March, 2018

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The VC Inclusion Clause #MovingForward

Both Sides of the Table

Upfront Ventures has a deep-seated commitment to equality in funding & building diverse teams across all ethnicities, nationalities and genders. We do this not just because it’s the right thing to do but also we believe it will help drive large and differentiated returns. In 2017 we began inserting an “Inclusion Clause” into our term sheets because we believe that the culture one establishes at the earliest stages of one’s business will set out the course of how it will grow and develop.

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Pray.com Finds $14M For Social Networking For Religious Communities

socalTECH

Westlake Village-based Pray.com , which develops social networking applications for religious communities, has raised $14M in a Series A funding, the company said this week. The funding was led by TPG Growth, and also included Science Inc. and Greylock Partners. The startup, led by CEO Steve Gatena, has been based at California Lutheran University's Hub101 Incubator, and received a stealth seed funding round last year from Science and Greylock, which had not previously been announced.

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Bird is raising $100 million to become the Uber of electric scooters

TechCrunch LA

“It feels like investing in Uber when it first launched.” That’s what one investor said of the hot new Santa Monica, Calif.-based startup, Bird — an electric scooter company that’s now in the process of raising as much as $100 million on a $300 million valuation, according to several people with knowledge of the company’s […].

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How do you pay an early stage board?

Berkonomics

Give one percent equity to each outside board member vesting over four years of service. Many early stage CEOs and board members have asked for some guidance regarding pay and time commitments for board members. Here is my best advice, based upon many boards and many years. Pay early stage board members of companies that are not lifestyle businesses one percent of the fully diluted equity in the form of an option that vests over four years of service.

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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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UpKeep Lands $10 Million in Series A

L.A. Business Journal

UpKeep, a Los Angeles-based facilities maintenance company, announced $10 million in Series A funding, led by Emergence Capital. As part of the deal, Kevin Spain, a partner at Emergence, will join UpKeep’s board.

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Who’s In Your Club For Your Mutual Improvement?

InfoChachkie

A version of this article previously appeared in Forbes. One of my former students, Sieva Kozinsky, Co-Founder & CEO of StudySoup recently shared his startup insights with my UC Santa Barbara students. He offered my students a litany of compelling suggestions. However, the one that stood out to me was the importance of curating their peer groups in advance of graduating and starting an entrepreneurial career.

More Trending

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Casa Verde Capital Raises $45M Investment Fund

socalTECH

West Hollywood-based Casa Verde Capital said this week that it has raised $45M in its debut, investment fund, which will specifically invest in the "ancillary cannabis" industry. The venture capital firm--whose founders include Calvin Broadus (aka Snoop Dogg)--said it will specifically invest in agtech, health & wellness, financial services, technology, media, compliance and laboratory technology related to the legal cannabis industry.

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Bird is raising $100 million to become the Uber of electric scooters

TechCrunch LA

“It feels like investing in Uber when it first launched.” That’s what one investor said of the hot new Santa Monica, Calif.-based startup, Bird — an electric scooter company that’s now in the process of raising as much as $100 million on a $300 million valuation, according to several people with knowledge of the company’s plans.

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Any advice can be worthless, or worse.

Berkonomics

Close. Ever get bad advice? Sure. We all have in our past. Ever take that advice without question because the person giving it was an investor, a superior in rank, the chairperson of your board? I’ll bet you have at least one story of bad advice taken and being bitten as a result. As one illustration among many I can recall, let me tell you the story of the first investment made by a newly organized formal group of angel investors.

Startup 243
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Silicon Beach Report March 30: Female-Focused Venture Fund Raises $10.4 Million

L.A. Business Journal

Female-focused venture fund raises $10.4 million; Los Angeles tech workers data released; SpaceX gets approval to build satellite-powered broadband network.

Funding 187
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FundingPost Los Angeles VCs, Angels, Crypto and ICOs Event

SoCal Tech Calendar

Wednesday, April 4, 2018 -- FundingPost Los Angeles VCs, Angels, Crypto and ICOs Event. At our next event the panel of investors will focus on Early-Stage Venture Investing and a fireside chat about ICO basics: How to meet investors, pitch them, and what it really takes to get them to write you a check! We will be discussing trends in Early-Stage Investing, hot sectors, sectors that these Angels and VCs look at, things that are most important to them when they are considering an Investment, the

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Meet the 25 Startups Competing at SXSW Startup Night 2018

Tech.Co

Everything is bigger in Texas. And while that cliché has been said about everything in the Lone Star state for years, it rings particularly true for the hottest startups showcasing their big innovations at SXSW Startup Night 2018 presented by the Kauffman Foundation and TechCo. It is here that 25 of the most diverse startups from around the world will showcase their latest technology and compete for prizes and a chance to be fast tracked as one of the Startup of the Year semifinalists at Innovat

Startup 80
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How Ordermark Is Taming The Chaos Of Online Restaurant Orders, With Alex Canter

socalTECH

If you run a restaurant, it turns out the move towards online ordering is a recipe for chaos--with multiple online order services and apps, all with their own way of getting orders to your restaurant. Santa Monica-based Ordermark (www.getordermark.com) is looking to tame that chaos with a system which takes all of those online orders, and feeds them into a single printer at a restaurant.

