Sat.Feb 02, 2019 - Fri.Feb 08, 2019

A Deep Dive into What Has Really Changed in Venture Capital

Both Sides of the Table

I’ve heard a lot of people question whether there is too much money in venture capital chasing too few great deals. “We’re We’re in a new tech bubble!” some have pronounced. Valuations are out of control” is the mantra of others.

Machinima Lays Off Most Employees, Ceases Operations, Say Reports

socalTECH

Machinima , which had been the poster child for Southern California's multi-channel-network (MCN) boom, has laid off most of its employees and ceased its operations , according to reports. The shutdown comes after a reorganization of the digital properties of AT&T, as well as its Otter Media subsidiary. Machinima had been acquired by Warner Bros. in 2016, in a deal then reported as worth less than $100M.

Report 118

Maxwell, Struggling Battery-Technology Maker, to Sell to Tesla

Xconomy

Battery-technology business Maxwell Technologies has agreed to be acquired by Silicon Valley electric car company Tesla (NASDAQ: TSLA ) in an all-stock deal valued at about $218 million, the San Diego-based company announced Monday. Maxwell (NASDAQ: MXWL ) said Palo Alto, CA-based Tesla would buy its shares at $4.75 apiece, a 55 percent premium over its stock price as of market close Feb.

Can you become a master negotiator?

Berkonomics

Think you don’t use negotiation most every day of your life? From the time we learn to manipulate our parents from the crib to today, we learn to negotiate to obtain our wants and needs. As we grow, we negotiate constantly with our parents, then with our peers.

Why Stacey Abrams got the First Standing Ovation in #UpfrontSummit History

Both Sides of the Table

Stacey Abrams Interviewed by Lisa Borders, CEO of TimesUp This past week Stacey Abrams spoke at The Upfront Summit in a 25-minute talk followed by a breakout town hall discussion. You may know that later today she will deliver the response to The State of the Union speech by the president.

Study 246

Interview With Jamie Montgomery, March Capital Partners On The Firm's New Fund

socalTECH

Santa Monica-based venture investor March Capital Partners (www.marchcp.com) announced last week that it has raised a second fund, worth $300M. To learn about the new fund, we sat down with Jamie Montgomery , one of the fund's co-founders, to hear about March Capital's strategy and the new fund. Tell us a little bit about the new fund? Jamie Montgomery: It's interesting, as you grow, you get bigger and more focused. We found out what we're really good at, and we're drilling into those areas.

More Trending

Can you become a master negotiator?

Berkonomics

Think you don’t use negotiation most every day of your life? From the time we learn to manipulate our parents from the crib to today, we learn to negotiate to obtain our wants and needs. As we grow, we negotiate constantly with our parents, then with our peers.

Want to See What all the Fuss was About? The Shocking Opening to the Upfront Summit?

Both Sides of the Table

As you may know we run an annual conference called The Upfront Summit in which we try to bring together the world of investors, entrepreneurs and interesting people from the world of sports, politics, music & film.

Ice Energy Completes First Phase Of Big Deployment

socalTECH

Costa Mesa-based Ice Energy , which develops energy storage technology based on storing energy for air conditioning in the form of ice, has completed the first phase of a big deployment for Southern California Edison (SCE), the company announced on Wednesday. According to Ice Energy, it has installed 100 of its "Ice Bear" units across SCE's service territory, the first stage of a 21.6 MW energy storage contract it has with SCE. The company says the first units have a total capacity of 1.9

Demand 122

Start-Up Options for Rapid Development, Funding, and Commercialization

SoCal Tech Calendar

Tuesday, February 12, 2019 -- Start-Up Options for Rapid Development, Funding, and Commercialization. LAVA Healthcare. Is VC funding the only way to develop and grow your company? Have you heard of accelerators, incubators, angles, and other resources for rapid development, funding, and growth of your start-up? Attend our LAVA event on February 19th as our distinguished panel will share their expertise and insight.

