Friday, July 28, 2006SEC Investigates Activision Over Stock OptionsSanta Monica-based Activision is reporting that it has received a letter of informal inquiry from the Securities and Exchange Commission over its stock option grant practices, making it the latest firm caught up in an ever-growing stock options backdating scandal. Activision reported in a SEC filing Friday that the SEC has requested certain documents and information related to its stock option grant practices. The firm said that its board of directors has appointed a special sub-committee of ind (More info...)
posted on Friday, July 28, 2006(Full story)
PwC MoneyTree Breakdowns for Southern CaliforniaPricewaterhouseCoopers and the National Venture Capital Association
released their quarterly MoneyTree results earlier this week, here are the local venture capital breakdowns for Southern California:
Total invested in Southern California in Q2: $651.2M
Total invested in Los Angeles County: $253.1M
Total invested in Orange County: $190.7M
Total invested in San Diego County: $207.3M
Biggest LA County Deal: Amp'd Mobile, $41.6M
Biggest Orange County Deal: Cam (More info...)
posted on Friday, July 28, 2006(Full story)
Western Digital Sees Profit, Initiates Stock Option Grant ReviewLake Forest-based Western Digital, a manufacturer of disk drive and other storage products, announced today that it has formed a special committee of its board of directors to review its stock option grants, on the heels of its earnings announcement. Western Digital reported net income of $119.9M in its fiscal fourth quarter, up from $41.2M a year earlier. According to Western Digital, the firm initiated the voluntary review of its grants, and has retained independent counsel to review grants fr (More info...)
posted on Friday, July 28, 2006(Full story)
Qualcomm Taps SMIC For Semiconductor TestSan Diego-based Qualcomm is tapping a Chinese firm for fabrication and test of its ICs, the firm said yesterday. Qualcomm said that it is in a strategic agreement with Semiconductor Manufacturing Corporation (SMIC), to use SMIC's BiCMOS integrated circuit manufacturing processes in Tianjin, China. Qualcomm said that the agreement will allow the firm to streamline its operations. The move is part of a $100M plan to invest in early- and mid-stage Chinese companies.
posted on Friday, July 28, 2006(Full story)
Morpheus Software Release Digital Photo SoftwareMorpheus Software, a startup in Santa Barbara, announced Thursday that it has released three new software tools for altering digital photos. The company has launched Morpheus Photo Warper, a tool for distorting images, Morpheus Photo Mixer, software for blending photos together, and Morpheus Photo Animation Suite 3.0, the latest version of its photo morphing software. The company's tools are used by people to add animation to online videos and social networking sites such as MySpace, Flickr, and (More info...)
posted on Friday, July 28, 2006(Full story)
Jambo Gets Win At Informa ResearchCalabasas-based Informa Research, a provider of services to the real estate industry, is tapping Agoura Hills-based Jambo's pay-per-call advertising service, Jambo said this week. Informa will use Jambo's pay-per-call solutions to connect consumers and mortgage brokers. Informa's services are used to provide mortgage interest rate information to web sites like MSNMoney.com, and The Motley Fool. Jambo's pay-per-call advertising services are used to connect local advertisers with web consumers via (More info...)
posted on Friday, July 28, 2006(Full story)
GoTV Taps Entertainment Industry For ExecsSherman Oaks-based GoTV Networks, a startup focused on mobile content, has hired two new executives from the entertainment industry. GoTV said this week that it has hired Erika Lewis as VP Development, and Chris Greenleaf as VP, Comedy and Entertainment. Lewis was most recently at Tom Lynch Company, respinsible for feature and television development. Greenleaf has worked on production on shows on CBS, NBC, USA Networks and Comedy Central. GoTV is backed by Bessemer Venture Partners and Charles R (More info...)
posted on Friday, July 28, 2006(Full story)