Both Sides of the Table
MAY 14, 2015
*. Unicorns. The most overused word in the technology industry today. And they aren’t even f **g real. That is how absurd thing have gotten. No, I take that back. THIS is how absurd things have gotten: “I have to raise at a billion-dollar valuation” “Why? You don’t have the revenue or profit to support that valuation.” “But if I don’t I won’t be able to recruit the best people in the market.
socalTECH
MAY 14, 2015
Santa Monica-based Famebit , the Youtube influencer marketplace led by David Kierzzkowski, has acquired short form, video marketing company Refame , the two announced this morning. Financial details of the buy were not disclosed. Famebit said the deal will help it automate short form, video content creation on Vine, Snapchat, and Instagram. Refame has a reach of over 40 million people, according to the companies.
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Berkonomics
MAY 14, 2015
It is all about execution. Waiting over a year to see results is too long, since your chance of mid-course correction is greatly reduced. To make the point, Harvard’s Robert Kaplan believes that less than 10% of corporate strategies are effectively executed. Ouch! If that is true, we are tolerant bunch. We carefully plan in long, dedicated sessions each year or so, then draw up a series of goals, strategies, tactics, objectives, targets, or whatever we want to name them.
InfoChachkie
MAY 11, 2015
A version of this article previously appeared on Forbes. The US Postal Service pulled off another debacle with the Maya Angelou stamp. Their task was simple. Combine a photo of Ms. Angelou with one of her more memorable verses. Instead, the coupled her image with text written by Joan Walsh Anglund. <break here> Twice Isn’t Charming. Hey, everyone makes a mistake.
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Startup Professionals Musings
MAY 11, 2015
Being an entrepreneur seems to be one of the most popular lifestyle aspirations these days. According to most definitions, anyone who starts a business is an entrepreneur , but most people don’t realize there are many startup types out there, and picking the wrong one can be just as disastrous as being stuck in a cubicle at work, or doing things with no interest and no skills.
socalTECH
MAY 12, 2015
Local angel investors--including the Tech Coast Angels and Pasadena Angels --might just have another big hit on their hands, with the news today that San Luis Obispo-based Mindbody has filed for an IPO. Local angels--whose biggest exit so far in recent years was the IPO of Green Dot back in 2010--were the first backers of MindBody, having first received funding from Frontera Capital, the Pasadena Angels, and the Tech Coast Angels back in 2009.
Southern California Tech Central brings together the best content for technical professionals in Southern California from the widest variety of industry thought leaders.
Both Sides of the Table
MAY 10, 2015
*. Lawsuits. I’m so tired of the nature of the legal system in the United States where bullying, intimidation and mobster-like shake-downs are becoming prevalent. As I write these words I already imagine my next deposition in which I’m asked to read this out loud. Lawsuits are becoming so prevalent these days. Even when I’m not the one being sued I find myself being dragged into deposition after deposition and my blog (along with all my emails) are being served as evidence.
Startup Professionals Musings
MAY 13, 2015
You will be pivoting your business in your lifetime, whether you are a new startup, or a mature company like Motorola or IBM. You can count on it and plan for it, or you wait for the next survival crisis brought your way by this rapidly changing world. You can even give it a more elegant name, like “market-focused reinvention,” but it won’t be graceful if you don’t take the lead.
socalTECH
MAY 11, 2015
Irvine-based Kofax Limited and Lexmark International said late Friday that the two companies have received Hart-Scott-Rodino (HSR) Antitrust clearance on the proposed acquisition of Kofax by Lexmark. The two had announced in March that Lexmark would pay $11.00 per share in cash--or approximately $1 billion--for Kofax. the two companies said that it also recently received approval from the German Federal Cartel Office on the proposed transaction.
Tech Zulu Event
MAY 12, 2015
Nestled between a quiet residential neighborhood and industrial space on Centinela Blvd. a few blocks shy of Santa Monica, is the Westside’s new coworking studio called Hatch. Built around the idea of convergence between creativity, serenity and design, the boutique studio launched in April 2015 to serve as gathering spot for freelancers, tech types and entertainment folks to get out the house and into their projects.
socalTECH
MAY 15, 2015
Drizly , a provider of on-demand delivery of beer, wine and liquor ("Uber for beer"), said Thursday that it has expanded its services to Southern California, starting with Orange County. Drizly said it will deliver a selection of beer, wine and liquor to your doorstep in less than an hour, via both a mobile app or through a web browser. Drizly said it is initially launching coverage on the Balboa Peninsula, Corona Del Mar, Costa Mesa, Huntington Beach, Irvine, Newport Beach and Newport Coast.
socalTECH
MAY 15, 2015
Irvine-based Linksys has rolled out another Wi-Fi range extender on Thursday, saying its new device will allow users to boost their Wi-Fi signal to coverage by up to 10,000 square feet. Linksys said its new, Linksys AC1200 Amplify Wi-Fi Range Extender includes a built-in power output, and automatically detects and amplifies a router's Wi-Fi signal into such areas as remote areas of a home, basement, or backyard.
