Friday, January 23, 2009Southern California Venture Totals Drop in Q4PricewaterhouseCoopers and the National Venture Capital Association (NVCA) released their 2008 Q4 MoneyTree Report this evening, reporting that $28.3 billion was invested in 3,808 deals in the fourth quarter of 2008. The report, based on data from Thomson Reuters, found that 2008 investments declined by 8 percent in terms of dollars, and 4 percent in terms of deal volume, with fourth quarter results seeing a 26 percent drop to $5.4 billion in 818 deals, down from $7.3 billion in the third quarte (More info...)
posted on Friday, January 23, 2009(Full story)
Active Network Buys ReserveAmericaSan Diego-based Active Network, which operates a network of online sites focused on community and sports organizations, has acquired ReserveAmerica, a provider of campground reservations, owned by IAC. According to IAC and Active, IAC will sell 100% of its capital stock in ReserveAmerica Holdings, Ltd. to Active in exchange for approximately 3.5 million sharse of Active, convertible preferred stock. The move will make IAC a 9 percent owner of The Active Network. ReserveAmerica manages campground (More info...)
posted on Friday, January 23, 2009(Full story)
Atiz Rolls Out New Book ScannerLos Angeles-based Atiz Innovation said Friday that it has unveiled a new device, which allows users to easily digitize books. The new product--aimed at schools and libraries--combines a digital SLR camera and a special cradle to scan up to 700 pages an hour in high resolution scans. The firm is taking aim at the increasing interest of libraries to digitize their book collections; among the higher profile efforts in this area are Google's online Book Search offering. Atiz said it now has approxim (More info...)
posted on Friday, January 23, 2009(Full story)
Autobytel Abandons Sale EffortsIrvine-based Autobytel said late Thursday that it is ending its "evaluation of strategic alternatives" and a possible sale of the firm. According to the firm, the firm has concluded that "shareholder value would not be maximixed by a sale of the company" in the current market. Autobytel said it continues to look at other strategic alternatives with RBC Capital Markets, the investment bank advising it in the effort. Autobytel said in September that it would look for a buyer, after cutting approxi (More info...)
posted on Friday, January 23, 2009(Full story)
SkinMedica Files Patent LawsuitSan Diego-based SkinMedica, which develops cosmeceuticals for the skin care market, said today that it has filed a patent and trade secret action against competitors Histogen,Inc., Histogen Aesthetics, LLC, and Dr. Gail Naughton, founder, President, and CEO of Histogen. According to SkinMedica, those firms are infringing on two patents held by the firm, U.S. Patents 6,372,494 and 7,118,746. SkinMedica said that it is seeking relief for infringement on the patents and also for misappropriation of (More info...)
posted on Friday, January 23, 2009(Full story)
OCTANe's Augusta To LeaveOrange County's effort to boost startup and high tech companies, OCTANe, is losing its President and CEO, Gary Augusta, and has retained an executive search firm to find a replacement, the group said Thursday. In a letter to OCTANe's mailing list, Augusta said that the organization has started a search for his successor, and retained Spencer Stuart to run a formal search. Augusta will continue to serve as CEO until a new CEO is found. According to Augusta, he is looking to leave because OCTANe (More info...)
posted on Friday, January 23, 2009(Full story)