Sat.Jan 21, 2017 - Fri.Jan 27, 2017

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You name the price; I’ll name the terms.

Berkonomics

I admit that my dad taught me this when I was just a fifteen–year old kid starting a business and negotiating with suppliers for the first time. But I learned it again and again in my various business lives. The most striking example was the one hundred–million–dollar purchase of one of my companies by a New York private equity investor using only five million of its cash.

Pricing 215
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Core Innovation Capital Announces $100M In Second Venture Capital Fund

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Los Angeles-based fintech investor Core Innovation Capital announced this morning that it has closed its second fund, which is at $100M so far. As part of the funding, the company said it has just made an investment in Fundera, a New York company which provides a service to help small business owners shop and compare personalized credit recommendations.

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Silicon Beach Report Jan. 25: Ring Raises $109 Million, Eyes IPO

L.A. Business Journal

Ring raises $109 million and eyes initial public offering, Elon Musk endorses former ExxonMobil Chief Tillerson for Sec. of State, and 3-D car part printer Divergent raises $23 million.

Report 147
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30 Under 30: Los Angeles

SoCal Tech Calendar

Tuesday, January 31, 2017 -- 30 Under 30: Los Angeles. Another year of Forbes 30 Under 30, and another group of awesome LA founders getting global attention. We're celebrating and highlighting some of the recent selections with an evening event at Cross Campus Santa Monica. We'll host a panel of recent 30 Under 30 winners who will share what it takes to rise above the noise, and offer tips for chasing this particular honor.

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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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AnaptysBio Adds More Shares, Raises $75M in Stock Market Debut

Xconomy

AnaptysBio is the first U.S. biotech company to go public this year, raising $75 million in an IPO intended to finance development of antibody-based drugs for inflammatory disorders. The San Diego-based company sold 5 million shares at $15 apiece—in line with the $14 to $16 per share range it set earlier this month—and is now trading on the Nasdaq under the symbol “ANAB.

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Virtualitics Raises $3M For AR/VR/AI Startup

socalTECH

Pasadena-based Virtualitics , a new startup which provides data visualization in virtual reality (VR) and augmented reality (AR) environments, and says it uses machine learning and artificial intelligence, has raised $3M in a seed funding round. The funding came from un-named angel investors. Virtualics said its software is used to provide insights into "big and complex" data.

More Trending

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8 Success Drivers Define A Lifestyle Entrepreneur

Startup Professionals Musings

Until the recession a few years ago, market research indicated that as many as 90 percent of the roughly 20 million American small business owners were motivated more by lifestyle than growth and money. More recently, the desire for extra income has become the key driver in new startups, according to a 2015 study. It seems that more people are focused on money today.

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Anthem Caps Coverage Of Biogen Spine Drug Despite Wide FDA Approval

Xconomy

One of the nation’s major health insurers has placed limitations on access to the first-ever approved drug for the rare spinal muscular atrophy, validating patient fears that the high price tag of the drug, nusinersen (Spinraza), might make it hard for some with the disease to get treatment. Indianapolis-based Anthem (NYSE: ANTM ) has disclosed its coverage policy for nusinersen, the SMA drug from Biogen (NASDAQ: BIIB ) and Ionis Pharmaceuticals (NASDAQ: IONS ).

Anthem 70
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Report: Snap IPO To Be Fourth Biggest IPO In 10 Years

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A new analysis of the IPOs from the last ten years, from Geckoboard, says that--if successful--the IPO of Venice, California-based Snap, Inc. will be the fourth largest IPO in the last 10 years, behind Alibaba, Facebook, and JD.com, and ahead of Twitter, VMware, and Renren. Geckoboard said it compared the 100 highest-valued tech companies that went public in the last decade to Snap's rumored IPO valuation.

Venice 122
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Hyperloop Transportation Technologies Plans French Research Center

L.A. Business Journal

Hyperloop Transportation Technologies announced plans today to open a research and development center in Toulouse, France.

Research 130
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8 Ways to Cure the Procrastination Habit in Business

Startup Professionals Musings

If you are a chronic procrastinator, or your work partner is one, there is never enough advance notice to get things done without a crisis. You can’t get things done on time unless you get started on time. Otherwise, your business and your career suffers, and you may never even see it coming. Luckily, this is a malady that can be cured if you are willing to make a few adjustments.

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Inspired by NFL Teammate, Aethlon Seeks Diagnostic for Brain Injuries

Xconomy

Just as the NFL marketing machine is stoking the build-up to Super Bowl LI, a San Diego diagnostic company headed by a former Denver Broncos player has unveiled plans for a new clinical study of traumatic brain injuries among retired NFL players. Exosome Sciences, a subsidiary of San Diego’s Aethlon Medical (NASDAQ: AEMD ), said today it is supporting research that could validate a potential biomarker for the type of neurodegenerative disease that shadows many football players as they grow older

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Divergent 3D Gets $23M For Automotive 3D Printing Technology

socalTECH

Los Angeles-based Divergent3D ,a developer of technology, hardware, and software specifically aimed at 3D printing for automotive manufacturers, said this morning that it has raised $23M in a Series A funding round. The funding was led by Horizons Ventures, and also included automotive and aerospace engineering provider Altran. The company said the funding will go towards its platform, which it says uses 3D printing to cut the time to market and costs of automotive manufacturing.

