Sat.Apr 24, 2021 - Fri.Apr 30, 2021

Some great coaches are younger than you are.

Berkonomics

Especially for social media-based businesses, we all need to recalibrate our thinking about who is the teacher and who is the student. There is nothing wrong with a manager slowing a conversation to ask for more background when speaking to an often-younger and more involved associate.

Coach 156

7 Ways Fun At Work Leads To Innovation And Creativity

Startup Professionals Musings

I’m convinced that people who have fun at work are more innovative, as well as happier. I don’t have any big scientific studies to prove this, but in my considerable business experience, I haven’t seen many successes come out of a group of fearful pessimists or unhappy people.

Ideas 110
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TikTok Names New CEO

L.A. Business Journal

TikTok named Shouzi Chew, chief financial officer at parent company ByteDance Ltd., as CEO for the social media company

CoreLogic Gets Shareholder Approval On Private Equity Acquisition

socalTECH

Irvine-based property information provider CoreLogic said on Wednesday that its shareholders have approved the go-private, private equity acquisition of the company by Stone Point Capital and Insight Partners. The two private equity companies will pay $80.00 per share in cash for CoreLogic. The deal is worth $6 billion in total. CoreLogic said it is being advised by financial advisor Evercore in the deal, with legal advice from Skadden, Arps, Slate, Meagher & Flom LLP.

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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.

GAN CEO Patrick Riley to Keynote Founder Showcase

StartUp Beat

Founder Showcase, organized by the world’s largest pre-seed startup accelerator Founder Institute, takes place tomorrow, April 28, from 10am to 1pm U.S. Pacific Time. Those interested can register at no cost here. Founded in 2008, the virtual event features hundreds of […].

7 Ways To Elevate Your Team Engagement and Happiness

Startup Professionals Musings

Based on my own long experience in business, team satisfaction, engagement, and productivity continues to be a challenge. According to consistent feedback over the past several years, even in the best companies, employees seem stuck at less than 40 percent happy and "fully engaged.”

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Milken Institute Backs $2M Prize For African Entrepreneurship

socalTECH

Los Angeles-based The Milken Institute, along with the Motsepe Foundation, said this week that the two have launched a new, $2 million technology prize program, aimed at entrepreneurs in Africa. According to the two, the new Milken-Motsepe Innovation Prize is aimed at technological solutions that accelerate progress towards implementing the United Nations' Sustainable Development Goals (SDGs).

Canada’s newest unicorn: Clio raises $110M at a $1.6B valuation for legal tech

TechCrunch

Clio , a software company that helps law practices run more efficiently with its cloud-based technology, announced Tuesday it has raised a $110 million Series E round co-led by T. Rowe Price Associates Inc. and OMERS Growth Equity.

6 Ways To Improve Your Odds Of New Business Success

Startup Professionals Musings

Almost every entrepreneur and new business owner I mentor is certain that his/her idea has a very high probability of success, and all find it hard to believe that ninety percent of startups ultimately fail.

J2 Global to Spin Off Cloud Fax Business

L.A. Business Journal

Downtown-based internet services company J2 Global Inc. announced April 19 that it will separate into two publicly traded companies

Illumina Donates $60M To Pathogen Genomics Effort

socalTECH

San Diego-based life sciences equipment maker Illumina said this week that it is donating $60M to a global pathogen genomics initiative, in a partnership with the Bill & Melinda Gates Foundation. According to Illumina, the donation will support creating a comprehensive pathogen genomic network around the world, to help build critical public health capabilities in areas of need.

9 Crucial Elements Of Every New Venture Funding Pitch

Startup Professionals Musings

As a long-time advisor to entrepreneurs and occasional angel investor, I often see and hear innovative product pitches that sound exciting, but are missing one or more of the key business elements that investors deem critical for funding consideration.

5 Paths To Snag That Key Leader For Your New Venture

Startup Professionals Musings

If you are a young startup founder, how do you find that CEO or other executive for your “dream team” to close on funding or complement your skills to kick start your company?

