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Interview with Fouad ElNaggar, Redpoint Ventures

socalTECH

Redpoint Ventures is one of the venture capital firms which has straddled both Northern California and Southern California, with offices in both locations. It would be interesting to hear about where your interests are nowdays, there was a rumor Redpoint had backed off activity here lately.

Redpoint Ventures Closes $400M Fund

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Venture capital fund Redpoint Ventures , which has an outpost in Los Angeles, has some new cash in the bank, after announcing $400M in a new fund today, Redpoint V. The firm--which has investments in such local companies as Gravity, Chill, Sonos, and Machinima--said the new fund will go towards early stage investing. The new fund follows Redpoint IV, which also was a $400M fund, which was raised three years ago. funding investment capital venture redpoint

Can The Next Big Tech Company Be Built In LA?

Tech Zulu Event

During Twiistup 8 a panel moderated by Jason Nazar (DocStoc) and joined by panelist David Travers (Rustic Canyon), Brian Norgard (Namesake), Fouad ElNaggar (Redpoint) and Demian Sellfors (Media Temple), spoke about if the next big tech company could be built in Los Angeles?

The Challenges (& Opportunities) of Starting a Tech Company in LA

Jason Nazar

I recently hosted a panel at the Twiistup Conference about LA tech companies. I have some pretty specific thoughts on the differences between companies in the two cities, as I wrote about in my previous post A Tale of Two Tech Cities.

Jaunt Finds $65M To Open VR Studio In Los Angeles

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The funding came from Burbank-based The Walt Disney Company, Evolution Media Partners--the investment joint venture which involves the CAA's Evolution Media Capital, TPG Growth and Participant Media--and Chine Media Capital (CMC), along with ProSiebenSat.1 SE, Axel Springer SE, The Madison Square Garden Company plus Google Ventures, Highland Capital, Redpoint Ventures, Sky and SV Angel.

Machinima Gets $24M, But Chops Staff

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along with Redpoint Ventures, MK Capital, Coffin Capital and Allen DeBevoise. However, the company also made some big cuts in its staff on Friday, following the funding round. The company has now raised nearly $100M in funding over its lifetime. Los Angeles-based YouTube network Machinima revealed last week that it has raised $24M in a funding round from Warner Bros.,

True(X) Media Finds $6M

socalTECH

The online advertising technology provider said the funding came from prior backers Jafco Ventures, Pinnacle Ventures, Norwest Venture Partners and Redpoint Ventures. The name change for SocialVibe is at least the fourth rebranding/renaming/refocusing of the company since inception, having swapped its name from Archetype Media to SocialVibe, then switching to become SVNetwork, then back to SocialVibe again in 2011. The company has now raised over $50.85M in funding since 2008.

BetterWorks Shutting Down On May 31st

socalTECH

According to an email from Craig, the company decided to close down the BettterWorks perk platform, and will not longer be active after next Thursday. BetterWorks--and Paige Craig--have been one of the companies driving the growth in Santa Monica's Silicon Beach. BetterWorks had raised $10M in funding from Redpoint Ventures.

HTML5 Games Company Goko Launches and Raises $8M in Series A Funding

Tech Zulu Event

Goko, a new HTML5 games company based in Redwood City California is set to help game developers easily distribute and monetize social games. Goko is backed by Redpoint Ventures and Aslop Louie Partners from whom it raised raised $8m in Series A funding.

2U Raises $120M In IPO

socalTECH

2U , an online education company which has significant operations in Los Angeles, has had a successful IPO on the NASDAQ Global Market, debuting Friday morning as TWOU. The company--which runs online degree programs for the University of Southern California (USC) and many other schools--had been backed by Redpoint Ventures, which funded the company out of its Los Angeles office. Those investments were led by former Redpoint VC Greg Martin.

USC 2

Machinima Raises $3.4M

socalTECH

Source of the new funds have not yet been announced by the company. Machinma is venture backed by Redpoint Ventures, MK Capital, and others. Los Angeles-based Machinima , which operates a video entertainment network for video gamers and develops associated animated content tools, has raised $3.4M as part of an ongoing, $5.0M fundraising round, according to a regulatory filing from the firm. READ MORE>>. machinima venture capital videogame video game fundraising fund

BetterWorks Gets $8M

socalTECH

According to the firm, the round was led by Redpoint Ventures, and will go towards hiring, expansion, and continued development of its platform. The round brings the company's total raised to $10M. As part of the funding, Redpoint's Satish Dharmaraj joins the company's board of directors. Los Angeles-based BetterWorks , the employee benefits platform provider headed by Paige Craig, announced today that it has raised $8M in a Series A funding round.

Southern California Startups Raise $761.12M in Q2 2014

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True Ventures and Redpoint Ventures both had 3 investments each. billion invested in companies across the nation, which PwC and the NVCA said was the highest level since Q4 of 2000. The latest venture capital totals from the PricewaterhouseCoopers/National Venture Capital Association''s MoneyTree Report was released this evening, tallying up $761.12M in investments in Q2 of 2014 in Southern California, up from Q2 of 2013, when $616.83M was invested in the region.

