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This Week in Germany Written by Felicitas Hackmann on 28. October 2016

Jimdo lays off 25 per cent of its staff

Known as the Hamburg startup success story, Jimdo, which offers a website-building tool box, started small, grew and just last year, raised €25 million (27.3 million USD). That is why Wednesday’s announcement, that 25 per cent of the staff will leave the company, came as quite a surprise. A 25 per cent cut amounts to 70 of the 258-people team. The idea behind the cut is for the company to become more efficient and innovative with a smaller team.
[Gründerszene] (German)

Payment App Cookies files for bankruptcy

The peer-to-peer payment app Cookies, that launched two months ago with hype, announced a sudden end on Wednesday. The company’s big promises last year convinced investors, such as StudiVZ founder Ehssan Dariani and Holzbrinck Digital, to participate in a €1.5 million strong Seed Round. Co-founder Lamine Cheloufi said the reason for the company’s hasty exit is his former co-founder’s behaviour, which made a bridge investment impossible.
[Gründerszene] (German), [Cookie’s blog] (German)

Humly files for bankruptcy

Berlin-based anti-depression startup humly launched six months ago and announced it will file for bankruptcy. The reason? Humbly is a very complex product that took a lot of money and man power and had a very hard time gaining traction. The startup wanted to charge €9 monthly for a personal consulting plan and online courses. They also planned to charge €49 if doctors would join via chats.
[Gründerszene] (German)

Move24 closes Series B round

Berlin-based Move24, previously known as Movago, closed a €13 million (14.2 million USD) strong Series B round. Existing investors Holtzbrink Ventures, DN Capital and Cherry Ventures led the round and new investor Innogy, part of energy giant RWE, participated as well. The startup is currently active in 10 markets and employs 300 people.
[Gründerszene] (German)

Gigmit receives investment

Berlin-based Gigmit received an investment from Sony Music Entertainment Germany. Gigmit claims to be Europe’s largest live booking platform that connects different parties, i.e. musicians and event organizers. While the size of the investment remained undisclosed, the commercial register shows Sony Music Entertainment Germany received 15 per cent of the company’s shares.
[Gründerszene] (German)

FairmedOnline acquires Caremondo

In August, medical tourism platform Caremondo filed for bankruptcy after an investment round failed to take place. Now, Singapore-based FairMed Online acquired the startup. The founders and all 25 employees are set to leave Caremondo. Details about price remained undisclosed.
[Gründerszene] (German)

Gameforge lays off 90 people

Based in Karlsruhe, Gameforge announced they will lay off 90 of their 450 employees due to a company restructuring. The 90 employees all belonged to the mobile games department. The restructuring is underway because the company and especially the mobile games department have not been as successful as planned.
[Games Wirtschaft]

21sportsgroup receives €15 million loan

21sportsgroup, a Mannheim-based online shop for sport articles, received a €15 million (16.3 million USD) loan from London-based ESO Capital. The loan will be used to acquire additional companies and invest in growth. In May of this year, 21sportsgroup reported raising a 2-digit million euro amount.
[Gründerszene] (German)

Image: Some rights reserved by Georgie Pauwels