Startup 189
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Bird expands to San Francisco, San Jose and Washington

TechCrunch LA

The smash dockless scooter rental startup, Bird , is expanding beyond its Southern California nest with a new rollout in San Francisco, San Jose, Calif. and Washington, DC, the company said today. And as his company makes its migration across the country, Bird chief executive Travis VanderZanden is determined not to make the same mistakes that bedeviled his former bosses at Uber.

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I won’t serve on a board without D&O insurance!

Berkonomics

Close. I’ve been sued as a board member too many times over the past twenty-five years of board service. Five times. Does that shock you? It does me. Entrepreneurs blaming their board for failures of a fragile, early stage company. Shareholders unhappy over the same loss, reaching out to sue every name available. Employees reaching out to anyone above to redress grievances.

Resource 243
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Bird Expands to Three New Markets, Announces Pledge

L.A. Business Journal

Bird, the Santa Monica-based electric scooter ride-sharing company, announced it has opened operations in San Francisco, San Jose and Washington, D.C. on the heels of a March 13 Series B round that raised $100 million.

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Orange County VCs, Angels, Crypto and ICOs Event

SoCal Tech Calendar

Tuesday, April 3, 2018 -- Orange County VCs, Angels, Crypto and ICOs Event. At our next event the panel of investors will focus on Early-Stage Venture Investing and a fireside chat about ICO basics: How to meet investors, pitch them, and what it really takes to get them to write you a check! We will be discussing trends in Early-Stage Investing, hot sectors, sectors that these Angels and VCs look at, things that are most important to them when they are considering an Investment, the best and wor

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Hungry for Innovation, Big Food Firms Seek Alliances With Startups

Xconomy

Big Food is getting serious about innovation. Many top food companies are increasingly pumping money into supporting young, innovative startups, according to a recent analysis by CB Insights. The firms include stalwarts like Kraft Heinz (NASDAQ: KHC ) , which has an incubator and accelerator program called Springboard , and relative newcomers like the Greek-style yogurt maker Chobani , which operates an incubator that makes $25,000 investments in startups with no equity stake.

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Nimble's Jon Ferrara On Retaining And Keeping Customers

socalTECH

This year, we're sponsoring the Recurring Revenue Conference (www.recurringrevenueconference.com), presented by Sutton Capital Partners. As part of our sponsor relationship with the conference, we're running a series of interviews with speakers from the conference about their experience in the area of recurring revenues, customer service, and similar topics.

Customer 166
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WHOOP raises $25 million to tell everyone from athletes to execs about their health

TechCrunch LA

WHOOP, the company behind the Tesla of health tracking and sports performance wearables, has raised a whopping $25 million in a new round of funding. The round was comprised of a slew of prominent investment firms and individual investors including the Durant Company, the National Football League Players Association, former NBA commissioner David Stern, Twitter […].

Invest 256
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How about your board members’ time commitments?

Berkonomics

Expect a board member to give a meeting a month, emails and phone calls between. Urgent issues require more of all. Board members are usually busy people, often running other companies or serving on multiple boards. Early stage boards usually meet once a month for two to a maximum of four hours, enough to ruin the rest of a day for those who travel even short distances.

Email 243
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Musk’s Tesla Pay Package Wins Shareholder Approval

L.A. Business Journal

Elon Musk’s new Tesla Inc. compensation package received the approval of 73 percent of company voting shares, according to a March 21 Securities Exchange and Commission filing made hours after a company shareholder meeting at its Fremont headquarters.

Company 127
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Los Angeles Ad Pros Mix Mingle Network

SoCal Tech Calendar

Thursday, March 29, 2018 -- Los Angeles Ad Pros Mix Mingle Network. With technology, the advertising industry is going under massive disruptions right now. Mix, mingle, and network with other advertising professionals. Find partners with advertisers, ad agencies, publishers, and ad tech companies.

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CMS Starts to Cover Broad Cancer DNA Tests, Boosting Foundation, Thermo

Xconomy

The Centers for Medicare & Medicaid Services, which administers the federal Medicare insurance program, will begin covering FDA-approved diagnostic tests that scan tumors for a range of genetic mutations. The news is a boost for companies like Foundation Medicine and Thermo Fisher Scientific, who are among the few firms with such tests on the market.

