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Why Saying “No” is Hard for Angels

Ask the Angels

In an earlier post I mentioned that 1-1.5% of all applications submitted to the Pasadena Angels get funded. Tags: Fundraising General Bill Burnham Business Week Joe Platnick Pasadena Angels A few years ago, Joe Torre (when still managing the Yankees) wrote an article for Business Week ( Joe Torre on Winning ) that’s well worth reading.

Angel Funding Advice

Both Sides of the Table

Most Venture Capital “A&# rounds (as of 2009) seem to start around $3 million pre-money and may go as high as $5-6 million pre-money if you’ve made a lot more progress or for some other reason the deal is “hot&#. This is part of my ongoing series Pitching a VC. How: 1. Jarl Mohn says he hates seeing PowerPoint.  I get that.

Another Big Exit For Local Angels With Mindbody?

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Local angel investors--including the Tech Coast Angels and Pasadena Angels --might just have another big hit on their hands, with the news today that San Luis Obispo-based Mindbody has filed for an IPO. mindbody angel investors tech coast pasadena frontera siemerREAD MORE>>.

William H. Pickering Lecture at AIAA Space 2009

SoCal Tech Calendar

Wednesday, September 16, 2009 -- William H. Pickering Lecture at AIAA Space 2009. William H. Pickering Lecture honors the International Year of Astronomy and the Hubble Space Telescope, Spitzer Space Telescope, and Galaxy Evolution Explorer missions. The lecture is named for former NASA Jet Propulsion Laboratory Director William H.

LA County Technology Week

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Shameless Self-Promotion Alert]…The last program of the day is the annual Pasadena Angels program on the state of Angel and Venture Capital in Southern California. Tags: Fundraising General Ben Kuo Joe Platnick LA County Tech Week Pasadena Angels SocalTECH.com.

Startup Challenges and Failures

Ask the Angels

Tags: Company Creation/Operation Fundraising General Jason Calcanis Joe Platnick Pasadena Angels Sequoia

eHarmony Launches Gay and Lesbian Web Site

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Pasadena-based eHarmony has launched a gay and lesbian web site, Compatible Partners , which the firm says will help gay and lesbian singles to find long-term relationships. eHarmony said that pricing for Compatible Partners will be the same as eHarmony.com. The firm had previously refused to accept gay members to its flagship site.

eSolar Unveils Lancaster Plant

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Pasadena-based solar thermal technology developer eSolar has unveiled a Lancaster solar power plant this morning, saying that the firm's 24,000 mirror, 5-megawatt plant will provide electricity for more than 4,000 homes in the Antelope Valley. READ MORE>>.

Central Desktop Sees Growth, Boosts Hires In 2009

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Pasadena-based software-as-a-service developer Central Desktop reported today that the firm had 44 percent, year-over-year growth, and boosted its staff by 50 percent in 2009, as a result of demand for the firm's online project collaboration tools. The firm said its customers now include such companies as Netflix, U.S. READ MORE>>.

LeisureLink Raises $3.5M

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Pasadena-based LeisureLink , which operates an online marketplace and service for vacation rental booking, has raised $3.5M in a funding round.

X1 Takes On eDiscovery

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X1 said it has built a solution, based on its X1 enterprise search technology and professional services, called X1 eDiscovery Search Suite.

Java Subversion

SoCal Tech Calendar

Monday, January 26, 2009 -- Pasadena Java User's Group. Topic: subversion. See [link] (more

X1 Technologies Finds Asian Distributor

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X1 said that Shepard will represent the firm's Enterprise Search Solutions in Singapore and elsewhere in South Asia. The firm is backed by Idealab.

Presentation Tips and How Not to Introduce Yourself to Investors

Ask the Angels

Although as a Lakers fan I don’t have a very favorable opinion of Mr. Cuban, this article provides a good example and analysis of a an email received from an entrepreneur that will eliminate any chances of getting funding and is very similar to the 4-6 emails received each week by the Pasadena Angels.

X1 Technologies Updates Software

socalTECH

Among the updates is a new release of its X1 Profesisonal Client software, and a new versino of its connector to the Symantec Enterprise Vault product.

To the moon (part 2)

Eric Greenspan

After the concert, we walked two miles to our car in Old Town Pasadena.  We stopped and had a midnight pizza at a great little spot on the way.  Also in attendance was my ex and our 12 year old son Jacob.  Anyhow, so he and his mom are at U2, the wife and I are there but sitting pretty far back.  Then Slash walks onto the stage. 

How to Select an Angel Group

Ask the Angels

Last summer, Jason McDowall wrote a guest post about his own personal experiences raising angel capital (not from the Pasadena Angels) and some of the challenges that followed. recently re-read Jason’s post from June ‘08 and thought it would be a good lead-in to evaluating an Angel organization and the process of finding ‘smart money.’ 

Avoiding the “Hammer Looking for a Nail” in Tech Transfer

Ask the Angels

Today’s post is from Dr. Andrea Belz, a long-time member of the Pasadena Angels, a local consultant and one of the brightest people I know (a CalTech PhD–what more can you say).  From time to time we have posts from local members of the startup community that provide some great advice from a different perspective.

An Angel Investor’s Thoughts on Valuation

Ask the Angels

Bob is a Director and long-time member of the Pasadena Angels, has been investing in early stage companies for 5 years, and has been held numerous “C” level positions at private and publicly traded companies. Following on the heals of last week’s post from Andrea Belz, we have another guest blogger, Bob Aholt. Now for some details. 

