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Move Networks Confirms It Is Looking For A Buyer, Lays Off Staff

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Irvine-based Move Networks , the streaming video technology firm, confirmed Wednesday evening that it is looking for "strategic alternatives", including a possible sale of the firm. Tags: move networks merger acquisition strategic alternative video streaming technology software. READ MORE>>.

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Passenger Gets Win With NYSE Euronext

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Los Angeles-based Passenger , which develops online communities for brands, said Thursday that the firm is powering a new private online community for NYSE Euronext (NYX). Passenger is venture backed by Shelter Capital Partners, StarVest Partners, and Steamboat Ventures. Financial impact of the win was not disclosed.

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Sometrics Raises Series B

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Los Angeles-based Sometrics , which develops analytics software for gaming applications, said Friday morning that it has raised a Series B round of financing. The investment was led by Steamboat Ventures, and also included prior investors Mail Room Fund and Greycroft Partners. READ MORE>>.

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Why The Growth Of The Internet Is Driving EdgeCast's Revenues

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What is it about the content delivery network market which has enabled Santa Monica-based EdgeCast to go from startup to over $100M in revenues in only a few, short years? We serve up four to five percent of the global Internet on our network. We're privately funded today, with some equity from Menlo Ventures and Steamboat Ventures.

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Venture Conference Highlights SoCal Startups

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David Sacks, one of the co-founders of PayPal, pitched Geni.com, an online site focused on both family trees and social networking. The "best of show" prize went to Magnify360, which develops software for optimizing content and web sites for specific users.

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This Week in Venture Capital – Episode 4

Both Sides of the Table

The investment will be used for product development initiatives. Investors: Lightspeed Venture Partners (Jeremy Liew) (lead), with existing investors Polaris Venture Partners, Crosscut Ventures. Marketing and lead automation software for businesses; claim to have largest market share in sector since March 2008.