Wed.May 11, 2016

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Crosscut Ventures Backs Blockchain Startup

socalTECH

Los Angeles-based venture investor Crosscut Ventures is one of the backers of a new startup, Fluent , developing blockchain technology for the financial markets. According to Fluent, which is based in Lexington, Kentucky, it raised $1.65M in a seed funding which came from Digital Currency Group, Crosscut Ventures, Draper Associates, Fenbushi Capital, Lindberg Tech Fund and the St.

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5 Principles That Drive The New Market For Sharing

Startup Professionals Musings

The pervasive ability and need to communicate constantly and globally through the Internet and smartphones is incenting everyone to get more out of their own assets and time, and capitalize on the idle resources of others. This new sharing economy is rapidly becoming the new business of sharing, with major winners already including Airbnb (rooms), Uber (rides), and Chegg (books).

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CSM Software Acquired By SOLIZE

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CSM Software , and engineering and high tech services outsourcer whose founder and chairman is based in Westlake Village, has been acquired by Japanese company SOLIZE Group , acording to the companies. Financial details of the acquisition were not disclosed. CSM Group was founded in 1992, and had major operations in Bangalore, India, although its Founder and Chairman, Dr.

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GrubHub Acquires LAbite For $65M

socalTECH

Los Angeles-based restaurant delivery service LAbite was acquired last week by GrubHub , in a deal reportedly worth $65M. LAbite had been founded in 2001, and said it has 2,087 Southern California restaurants it services, with hundreds of local drivers delivering meals for the service. READ MORE>>.

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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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Green Charge Networks Acquired By ENGIE

socalTECH

Green Charge Networks , a battery storage technology developer with offices in San Diego, has been majority acquired by energy giant ENGIE (formerly GDF Suez), the two said yesterday. Financial details of the acquisition were not announced by the companies. Green Charge's battery storage systems were deployed in the commercial, industrial, and public sector areas.

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uBeam Gets Unwelcome Focus From Technology Doubters

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Los Angeles-based wireless power charging startup uBeam --which says it has been working on wireless phone chargers that use sound waves to transmit energy--is the focus of technology doubters , who say the company's products are a sham, according to reports. According to TechCrunch, the accusations come from the company's former of VP of Engineering. uBeam has previously raised funding from Upfront Ventures, Founders Fund, Andreessen Horowitz, CrunchFund, and Ludlow Ventures.

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Aira Expands Board Of Directors

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San Diego-based Aira , the startup which is developing assistive technology for the blind, has named venture investor Scott Minick as its Executive Chairman, the company said Tuesday. Minick is currently Venture Partner at ARCH Venture Partners. ARCH is one of the company's venture backers. Aira also said it has expanded its technical board advisors, adding Oscar Salazar, a co-founder of Uber, and Troy Otillio to help the firm with its efforts.

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OneRoof Energy Loses CFO

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San Diego-based solar services provider OneRoof Energy says that its CFO, Dan Halvorson, has resigned. According to the company, Halvorson has resigned to "pursue other opportunities". The company said it has appointed John Bunnel as its interim Chief Financial officer, while it conducts a search for a permanent CFO. Bunnel is President and CFO of Fractional CFO, and has served as interim CFO for a number of companies, including Stearns Lending, American Advisors Group and First Financial Credit

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Amgen Teams With Joe Montana On Heart Health Outreach

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Thousand Oaks-based biotech giant Amgen said this morning that it has launched a new campaign to encourage heart-healthy exercise and cycling with Joe Montana and his wife, Jennifer. According to Amgen, it has launched a new effort called Breakaway from Heart Disease , which will encourage Americans to get active through cycling and learn more about their family history of heart disease.

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SpaceX Dragon Departs ISS This Morning

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The latest mission launched by Hawthorne-based SpaceX --the NASA CRS-8 mission to resupply the International Space Station--is getting set to return to earth this morning, as the SpaceX Dragon separates from the ISS and returns to earth. NASA is streaming the departure live this morning starting at 9 a.m. EDT. The Dragon is expected to separate from the ISS at 9:18, and splash down in the Pacific Ocean around 2:55 p.m.

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