Thu.Dec 13, 2018

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Apple plans major US expansion including a new $1 billion campus in Austin

TechCrunch LA

Apple has announced a major expansion that will see it open a new campus in North Austin and open new offices in Seattle, San Diego and Los Angeles as it bids to increase its workforce in the U.S. The firm said it intends also to significantly expand its presence in Pittsburgh, New York and Boulder, Colorado over the next three years. The Austin campus alone will cost the company $1 billion, but Apple said that the 133-acre space will generate an initial 5,000 jobs across a broad range of roles

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Apple to Employ 1,000 at New Culver City Office

L.A. Business Journal

Apple Inc. plans to employ 1,000 people in a new office in Culver City, the Cupertino, Calif.-based tech giant announced today.

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Lyft is becoming a one-stop transportation app in these 3 cities

TechCrunch LA

Lyft is turning its app into a one-stop multimodal transportation app in a few U.S. cities, the latest illustration of its transformation from ridesharing startup to a company that wants to own, or at least be a part of, every way people move from Point A to Point B, whether it’s cars, bikes, scooters or even public transit. This new version of Lyft’s app, which allows users to request a shared car, find a scooter or bike, as well as see nearby public transit options, is only availab

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Virgin Galactic Returns To Space In Fourth Test Flight

socalTECH

Mojave-based Virgin Galactic , the spaceflight and space tourism company founded by Sir Richard Branson, has returned to space , after its fourth test flight on Thursday. According to Virgin Galactic, the SpaceShipTwo VSS Unity landed successfully after reaching 51.4 miles above the earth, reaching speeds of three times the speed of sound above Mojave.

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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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Can a revolutionary concept be too late to market?

Berkonomics

Too many startup businesses, especially in the technology world, are built upon brand new concepts that have not yet been proven in the field against products from other companies that already have revenues flowing. As a rule, creating a product that does not fit into an existing space, cannot be defined against one or more competitors, or which needs a long description to understand, will require considerably more market research, more marketing capital, and entail much more risk than one that

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Vyng Picks Up $4M For Video Ringtones

socalTECH

Venice, California-based startup Vyng , which develops software which turns calls from friends into cute "video ringtones" that show up on your lock screen when a friend calls, has raised $4M in a funding round, the company said on Thursday. Vyng said it raised $4M in its Series A funding, which was led by Omidyar Network India, and also included March Capital Partners, Alpha Edison, and the Entrepreneur Fund.

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Brain Corp Taps NVIDIA Hardware For AI Efforts

socalTECH

San Diego-based artificial intelligence software developer Brain Corp says it has linked up with processor developer NVIDIA , to power its latest product, an earlier announced commercial vacuum cleaner from SoftBank Robotics. According to Brain, it selected NVIDIA's Jetson to run its software for its self-driving robot technology, which SoftBank Robotics is rolling out to commercial customers in Japan next year.

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Udacity Achieves 50,000 Nanodegree Grads Amid Company Reorganization

Xconomy

Udacity , a pioneer in the online teaching of IT skills, is celebrating a milestone today—50,000 students have now graduated from one of its revenue-generating “Nanodegree” programs. Launched four years ago, the Nanodegree courses allow students worldwide to gain expertise in areas such as data analytics, machine learning, and autonomous flight engineering by completing coursework that can take as little as six months.

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Medsphere Raises $32M For Healthcare IT, EHR Software

socalTECH

Carlsbad-based Medsphere Systems Corporation , a provider of healthcare information technology solutions and services, annoucned this morning that it has raised $32M in a funding round. The funding came from Morgan Stanley Expansion Capital and East West Bank. Medsphere, which is led by president and CEO Irv Lichtenwald, offers up a subscription-based electronic health record, charting, and other software, in addition to providing healthcare IT consulting, service desk, and other services.

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2018 ACG 101 Holiday Reception and Spark of Love Toy Drive

SoCal Tech Calendar

Wednesday, December 19, 2018 -- 2018 ACG 101 Holiday Reception and Spark of Love Toy Drive. ACG 101 Corridor Chapter.

