Sat.Aug 13, 2022 - Fri.Aug 19, 2022

Stop managers from gaming the system!

Berkonomics

Does this really happen? Business unit managers are under lots of pressure to perform, and occasionally are tempted to step over the line finding ways to look better than reality reflects. Of course, this has never happened to you, and you have never done this in your past.

Snap Abandons Drone Dreams, Will Stop Developing Pixy

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Venice-based Snap appears to be abandoning its attempt to become a maker of selfie-snapping drones, according to the Wall Street Journal. According to the report, Snap CEO Evan Spiegal said that the company will "no longer develop" the Pixy selfie-snapping drone line, although it will continue to sell the product on its website. snap drone pixy selfie snapchat social

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10 Tactics For Driving Disruptive Startup Innovations

Startup Professionals Musings

How is it that only a few business leaders and entrepreneurs seem to drive exceptional results and disruptive innovation in this rapidly changing market economy (marketquake)? These few seem more adept at executing market and technology turns, not just incremental evolution.

Aero raises $65M for its semi-private airline

TechCrunch

Aero Technologies , which describes itself as a “next-generation air travel company” which currently operates on a limited number of routes in the U.S.

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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.

GrayMatter Robotics Raises $20M

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Los Angeles-based GrayMatter Robotics, a developer of artificial intelligence and robotics technology, has raised $20M in a Series A investment, according to the company. The funding was led by Bow Capital and also included B Capital Group, Calibrate Ventures, OCA Ventures, Pathbreaker Ventures, Stage Venture Partners, and 3M Ventures, plus Swift Ventures. The company said the new funding will go towards growth and expansion, including expanding its team.

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7 Risks Of Not Leveraging Team Member Data Analytics

Startup Professionals Musings

Even after many years mentoring entrepreneurs and advising businesses, I continue to be surprised by the primary focus on products and processes, and the often incidental attention to hiring and nurturing the right people.

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More Trending

6 Information Surges Raise Huge Startup Opportunities

Startup Professionals Musings

A tidal wave of valuable data is surging from the Internet and connected devices today, and the volume is growing exponentially each year.

10 Tips On Self-Promotion To Solidify Your Leadership

Startup Professionals Musings

During my many years of mentoring professionals and entrepreneurs in business, I more often see people focusing on how to get their ideas heard , than how to promote themselves.

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Kofax Completes Ephesoft Acquisition

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Irvine-based document management software developer Kofax--which is now owned by private equity investors TA and Clearlake Capital--has completed its acquisition of Ephesoft, a developer of enterprise document processing software. Financial details of the transaction have not been announced. The companies said the deal will add to Kofax's go to market and document processing solutions. ephesoft equity private acquisition merger software automation document clearlake kofax

Drata Expands Offerings

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San Diego-based security and compliance automation software developer Drata--which is venture backed by ICONIQ Growth, Alkeon Capital, Salesforce Ventures, GGV Capital, Cowboy Ventures, Leaders Fund, Okta Ventures, SVCI, and SV Angel--said Friday morning that it has launched a new product. According to the company, its new Risk Management software helps its customers manage end-to-end risk programs by continuously monitoring, identifying, assessing, and treating risks.

Rivian Angers Customers Over Removal Of Entry Level Truck Option

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Electric truck maker Rivian apparently has angered many of its pre-order customers after it cancelled the entry level version of its R1T truck--which raises the prices over its electric truck by over $6,000. According to The Verge, the company recently emailed its customers saying it is cancelling its base "Explore" model, which started at $67,500, and would force customers to either cancel their orders or upgrade to its $73,000 "Adventure" trim.

Google's Venice Offices Hit By Large Covid Outbreak

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In a demonstration of the difficulties facing high tech companies in getting back to "normal" after the pandemic, Google has been hit by a large outbreak of COVID at its Venice address, according to Deadline. The outbreak--disclosed through numbers from the Los Angeles County Public Health department--apparently included a total of 159 infections at Google's fancy Frank Ghery-designed offices in Venice.

