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COVID-19 Shifts Business Expenses, Says Report

socalTECH

A new analysis, by Los Angeles-based expense management software developer Emburse , shows that reimbursed employee expenses have shifted significantly in the wake of the COVID-19 pandemic. Acording to the report, spending on food delivery services grew by 110% annually, with DoorDash representing 36% of expenses submitted, with 25.1%

Report 113
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CrowdStrike Gets Tops Ratings In Gartner Report

socalTECH

CrowdStrike , the developer of cloud-based, endpoint protection software which was started and continues to have major operations in Irvine, has scored a top rating in a report from industry analyst Gartner. READ MORE>>.

Report 147
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Reflections On 2019: Peter Cowen, Sutton Capital Partners

socalTECH

Are there any technology innovations, gadgets/devices, software, that you found most interesting in 2019? Valuations have continued to soar from early stage through later stage at an unsustainable rate, driven by large amounts of available capital, notably the increased presence of seed funds and PE firms in software.

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Ford, Rivian Abandon Plans For Joint EV

socalTECH

According to reports, the move came due to the difficulty of marrying Ford and Rivian's hardware and software together. Ford made a $500M investment in Rivian in 2019. In a small post-IPO setback for Irvine-based Rivian, automaker Ford said Friday that Ford and Rivian have abandoned plans to jointly develop an EV together.

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Smith Micro Buys Business From Circle Media Labs

socalTECH

Aliso Viejo-based Smith Micro Software says it has acquired the operator business of Circle Media Labs , a developer of parental control software. in cash, and included customer contracts and a perpetual software license. The company says it the operator business is expected to report 2019 revenues of $4M.

Media 113
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Viant Files For IPO

socalTECH

Irvine-based Viant Technology, a developer of advertising software, has filed for an IPO, saying in a filing with the SEC that it is looking to raise up to $150M in an IPO on the Nasdaq Global Market as DSP. The company reported $9.9M in net income on $164M in revenues for the year ended December 31, 2019.

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Veritone Picks Up $6.5M In PPP Loans

socalTECH

Costa Mesa-based artificial intelligence software developer Veritone --which is publicly traded on the NASDAQ as VERI--reported that it has received a total of $6.5M Veritone has over 300 employees and had 2019 net revenues of $49.6M. in loans under the Paycheck Protection Program (PPP).