Friday, February 29, 2008Helio Continues To Bleed CashEarthlink, which along with SK Telecom is backing Los Angeles-based MVNO Helio, released the financial results of Helio Thursday as part of it quarterly earning report. According to a filing with the SEC, Helio had a net loss of $326.5M for 2007, on total revenues of nearly $171M for the year. Helio -- which recently shuffled its executive lineup -- now has an accumulated deficit of $560M. Helio's former CEO, Sky Dayton, stepped down from the position in January but remains chairman of the board (More info...)
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Clean Technology Investments Jump To $3B GloballyDow Jones VentureSource released numbers Friday showing that venture capitalists invested $3B in 221 clean technology deals worldwide in 2007. The report found that the number of dollars invested was a 43 percent increase over last year, where there was $2.1B and 173 deals. According to Dow Jones, the amount of investment matched the size of investments in the entire business/consumer/retail industry, representing 8 perecent of the total U.S. venture capital investment in 2007. California garner (More info...)
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Digital Map Products In Deal With LoopNetSanta Ana-based Digital Map Products, a firm which provides GIS mapping technology for web applications, said Thursday that it has been selected by online commercial real estate marketplace firm LoopNet. LoopNet will use Digital Map Products ParcelStream web service, to show properly boundary line information on the real estate website. Financial details of the win were not discussed. Digital Map Products, which is venture backed by the Keiretsu Forum and TVC Ventures, develops GIS products used (More info...)
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DTS Teams With Motherboard ManufacturerAgoura Hills-based DTS, which provides digital audio technology used for decoding of surround sound, said Friday that the firm is in a strategic agreement with motherboard manufacturer FOXCONN. According to DTS, FOXCONN will integrate its DTS Connect and DTS Surround Sensation into its upcoming motherboards. DTS CONNECT is a surround sound decoding technology for PCs; DTS Surround Sensation is a acoustic post-processing technology to create "three dimensional" sound from only two speakers. Finan (More info...)
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California Stem Cell Gets FundingIrvine-based California Stem Cells said Friday morning that the firm has secured a Series A financing round, from undisclosed private investors. Amount of the investment was not disclosed. The firm said that it will use the funding to expand its laboratory and manfacturing facilities. California Stem Cells said it is focused on the manufacturing of high-purity human stem cells, for use in pre-clinical development of treatments for cardiac and central nervous system disorders.
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Technology Council Names Technology Award WinnersThe Technology Council of Southern California announced the winners of the group's annual Technology Industry Awards last night at an event at the Millenium Biltmore in Los Angeles. The group recognized George Klaus of Epicor Software with a Lifetime Achievement Award; Jim McCluney of Emulex as CEO of the Year; Tim Vanderhook of Specific Media as Entrepreneur of the Year; Citrix Online as Software of the Year, and QLogic Corp. as Hardware & Storage Company of the Year. Other award recipients inc (More info...)
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