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Silicon Beach Report Jan. 24: Hyperloop Transportation Technologies Plans French Research Center

L.A. Business Journal

Hyperloop Transportation Technologies plans French research center, Warner Bros. Interactive to develop Disney’s “Cars 3” game, and Faraday Future hit with another lawsuit for unpaid bills.

Research 110
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Every New Business Needs A Unique Selling Proposition

Startup Professionals Musings

Every startup and every new business needs a unique selling proposition (USP) to get people’s attention these days, and make it stand out in the information overload we all see. Your concept has to be understood by customers and investors in 30 seconds or less, and everyone needs to immediately see how awesome it would be, or that they would be nuts not to have it.

Startup 58
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Report: Biotech VCs Perpetuate Boardroom Gender Gap

Xconomy

If power in the business world is centered in the boardroom, women in biotech have a long way to go to get their fair share—and the venture community deserves much of the blame. That’s according to British recruitment firm Liftstream and its new study of biotech companies that went public in the recent boom years. In the mega-class of 177 biotechs that went public from 2012 through 2015, women held 11 percent of the board seats, according to their 2016 regulatory filings.

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Stubbs Alderton Precellerator Aims At Strategic Investments With Peter Csathy

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Stubbs, Alderton & Markiles LLP , the business, technology and digital media law firm which runs a startup incubator and accelerator called the Precellerator , announced on Tuesday that it has started an effort to make strategic investments in a larger group of digital media and technology companies. As part of the effort, the firm said it has added longtime media veteran Peter Csathy to its board, and to lead its investment strategy.

Invest 121
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Silicon Beach Report Jan. 27: About 30 Percent of Brand Accounts on Snapchat Are Dormant

L.A. Business Journal

About 30 percent of brand accounts on Snapchat are dormant, Virtualitics raises $3M to Visualize data in VR and AR, and SpaceX runs Hyperloop contest this weekend.

Snapchat 110
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8 Keys To Developing A High-Trust Business Culture

Startup Professionals Musings

Establishing and maintaining the right company culture is a major key to success in any business these days, especially with the growth of the millennial generation of workers. It has a huge impact on productivity, as well as morale and loyalty to the company. In this age of interactive social media, your culture image quickly spreads to customers, and determines their loyalty.

Develop 58
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Jounce Gets $102M As Biotech IPOs Gain Steam in ’17

Xconomy

Jounce Therapeutics has gone ahead of its projections and raised roughly $102 million in an IPO, continuing an early, yet successful trend for biotechs trying to go public in 2017. The Cambridge, MA, company sold close to 6,365,000 shares at $16 apiece, almost 1 million more shares than it proposed to sell a few weeks ago. Jounce also priced above the $13 to $15 per share range it had set.

Pricing 63
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OfferPad Plans Launch In Los Angeles After $260M Funding

socalTECH

OfferPad , a startup which operates an online service which provides instant home buying offers to homeowners, is planning to launch its service in Los Angeles, after raising $260M funding. OfferPad, which is based in Arizona, said the funding came from LL Funds LLC. The funding is split between $30M in equity and $230M in debt. OfferPad lets homeowners enter their address and gives them an offer on the house, buying homes directly from homeowners.

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Snap Inc. IPO Could Come in March

L.A. Business Journal

Snap Inc. intends to publicly file for an IPO next week, according to Recode, putting it on track for a March offering.

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7 Rules for Providing Exceptional Customer Service

Startup Professionals Musings

Customer service has traditionally been a support function to respond to customer initiated requests, meaning someone waits for the phone to ring or for a website support request form. Today’s customers definition of service is the sum total of their “experience,” covering all aspects of their relationship, including the shopping and buying process, as well as ongoing assistance.

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Ex-FDA Commish Califf Gives Props to Patient Groups—With Caveats

Xconomy

The nation’s former Food and Drug Administration commissioner Robert Califf, appearing for the first time since he resigned last week, told a Silicon Valley crowd this morning that the FDA will have to be flexible in coming years, allowing greater patient input into drug evaluation and leaning on outside watchdogs for help weeding out “imposters.” Califf’s brief appearance at a precision medicine conference near San Francisco comes as regulation across industries is in th

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STARZ Rolls Out Amazon Fire TV App

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Beverly Hills-based entertainment company STARZ , which is part of Lionsgate, said on Thursday afternoon that it has launched a new app on Amazon Fire TV. STARZ said its STARZ App gives users access to all of its original series, plus movies and first run films, on Amazon Fire TV and Fire TV Stick. The app requires an existing subscription to STARZ for accessing that content.

