Sat.Jan 06, 2018 - Fri.Jan 12, 2018

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What’s a company board good for, anyway?

Berkonomics

Some of you have gotten along forever without a board of directors, or used your spouse as the “other” board member from the start. But there are some very good reasons to build a great board composed of some outside members. And good board members can add real value to you and the company. In other posts, we cover legal responsibilities of a board, how to pay board members, the limits of their responsibilities, dealing with under-performing or “noisy” board members, and more.

Company 243
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Silicon Beach Report Jan. 8: GoPro layoffs, Grindr founder leaving, new lights for Ring’s smart doorbells

L.A. Business Journal

GoPro announced layoffs and cost-cutting as the camera and software company exits the drone business; video doorbell maker Ring has acquired light maker Mr. Beams; and the founder of dating app Grindr is stepping down following the company’s acquisition by a Hong Kong-based mobile gaming company.

Layoffs 170
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Report: Super-Secret SpaceX Payload, Zuma, A Total Loss

socalTECH

A report in the Wall Street Journal this morning says that the highly secret rocket mission launched by Los Angeles-based SpaceX on Sunday was presumed to be a total loss, and failed to reach orbit. According to that report, Zuma the billion dollar spy satellite plummeted back into the atmosphere after failure to separate from the second stage of the SpaceX Falcon.

SpaceX 147
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SkySpecs Snags $8M to Expand Drone-Powered Turbine Inspection Service

Xconomy

Drone startup SkySpecs announced this week that it has raised an $8 million Series B funding round. The investment in the Ann Arbor, MI-based company was co-led by Germany’s Statkraft Ventures , the Capital Midwest Fund , and UL Ventures , and also included contributions from returning investors such as Huron River Ventures and Venture Investors. A lot has happened since we last caught up with Danny Ellis , SkySpec’s co-founder and CEO, in 2015.

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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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5 Tips For Attracting Female Customers

Tech.Co

On a global scale, more women are in the workforce, and within the household they drive 70-80 percent of all consumer purchasing decisions. Women also have a “multiplying effect” in that they make purchasing decisions not only for their immediate and extended family, but are also influential with other women and friends. In the Harvard Business Review Female Economy 2009 report, women purchasing power was predicted to control about $28 trillion in annual global consumer spending, if not more.

Tips 71
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Kunlun Group Limited Completes Acquisition of Grindr

L.A. Business Journal

Hong Kong-based mobile gaming company Kunlun Group Limited has closed on its purchase of the remaining stake of Grindr LLC, a gay men’s dating app located in West Hollywood’s Pacific Design Center, the companies announced Monday.

More Trending

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After 2nd Bet on Familiar Drug, Impact Bio Lands $1B Celgene Buyout

Xconomy

Celgene (NASDAQ: CELG ) has kicked off J.P. Morgan week—the annual healthcare investment gathering in San Francisco—with a blockbuster deal, acquiring privately-held Impact Biomedicines for $1.1 billion upfront in cash. More is in the offing if Impact’s drug fedratinib passes a series of regulatory and sales hurdles. The deal rewards the determination of San Diego scientist John Hood (pictured), who helped bring fedratinib forward in the previous decade, only to see the FDA hal

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Girls in STEM and Cyber Security Among Top Startups at Eureka Park 2018

Tech.Co

In a study by the US Department of Commerce , women in STEM jobs earn 33 percent more money than women in non-STEM positions. With computer science jobs predicted to increase by 22 percent by 2020 according to the U.S. Bureau of Labor Statistics (BLS) , where are these women to fill these positions? In a report by the National Student Clearinghouse only 18 percent of women graduated with a science degree in 2014.

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Pontifax AgTech Leads $9.5 Million Round in Biostimulant Producer Inocucor Corp.

L.A. Business Journal

Santa Monica’s Pontifax AgTech led the second closing of a $9.5 million Series B round in Denver agricultural technology company Inocucor Corp., the companies announced Jan. 8.

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j2 Global Names Three Execs

socalTECH

Los Angeles-based j2 Global has named three new execuives, the company said Monday afternoon. According to j2, it has named Harmeet Singh as President of Cloud Services; Steve Horowitz as President of Ziff Davis; and Joey Fortuna as Chief Technology Officer. Singh has been at j2 since 2013, and prior to that was at SingerLewak LLP. Horowitz has been at Ziff Davis since 2010, and previously served at Bankrate, AOL, and Yahoo.

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After Boom Years, Starburst and Podium May Signal Big Data’s Future

Xconomy

It seems like ancient history now, but “big data” was once a hot field with startups, investors, and big companies all buzzing with hype. Then the tech industry moved on, and marketers crowned data science and machine learning the Next Big Things (at least until blockchain takes over). Of course, big data never really went away—though many companies did.