Los Angeles Startup Community

SoCal CTO

LA Tech Survival Guide A Tale of Two Tech Cities – Silicon Valley vs. Los Angeles Guide to the LA Startup Community Why You Should Start a Company in. Los Angeles LA Tech 101: The Company We Keep A Few Key People Really Can Make a Huge Difference The Challenges (& Opportunities) of Starting a Tech Company in LA Los Angeles Startup Networking Here are some guides to many of the different networking events around startups, technology, etc.:

The Coming Shift in Enterprise Software

Both Sides of the Table

In all my time investing I have never seen such a senior revenue officer join a company at this stage. To watch a young company win 1,000+ seat deals at Global 100 companies at this stage of development has been simply stunning.

Topspin Ties With MTV On Artists.MTV

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The companies said that Artists.MTV will be open to all levels of musicians, and will give musicians access to MTV, VH1, and CMT's audience of 600 plus million TV viewers and 60 million online viewers. Topspin, which is led by Ian Rogers, the former GM of Yahoo Music, is venture backed by Redpoint Ventures and The Foundry Group. Los Angeles-based Topspin and MTV said Thursday at SXSW that the two are in a new partnership, on a new initiative called Artists.MTV.

Interview with David Aronchick, Hark

socalTECH

Last week, we talked with Fouad ElNaggar of Redpoint Ventures about some of the interesting companies in Southern California. Hark is backed by Redpoint, and happens to be co-founded by Fouad. How is the company funded and backed? Was Fouad with Redpoint at the time?

Report: WebVisible Shuts Down

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The company has not yet confirmed the shutdown, however, founder and CEO Kristen Mangers had left the firm in January in 2011. WebVisible had raised over $37M in venture capital, from such investors as Adams Street Partners, Redpoint Ventures, and Sutter Hill Ventures. Irvine-based online advertising firm WebVisible has shut down, according to a report Wednesday. Former WebVisible employees had been telling socalTECH over the last few months that the firm was looking for a buyer.

Impact Radius Scores $6M

socalTECH

The round was led by Redpoint Ventures. As part of the funding, Redpoint's Greg Martin joins the company's board of directors. Tags: impact radius venture capital startup advertising performance executive redpoint Santa Barbara-based Impact Radius , a developer of multi-channel, performance advertising technology, announced today that it has raised $6M in a venture funding round.

Topspin Adds Discounts For Multiple Accounts

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Topspin said its new discounted accounts make it easier for labels, marketers, and other companies to get their clients on board its platform. Topspin is headed by former Yahoo Music GM Ian Rogers, and backed by Foundry Group and Redpoint Ventures.

Sonos: Our Time Is Now

socalTECH

In an email to the company''s supporters and fans, Sonos , the developer of the easy-to-use, wireless whole home music systems, said that the company is looking to bring its vision--to fill every home with music and make listening a valued experience again--to the world via its Super Bowl ad , which debuted Sunday during the big game. The company raised $135M from Kohlberg Kravis Roberts, Redpoint Ventures and Elevation Partners back in 2012.

Chill Adds Private Chat, Social Game Features

socalTECH

According to the company, it has launched new, private chat features, rich "hovercard" information on other users, and new social game features on the service.

Chill Gets $1.5M

socalTECH

The site--which was originally a project of Namesake--gained funding from Kleiner Perkins Caufield & Byers, Redpoint Ventures, Atlas Venture, Paul Kedrosky, and Michael Arrington of TechCrunch. The funding was reported first by TechCrunch, due to Michael Arrington's investment involvement in the company. Los Angeles-based Chill , the online video discussion website headed by Brian Norgard, has raised $1.5M in angel funding, according to the firm's angel investment backers.

Los Angeles Startup Community

SoCal CTO

LA Tech Survival Guide A Tale of Two Tech Cities – Silicon Valley vs. Los Angeles Guide to the LA Startup Community Why You Should Start a Company in. Los Angeles LA Tech 101: The Company We Keep A Few Key People Really Can Make a Huge Difference The Challenges (& Opportunities) of Starting a Tech Company in LA Los Angeles Startup Networking Here are some guides to many of the different networking events around startups, technology, etc.:

Machinima, Lionsgate Renew Deal

socalTECH

The companies said the first season of the series had 14 million views. The company is venture backed by MK Capital and Redpoint Ventures. Machinima , the online video entertainment firm focused on gamers, and studio Lionsgate , said today the two have renewed a deal around Machinima's zombie comedy series "Bite Me."

SocialVibe Names Tappin As New CEO

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Tappin was previously COO and CFO at the company. SocialVibe is venture backed by Norwest Venture Partners, Redpoint Ventures, Jafco Ventures and Pinnacle Ventures. Los Angeles-based SocialVibe , which provides online, social advertising to brands, said today that it has named Todd Tapping as its Chief Executive Officer.