socalTECH
MAY 14, 2015
Los Angeles-based venture investor Core Innovation Capital is one of the lead companies in a Series A investment in Vouch , a consumer lending startup which offers up consumer loans based on if a users' social network. will "vouch" for that users' credit-worthiness. Vouch said it raised $6M in the Series A, which came from Core Innovation Capital, Data Collective, Stanford StartX Fund and Cooley LLP along with First Round Capital, Greylock, IDG Ventures and AngelList.
socalTECH
MAY 14, 2015
Laguna Beach-based virtual reality technology developer NextVR has received a round of funding from Mandalay Entertainment's Peter Gruber, the company said this week. Size of the strategic investment round was not announced. NextVR--which is looking to bring virtual reality to live sports and entertainment broadcasts--said that Gruber has also joined the company's advisory board, along with Scott Teissler and Doug Perlman.
socalTECH
MAY 12, 2015
Laguna Hills-based Glaukos , which is developing a medical device to treat glaucoma, has filed for an IPO. According to Glaukos, it is looking to raised up to $86.25M in an IPO oon the New York Stock Exchange, under the symbol GKOS. The IPO is being underwritten by J.P. Morgan, BofA Merrill Lynch, Goldman Sachs & Co., William Blair, and Cantor Fitzgerald & Co.
socalTECH
MAY 12, 2015
Santa Monica-based talent management software developer Cornerstone OnDemand has launched two new products this morning, including a new predictive analytics dashboard and a cloud platform aimed at developers. Cornerstone OnDemand said that its Cornerstone Insights product uses machine learning and big data to help businesses better hire, train, manage, and retain their top talent.
socalTECH
MAY 12, 2015
San Diego-based Imprimis Pharmaceuticals , a company developing compounded drugs, said thiss morning that it has scored $15M in a term loan. The debt funding came rom Life Sciences Alternative Funding LLC. According to Imprimis, the funding will go towards expansion and growth of the company's opthallogy and urology business. The company said the loan has an interest rate of 12.5 percent per year and monthly, interest-only payments for the first three years.
socalTECH
MAY 14, 2015
Irvine-based consumer electronics maker Vizio is looking to file for an IPO, and has started shopping for investment bankers, according to a report. Bloomberg says that Vizio has more than $1 billion in revenues, and has been invited a number of banks to pitch for its business, and is hoping for an IPO this year. Vizio was founded by William Wang, and was originally bootstrapped by Wang with $600,000 raised from friends and family and by mortgaging his house.
socalTECH
MAY 14, 2015
What's the relationship between Internet video phenomenon lonelygirl15, and streamlining the mound of paperwork required for physicians to gain credentials at your local hospital? Nothing, except Miles Beckett , a serial entrepreneur who is best known for creating lonelygirl15 and online content provider EQAL. We caught up with Miles, to learn more about his new startup, Silversheet (www.silversheet.com), and the big opportunity to streamline paperwork in the medical field for doctors seeking cr
socalTECH
MAY 11, 2015
Santa Monica-based event discovery app startup Rowl said Monday that it has acquired Open Me , a company which provides e-greeting cards and birthday and holiday reminders. Rowl said it paid $6M, consisting of 10 million shares of its common stock at $0.60 per share, for Open Me, which has around 140,000 daily active users. Open Me was venture backed by MySpace (Science, MySpace), Pritzker Group Venture Capital, United Talent Agency, Sky, along with others.
socalTECH
MAY 11, 2015
Los Angeles-based gay dating app and website developer Grindr is looking for a buyer, according to Bloomberg. Bloomberg said that Grindr has hired investment banker Raine Group to advise the company on a sale. Grindr was founded by Joel Simkhai. READ MORE>>.
socalTECH
MAY 11, 2015
San Diego-based Maxwell Technologies , a provider of energy storage, microelectronics, and other products, said this morning that it has named David Lyle as its new Senior Vice President, Chief Financial Officer, Treasurer, and Secretary. Lyle was most recently CFO of Entropic Communications, and also had been CFO of RF Magic. Lyle also has been CFO at Syray Wireless and Mobilian Corporation, along with serving at Intel Capital, among other companies.
socalTECH
MAY 11, 2015
Newport Beach-based Veritone , a provider of services to help companies with cross media advertising, recently raised $34.0M in a funding round. Details on that funding have not been announced. Veritone servs the broadcast and advertising market. The funding was recently disclosed in the PricewaterhouseCoopers/NVCA MoneyTree report. READ MORE>>.
socalTECH
MAY 15, 2015
Los Angeles-based NantPharma , one of the family of companies founded by Dr. Patrick Soon-Shiong as part of his NantWorks effort, is paying up to $1.3 billion for the rights to Cynviloq, a product owned by San Diego's Sorrento Therapeutics , the two said Friday. Sorrento said that NantWorks will provide $90M in an up-front payment, and up to $1.2 billion in milestone payments for the rights to Cynviloq.
