Best Buy Wants To Highlight Startups In Store & Online

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By Kavita Kumar, Star Tribune

“Start-ups: Best Buy wants to sell your products — stat. Not only that, the largest electronics retailer in the U.S. wants to make it easier for entrepreneurs and early-stage companies to get their products loaded onto its website and into customers’ hands. Some of those gadgets could possibly end up in stores, too.”

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Best Buy Set to be First Mainstream Test for VR Products

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Via AdAge

“Best Buy Chief Executive Officer Hubert Joly was sold on virtual reality after he was almost eaten by a shark in an experience he called “mind-boggling.”

Now he’s betting the masses will be enthralled with the technology too. In what’s seen as the first mainstream test of VR products, Best Buy began rolling out demonstrations for Facebook’s Oculus Rift headsets in May and will have them in 500 stores for the holiday-shopping season. The chain also is running 200 demos for Sony’s PlayStation VR, which will be released in October, that rotate between locations.”

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Best Buy Grows US Ecommerce ~24% In Second Consecutive Quarter

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Screen Shot 2016-08-22 at 1.23.33 PMBy Krystina Gustafson, CNBC

“It wasn’t long ago that Amazon was considered to be the death knell for Best Buy’s business. That’s no longer the case. The bricks-and-mortar electronics chain on Tuesday said its U.S. online sales grew 23.7 percent during its fiscal second quarter, marking the second straight quarter of nearly 24 percent growth.”

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HAX Hardware Accelerator Is Coming To Town

Hax-Boost-AcceleratorHAX, which considers itself to be “the world’s largest and first hardware accelarator,” is coming to Minneapolis next week.

On Monday, the group will be hosting an open door event in conjunction with Best Buy, followed by a similiar venue on Tuesday in downtown Minneapolis with Target.

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CFO Departure Is Just One Reason Why Best Buy Is Getting Rocked: Best Buy Has An Apple Problem

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Via The Street

“…Best Buy has an Apple problem,” said Cramer, who owns Apple and Target in his Action Alerts PLUS portfolio. “There’s a goal, but they kept their full-year. And the [iPhone 7], which comes out at the end, I think they’ll do very well. But Best Buy is a company that, like Target, this is an area that’s very challenged, this electronics and home area. But I do think that you’re going to want to buy Best Buy as we get closer to the end of the year.”

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Best Buy Appoints New Geek Squad Lead Patricia Walker

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By Nick Halter, Minneapolis-St. Paul Business Journal

Best Buy Co. Inc. has found a new president of services, an executive role that includes oversight of the company’s Geek Squad.  The Richfield retailer quietly named [Patricia] Trish Walker, a 27-year veteran of Accenture (NYSE: ACN), to the post. Walker started in April and Best Buy (NYSE; BBY) only announced the hire internally.”

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Best Buy Intensifies STEM Reinvestment

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Via News Release

“MINNEAPOLIS — In the next 10 years, 77 percent of all jobs will require technology skills.1 Yet despite incredible advances in technology to help us connect and interact, more and more young people are being left behind.2

Best Buy is intensifying efforts this year to confront the nation’s growing technology gap through expanded programs and partnerships that help underserved young people develop the skills for a tech-reliant future.”

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The Dire Straits Of Publicly Traded Tech In Minnesota [Part 1]

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WTFYou’ll hear a lot about the ‘Fortune 500’ in Minnesota wherever you go, but aside from #72 Best Buy (which has “turned around” by losing 6 billion dollars in value since 2010) there are are no actual tech companies on that current list of 17 headquartered here.

Looking beyond that roster for our state’s top tech firms — the true  leaders, the anchors of industry, the globally competitive — what do we have here?

In seeking answers to the above, an alarming trend has surfaced around the class of publicly traded tech firms in Minnesota:

The picture is not just a changing landscape, it’s rapidly a disappearing one.

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