acquired D.C.-based district fundraising tool EdBacker, according to a press release on Jan. 30. With that, LivingTree is rolling EdBacker’s offerings into its suite of K-12 engagement products. EdBacker CEO and founder Gary Hensley took the helm of the newly combined companies as CEO. EdBacker had received funding from the likes of 1776, Michael Chasen (former Blackboard co-founder and CEO) and Capital Factory in Austin.

  • Arlington Capital Partners Acquired a Chantilly Defense Consultant: Arlington Capital Partners, a private equity firm located in Chevy Chase, acquired Chantilly, Va.-based Integrity Applications for an undisclosed price on Feb. 15. With the acquisition, Arlington Capital Partners plans to combine it with portfolio company Xebec Global, a McLean, Va.-based firm that Arlington Capital acquired in October. Both companies serve the intelligence and defense community in their own ways. Integrity Applications provided consulting services, while Xebec provided human intelligence solutions.

  • PhishMe Acquired By Private Equity Firms: Leesburg, Va. cybersecurity startup PhishMe was acquired by a group of private equity firms on Feb. 26 in a deal that valued the company at $400 million, and as a result, the startup has rebranded to Cofense. Through the deal, the company is expected to keep staffing the same and remain in the D.C. metro area. According to a report in Fortune, Pamplona Capital Management purchased a two-thirds stake, while BlackRock bought the remainder. Cofense could not confirm which firms are a part of this deal.

  • Inovalon Acquires Minneapolis Software Company for $1.2B: Bowie, Md.-based Inovalon Holdings acquired Minneapolis software company Ability Network for $1.2 billion, according to reports on March 7. With the acquisition, Inovalon can expand its software product reach to doctor’s offices and hospital networks. Inovalon offers software that tracks the efficiency and cost-effectiveness of health care services. Past clients included insurance companies, drug companies, device makers and diagnostics firms. The March acquisition move follows a string of recent acquisitions Inovalon has made.

  • Va. Startup Heading to California Following Acquisition: After being acquired by a California company on March 21, McLean, Va.-based MobilePhire, a mobile data management startup, is moving to the West Coast. The company announced on March 21 that it had been acquired by MobilSense in Agoura Hills, California for an undisclosed price. All three co-founders will be taking new roles at MobileSense.

  • D.C. E-Discovery Startup Acquired, Merged with Austin Startup: Consilio, a D.C.-based e-discovery, document review and legal consulting services firm, was purchased by GI Partners on March 22 and merged with portfolio e-discovery company Advanced Discovery, which is based in Austin, Texas. The newly combined company has over 2,500 employees, 14 data centers and 23 document review facilities across 11 countries.

Other Moves of Note

  • Current Newspapers Filed for Bankruptcy: Current Newspapers filed for Chapter 11 bankruptcy in early January. According to a petition filed Jan. 3 in the U.S. Bankruptcy Court for the District of Columbia, Current has less than $50,000 in assets and more than $1.2 million in liabilities. Through the bankruptcy, Current expects to operate normally with the hopes of alleviating some of their debts, according to their lawyer.

  • Discovery Moving Its Global Headquarters to New York City: Discovery Communications plans to relocate its global headquarters from Silver Spring, Md. to New York City. The company, which owns the Discovery Channel, Animal Planet, TLC and Scripps Networks Interactive, employs about 1,300 people in Silver Spring. While Discovery isn’t just up and leaving overnight, the company plans to close and sell its 10-story One Discovery Place location in 2019. The news came as a huge upset to the Greater Washington region. Discovery was founded in Maryland in 1985, and the company has called the state home since then. According to a release on Jan. 9, Discovery decided to relocate to New York City because of the proximity to production partners, business and investment opportunities.

  • Diverse Co-Working Space Lands to Maryland: A new co-working space is heading to Hyattsville, Md. Called The Dreamhouse, the space aims to be a hub for entrepreneurs and creatives from diverse backgrounds. More specifically, founder Eunique Jones Gibson hopes this becomes a hub for people of color who want to grow together and learn from one another. Gibson plans to open in early 2018, and she plans to build the space into more than an office space. In an interview with Blavity on Jan. 9, she said she forsees Sunday dinners, wellness experiences, book clubs, game nights and more.

  • WeWork’s New Coding School in D.C. Official Opens: In November, WeWork announced they would be expanding newly-acquired coding school Flatiron School to D.C. In early January, WeWork said the Flatiron D.C. campus would officially open in March at WeWork White House on G St. NW. The new D.C. location offers Flatiron’s 15-week software engineering immersive course, alongside night and weekend courses. The immersive course costs $1,000, with financing and scholarships available. Classes officially started on March 12.

