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Mindbody Moves Closer To IPO, Sets IPO Trading Range

socalTECH

Mindbody is selling 7,150,000 share of its stock in its IPO, which would net $123.3M for the company if its prices at the high range. Companies in the IPO process will set an IPO trading range around the same time as they are on their institutional road show, to test interest from investors, before the actual pricing of the IPO.

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Green Dot: Tight Credit Driving New Customers

socalTECH

Pasadena-based Green Dot , the provider of prepaid credit cards which recently debuted on the markets, reported its quarterly earnings Thursday, saying that the tight financing environment continues to drive new customers to the company. The firm said it had net income of $4.6M in net income on operating revenues of $62.9M

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Interview with Cliff Rees, XCast Labs

socalTECH

Los Angeles-based XCast Labs (www.xcastlabs.com) announced earlier this month that it has raised a $2.7M round of funding from the Pasadena Angels and Frontera Capital for a voice-over-IP service, and we thought we'd talk with Cliff Rees, the firm's CEO, to understand how the firm is different from those many providers.

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