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Clean Water Wins at CES Startup Night 2018

Tech.Co

On the eve of the highly anticipated CES 2018, a crowd of tech enthusiasts packed the Gold Spike Hotel in Downtown Las Vegas Fremont District to enjoy signature cocktails and networking opportunities, while listening to fifteen of the top startups from Eureka Park pitch as they competed to be the CES Startup Night winner, which came with a grand prize of a ticket into the Top 100 Startup of the Year Semifinalists at Innovate Celebrate 2018.

Startup 70
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Internet Brands to Acquire Lawyer Search Website Avvo

L.A. Business Journal

Internet Brands has reached an agreement to acquire Avvo Inc., an online directory of law firms and legal services, for an undisclosed amount, according to a press release.

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Interlink Electronics Names New CFO

socalTECH

Westlake Village-based Interlink Electronics said on Wednesday afternoon that it has named David S. Burnett as its Chief Financial Officer. Burnett had previously served as CFO of the company, from August 2016 to April of 2017. Interlink says Burnett has also been appointed CFO of BKF Capital Group, and OTC traded company which owns 11.93 percent of the company.

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E-Commerce Firm Black Rifle Coffee Has Expansion in Its Sights

Xconomy

There wasn’t a lot that Evan Hafer could control on his half-dozen deployments to Iraq and Afghanistan as a Green Beret and CIA contractor. But the one thing he could do something about was the terrible coffee. “I started roasting my own coffee and taking it with me overseas,” he says. “I set up a coffee shop for me and my buddies downrange.” When he rejoined civilian life in 2014, Hafer says he wanted to transition into working with something for which he already had a passion.

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10 New Venture Approaches That Can Jeopardize Success

Startup Professionals Musings

Starting a new business is a serious undertaking. Yet many aspiring entrepreneurs I know approach it as a fun project, get-rich quick scheme, or perhaps an expensive hobby. Others quit their day jobs and commit everything to their new passion, without regard for their own well-being, or the welfare of others around them. Neither of these approaches bodes well for success.

Startup 63
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Silicon Beach Report Jan. 10: Overwatch League-Twitch Deal Worth at Least $90 Million

L.A. Business Journal

Overwatch League-Twitch deal worth at least $90 million; artificial intelligence startup Oben raises $10 million; and Survios to open virtual-reality arcade in Torrance.

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REX Raises $15M Funding

socalTECH

Woodland Hills-based REX Real Estate Exchange , a startup which helps homeowners sell their homes without using an MLS, has raised $15M in a Series B funding. According to REX, the funding included investments from Scott McNealy, co-founder and former chief executive officer, Sun Microsystems; Dick Schulze, founder, Best Buy; Gordon Segal, founder, Crate and Barrel; Amit Singhal, former senior vice president of search, Google; Jack Greenberg, former chief executive officer, McDonalds; and others

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E-Commerce Innovations in the Mix at Consumer Tech Conference

Xconomy

Alexa is now mobile. Seattle-based e-commerce giant Amazon (NASDAQ: AMZN ) is expected to unveil its first augmented-reality glasses to pair with Alexa, its digital assistant, at the Consumer Electronics Show, or CES, in Las Vegas this week. The glasses were developed for Amazon by Vuzix , a Rochester, NY -based wearable tech company, and can communicate with Alexa and display information in the wearer’s field of view.

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6 Steps To Empowered Employees And Unstoppable Growth

Startup Professionals Musings

As a business advisor, one of the things I see most often as a drag to productivity and growth is employees who, despite their best efforts, can’t change things that they know are hurting the company. They want to grant deserving customers special concessions, or fix a broken process, but are convinced it may cost them their job, or find that no one above them seems to care.

Startup 62
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Silicon Beach Report Jan. 11: Venture Capital Investment to L.A. Region Falls Again

L.A. Business Journal

Venture capital investment to L.A. region falls again; Internet Brands to acquire lawyer search website Avvo; and SpaceX delays commercial crew test flights to latter half of 2018.

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QAD Offline Due To Massive Mudflow Disaster In Montecito

socalTECH

Santa Barbara, California-based ERP software developer QAD has lost its website--and has potentially undergone either mudflow or water intrusion--due to the massive disaster unfolding in Montecito, California. QAD's headquarters are immediately in the area in Santa Barbara where at least 8 people are dead, where hundreds are being rescued, and neighborhoods wiped out due to a mudflow off fire-stripped hills above Montecito, due to the massive Thomas Fire.

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Toyota, Ford, Aptiv, Baidu Lead Crowd Pushing Mobility at CES

Xconomy

In the past, the tech conference CES has primarily highlighted consumer electronics and other cool gadgets, but as automakers continue their quest to be taken seriously by the tech industry, the Las Vegas show held every January has increasingly become the venue of choice for car companies that want to show off their latest autonomous and electric vehicle developments.

Mobile 71
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How To Mentor Millennials Into Business Leadership

Startup Professionals Musings

Millennials have come a long way in business since I started writing about them almost ten years ago. They started out as that spoiled generation of kids, born between about 1982 and 2004, who had everything, and could care less about business. Today they are in every business, and will likely comprise 50 percent of the workforce by 2020. Their success is now vital to our success.