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Silicon Beach Report Jan. 26: Jeffrey Katzenberg Raises Nearly $600M for New Fund

L.A. Business Journal

Jeffrey Katzenberg raises nearly $600 million for new fund, Cedars-Sinai names new accelerator class, and Hulu to debut virtual reality show.

Hulu 113
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TrueCar Names New Sales VP

socalTECH

Santa Monica-based TrueCar announced on Wednesday that it has promoted David Green to Senior Vice President of Major Accounts, within the company's Dealer Sales and Service Team. Green has been at TrueCar since 2015. Green previously served at Sonic Automotive and Showcase Honda in Phoenix. TrueCar said Green will oversee the company's dealer-client portfolio and also work with non-traditional enterprise clients.

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Cynvenio Inks Distribution Deal In Mexico

socalTECH

Westlake Village-based Cynvenio Biosystems , which develops diagnostic blood tests for cancer diagnostics, said it has signed a deal to distribute its tets in Mexico with Milenia Labs. The company said the deal covers distribution of its ClearID Breast Cancer testing product in Mexico. Cynvenio's ClearID Breast Cancer is designed for patients undergoing treatment for advanced breast cancer and those who require follow-up testing at regular intervals after completion of therapy, according to the

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VRMedia Takes Aim At Virtual Reality Software, Hardware

socalTECH

Los Angeles- and Austin-based VRMedia Technology said on yesterday that it has launched, as a joint venture between MC Capital Advisors/Media Content Capital, and virtual reality and computer graphics filmmaker Greg Passmore , and his company, PassmoreVR. According to the company, it is developing high-performance software and hardware for creating, processing and playing superior-quality virtual reality content for entertainment, commercial and industrial settings such as film festivals, school

Software 116
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Hyperloop Transportation Technologies Opening Facility In France

socalTECH

Los Angeles-based Hyperloop Transportation Technologies , one of the two companies in Los Angeles working on advancing Elon Musk's Hyperloop concept for rapid transportation between cities through essentially giant pneumatic tubes, says it is opening up a 3,000-square meter facility in Toulouse, France. The new facility will be at the Francazal Airport, a former military based in Toulouse.

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Western Digital Names New CTO

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Irvine-based Western Digital announced this morning that it has named Martin Fink as its new Chief Technology Officer. Fink was most recently CTO and director of HP Labs at Hewlett Packard Enterprise. He had spent 30 years at HP and HPE. Fink replaces Steven Campbell, who Western Digital said will be departing the company to "pursue other opportunities".

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Evite Moves Headquarters To Downtown LA

socalTECH

Los Angeles-based online invitations service Evite says it has moved its headquarters to downtown Los Angeles, doubling the size of its corporate office. The company, which previously had its headquarters in West Hollywood, said the move goes to accomodate rapid growth at the company. Evite is part of Liberty Interactive. The company says it has moved to a new office in the 600 Wilshire building.

Evite 113
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Cedars-Sinai Accelerator Names New Startup Class

socalTECH

The Cedars-Sinai Accelerator Powered by Techstars has announced the next class of startups to join the healthcare accelerator, saying this morning that it has added eight startups to what will be the second class for the program. The new startups include Cerebro Solutions , ENSO , FIGS , Frame Health , HealthcareTTU , HealthTensor , Noteworth , and ReferralMD.

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Ring Rounds Up $109M In New Funding

socalTECH

Los Angeles-based Ring , the developer of connected doorbells, security cameras, and other similar devices, has raised $109M in a big financing round, to help fund global growth. The funding came from DFJ Growth, Goldman Sachs Investment Partners and Qualcomm Ventures, plus Sir Richard Branson, American Family Insurance, Shea Ventures and True Ventures, and others.

Funding 112
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AnaptysBio Up Slightly In IPO

socalTECH

San Diego-based AnaptysBio , which develops antibodies for treating inflammation, has raised $75.0M in its IPO, and closed up slightly in its first day of trading on Thursday. Anaptys priced its IPO on Wednesday night at $15.00 per share, at the midpoint of its $14.00 to $16.00 estimated IPO range, and closed the day at $17.00 per share. AnaptysBio is backed by Frazier Healthcare, Novo A/S, Avalon Ventures, Alloy Ventures, Biotechnology Value Fund, HBM Healthcare Investments, and others.

Avalon 110
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Report: Keysight Technologies Planning Offer On Ixia

socalTECH

Calabasas-based network testing equipment and software developer Ixia is nearing a deal to be acquired by competitor Keysight Technologies , according to Reuters this week, citing "people familiar with the matter." Terms of the potential bid were not announced, and the report says that Keysight Technologies is not the only bidder on Ixia. Ixia's testing hardware and software is used by network equipment manufacturers, network operators, and others for testing, design, network deployment, and oth

Report 110