Mon.Feb 29, 2016

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Confessions Of A VC: Crap – Why I Passed On Uber’s Seed Round

InfoChachkie

A version of this article previously appeared on Entrepreneur.com. Did I passed on Uber’s seed round? No. It’s worse than that. I never even bothered to listen to Travis’ pitch, even though I was repeatedly offered the opportunity. I then passed on Uber’s A Round as well, which I thought was valued too high, in light of the company’s progress. Too bad, as the initial funding round has increased over 4,000 times in value, making a $250,000 investment worth more than $1,100,000,000.

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Tritech Software Buys The Omega Group From Trimble

socalTECH

San Diego-based Tritech Software , a developer of software for the law enforcement, public safety, fire, and emergency medical services (EMS) industries, has acquired The Omega Group , a developer of cloud-based mapping and analytics software for the market. The Omega Group was owned by mapping and GPS software developer Trimble. Financial terms of the acquisition were not announced.

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7 Startup Strategies To Gain From Your Limitations

Startup Professionals Musings

As Clint Eastwood once said, “A man’s got to know his limitations.” Every new entrepreneur soon realizes he or she has some big ones, but very few figure out how to use these them to their advantage. I believe that the resourcefulness to turn constraints into competitive differentiators and new opportunities is a trait that separates the great entrepreneurs from the “wannabes.

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Machinima Pays NYAG $50,000 Over Undisclosed Endorsements

socalTECH

Los Angeles-based Machinima has paid a penalty of $50,000, in a settlement with the New York Attorney General, over the use of paid, undisclosed endorsements on its gaming content network. According to New York Attorney General Eric T. Schneiderman, earlier this month, Machinima paid gaming expert influencers to endorse Microsoft's Xbox One, paying two of those endorsers $15,000 and $30,000 for producing YouTube videos, and another larger group of influencers a total of $25,000 for views on vide

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Can You Ask for Office Rent Relief? How to Manage Your Lease During COVID-19

Office leases are one of companies’ largest expenses, and if your whole team is working from home with no clear end in sight, you may be wondering what to do about your lease.

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Black Box Tech Can Only Help Young Drivers

Tech Zulu Event

“Black boxes” were originally devices that are installed in airplanes to record two things: sound in the aircraft, and aircraft computer data. This information is generally extracted in the instance of a plane crash in order for pilots to try to figure out what exactly happened. Now, the technology is being installed in most new automobiles in order to track driving, which would help people lower their insurance costs exponentially.

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OpTerra Energy Opens Office In San Diego

socalTECH

OpTerra Energy , an energy services companies owned by French utility services operator ENGIE, said it has opened up a new office in Solana Beach, to address sustainability needs in the region. OpTerra says it helps private- and public-sector facilities with reducing energy consumption and energy usage, including in the K-12, higher education, local government, and commercial and industrial customers.

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Redfin Takes Tech-Centric Real Estate To Santa Barbara

socalTECH

Redfin , a tech-centric real estate brokerage firm based out of Seattle, said late last week that it has expanded into Santa Barbara and parts of Ventura County, bringing its website and mobile app into the Santa Barbara and surrounding areas. Redfin employs real estate agents who are paid based on client satisfaction rather than commission, and is centered around iOS, Android apps, and a website, all geared towards clients more comfortable with technology than people.

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MNX Global Logistics Acquires 3PL Aero Express

socalTECH

Irvine-based MNX Global Logistics , a provider of transportation and logistics services, said this morning that it has acquired 3PL Aero Express , a logistics provider in Singapore that serves the aviation and aerospace sector. Financial terms of the acquisition were not disclosed. MNX said that 3PL Aero Express Logistics (AEL) serves the specialized aviation and aerospace sector, and uses Singapore as its maintenance, repair, and overhaul hub.

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ZENEDGE Launches Web Application Firewall

socalTECH

Los Angeles-based ZENEDGE , a startup developing cloud-based web application firewall and cybersecurity products, said it has launched a product called ZENEDGE AI. According to ZENEDGE, its new product is a web application firewall, which uses artificial intelligence, machine learning, and big data to protect web application for vulnerabilities. The company says its products are an alternative to current, signature-based approaches to application security.

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CrowdStrike Launches Partner Program, Hires Bizdev VP

socalTECH

Irvine-based cybersecurity software developer CrowdStrike said this morning that it has launched a brand new partner program, and hired a new VP to head up business development. CrowdStrike said its new Elevate Partner Program is aimed at offering up information and technology to technology partners, solution providers, system integrators and managed service providers.

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Snapchat Hit By Phishing Attack, Employees Compromised

socalTECH

Venice, California-based Snapchat said over the weekend that a number of its employees have had their identities compromised, after one of its employees feel for a phishing scam, and revealed payroll information about a number of its employees. According to Snapchat, the phishing came from an email phishing scam last Friday, where someone impersonated the company's CEO, Evan Spiegel, asking for some payroll information.

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