In: Start Ups

The ex-CFO of bust Powa Technologies claims management were ‘breathtakingly immature and bipolar’
March 6, 2016

The former chief financial officer of failed London tech unicorn Powa Technologies claims “management were the worst I've seen in over 30 years” and claims that the CEO “parked his Bentley in the disabled spot.”

Steven Prowse, who was acting CFO of Powa for three months in 2014, writes in a blog post published on LinkedIn last Friday that accounting practices at Powa were lax when he arrived, with corporate payments requiring only one signature. He also accuses executives of being “breathtakingly immature and bipolar.”

Deloitte, the administrators that now speak and act for Powa, declined to comment. CEO and founder Dan Wagner could not be reached for comment.

There is no suggestion of any wrongdoing or rule-breaking at Powa. But Prowse's blog post on LinkedIn paints a chaotic picture of upper management at the company, which collapsed into administration last month. Powa was once valued at $2.7 billion and raised at least $220 million from 2013 onwards.

Prowse writes: “T..

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How Richard Branson gets fresh water on his private island
March 6, 2016

Having your own private island is not just about the beautiful views, the privacy, and living the good life.

It's also about some of the more practical things, like figuring out the best way to get water and energy on the island.

Sir Richard Branson's Necker Island, which also functions as an exclusive resort, is part of the British Virgin Islands, but it is quite independent when it comes to producing the energy and fresh water that the island uses.

We spoke to Chief Engineer Adam Simmonds, who showed us how he and his team convert the salt water of the Caribbean Sea into as much as 65,000 gallons of usable water a day.

Originally published in October 2012.

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Startup bank Mondo raised a crazy £1 million in just 96 seconds in its crowdfunding campaign
March 6, 2016

App-only bank Mondo has raised £1 million in just 96 seconds, days after investor demand for the bank crashed crowdfunding website Crowdcube,

Mondo had to “pause” the launch of its crowdfunding campaign on Monday after demand from punters looking to buy shares in the company crashed Crowdcube's platform. Mondo had notified 44,000 people that its campaign was going live.

Crowdcube beefed up its technical chops in response and the campaign went live at 1 p.m. Thursday, selling out in record time.

1 minute, 36 seconds – the fastest @Crowdcube round ever! Thank you everyone ?
— Mondo (@getmondo) March 3, 2016

Crowdcube co-founder Luke Lang tweeted:

That is the fastest equity raise ever! Not just on @Crowdcube. Congrats 🙂 https://t.co/g1OQ0Bvznh
— Luke Lang (@lukelang) March 3, 2016

Mondo CEO and co-founder Tom Blomfield told Business Insider: “I'd love to thank all the people who invested for such a huge vote of confidence. Thousands of people have helped us sha..

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23andMe CEO Anne Wojcicki has a secret talent that she uses to drive her kids crazy
March 6, 2016

Anne Wojcicki is well-known in the tech industry for a lot of reasons.

She's cofounder and CEO of genetics testing company 23andMe, a restaurateur (Bumble is her kid-friendly cafe in Los Altos, California). She's the sister of YouTube CEO Susan Wojcicki and ex-wife of Google founder Sergey Brin.

But one thing you probably didn't know about her was that she has a hidden talent that she discovered in high school.

She's “good at making bird calls,” she confessed on a YouTube video called Inside the Grind.

It's not exactly a super power but it is extremely useful for driving her kids crazy, she says with a laugh.

She's not kidding about this talent. She demonstrated a few bird calls in the video.

SEE ALSO: A famous IBM employee took her baby to an IBM conference and had to deal with a smart aleck

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NOW WATCH: This woman is getting famous for building hilariously terrible robots

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This new ‘Six Flags’ ride may be the most mind-bending amusement park attraction yet
March 6, 2016

Six Flags created a new roller coaster called “The New Revolution” that requires riders to wear virtual reality glasses as they barrel down 3,500 feet of track.

Produced by Zach Wasser. Video courtesy of AP and Six Flags Entertainment.

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How Startup Valuation Works
March 6, 2016

How would you measure the value of a company? Especially, a company that you started a month ago – how do…

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Biggest Obstacle in Becoming an Entrepreneur Is You
March 6, 2016

What if I told you that the number-one thing standing in your way to launching and / or expanding your business was something…

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