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Grubhub acquires payments and loyalty company LevelUp for $390M

Grubhub announced this morning that it’s agreed to acquire LevelUp for $390 million cash. Founder and CEO Matt Maloney told me that while previous Grubhub acquisitions like Eat24 were designed to give the company’s delivery business more scale, “This is kind of a different acquisition. It’s a product and strategic positioning acquisition.” LevelUp is based in Boston and offers a platform to manage digital ordering, payments and loyalty. Maloney said that buying the company allows Grubhub to deepen its integration with restaurants’ point-of-sale systems. That, in turn, will allow them to handle more deliveries. At the same time, Maloney said LevelUp can help Grubhub build a restaurant platform that goes beyond delivery, for example by managing their customer interactions across mobile and the web. “We want to help restaurants actively engage with their diners,” Maloney said. “This is a huge step in that direction.” Once the regulatory waiting period is over, the entire team LevelUp team will be joining Grubhub, with founder and CEO Seth Priebatsch reporting to Maloney — who said that in the short term, he plans to change very little, aside from the POS integrations. Even in the long term, he suggested that LevelUp could continue to operate as its own brand within the larger Grubhub platform. “They’re doing something really well and we don’t want to screw that up,” he said. “We want to make as little change as possible, until we all understand how we’re better working together.” The LevelUp platform was launched in 2011, and the company has raised around $108 million in total funding, according to Crunchbase. Investors include Highland Capital, GV, Balderton Capital, Deutsche Telecom Strategic Investments, Continental Advisors, Transmedia Capital and U.S. Boston Capital.

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Data breach exposes trade secrets of carmakers GM, Ford, Tesla, Toyota

Security researcher UpGuard Cyber Risk disclosed Friday that sensitive documents from more than 100 manufacturing companies, including GM, Fiat Chrysler, Ford, Tesla, Toyota, ThyssenKrupp, and VW were exposed on a publicly accessible server belonging to  Level One Robotics. The exposure via Level One Robotics, which provides industrial automation services, came through rsync, a common file transfer protocol that’s used to backup large data sets, according to UpGuard Cyber Risk. The data breach was first reported by the New York Times . According to the security researchers, restrictions weren’t placed on the rsync server. This means that any rsync client that connected to the rsync port had access to download this data. UpGuard Cyber Risk published its account of how it discovered the data breach to show how a company within a supply chain can affect large companies with seemingly tight security protocols. This means if someone knew where to look they could access trade secrets closely protected by automakers. It’s unclear if any nefarious actors actually got their hands on the data. At least one source at an affected automaker told TechCrunch it doesn’t not appear that sensitive or proprietary data was exposed. UpGuard’s big takeaway in all of this: rsync instances should be restricted by IP address. The researchers also suggest that user access to rsync be set up so that clients have to authenticate before receiving the dataset. Without these measures, rsync is publicly accessible, the researchers said

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