Opportunity Knocks - WM Net Briefs
Working on a Web commerce startup but haven’t secured the funding yet? American Express would like to help – if you have something to offer in return, of course. AmEx recently announced that it’s establishing a $100 million fund to focus on early-stage startups that can assist the credit card company’s emerging Web and mobile initiatives. AmEx is looking for young companies working on payment methods, geo-location solutions, daily deals sites, loyalty programs, analytics, security and more. The chosen ones will receive a minority stake and become partners with American Express in exchange for their innovations and technologies, and the fund will be spread out over years and operated out of AmEx’s new Palo Alto office. Not only is it a golden opportunity for Web entrepreneurs, but also a savvy move by a 162-year-old company that appears determined not to fall behind the times.