LAVA 100

Alector IPO Banks $176M to Test Alzheimer’s Drugs in Clinical Trials

Xconomy

Alector, a company taking an immunotherapy approach to Alzheimer’s disease and other brain disorders, has raised approximately $176 million in an initial public offering. The South San Francisco, CA, biotech sold 9.25

Radicle Growth Puts $250K Into Leaf Agriculture

socalTECH

San Diego-based Radicle Growth , a new, seed-stage investor focused on the agtech and food technology sector, said this morning that it has invested $250,000 in Leaf Agriculture , a pre-seed company developing application programming interfaces (APIs) between agtech products. Radicle Growth said Leaf Agriculture is developing an API product that facilitates fast, easy and secure data transfer between agtech platform partners through a single point of access.

Tesla Buys San Diego's Maxwell Technologies For Energy Storage Tech

socalTECH

Tesla Motors , the electric car-and-solar panel company led by Elon Musk, is acquiring San Diego-based technology developer Maxwell Technologies , in a deal worth approximately $218M, the companies announced on Monday. ACcording to the two, the merger agreement calls for Tesla to pay $4.75 per share for all of the outstanding stock of Maxwell Technologies. Maxwell is publicly traded on the Nasdaq as MXWL.

MomentFeed Names SVP Engineering

socalTECH

Santa Monica-based MomentFeed , the developer of software that helps multi-location brands manage the mobile experience for their customers, has named Avik Dey as its new Senior Vice President of Engineering, the company said this morning. Dey was most recently Executive Vice President, Technology at Marin Software, and also served as Worldwide Director, Big Data Product/Apache Engineering at Intel Corporation, in addition to serving at Yahoo! and eBay. READ MORE>>.

Yahoo 122

CBRE Group Buys Data Center Technology Provider Romonet

socalTECH

Los Angeles-based commercial real estate services giant CBRE Group announced this morning that it has acquired UK-based Romonet Limited , a provider of software, technology, and consulting services for the large global data center market. Financial details of the acquisition were not announced. According to CBRE Group, Romonet's team of professonals will join CBRE as part of the acquisition. Romonet was foundee in 2008, and was founded by Zahl Limbuwala and Liam Newcombe.

Kyriba Hits $110M In Revenues, Promises Future Growth

socalTECH

San Diego-based finance and treasury management software developer Kyriba announed today that it has surpassed $110M in revenues in 2018, and says it expects to grow 40 percent in the new year. The privately held company said the revenue and growth were driven by more than 229 new enterprise clients it signed in 2018.

EasyPay Finds $50M In Credit Facility

socalTECH

Carlsbad-based EasyPay Finance , a provider of consumer financing for automotive service and repairs, has raised $50M in a credit facility, the company announced this morning. The funding came from Ares Management Corporation. According to the company, it will use the new funding for growth, developing new financial technology, and other efforts. EasyPay Finance said the credit facility is expandable to $100M, subject to lender consent.

Harry Potter: Hogwarts Mystery Rolls Out Special Adventure

socalTECH

Los Angeles-based mobile game studio Jam City is continuing to enhance its popular game title, Harry Potter: Hogwarts Mystery , saying this morning that it is launching a new "side quest" within the game, called the Celestial Ball. The new adventure will focus on "The Celestial Ball", a social event focused on a virtual formal dance. Jam City said activities include inviting friends to the ball, choosing their own outfit, and quests to help others in preparation of the ball.

Interview With Brian McCarthy, Dentistry.com

socalTECH

How do you take and create an entrepreneurial environment, within a big corporation? We sat down with Brian McCarthy , SVP of Dentistry.com (www.dentistry.com), a startup within a much larger company Futuredontics, which itself is a part of a big company called Sirona.

Tech Coast Angels Get Big Exit At Parcel Pending

socalTECH

The Tech Coast Angels (TCA), Southern California's big angel network, says it has seen a successful exit in its investment in Parcel Pending , a provider of package management solutions. According to the TCA, its members realized an 80 percent IRR on their investment in Parcel Pending, after its $100M acquisition on January 22nd by Neopost. The Tech Coast Angels were part of the $1.25 million original funding of Parcel Pending in 2014.

