Marketplace for Friday June 13, 2014
The extremist group that recently seized control of Mosul in Iraq is reported to have bagged $429 million from banks in the oil-trading city. ISIS also levies “taxes” on people in the areas it controls. We look at how ISIS functions as a financial entity, where it get its money, and what the group spends it on? Plus, Priceline is becoming even more of an all-services booking agent as it acquires Open Table. First innovators like Priceline undermined their competition - travel agents - and now their platforms are expanding to simply take their place. What other company has followed this model? In the case of Open Table, Priceline is getting not just a new business - restaurant reservations - but also Open Table’s customer base and platform. Also, a U.S. crackdown on online poker sites chased Full Tilt out of business. Now Full Tilt and associated poker sites may get back into the U.S. by being bought by a Canadian company.