Mentor 60
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Silicon Beach Report Jan. 12: Snapchat’s Big Redesign Rated Negatively by 83% of Reviews

L.A. Business Journal

Snapchat’s big redesign rated negatively by 83 percent of reviews; Pentagon refuses to answer questions about failed $1 billion Zuma satellite launch; and The IMDb Show launched.

Report 100
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ObEN Finds $10M More For Avatar Technology

socalTECH

Pasadena-based ObEN , which is developing intelligence avatar technology which allows users to create highly realistic avatars for use in augmented reality and virtual reality environments, has raised $10M more in funding, the company said this morning. The funding came from K11. According to ObEN, the new funding brings its total raised to more than $23.7M.

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Beyond the Demo: 2018 Could Be Year for Longer, Profitable VR Content

Xconomy

René Pinnell says he and his wife Selena Pinnell were “blown away” by the virtual reality projects their friends were creating in 2014, so they looked for an entrepreneurial niche that would allow them to support such artists. That year the couple, both trained in design, founded a startup in San Francisco, then called KaleidoscopeVR. Its first mission was to launch a Bay Area VR festival to showcase works in the new immersive art forms.

Content 71
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10 Step Checklist To Rank Your Startup Ideas

InfoChachkie

A version of this article first appeared in Forbes. Steven Johnson, author of How We Got To Now , analyzes technological breakthroughs, looking for patterns that allow entrepreneurs to identify “How We’ll Get To Tomorrow.” One of the key myths that he destroys is that of the lone inventor who experiences a Eureka moment. Slow Hunches Lead To Breakthroughs.

Ideas 69
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Silicon Beach Report Jan. 9: Tesla Hits the Roof; NASA to Collect Earth Science Data; and Eastman Kodak Gets Into Cryptocurrency

L.A. Business Journal

Electric car company Tesla has begun to install its first solar roof tiles for customers who placed reservations beginning last May. NASA has a new pilot program to gather Earth science data. And Eastman Kodak is introducing its own digital currency as part of the launch of a platform for photographers looking to license their photos.

Platform 100
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SpaceX Sends Secret Zuma Payload Into Space Successfully

socalTECH

Hawthorne-based SpaceX successfully sent another payload into space on Sunday evening, putting a super-secret, U.S. government payload named "Zuma" into orbit from Cape Canaveral Air Force Station. SpaceX launched the payload into space at 5:00 p.m. PST, and shortly after the launch, landed the first stage of the Falcon 9 rocket used in the launch in Florida.

SpaceX 124
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LendingPoint Adds Point-of-Sale Financing with LoanHero Buyout

Xconomy

LendingPoint , an online provider of direct loans to consumers, has acquired LoanHero , the San Diego fintech with technology that enables merchants to extend instant financing to consumers at the point of sale. Financial terms of the buyout were not disclosed in an announcement Thursday. The acquisition enables LendingPoint, which focuses on near-prime consumers (with FICO credit scores from 580 to 700), to extend its financial software and services to consumers making a major purchase, whether

Sales 68
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10 Startup Strategies To Minimize Cash Flow Disasters

Startup Professionals Musings

The “valley of death” is a common term in the startup world, referring to the difficulty of covering the negative cash flow in the early stages of a startup, before their new product or service is bringing in revenue from real customers. I often get asked about the real alternatives to bridge this valley, and there are some good ones I will outline here.

Startup 53
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Ring Buys Mr. Beams To Power New Security Lighting Line

socalTECH

Santa Monica-based Ring said Monday that it has acquired Mr. Beams , a developer of LED lighting technology. Financial details of the acquisition were not announced. Ring said it will use the acquisition to power its new Ring Beams product line, a line of security lights that communicate with Ring devices. Ring said the new products include spotlights, pathway lights, and deck lights, will be available in mid-2018.

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Southern California Edison Plans New EV Transportation Pilots

socalTECH

Southern California Edison said late Thursday afternoon that it has received approval to launch four new, electric vehicle transportation pilots, which will help expand the adoption of electric vehicles. According to Edison,the four pilot projects--worth around $4M each--were approved by the California Public Utilities Commission, and are part of a much larger effort to expand the electrification of cars, buses, medium- and heavy-duty trucks, and industrial vehicles and equipment.

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IMDb Launches Its Own Weekly Show Out Of Los Angeles

socalTECH

Online movie information site IMDb --which is owned by Amazon.com--said Thursday that it is launching its very own, weekly show, which will be produced and filmed in Studio City. According to IMDb, the show will debut each Thursday on its website, its mobile apps, and social channels, and feature filmmaker and podcaster Kevin Smith, Tim Kash, and Kerri Doherty.

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Acorns Gets Investment From TPG

socalTECH

Irvine-based micro-investing app developer Acorns said this morning that it has received an investment from private equity investor TPG, via TPG's The Rise Fund, which is focused on companies in the social and environmental area. According to Acorns, the investment by TPG's Rise Fund is the first in a fintech company. Size of the investment was not announced by the company.

Invest 113