Hashflow Picks Up $3.2M For Crypto Exchange

socalTECH

Santa Monica-based Hashflow, which operates a decentralized exchange for the crypto market, says it has raised $3.2M in a seed funding round. The funding came from Dragonfly Capital and Electric Capital, plus IDEO Ventures, Alameda Research, Metastable, Galaxy Digital, Unanimous Capital, and angels Balaji Srinivasan, Kain Warwick and Ryan Sean Adams. Hashflow's decentralized exchange is based on Ethereum. hashflow crypto exchange decentralized seed funding venture capital

Report: Snap Still Mostly White, Male

socalTECH

Venice, California-based social app developer Snap, the parent company of Snapchat, is still mostly white and male, according to the company's latest diversity report. 47 percent of Snap's employees are white, and 65 percent are male, according to numbers parsed by The Verge. Snap posted its diversity report on Thursday, the second time it has released its diversity numbers. snap snapchat diversity report

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GumGum Grabs $75M

socalTECH

Santa Monica-based contextual advertising technology developer GumGum said earlier this month tht it raised $75M in an investment round from Goldman Sachs Growth. The funding--announced on April 13th--will go towards making its products more broadly available, and to expand and accelerate investments in international markets, according to the firm. As part of the funding, Holger Staude of Goldman Sachs Growth will join GumGum's board of directors. GumGum is led by CEO Phil Schraeder.

Viasat Gets Type Certification On Bombardier Jets

socalTECH

Carlsbad-based satellite communications and equipment provider Viasat said this morning that it has received Supplemental Type Certificate (STC) approval from the Federal Aviation Administration (FAA) for its Ku-band satellite products on Bombardier Challenger 600 series business jets. The certification allows the company to install its systems on Bombardier's Challenger 604, Challenger 605 and Challenger 650 jets.

Oro Debuts New Ecommerce Marketplace Software

socalTECH

West Hollywood-based Oro, Inc., a developer of e-commerce software, says it has launched a new product, OroMarketplace. The new software is aimed at the B2B marketplace market. The company says the new software lets sellers to rapidly implement B2B, B2C, B2G, franchise network ordering, services procurement, bookings/appointments, and physical goods marketplaces. Oro says its new marketplace tool is already powering such marketplaces as SupplyCore, a supplier for U.S.

Adcentryx Therapeutics Nabs $50M In Funding

socalTECH

San Diego- and Shanghai-based Adcentryx Therapeutics, a biotechnology company focused on antibody drug conjugate (ADC) therapeutic development, says it has raised $50M in its Series A funding round. The funding was led by CBC Group, and also included Zoo Capital the venture arm of Boyu Capital. Adcentryx Therapeutics was founded by CEO Dr. Hui Li. Li was previously CEO of Levena Biopharma, which was a subsidiary of San Diego's Sorrento Therapeutics.

Capsida Uncloaks With $140M In Funding

socalTECH

Thousand Oaks-based Capsida Biotherapeutics, a new biotechnology company focused on using adeno-associated virus (AAV) engineering and cargo development platform to develop tissue-targeted gene therapies for multiple types of diseases, has uncloaked from stealth mode, saying it has raised $140M in total capital.

PacketFabric Launches Cloud Router

socalTECH

Culver City-based network products developer PacketFabric say it has released a new, "cloud router" product, which supports connecting multiple, 100Gbps cloud services, such as Amazon Web Services and Google Cloud. Pricing on the new product was not announced. PacketFabric's product helps companies move data at high speed between cloud providers.

EV Connect Expands Efforts In California

socalTECH

Los Angeles-based EV Connect, which operates a network of electric vehicle charging stations, says it is continuing to expand its efforts in California. According to the company, it is once again part of the Southern California Edison Charge Ready program, a $436M effort which is focused on accelerating charging infrastructure for multifamily, new construction, and businesses in SCE's territory.

Boundless Bio Picks Up $105M

socalTECH

San Diego-based Boundless Bio, a company developing therapeutics for treating cancer, has raised $105M in its Series B funding, the company said this morning. According to the company, the funding was led by Nextech invest and RA Capital Management, and also included new investors Fidelity Management & Research Company LLC, Redmile Group, Wellington Management, Surveyor Capital, PFM Health Sciences, and Logos Capital, along with existing investors.

