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Venture Net 2008 Winners

Technology Council

13 of the hottest early stage technology companies in Southern California joined us yesterday for the 13th Annual Venture Net. Presenting companies included: • [.]

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Venture Net 2008 Photos

Technology Council

Feedback on this year’s Venture Net has been great. Thanks once again to Venture Net’s sponsors, [.] The event was sold out - almost 500 people in total! Scott Fox and an audience volunteer pick winners for the door prizes. Thanks, Ben!

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Napster Acquired By Best Buy

socalTECH

Financial details of the deal were not disclosed by the companies. Los Angeles-based Napster was acquired by Best Buy in September of 2008 in a deal which was worth net value of approximately $54M. According to the two, the deal is expected to close on or around November 30th. READ MORE>>.

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On Funding?—?Shots on Goal

Both Sides of the Table

What we discuss internally and what I discuss with my LPs is outlined as follows: We back 36–38 Series Seed / Series A companies per fund (we have a separate Growth Fund) Our median first check is $3.5 the sale of the company for $1 billion. You need shots on goal as not every one will go in the back of the net.

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ReachLocal Files For IPO

socalTECH

Morgan, BofA Merrill Lynch, citi, Piper Jaffray, Needham & Company, and Broadpoint.Gleacher. Accoriding to ReachLocal, it had net income of $11.6M For 2008, the firm had a net loss of almost $7M on revenues of $146.68M. The firm's IPO is being underwritten by J.P.

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NewEgg Files For IPO

socalTECH

Morgan, BofA Merrill Lynch, Citi, William Blair & Company, Cowen and Company, ThinkEquityLLC, Needham & Company, and Raymond James. billion and net income of $28.8M City of Industry-based e-commerce retailer NewEgg has filed for an IPO this morning, saying that it is looking to raise up to $175M.

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MaxLinear Files For IPO

socalTECH

UBS Securities LLC, Thomas Weisel Partners LLC and Needham & Company, LLC. in the nine months ending September 30th, and had a net loss of $1.9M in fiscal 2008. The IPO is being underwritten by Morgan Stanley & Co. Incorporated, Deutsche Bank Securities Inc., According to the filing, the firm earned $2.4M

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