  • ComScore Hires Goldman Sachs, Explores Possible Sale: Reston, Va.-based ComScore hired Goldman Sachs in January to review possible moves, including a sale, as it continues to recover from its financial distress. In February 2016, the audience measurement company began reviewing its own financial disclosures, only to find insufficient public disclosures about its performance. In early 2017, the company was delisted from the Nasdaq. Now, ComScore is reportedly starting to reach out to potential suitors — including buyout firms — for a sale. Of note, there is no formal sale process in place, meaning ComScore might not follow through on this plan.

  • Chicago Real Estate Startup Launched in D.C.: Chicago-based real estate startup Truss officially launched in the D.C. metro area, according to a press release on Jan. 30. Founded by a former cybersecurity entrepreneur, Truss helps small businesses find commercial real estate. In essence, Truss is a tech-enabled brokerage. The platform allows users to take 3-D tours of new spaces without leaving their offices/homes, ultimately speeding up the search process.

  • Snagajob Aims to be D.C.’s Next Great IPO: Arlington, Va.-based Snagajob plans to raise $30 million this year as the company strives to reach $100 million in revenue to prepare for its to-be-planned initial public offering. According to a WBJ report on Feb. 5, Snagajob already has $20 million committed, and it’s well on its way to bringing in that last $10 million. CEO Peter Harrison said it’s still possible for the company to exit by acquisition instead, but that’s not the default.

  • Cisco Completes Broadsoft Deal: Cisco’s plans to purchase Gaithersburg, Md.-based Broadsoft went through on Feb. 2. Cisco paid $55 per share for Broadsoft, totaling to a $1.9 billion cash purchase.

  • NYC-based ‘ClassPass for Kids’ Startup Expanded to D.C.: Two years after launching in New York City, KidPass expanded to the District. As of early February, the startup, which can be thought of as a “ClassPass for kids,” helps parents and caregivers find and book activities for children. D.C.-area partners include the Newseum, Gymboree, The British Swim School and more.

  • NextGen Venture Partners Acquired by Brown Advisory: Local venture capital firm NextGen Venture Partners was acquired by Brown Advisory on Feb. 12. All of NextGen’s founders joined Brown Advisory on Feb. 22, and key staff members, including principal Lisa Cuesta, associate Callum Booker and Director of Operations Corinne Smeriglio, are also joining Brown. NextGen had invested in plenty of local startups, including UrbanStems, Upskill and Avizia. When it first started, the firm was a network of angel investors. But in 2016, it reorganized into a more traditional VC firm.

  • WAMU Brings DCist Back to Life: In a joint deal with WAMU, WNYC in New York and KPCC in Los Angeles, the three public radio stations acquired DNAinfo and three of its sites, DCist, LAist and Gothamist. Under the deal, each local station owns its respective -Ist site. WAMU plans to re-launch DCist in the spring, and the station will hire three full-time journalists — emulating the same structure that DCist followed before its shutdown with one editor-in-chief, one associate editor and one staff writer. For those who don’t remember, the hyperlocal news site abruptly shutdown in November. WAMU now has full ownership of DCist’s story archive, the website and social media account. It’s unclear if the previous staff would want to step back into their respective roles. Rachel Sadon, former DCist editor-in-chief, is currently a producer at WAMU, and Washingtonian reports that Sadon is in talks to assume her former role.
  • Tenable Considering IPO: Columbia, Md.-based cybersecurity firm Tenable Network Security has reportedly hired investment bank Morgan Stanley to lead its initial public offering, Reuters reports. The IPO could come as soon as this fall, and sources told Reuters that the IPO could value the company between $1.5 billion and $2 billion.

  • New Maker Space to Open in NoVa: For everyone displaced by the closure of TechShop in Crystal City, the wait for a new maker space is over, based on reports on Feb. 26. The Garden, a maker space from the founders of Northern Virginia’s Building Momentum, is planning to set up shop in Alexandria, and it’s looking at a soft launch by May or June within 500 feet of a Metro station. Members will have access to a wood shop, metal shop, electronics workstation, 3-D printers and other equipment.

  • Philadelphia Real Estate Tech Startup Expanding to D.C.: Philadelphia-based Houwzer is raising $3 million to expand into the D.C. market, according to reports on March 28. CEO Mike Maher says the company, which dubs itself a tech-enabled real estate brokerage, already has most of those funds committed. And, in an effort to build a local userbase, Houwzer is paying homeowners $1,000 to list their houses with the company.

Did we miss anything? Hit me up at ssabin@americaninno.com.