Wed.Jul 25, 2018

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Stamps.com Acquires MetaPack for $230 Million

L.A. Business Journal

El Segundo’s Stamps.com Inc. announced today a definitive agreement with United Kingdom supply chain management company MetaPack Ltd. to buy the company for approximately $230 million in cash.

Company 113
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Amgen Backed Alector Adds $133M

socalTECH

South San Francisco-based Alector , a biotechnology company focused on finding treatments for neurodegenerative diseases and cancer, announced Wednesday that it has raised $133M in a Series E funding round. The company--which is backed by Thousand Oaks-based Amgen--said the funding came from Deerfield Management, AbbVie Ventures, Federated Kaufmann Fund, Section 32, Euclidean Capital, Foresite Capital, Lilly Asia Ventures, New Leaf Venture Partners, Perceptive Advisors, Casdin Capital, Polaris P

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TCVN Discussion: Should You Use a Finder to Help You Raise Capital?

SoCal Tech Calendar

Thursday, July 26, 2018 -- Should You Use a Finder to Help You Raise Capital? Tech Coast Venture Network. You've been banging your head against the wall for months - perhaps years - looking for capital, but you can't seem to be getting any traction. And whenever anyone expresses any interest in talking to you, you stumble your way through a very awkward discussion of terms for which you haven't the slightest idea about.

TCVN 100
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Open Listings Tops $1 Billion In Home Purchases

socalTECH

Los Angeles-based Open Listings , the venture-backed startup which helps people find, tour, and buy homes, said on Wednesday that it has just passed up $1 billion in homes bought on its service. The startup, led by co-founder and CEO Judd Schoenholtz, is venture backed by Matrix Partners, Initialized Capital and Arena Ventures. Open Listings says it now offers its service in California, Seattle, Austin, Chicago, and Dallas.

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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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CTO Mixers: Cruise w/ Anita Sengupta of Virgin Hyperloop

SoCal Tech Calendar

Tuesday, July 31, 2018 -- CTO Mixers: Cruise w/ Anita Sengupta of Virgin Hyperloop. CTO Mixers is a curated, invite-only event. Geared at C-Level, SVPs in the Enterprise and high quality entrepreneurs.

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AliveGen Sells Drug Candidates To Biogen For As Much As $562.5M

socalTECH

Thousand Oaks-based AliveGen > , a startup developing biopharmacueticals to treat muscle and bone loss and the loss of functional capacity, has sold the rights two two of its early stage drug candidates to Biogen , in a deal worth as much as $562.5M. According to Biogen, it will pay $27.5M upfront, and up to $535M in milestone payments, for the rights to ALG-801 (now known as BIIB110 ) and ALG-802, two compounds used to treat various neuromuscular diseases.

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HyreCar Names New Board Member

socalTECH

Los Angeles-based HyreCar , which operates an online car sharing marketplace specifically to provide vehicles to ridesharing drivers, announced this morning that it has named a new board member. According to HyreCar, it has appointed Brooke Skinner Ricketts as an Independent Director at the company. Ricketts is the Chief Marketing Officer for Cars.com, and also has served at Avant and Twitter; Ricketts was previously Head of Brand Strategy when she was at Twitter.

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7 Keys To Making People First And Winning In Business

Startup Professionals Musings

Just as national cultures influence and shape a country, so does the startup culture set by founder strategy drive the future of a new venture. In top current companies, such as Google, Apple, and Netflix, cultural strategies that include greater employee freedom and fostering creativity are the norm. I believe this new focus on culture is a key to startup success today.

Metrics 57
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EDF Renewables North America Sells Wind Project To MidAmerican Energy

socalTECH

San Diego-based EDF Renewables North America , which develops renewable energy projects, reports this morning that it has sold the development assets to a wind far in Iowa. According to EDF Renewables, MidAmerican Energy Company and the company have closed on an asset purchase agreement for a 91-megawatt (MW) wind project, the Ivester Wind Project, which is based in Grund County, Iowa, about 85 miles northeast of Des Moines.

San Diego 100
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San Diego's TriTech Rolled Up Into Superion By Vista Equity, Bain Capital

socalTECH

San Diego-based software developer TriTech , a developer of public safety software for 911 dispatching, crime mapping, emergency medical services, and other related areas, has been rolled into single company with another two companies, Superion and Aptean. All three companies provide software for the public safety and public administration area. The big rollup is being funded by private equity companies Vista Equity Partners and Bain Capital.

San Diego 100
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Stamps.com Acquires MetaPack For $230M

socalTECH

El Segundo-based Stamps.com announced this morning that it has acquired UK-based MetaPack Ltd. , a provider of e-commerce shipping software. Stamps.com said it paid approximately $230M for MetaPack, funded entirely from its current cash balances. MetaPack offers up its enterprise e-commerce shipping software to e-commerce customers. According to Stamps.com, MetaPack supports over 450 parcel carriers that operate in more than 200 countries, and that its system was used for processing over 550 mil

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Snap Loses Head Of Spectacles Division

socalTECH

Venice-based Snap lost the head of its Spectacles division earlier this month, according to a report on Tuesday, as Snap continues to struggle to make its connected sunglasses more appealing to users. Snap--the parent company of Snapchat--launched the second version of its Spectacles in April. According to an email leaked out of Snap, Mark Randall, Vice President of Hardware at Snap, will form his own company after leaving Snap; the departure apparently comes as part of a decision by snap to "re

Venice 100
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SpaceX Successfully Launches Another Iridium Mission

socalTECH

SpaceX successfully launched another Falcon 9 into space on Wednesday morning, putting the Iridium-7 NEXT mission into space at 4:39 a.m. PDT from Vandenberg Air Force Base. The very early morning launch is the seventh of 75 satellites that SpaceX will be delivering into space for Iridium for that company's global satellite communications network. As part of the launch, SpaceX also landed the first stage of the Falcon 9 in the Pacific Ocean, on the "Just Read the Instructions" droneship.

SpaceX 100