SocialVibe Gets $20M More

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The funding was led by Norwest Venture Partners, and also included Redpoint Ventures, Jafco Ventures, and Pinacle Ventures. Jeff Crowe of Norwest Venture Partners joins the company's board as part of the funding. The company said the new funding will go towards growth efforts. Those offers are made through such companies as Pandora, Causes, Huffington Post and Zynga.

Mission Ventures' Lee Departs For Stealth Startup

socalTECH

Lee was involved in Mission's investments in SodaHead, Access 360 Media, and Active Storage, among other companies. Lee has previously served in associate and intern roles at Riordan, Lewis & Hayden and Redpoint Ventures, and prior to that was at Cisco Systems.

Los Angeles Venture Investors Get Their Mojo Back

socalTECH

Now, it looks like that day has finally come, as the thaw has come to locally backed companies, with a rash of exits--many of them backed by local investors. For several years, the phrase "Los Angeles Venture Capitalist" had almost become an oxymoron.

Study: $48 Billion In Value Created Over 15 Years In SoCal IT VC-Backed Firms

socalTECH

A new study of the financial outcomes for Southern California venture-backed companies in the IT sector finds that approximately $48 billion in value has been created by those companies over the period 1995-2009. The study, conducted by Jon Funk of OceanRoad Partners , includes data from socalTECH.com's proprietary venture database , Dow Jones/VentureSource, and Greg Martin of Redpoint Ventures.

Looking At LA's Technology Future with Derek Norton

socalTECH

Derek Norton is head of Los Angeles-based Watertower Group (www.watertowergroup.com), a firm which helps companies raise funding, one of the rare companies which has a track record and good reputation helping companies with fundraising, and also runs its own investment fund.

2tor Gets $10M Line Of Credit

socalTECH

2tor--which maintains an office in Los Angeles near USC--is venture backed by The Hillman Company, SVB Capital, WestRiver Capital, Bessemer Venture Partners, Highland Capital, Redpoint Ventures, Novak Biddle Venture Partners and City Light Capital. 2tor , the provider of online, graduate program and courses which has strong links to the University of Southern California , has scored a $10M revolving line of credit, the firm said today.

2tor Gets $26M More

socalTECH

The round was led by The Hillman Company, and also included SVB Capital, WestRiver Capital, Bessemer Venture Partners, Highland Capital, Redpoint Ventures, Novak Biddle Venture Partners and City Light Capital. Online higher education startup 2tor , which has offices in Los Angeles and a prominent deal with the University of Southern California, said this morning that it has raised $26M in a Series D funding round.

USC 9

United Online's Helfand Departs, Joins Auditude

socalTECH

According to Palo Alto-based Auditude this morning, Helfand has joined the company as CEO. Auditude develops technology to help companies monetize their online video. Auditude is venture backed by Granite Ventures, Silicon Valley Bank, Greylock Partners, and Redpoint Ventures; the appointment of Helfand came in conjunction with a new, $11M Series B funding round for Auditude.

Veteran LA law firm opens a Silicon Beach office and launches a pro-bono “Precelerator”

SoCal Delicious

Seventeen lawyer regional firm Stubbs Alderton & Markiles, LLP has represented digital media, internet, technology, consumer electronics, and entertainment companies and investment funds out of its Sherman Oaks office since its formation in 2002. Follow PandoDaily: Search. Main menu.

SRCH2's Plan to Arm The World With Enterprise Search Technology

socalTECH

SRCH2 (www.srch2.com) recently scored a round of funding from such notable investors as Data Collective, Brad Jones of Redpoint Ventures, Horizon Ventures, and TenOneTen Ventures, the new Southern California venture capital firm headed by Gil Elbaz and David Waxman.

What Mattered in 2010: Greg Martin, Archer Venture Capital

socalTECH

I left a great firm, Redpoint Ventures (after 11 years), to start a new firm, Archer Venture Capital. These companies have all experienced growth and we're expecting substantial value creation in 2011. The Groupon business model (now copied by nearly 1000 companies) was genius.

Tastemade, Jaunt Tap Ryan Seacrest, Conan O'Brien For Tour Through LA

socalTECH

The companies said the virtual reality experience was actually created in a partnership with LA24.org, the committee bidding to host the 2024 Olympic Games. Jaunt is venture backed by The Walt Disney Company, Evolution Media Partners, China Media Capital, Highland Capital Partners, Google Ventures, Redpoint Ventures, Axel Springer, ProSiebenSat.1 SE, The Madison Square Garden Company, Peter Gotcher, Blake Krikorian, and Sky.

Luxe Valet Raises $20M

socalTECH

The funding came from Redpoint and Venrock, and also included the company''s prior investors, including Google Ventures, Sherpa Ventures, Lightspeed Venture Partners, Foundation Capital, and Data Collective, according to the report. Luxe Valet , the on-demand valet parking app provider which launched into LA in January , has reportedly raised $20M in a new financing.

Sonos Funding Pays Off For Early Investors

socalTECH

Elevation Partners, and Redpoint Ventures. Sonos hasn't detailed the funding, but reportedly, $45M of the funds are going to the company as new capital, with the rest going to early investors to cash them out. When is a funding also an exit? When part of that funding is used to pay off early investors.