socalTECH
SEPTEMBER 27, 2016
LeisureLink , the developer of vacation rental booking software which was started in Pasadena, has shut down all of its operations, and laid off all of its staff. In a letter to partners, LeisureLink said all employees of LeisureLink are being terminated and the platform turned off, after its management was unable to raise additional equity to fund the company.
L.A. Business Journal
SEPTEMBER 27, 2016
SpaceX’s Elon Musk reveals Mars mission plans, Jukin Media adds marketing division, Peter Guber and investors buys e-sports team.
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socalTECH
SEPTEMBER 27, 2016
Location-based information service Foursquare said on Monday that it has opened up its first office in Los Angeles, in Playa Vista. According to Foursquare, the new office will help it meet explosion in demand, in part due to local local automotive, entertainment, CPG and QSR customers. The company said that Lindsay Aston, Matt Bontaites and Karen Lurry will lead the new office.
Xconomy
SEPTEMBER 27, 2016
[ Note: The headline has been corrected to better describe the company’s type of funding. 9/27/16, 2:09 p.m. ] Fortis Therapeutics, a new San Diego biotech, has raised $18 million in initial funding to develop drugs for hard-to-treat prostate and bone marrow cancers. San Diego’s Avalon Ventures led the Series A round, and has established Fortis at COI Pharma, the firm’s biotech incubator (which now houses 16 life sciences startups).
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socalTECH
SEPTEMBER 27, 2016
Redland-based GIS software developer Esri said on Monday that it has been selected by Microsoft , to offer up its GIS services for Microsoft Power BI and Microsoft Azure. Esri said its ArcGIS platform will be integrated into Microsoft's Power BI (Business Intelligence), a set of business analytics tools. Esri will also offer up its ArcGIS Pro desktop application via Microsoft Azure.
socalTECH
SEPTEMBER 27, 2016
Los Angeles-based Jukin Media said today that it has launched a new division, which will specifically aim at helping brands with their advertising and content marketing campaigns. Jukin said the new division--called "Ethos"-will use its technology and expertise in user generated content (UGC), to help brands and agencies to target, source, and clear user-generated video for content marketing and creative advertising campaigns.
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socalTECH
SEPTEMBER 27, 2016
San Diego-based ecoATM has appointed David D. Maquera as its CEO, after the completion of the company's acquisition by private equity investor Apollo Global Management. Apollo paid approximately $1.6 billion for ecoAtM's parent company, Outerwall , which it is splitting back into three separate companies--Redbox, Coinstar, and ecoATM. David Maquera had been serving as President of Outerwall's ecoATM business, which allows consumers to turn in their old cell phones for cash payments. ecoATM says
socalTECH
SEPTEMBER 27, 2016
San Diego-based audio technology developer Turtle Beach said Monday that it is restructuring its HyperSound business, in a bid to lower the operating costs of that business. As part of that restructuring, the company said that investment banker Piper Jaffray is contiuing "exploration of strategic options"for that business. Turtle Beach said it has taken actions to "significantly reduce" its operating expenses of that business.
socalTECH
SEPTEMBER 27, 2016
Carlsbad-based Obalon Therapeutics , which is developing a balloon-based medical device for assisting in weight loss, has set the estimated initial IPO pricing range for its public offering, saying it now expects an initial public offering at between $14.00 and $16.00 per share. The company is selling 5,000,000 shares of its common stock, which would net it $92.0M if it prices at the high end of its estimated range.
socalTECH
SEPTEMBER 27, 2016
Oceanside-based HireAHelper , which operates an online, peer-to-peer marketplace for finding labor to help you move, has launched a new website focused on moving costs. The company said it has launched the Moving Cost Calculator , a new website which lets users get estimates of moving expenses from service providers from across the industry. The new site collects information such as distance of the move, size of the move, and preferred moving style, and helps provide price estimates from moving
socalTECH
SEPTEMBER 27, 2016
Ming Hsieh , the founder of Fulgent Genomics , former founder of Cogent, and namesake of the University of Southern California's Mind Hsieh Department of Electrical Engineering --looks to be having two big events in the next month; a possible IPO of Fulgent Genomics on the NASDAQ Global Market on Wednesday, and the ten year anniversary of the naming of USC's EE department after him.
socalTECH
SEPTEMBER 27, 2016
Tech mogul Elon Musk is unveiling his plans for interplanetary colonization, starting with Mars, at a conference today, saying he is looking to make humans an "interplanetary species". SpaceX unveiled a video envisioning a system that will give humans access to the entire solar systems, involving the use of inflight refueling of spaceships in orbit, and interplanetary refueling stations.
socalTECH
SEPTEMBER 27, 2016
The California Life Sciences Association (CLSA), a group which focuses on public policy and business leadership in the life sciences area, said today that it has launched what it calls a new "Life Sciences Innovation Hub" in Los Angeles. According to the company, its new Los Angeles satellite office will be located in Monrovia, and will go to help its work in Los Angeles County, providing political advocacy, special industry events, and professional development for the life sciences sector.
socalTECH
SEPTEMBER 27, 2016
San Diego-based Fortis Therapeutics , a new biotech company in the immuno-oncology area, announced this morning that it has raised $18M in a Series A funding. The funding was led by Avalon Ventures and also included Bregua Corporation, Lilly Asia Ventures, Osage University Partners, and Vivo Capital. The startup, based in the COI Pharmaceuticals cluster of companies in San Diego, is based on research developed by Bin Liu, Ph.D., a professor in the Department of Anesthesia at UC San Francisco.
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