socalTECH
MAY 15, 2015
Los Angeles-based SHIFT , the social advertising startup led by James Borow, has been acquired by Boston-based Brand Networks , in a deal worth $50M. According to Brand Networks, it paid $50M in cash and stock for SHIFT, and will appointobrow as Chief Product Officer. Shift was venture backed by Baroda Ventures, Crosscut Ventures, DN Capital, Double M Partners, Founder Collective, Lerer Media Ventures, Rincon Venture Partners, and Thrive Capital.
socalTECH
MAY 14, 2015
The City of Santa Monica, which over the last few years has earned itself the reputation as a technology startup friendly city--has just stepped into a major Internet firestorm, after the City Council cracked down on vacation rentals through Airbnb and other sites, banning renting out residences for less than 30 days, and forccing homeowners who rent out extra rooms--or even their couch--to get business licenses, and pay a 14% tax.
socalTECH
MAY 14, 2015
Los Angeles-based augmented reality technology developer DAQRI said Wednesday afternoon that it has acquired ARToolworks , a developer of augmented reality software libraries. Financial details of the acquisition were not disclosed. DAQRI said that, as part of the acquisition deal, it will release ARToolKit's "Pro" version of its software available for free, and will open source the software under LGPL v.3.
socalTECH
MAY 13, 2015
Los Angeles-based free mobile phone and broadband provider FreedomPop announced Wednesday that it has officially started accepting first-come, first-serve signups for its beta in the United Kingdom. FreedomPop said the free service will offer up 200 minutes, 200 texts, and 200 MB of data to users, plus free international calling. In addition to the UK expansion, FreedomPop said it has launched a SIM card service called Jetsetter , which will be available in the UK, Spain, and France.
socalTECH
MAY 13, 2015
San Diego-based Qualcomm is backing edX , a nonprofit provider of online, massive open online course (MOOC) technology, the two said this morning. According to the companies, Qualcomm subsidiary Qualcomm Education will help edX develop its technology, by contributing engineering resources and licensing its SDK code to edX. Financial details of the deal were not disclosed. edX develops online course software to more than 60 institutions, including MIT, Harvard, and Berkeley.
socalTECH
MAY 12, 2015
Los Angeles-based Velocify , the developer of sales automation software which is led by Nick Hedges, has snagged ZEFR Chief Technology Officer Manoj Goyal as its new Chief Operating Officer, the company said this morning. Velocify said Goyal will lead the company's product, technology, and client success teams. Goyal also has served at OpenX, where he was SVP of Engineering, and also has been at Hewlett Packard, Oracle, and EMC.
socalTECH
MAY 12, 2015
Santa Monica-based car buying and selling marketplacce TrueCar says that more than half of the consumers coming to the service are now using either a smartphone or tablet. TrueCar detailed the information in the announcement of the launch of a new product, TrueCash, which offers up personalized incentives from manufacturers and dealers, and also features high resolution photographs, embedded video, and more to help manufacturers showcase their brands.
socalTECH
MAY 11, 2015
San Diego-based Ligand Pharmaceuticals announced this morning that it has acquired more than 15 different programs from Selexis SA , for $4M in cash. Ligand--which develops a range of pharmaceuticals--said that it acquired a number of programs in various stages of development, ranging from preclinical through Phase 3 studies. Ligand said each of the programs is already fully funded by a development partner.
socalTECH
MAY 15, 2015
San Diego-based solar energy provider OneRoof Energy said Thursday that it has tied with online solar marketplace Geostellar , and added Geostellar as a sales affiliate. OneRoof Energy said that Geostellar is known for providing solar power systems to employee benefit groups for companies such as 3M, Cisco Systems, and Kimberly-Clark. Geostellar offers up its marketplace in Arizona, California, Connecticut, New Jersey, New York and Massachusetts.
socalTECH
MAY 14, 2015
Los Angeles-based NantBiosciences , one of the group of companies created by billionaire entrepreneur Patrick Soon-Shiong, has raised $100M in funding, according to a regulatory filing by the company. Source and details of that funding have yet to be announced. The filing indicates a single investor put that $100M into the company. NantWorks has said that NantBiosciences is working on discovering knowledge on the protein level, using personalized medicine to develop drugs.
socalTECH
MAY 13, 2015
San Diego-based NoteVault , which develops a cloud-based note taking product for the commercial construction industry, has named Jeremy Foster as the company's Chief Marketing Officer, and John Roshala as its new VP of Sales. Foster was previously at Ericsson, and also worked at Vodafone New Zealand. Roshala was previously at National Powersport Auctions, and also served at XO Communications and Anonymizer.
socalTECH
MAY 13, 2015
Santa Monica-based social customer relationship management (CRM) tool developer Nimble has launched a new set of browser apps--which runs in Chrome, Safari, and Firefox--that help tie the company's software into Gmail. According to Nimble, its new Smart Contacts App for Gmail helps users build live contact and company profiles directly from Gmail, automatically gathering existing contact and company records from the email software, and linking them to a user's calendar and other social interacti
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