Power Digital Marketing Picks Up Funding Round

socalTECH

San Diego-based Power Digital Marketing , a digital marketing agency has raised a round of funding, from private equity investor Periscope Equity. Financial details of the investment were not announced. Power Digital Marketing is led by CEO Grayson Lafrenz and co-founder Robert Rodrigues. The company says it offers up content marketing, SEO, paid marketing, social media marketing, and other related services. READ MORE>>. investment agency equity private capital venture marketing digital power

SEO 109

Kofax Buys Top Image Systems

socalTECH

Irvine-based software developer Kofax said this week that it is acquiring Top Image Systems Ltd , a developer of cloud- and premise-based applications use to manage "content-driven" business processes. Kofax is paying around $16M for Top Image Systems, which was based in Israel. Kofax said the acquisition will help it further advance the secure cloud capabilities of its platform. The deal is expected to close by the end of June. READ MORE>>. management business cloud software systems image kofa

CrowdfundX Acquired By Issuance

socalTECH

Los Angeles-based CrowdfundX , which provided direct-to-investor retail marketing of digital securities, said on Thursday that it has been acquired by Issuance , the developer of a private placement and capital formation platform. Financial terms of the acquisition were not announced. CrowdfundX was founded by Darren Marble, and offered up retail marketing of Reg A+ IPOs. The company said it marketed offerings to the NASDAQ (FAT Brands), NYSE (Myomo) and OTC Markets Group (Elio Motors).

GOAT Gets $100M From Foot Locker

socalTECH

Los Angeles-based footwear trading site Goat Group , founded by Eddy Lu and Daishin Sugano, has raised a big, $100M funding round from footwear retailer Foot Locker , the two announced on Thursday. According to the company, the move also will include exclusive shopping opportunities and joint efforts in Foot Locker's physical stores. New York-based Foot Locker said the strategic minority investment came through its subsidiary in 1661, Inc.

MyCivic Acquired By Tyler Technologies

socalTECH

Seal Beach-based MyCivic , a developer of apps used by local governments to engage with their citizens, has been acquired by Texas-based Tyler Technologies , Tyler Technologies said on Thursday. Financial details of the acquisition were not announced. MyCivic was founded in 2011, and employs 12. MyCivic's founder, T.J. Sokoll, becomes Vice President of Product Strategy within Tyler's Local Government Division.

HyperX Signs German Soccer Player Marco Reus A Brand Ambassador

socalTECH

Fountain Valley-based gaming products maker HyperX has signed up another big sports star as a brand ambassador, saying this morning that it has named Marco Reus , a German league football star, as its latest HyperX global ambassador. Financial details of the endorsement deal were not announced, however, HyperX said that Reus will exclusively wear its HyperX gaming headsets and its HyperX keyboards, mice and mousepads while gaming, streaming and on the road during the season.

CrowdStrike In Deal With Formula One Team Mercedes-AMG Petronas Motorsport

socalTECH

CrowdStrike , the cybersecurity software developer which has major operations in Irvine, says it has signed a partnership deal with the Mercedes-AMG Petronas Motorsport team, a FIA Formula One racing team According to CrowdStrike, it has entered a "global partnership" to protect the team from cyberattacks. CrowdStrike said Mercedes-AMG Petronas Motorsports will use its software and services at their facility in Brackley in Northamptonshire, UK and onsite at race and testing days around the world.

SpaceX Shifts Crew Dragon test Flight To March 2nd

socalTECH

Hawthorne-based SpaceX is shifting the first, test flight of its Crew Dragon vehicle to March 2nd, according to NASA, in what will be the first SpaceX test of its vehicle for launching astronauts to the International Space Station. SpaceX had originally been hoping to launch the first test flight in January.

SpaceX 109

Sonos CFO Giannetto To Retire

socalTECH

Michael Giannetto , who helped shepherd Santa Barbara-based Sonos through its IPO as its Chief Financial Officer, will be retiring from his position, Sonos said on Wednesday. According to Sonos, Giannetto told Sonos of his intent to retire on February 1st. Giannetto will remain at his post until the company finds a successor, according to the company.

Teledyne Completes Acquisition Of Unit Of Roper Technologies

socalTECH

Thousand Oaka-based Teledyne Technologies says it has completed its acquisition of the Scientific Imaging businesses of Roper Technologies , which included the acquisition of Princeton Instruments, Photometrics and Lumenera. The deal, which had been announced in December, was worth $225M in cash. Roper's Scientific Imaging businesses served the life sciences, academic research, and industrial imaging markets. READ MORE>>.