Today’s top stories: Team Europe gears up for launch of Submarine; Private Outlet secures second round funding; and Spickmich wins crucial court battle.

Team Europe to launch Submarine

Speculation around Team Europe Ventures new project is at fever pitch, with the Submarine website still offering few clues as to what the business model is going to be. As the Deutsche Startups blog reports in detail, the new company will be a 100 percent subsidiary of Team Europe Ventures, with TEV partner Daniel Offermann taking the managing director role. Exactly what Submarine is planning is hard to pin down but it looks likely to be a themed trade directory, with the emphasis on lead generation from highly optimised content.

Second round of financing for Private Outlet

Private Outlet, the „first private shopping club in Europe,“ has completed a second round of funding and secured €4.9 million of investment. This is in addition to the €7.3 million received in the first round in 2008, and comes despite the website struggling to really fly in what is an increasingly competitive segment. In 2009, it made a loss of €3.3 million on revenues of €9.7 million.

Spickmich wins legal dispute over the evaluation of teachers

The interactive student-platform Spickmich, where students can grade their teachers, has won a crucial court case against a teacher after years of legal wrangling. The court rejected the teacher’s claim that the online evaluation system was constitutionally unsound or infringed on the personal rights of individual teachers. This is a huge precedent and will send a message to teachers that if students have complaints, they may well end up online.