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Zest AI Inks Partnership With Equifax

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Los Angeles-based artificial intelligence software developer Zest AI says it has inked a new partnership with Equifax, which will allow credit unions to access Zest AI's information alongside Equifax consumer credit reports. Financial details of the partnership were not announced. According to Equifax, the distribution deal will allow credit unions to use data sourced from Equifax to approve more applicants with greater speed, especially those who have been traditionally underbanked.

Platform Sciences Names CFO, CRO

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San Diego-based connected vehicle technology developer Platform Science says it has named two new executives this morning, appointing Greg Ivancich as Chief Financial Officer and Gerald Choung as Chief Revenue Officer. Ivancich was previously CFO of Saban Capital Group, and also served at EQT Exeter, Barclays, and Morgan Stanley. Choung was most recently CRO of ActiveState, and also served at Qualcomm, Microsoft, and Oracle.

Crypto.com Laying Off Hundreds, Says Report

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Crypto.com, the cryptocurrency company which now has the naming rights to what was the Staples Center in Los Angeles, has been laying off hundreds of employees, according to a report from The Verge. The Verge said that it's "difficult to estimate their exact number" and that employees at the company report that people have been quietly "disappearing from our internal slack or scheduled meetings" with no announcement. crypto arena cryptocurrency layoff jobs

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Activision Accused Of Spying On Workers

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Santa Monica-based Activision Blizzard continues to face controversey, this time, with a charge that the company spied on workers during a July walkout. The Communications Workers of America union (CWA) has filed an unfair labor practice charge against the firm, according to a report from Engadget. activision blizzard harassment lawsuit labor

Triller Sued For $28M For Failing To Pay For Music Series

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Los Angeles-based Triller, which competes against TikTok, has been sued by artists Swizz Beatz and Timbaland, for failing to pay for the music series Verzuz. According to the lawsuit, Triller still owes Swizz Beatz and Timbaland $28M, for a deal where Triller purchased music webcast Verzuz in January of 2021. triller lawsuit music verzuz swizz beatz timbaland

ATTOM Acquires Estated

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Irvine-based real estate data provider ATTOM has acquired Estated, a property data licensing company, according to ATTOM. Financial terms of the acquisition were not announced. ATTOM said the acquisition "further enhances our value proposition". The acquisition follows several other merger and acquisition moves by ATTOM recently, including the acquisitions of GeoData Plus, Home Junction, and the divesture of RealtyTrac. ATTOM is led by CEO Rob Barber. Joshua Fraser is CEO and Founder of Estated.

Clearlake Capital-Backed Discovery Education Buys DoodleLearning

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Discovery Education, a developer of educational software and content--which is backed by Santa Monica-based private equity investor Clearlake Capital--has acquired DoodleLearning, a developer of educational software. Financial terms of the deal were not announced by the company. DoodleLearning is based in the United Kingdom, and provides personalized math and English teaching tools. Discovery Education is led by CEO Scott Kinney.

Arrive Powers Resale, Rental Program For Eddie Bauer

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Santa Monica-based Arrive reports today that it is powering a new, resale and rental program for Eddie Bauer. According to the two companies, Eddie Bauer's new (Re)Adventure program offers up refurbished items at reduced prices, and also allows consumers to rent popular products for adventures. Arrive, led by CEO and co-founder Rachelle Snyder, provides both a branded website as well as services to restore, grade, and list products for resale from brands.

