Mon.Jan 08, 2018

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Silicon Beach Report Jan. 8: GoPro layoffs, Grindr founder leaving, new lights for Ring’s smart doorbells

L.A. Business Journal

GoPro announced layoffs and cost-cutting as the camera and software company exits the drone business; video doorbell maker Ring has acquired light maker Mr. Beams; and the founder of dating app Grindr is stepping down following the company’s acquisition by a Hong Kong-based mobile gaming company.

Layoffs 170
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SpaceX Sends Secret Zuma Payload Into Space Successfully

socalTECH

Hawthorne-based SpaceX successfully sent another payload into space on Sunday evening, putting a super-secret, U.S. government payload named "Zuma" into orbit from Cape Canaveral Air Force Station. SpaceX launched the payload into space at 5:00 p.m. PST, and shortly after the launch, landed the first stage of the Falcon 9 rocket used in the launch in Florida.

SpaceX 124
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Kunlun Group Limited Completes Acquisition of Grindr

L.A. Business Journal

Hong Kong-based mobile gaming company Kunlun Group Limited has closed on its purchase of the remaining stake of Grindr LLC, a gay men’s dating app located in West Hollywood’s Pacific Design Center, the companies announced Monday.

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Ring Buys Mr. Beams To Power New Security Lighting Line

socalTECH

Santa Monica-based Ring said Monday that it has acquired Mr. Beams , a developer of LED lighting technology. Financial details of the acquisition were not announced. Ring said it will use the acquisition to power its new Ring Beams product line, a line of security lights that communicate with Ring devices. Ring said the new products include spotlights, pathway lights, and deck lights, will be available in mid-2018.

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Can You Ask for Office Rent Relief? How to Manage Your Lease During COVID-19

Office leases are one of companies’ largest expenses, and if your whole team is working from home with no clear end in sight, you may be wondering what to do about your lease.

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Pontifax AgTech Leads $9.5 Million Round in Biostimulant Producer Inocucor Corp.

L.A. Business Journal

Santa Monica’s Pontifax AgTech led the second closing of a $9.5 million Series B round in Denver agricultural technology company Inocucor Corp., the companies announced Jan. 8.

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LA Dodgers, R/GA Launch New Sports Venture Effort

socalTECH

The Los Angeles Dodgers , along with partner R/GA , said on Monday morning that they are launching a brand new, sports venture effort called the Global Sports Venture Studio. According to the two, the effort will focus on startup sourcing, engagement opportunities, and investment, and is based on the prior Dodgers Accelerator programs with R/GA. The new effort--unliked the prior Dodgers Accelerator--will shift to a "rolling" model rather than a class-based, accelerator, and will also feature a c

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Axonics Gets Marketing Nod In Australia

socalTECH

Irvine-based Axonics Modulation Technologies , which develops an implantable device used for treatment of overactive bladder, urinary retention, and fecal incontinence, has received approval to market its system in Australia. Axonics said the approval came from the Australian Department of Health, Therapeutic Goods Administration (TGA). Axonics is venture backed by Gilde Healthcare, CICA, Cormorant Asset Management, Edmond de Rothschild Investment Partners, Advent Life Sciences, Legend Capital,

Marketing 113
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10 Step Checklist To Rank Your Startup Ideas

InfoChachkie

A version of this article first appeared in Forbes. Steven Johnson, author of How We Got To Now , analyzes technological breakthroughs, looking for patterns that allow entrepreneurs to identify “How We’ll Get To Tomorrow.” One of the key myths that he destroys is that of the lone inventor who experiences a Eureka moment. Slow Hunches Lead To Breakthroughs.

Ideas 69
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Impact Biomedicines Acquired By Celgene For Up To $2.35 Billion

socalTECH

San Diego-based Impact Biomedicines , a developer of treatments for myelofibrosis and polycythemia vera, has been acquired by Celgene Corporation , in a deal worth up to $2.35 billion. According to Celgene, it will pay approximately $1.1 billion upfront, and up to $1.25 billion in contingent payments, based on regulatory approval milestones for Impact Biomedicines' Fedratinib compound.

San Diego 113
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Venture Activity Comes to (Unicorn) Point in 2017, and Top 10 Deals

Xconomy

In China, 2017 was the year of the rooster. But in the United States, it was the year of the unicorn—at least according to the Venture Monitor report released today by Seattle-based PitchBook and the National Venture Capital Association. A record number of unicorn financings—venture-backed companies valued at $1 billion or more—helped drive U.S. venture funding to a total of $84.2 billion in 8,035 companies (through 8,076 deals) in 2017, according to Venture Monitor data.

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Ring Sued By Skybell Technologies Over Patents

socalTECH

Santa Monica-based video doorbell developer Ring has been sued by a competitor, Skybell Technologies , in the California Central Court, for patent infringement. According to Skybell, Ring violated three of its patents covering dorbell communicaftions systems and methods. The patents are U.S. Patents No 9,055,202; 9,179,109; and 9,179,107. The lawsuit is case No. 8:18-cv-00014, Skybell Technologies, Inc. v.

Patents 113
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8 Ways New Ventures Burn Resources Without Thinking

Startup Professionals Musings

Every entrepreneur I know is short on resources, including time, money, and skills. The last thing they can afford is to waste any of these, but in my mentoring and coaching activities, I see it happening all too often. Waste in a startup is any activity that spends resources, but creates no value or competitive advantage in the eyes of customers. Much has been written about this subject in the world of manufacturing, stemming primarily from the 1990’s work by Taiichi Ohno, called the Toyota Pro

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Neural Analytics Gets $15M More For Brain Assessment Device

socalTECH

Los Angeles-based Neural Analytics , a developer of portable ultrasound equiment used to assess such brain injuries as concussions, has raised $15M in a Series B funding round. The funding was led by Alpha Edison. Neural Analytics develops medical devices which use Doppler ultrasound to assess a brain's blood vessels from outside thebody. The non-invasive advice has already been cleared by the FDA.