Newegg Jumps Into Online Flower Delivery

socalTECH

Los Angeles-based electronics products retailer Newegg has--suprisingly--thrown its hat into the online flower delivery market for Mother's Day, saying it will offer up a way for its customers to send flowers for Mother's Day, after a online flower delivery test earlier this year. The company says it is shipping flowers from a location in Northern California.

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Pepperdine University Ties With 2U

socalTECH

Pepperdine University is using 2U to power a new, online Master of Public Policy and Leadership (MPPL) degree, according to 2U and keypath Education. Financial details of the win for 2U were not announced. 2U said the move is its first partnership with the Pepperdine University in the Public Policy area. 2U has an office in Los Angeles, and got its start in Los Angeles before its IPO in 2014, having launched with an online degree at USC's Rossier School of Education.

Guesty Grabs $50M For Short Term Rental Software

socalTECH

Los Angeles-based Guesty, a developer of property management software for the short-term rental market--including Airbnb, Booking.com, Agoda, Vrbo and TripAdvisor--has raised $50M in a Series D funding, the company announced this morning. The funding brings the company's total raised to $110M.

LIT Method Finds Funding

socalTECH

Los Angeles-based LIT Method, which offers fitness equipment and programs, said today that it has raised a round of funding. The funding came from Marcy Venture Partners (MVP), the venture capitalist firm co-founded by Shawn "JAY-Z" Carter, Jay Brown, and Larry Marcus, as well an investment from former Los Angeles Dodger Adrian Gonzalez. LIT Method was co-founded by Justin and Taylor Norris.

The Honest Company Sets Anticipated IPO Range

socalTECH

Los Angeles-based The Honest Company has set its anticipated IPO range, saying in a filing on Monday morning that it is now expecting to price its IPO at between $14.00 and $17.00 per share. The company has applied to list on the Nasdaq Global Select Market as HNST. The Honest Company said it is offering up 6,451,613 shares of its common stock in the offering, which is being underwritten by Morgan Stanley, J.P.

Snap Buys Pixel8earth

socalTECH

Venice, California-based Snap, the parent company of Snapchat, has acquired 3D image acquisition company Pixel8earth. The deal was reportedly worth $7.6M. Pixel8earth develops a crowdsourced, 3D imagery acquisition service, which allows people to help build out a an open, 3D map of the world--mapping into 3D space. Snap is reportedly incorporating the startup into its augmented reality efforts. acquisition merger snapchat snap reality augmented crowdsourced mapping pixel8 pixel8earth

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The Honest Company Names Two To Board

socalTECH

Los Angeles-based personal care, beauty, baby, and household products brand The Honest Company says it has named two new members to its board of directors. According to the company, it has named James White and Susan Gentile to the company's board, effective upon the company becoming a public company. James White is former Chairman, President and Chief Executive Officer of Jamba, Inc., and Susan Gentile is Chief Financial and Administrative Officer of H.I.G. Capital Management.

CareRev Connects With $50M

socalTECH

Venice, California-based. carerev venture capital healthcare health lifescience market marketplace

Venice 109

ZipRecruiter Files For IPO

socalTECH

Los Angeles-based ZipRecruiter, a provider of recruiting tools for companies, has filed for an IPO, saying it is looking to raise as much as $100M in a public offering. The company, led by founder and CEO Ian Siegel, plans to list on the New York Stock Exchange under the symbol ZIP. The company reported net income of 86.0M on revenues of 418.14M for the year ended December 31, 2020. The company's biggest investors are Institutional Venture Partners (IVP) and Wellington.

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PacketFabric Updates Cloud Router

socalTECH

Culver City-based network products developer PacketFabric say it has updated its "cloud router" product, which supports connecting multiple, 100Gbps cloud services, such as Amazon Web Services and Google Cloud. Pricing on the new product was not announced. PacketFabric's product helps companies move data at high speed between cloud providers.

ZipRecruiter Files For Direct NYSE Listing

socalTECH

Los Angeles-based ZipRecruiter, a provider of recruiting tools for companies, has filed for a direct listing on the NYSE, saying it is looking to raise as much as $100M in a public offering. The company, led by founder and CEO Ian Siegel, plans to list on the New York Stock Exchange under the symbol ZIP. The company reported net income of 86.0M on revenues of 418.14M for the year ended December 31, 2020. The company's biggest investors are Institutional Venture Partners (IVP) and Wellington.

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