We’re Asking the Wrong Questions

Ask the Angels

I recently reviewed a set of investment ready criteria published by a respected Angel Group (not the Pasadena Angels). All the usual factors were there–what problem was being sold, the extent of competitive advantage, the experience of the management team, size of market, etc.  Only then can we deal with the other criteria.

Do They Charge Fees?

Ask the Angels

Since starting in 2000, the Pasadena Angels has never charged companies fees for anything short of closing (applying, presenting, mentoring, etc.) Part III of a Continuing Series on How to Select an Angel Group. Imagine going to a VC or bank and receiving a bill for a few thousand dollars for your first meeting.

Beware of the Money Changers

Ask the Angels

In last week’s post I talked about how to evaluate an angel group with my Letterman Top 10 list. Today’s headline covers #2 of that list (Do they actually have capital and a track record of investing their own personal funds) and is from a story I’ve told at several entrepreneurial events.

Cogent Systems Gets FBI Cert

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Pasadena-based Cogent Systems , a developer of fingerprint readers and other biometric identification equipment, announced this morning that its handheld, mobile identification devices have been certified compliant with a FBI effort. The certification covers its Cogent Fusion, Mobile Ident II, and Mobile Ident III products.

Energy Innovations Gets Win In UAE

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Pasadena-based Energy Innovations , a developer of concentrating solar modules, has scored a win in Abu Dhabi, United Arab Emirates, the firm announced Friday morning. Financial terms and impact of the deal, and extent of the install in the city, was not disclosed by Energy Innovations. READ MORE>>.

LeisureLink: Revenues Double Over Last Year

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Pasadena-based LeisureLink , which operates a service to help distribute specialty lodging listings to travel sites, reported today that the firm has more than doubled its revenues from last year. ABetterStay offers an online vacation booking site for bed and breakfasts, condos, vacation rentals, timeshares, and other specialty lodging.

Central Desktop Adds Greathouse To Board

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Pasadena-based Central Desktop , which operates an online team project management service, said today that it has added John Greathouse to the firm's board of directors. Privately held Central Desktop's software-as-a-service offers project management and other web-centric, collaboration tools for teams. READ MORE>>.

NPA LA Holiday Mixer

SoCal Tech Calendar

Monday, December 14, 2009 -- Network Professional Association LA Chapter Holiday Mixer @ Mijare's Mexican Restaurant, 145 Palmetto Dr Pasadena CA 91105. IT Professionals to discuss re-org. and potential of LA Chapter. See [link] (more

eSolar In Deal For New Mexico Power Plant

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Pasadena-based eSolar , the solar thermal energy technology backed by Idealab, has inked a deal to develop a 92 megawatt, concentrating solar power plant in southern New Mexico. Financial impact of the deal was not disclosed. El Paso Electric will purchase the power via a power purchase agreement arrangement. READ MORE>>.

Yahoo Deal With Microsoft May Hit Overture

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The move may have a huge impact of Yahoo's staff and operations in Pasadena and elsewhere in Southern California: Microsoft and Yahoo said that instead of using Yahoo's own paid search services, they will instead fulfill self-serve advertising through Microsoft's AdCenter, which has been a direct competitor to what was Overture Services.

MyShape Confirms Funding

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The firm said the round was led by DFJ Growth Fund, and also included Draper Fisher Jurvetson, Tenaya Capital, the Pasadena Angels, and the Tech Coast Angels. Amount of the funding round was not disclosed, although a regulatory filing last week placed the round target at $12.1M. Schuler is the former Chairman and CEO of American Online.

Docufide In Michigan Win

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The firm is backed by the Pasadena Angels, Tech Coast Angels, and other angel investors. Los Angeles-based Docufide , which develops systems for electronic transfer of school transcripts between high schools and colleges, said this week that it has inked a deal with the Center for Educational Performance and Information (CEPI). READ MORE>>.

LeisureLink Signs Travel Site

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LeisureLink said that PerfectFamilyVacations will feature more than 1000 of the firm's properties on its site. READ MORE>>.

LeisureLink Wins Casino

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According to the firm, the Reno casino will distribute its resort rooms through LeisureLink's ABetterStay.com network. READ MORE>>.

Interview with Eric Hovanec and Steve Reich, LeisureLink

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Yesterday, Pasadena-based LeisureLink (www.leisurelink.com) announced a $6.2M funding round for the firm's travel booking service. We caught up with Eric Hovanec, the firm's CEO, and Steve Reich, the firm's SVP of Sales, to hear more about the funding. For those who haven't seen LeisureLink before, explain how your service works?

Teresis Adds To Board

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Teresis is angel backed by the Tech Coast Angels and Pasadena Angels. READ MORE>>.

LeisureLink Gains Distributor

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Financial details of the deal were not disclosed. GTP Travel Group automated group booking of travel, including hotels and buses. READ MORE>>.

LeisureLink Claims Customer Success

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According to LeisureLink, Kees is using the firm's booking system on a network of web sites for 22 resorts that it manages. READ MORE>>.

LeisureLink Further Expands Distribution Partners

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Financial details on the deals were not disclosed. READ MORE>>.

LeisureLink Signs Vast.com

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Pasadena-based LeisureLink is reporting today that it has partnered with vertical search provider Vast.com. READ MORE>>.

LeisureLink Ties With Kayak, NexTag

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Details of the partnerships were not disclosed by the company. READ MORE>>.