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Volvo Planning Major Electric Truck Rollout In LA

socalTECH

Volvo Trucks North America , the truck manufacturing arm of Volvo, says it plans on a major rollout of electric cars in the Los Angeles area, starting next year. According to Volvo, it will roll out 23, heavy-duty battery-electric trucks in 2019 and 2020, in Ontario, Chino, Fontana and Placentia, as part of a grant from the South Coast Air Quality Management District (SCAQMD).

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Silicon Beach Report Dec. 13: Vyng Raises $4 Million

L.A. Business Journal

Postmates bringing delivery robots to LA; Riot Games leads Hypixel investment; Vyng Series A totals $4 million

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Rocket Lab Up Next For Satellite Launch

socalTECH

In what has already been a very busy week for Southern California's commercial space industry, it looks like the next local company to put a payload into space is likely to be Huntington Beach-based Rocket Lab , which is targeting a launch of ten satellites for NASA on Sunday, December 16th. Rocket Lab says it is targeting targeting no earlier than 04:00 UTC on Sunday for the NASA ELaNa-19 launch, which will put 10, "CubeSat" missions into space, developed by universities from around the U.S.

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Apple Plans 5,000 Jobs for New Austin Site as Part of Nationwide Expansion

Xconomy

Austin —Apple expects to make thousands of new hires around the country from Seattle to New York, the company announced Thursday, with its biggest growth planned for Austin, TX. The computer and smartphone manufacturer plans to hire 5,000 new employees in Austin and to spend $1 billion building a new campus on the north end of Austin. It will be near Apple’s existing facilities where the company currently employs 6,200 workers, which is the second largest number of employees outside of the

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Versant Backed Akero Therapeutics Gets $70M More

socalTECH

Akero Therapeutics , a biotechnology startup backed by San Diego's Versant Ventures, which developing treatments for non-alcohol steatohepatitis (NASH) and other serious metabolic diseases, has raised $70M in a Series B funding round. According to Akero Therapeutics, the funding was led by Janus Henderson Investors, and also included Redmile Group, Boxer Capital of Tavistock Group, Cormorant Asset Management, BVF Partners, Rock Springs Capital, and LifeSci Venture Partners, plus Apple Tree Partn

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IMAX Shutters Virtual Reality Effort, Flagship LA VR Location

socalTECH

Big screen movie theater operator IMAX is shutting down all of its virtual reality theater locations, including its flagship location in Los Angeles, the company said in a regulatory filing on Thursday--not a good sign for companies hoping to make location-based virtual reality a business. According to IMAX, it has decided to close all of its remaining VR locations, and write of certain VR content investments, taking a one-time impairment charge of $6.9 million in its fourth quarter of 2018.

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Razor Share Launches Scooter Rentals Across LA

socalTECH

Just when you thought you couldn't trip over yet another scooter on your way out of the office, another, on-demand scooter rental service-- Razor Share , has launched in Los Angeles. The new, smartphone-driven electric scooter rental service is launching in Los Feliz, Sherman Oaks, and West Los Angeles, joining a very long list of scooter rental firms--including Bird, Lime, Lyft, and Uber--who are attempting to gain an upper hand on "last-mile" transportation in the region.

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Procore Collects $75 Million More, Now Worth $3 Billion

socalTECH

Carpinteria-based software developer Procore has raised $75M more in a funding round, bringing its valuation to a heady $3 billion, in a round led by Tiger Global Management, the firm said Thursday. According to Procore, the funding will go towards product development, partner platform expansion, plus hiring. The company--which has rumored to be prepping for an IPO--has raised somewhere north of $250M now in total funding.

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Virgin Galactic Planning Fourth Set Of Powered Spaceship Tests Today

socalTECH

Mojave-based Virgin Galactic , which is designing spacecraft designed to carry passengers to space for space tourism, said this morning that it will be running the fourth powered test flight of its SpaceShipTwo vehicle today, Thursday. The company said this test will burn the rocket motor attached to the vehicle longer than it has in flight before, but not to its full duration.

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Apple Plans New Sites, Hiring In Culver City, San Diego

socalTECH

Cupertino-based Apple said this morning that it plans to open up new sites in San Diego and Culver City, one of several cities that the computer and device maker hopes to grow its employee base over the next three years. According to Apple, it's hoping to grow by a combined 1,000 employees split between Seattle, San Diego, and Culver City, in addition to a separate, big expansion and new campus in Austin.