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Startup Boost Targets Los Angeles With Pre-Accelerator Program

socalTECH

Do you have a startup idea, and a team, but no seed funding, and are even too early for an early stage startup accelerator? A new program in Los Angeles, Startup Boost / Los Angeles , says it is launching a "pre-accelerator" program which aims to help bridge the gap between a team with an "evolved" idea and seed investors and accelerator programs. The program--which is taking applications here in Los Angeles until March 22nd--said it is looking for eight startups to include in a six week mentors

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The dinner that destroyed Gawker

TechCrunch LA

This is an excerpt from Ryan Holiday’s new book Conspiracy: Peter Thiel, Hulk Hogan, Gawker, and the Anatomy of Intrigue, available now. Peter Thiel’s vague idea to do something about Gawker, the site that had outed him as gay in 2007, was concretized into conspiracy on April 6, 2011. It began unremarkably, when Thiel traveled […].

Ideas 252
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Please learn this: “Noses in; fingers out!”

Berkonomics

Many of us have someone who reports directly to us and who supervises others in return. If that fits, well then, this one is for you. And it is one of the most important lessons you can learn as a manager or board member of a company or a non-profit enterprise. I first heard this expression in a governance seminar for a non-profit higher educational board upon which I sit, years ago.

Report 226
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ServiceTitan Raises $62 Million in Series C Funding

L.A. Business Journal

ServiceTitan, a Glendale-based software app for service professionals, announced $62 million in Series C funding. The funding round was led by Battery Ventures and will be used to expand the company from 400 to 500 employees by the end of the year, as well as for product enhancement and partnership expansion.

Glendale 124
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Women in the Global Markets! WITI

SoCal Tech Calendar

Tuesday, March 27, 2018 -- Women in the Global Markets! WITI. Governments in 119 economies carried out 264 business reforms in the past year to create jobs, attract investment and become more competitive, says the World Bank Group's latest Doing Business 2018. Women must influence followers' attitudes and behaviors in a global context in order to achieve a common vision and goal.

WITI 100
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7 Keys To Success With An Employee Ownership Culture

Startup Professionals Musings

One of the lessons I have learned over the years as a business executive, and now as a mentor to entrepreneurs, is that if you really want employees who enthusiastically take ownership of their work, you have to start treating them like owners, not renters. Owners feel they have skin in the game, and benefit from improved effort and results, rather than just getting blamed for problems.

Mentor 72
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Miso Robotics' Officially Deploys At CaliBurger, Inks Sports Partnership

socalTECH

Pasadena-based robot developer Miso Robotics says it has officially launched its burger flipping robot, "Flippy", at CaliBurger's Pasadena location--and, separately, has inked a partnership to bring its robotics technology to the sports and entertainment venue market. Miso's robot flips burger patties and cooks them to order, removing them from the grill when ready.

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Southern California needs to find its hub for it to develop its own tech ecosystem

TechCrunch LA

Recognizing the tens of billions of dollars that the Southern Californian region leaves on the table, because it hasn’t taken its rightful place in the American technology industry, a new group called the Alliance for Southern California Innovation has just released a report to analyze how SoCal can work to assume its pole position. Through interviews with 100 leaders of the technology ecosystem and an analysis of venture capital funding for the region, the organization has concluded (

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Job Destroyers or Helpers? Amazon, FedEx Hiring More Robots & Humans

Xconomy

Advances in robotics and artificial intelligence technologies have stoked fears that machines are coming for humans’ jobs in a variety of industries. Some executives of robotics companies have tried to allay those concerns, arguing that in many cases, people’s roles will evolve, but technology won’t eliminate their jobs completely. A report by The New York Times indicates that’s how things seem to be playing out in the warehouse and logistics sector, at least for now.

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Foxconn Acquires Belkin for $866 Million

L.A. Business Journal

Foxconn, the Taiwanese manufacturing company that makes iPhones, announced the acquisition of Playa Vista-based Belkin for $866 million. The cash deal includes Belkin’s associated brands Linksys, Wemo and Phyn.

Belkin 113
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Facebook Marketing Exclusive MASTERMIND Seminar (12 person limit)

SoCal Tech Calendar

Wednesday, March 28, 2018 -- Facebook Marketing Exclusive MASTERMIND Seminar (12 person limit) This event is hosted at WeWork in Playa Vista.

Marketing 100
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5 Motivations That Bode Well For New Venture Success

Startup Professionals Musings

As a startup advisor, I see many aspiring entrepreneurs whose primary motivation seems to be to work part time, or get rich quick, or avoid anyone else telling them what to do. Let me assure you, from personal experience, and from helping many successful as well as struggling entrepreneurs, that starting a business is hard work, and doesn’t come with any of the benefits mentioned.