GoGuardian Adds Education Vet To Board

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Los Angeles-based educational technology developer GoGuardian announced today that it has added Elisa Villanueva, the CEO of Teach for America, to its board of directors. Villanueva was named co-CEO of Teach for America in 2013, and has held the role of sole CEO since 2015. GoGuardian develops educational software for the K-12 educational market. goguardian executive educational technology saas techforamerica elisa villanueva

Viasat Gets Win With Fractional Jet Operator

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Carlsbad-based satellite communications provider Viasat says this morning that it has scored a win with a fractional jet operator, Airshare, for its high speed in-flight connectivity systems. According to Viasat, Airshare will install its Ka-band satellite systems on its new Bombardier Challenger 350 planes, as well as future Challenger 3500 deliveries. Financial impact of the win was not not announced. viasat fractional satellite communications

Cornerstone OnDemand Completes Sumtotal Buy

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Santa Monica-based Cornerstone OnDemand, the maker of human resources software whcih is now owned by private equity firm Clearlake Capital Group, says it has completed its acquisition of SumTotal, a provider of learning and human capital management software. The deal is worth approximately $200M. SumTotal was previously part of Skillsoft. The companies said that Jim Gill, EVP Americas at Cornerstone will serve as the General Manager of Cornerstone's SumTotal business unit.

Rocket Lab Plans 30th Launch

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Long Beach-based Rocket Lab, the rocket developer providing satellite launch services, says it is getting set for its 30th launch of its Electron rocket. According to the company, it will be delivering a satellite into space for Japanese Earth-imaging satellite constellation operator Synspective. Rocket Lab said the launch will be its 150th payload delivered to space. The company did not say how much it is charging for the launch, which will be its third for Synspective.

Startup Founders Arrested For Defrauding Qualcommm

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Four people, including two San Diego residents, have been arrested and charged with $150M in fraud, related to the acquisition of a startup by San Diego-based Qualcomm, according to the Department of Justice. According to the DOJ, Karim Arabi ("Karim") and Ali Akbar Shokouhi have been arrested in San Diego, and Sanjiv Taneja was arrested in the Northern District of California, with a fourth defendant arrested in Canada, where she faces proceedings to extradite her to the United States.

Faraday Future Finds $52M In Convertible Note

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Los Angeles-based electric vehicle developer Faraday Future announced this morning that it has raised $52M in a new financing facility, which it claims will give up a total potential funding of as much as $600M. According to the company, the convertible note funding was led by funds managed by ATW Partners. Faraday Future said the placement agent on the offering was Citi, with legal advice from Sidley Austin LLP; the advisors to ATW Partners were Blank Rome LLP and Ellenoff Grossman & Schole LLP.

Technosylva Snags Private Equity Funding For Wildfire Risk Analysis

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La Jolla-based Technosylva, which is developing wildfire simulation modeling software, said this morning that it has received a strategic growth investment from private equity investor TA. Financial terms of that investment were not announced. Technosylva says its customers include California Department of Forestry and Fire Protection (CAL FIRE), Pacific Gas & Electric, San Diego Gas & Electric, Southern California Edison and PacifiCorp.

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Leucadia Therapeutics Names CFO

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San Diego-based Leucadia Therapeutics announced this morning that it has appointed its first CFO, Edward (Ned) Shadek, Jr. According to the company, Shadek has been at Putnam Investments for 17 years, including six years as senior managing director and deputy head of investments and six years as chief investment officer of small/mid cap equities, and also serving as partner and director of portfolio strategy at Newbold's Asset Management. He also served early on in his career at Price Waterhouse.

Snapchat Claims 1 Million Snapchat Plus Users

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Venice, California-based Snap says it now has more than one million users for its new Snapchat+ service, its premium, paid version of Snapchat. The new service--launched in June--provides things like ability to reply to celebrities, new emoji and Bitmoji features, and more. Snapchat+ starts at $3.99 a month. snapchat plus social media snap socialmedia

HyperX Inks Endorsement Deal With DJ

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Fountain Valley-based HyperX says it has inked a "Brand Ambassador" deal with a well known DJ, record producer, and songwriter, Zedd. Financial details of the deal were not announced. According to HyperX, it will serve as Zedd's "Official Gaming Audio and Gaming Microphone Supplier", which will include custom and limited-edition headsets and peripherals. hyperx brand ambassador gaming