Wednesday, August 19, 2009DivX Gets Settlement From Yahoo On Toolbar LawsuitSan Diego-based DivX reported Wednesday that it has reached a settlement with Internet portal Yahoo!, over a contract dispute concerning a cobranded Toolbar deal made between the firms in September of 2007. The firm said the settlement would boost its earnings by $0.29 per diluted share, or around $9.47M based on its shares outstanding. DivX sued Yahoo in November of 2008, after Yahoo backed out of a deal to offer its toolbar to users who downloaded video software from DivX.
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MySpace Confirms iLike BuyLos Angeles-based MySpace confirmed Wednesday that it has purchased Seattle-based iLike, a venture funded firm providing a way for users to share playlists and information on music. No additional information about the buy was announced by the company, nor was any further detail on a rumored $20M price tag provided by the company. iLike will remain headquartered in Seattle.
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Palkion Raises $2.5MSan Diego-based Palkion, a developer of oral drugs for treating anemia, has raised $2.5M in a funding round, according to a regulatory filing from the firm Monday. Details on the funding have not been released. The firm is backed by ProQuest Investments and CrystalGenomics.
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Sequoia Communications Shuts DownSan Diego-based Sequoia Communications, which was developing transceivers for the wireless RF market, has apparently shut down, and now has its assets up for auction. Messages and emails sent to the firm for confirmation were not returned. Sequoia Communications had raised over $50M in funding from such firms as BlueRun Ventures, Cadence Design Systems, Gabriel Venture Partners, Huntington Ventures, Motorola, Nokia Venture Partners, Tallwood Venture Capital, and Third Point Ventures. A alumni gr (More info...)
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AccessDNA Lands Funding RoundLos Angeles-based AccessDNA, which operates an online site for locating genetic testing services, said this morning that it has raised $670,000 in a new round of angel funding. The funding brings the company's total raised to $1,115,000. Source of the funding was not disclosed. The company said the new funding will go towards accelerating growth, particularly new hires, PR, and marketing. AccessDNA's web site helps users determine what kinds of genetic conditions they might be affected by, and a (More info...)
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Advertise.com Sued By AOLSherman Oaks-based Advertise.com, the online search engine marketing firm run by Dan Yomtobian, has been sued by AOL over the firm's domain name, according to reports. Apparently, AOL is suing Advertise.com over its similarity to AOL properties Advertising.com and Ad.com. Advertise.com was, until recently, known as ABCSearch. The Scour.com meta-search engine is also run by Yomtobian, and is an offshoot of ABCSearch.
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Insights and Opinions: GRP's Mark Suster on Startup Mistakes
This morning's Insights and Opinions article comes from venture capitalist Mark Suster of GRP Partners, who shares some of the most common mistakes he sees startups making.
This is a very important post to me because I find myself giving this advice all the time and if you don't follow the basic advice here you can cause yourself much heartache down the line - even if your company ultimately becomes uber successful.
I often talk with entrepreneurs who are kicking around their next id (More info...)
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Zeebo Gets $6MSan Diego-based Zeebo, a developer of a wireless gaming console, has raised $6.0M in a funding round, according to a regulatory filing from the firm last week. The firm's investors include Qualcomm and Tectoy S.A. Zeebo was founded by former Qualcomm employee Mike Yuen and gamer and entrepreneur Reinaldo Normand. Zeebo's console uses Qualcomm's BREW and MSM chipsets to provide a wireless, gaming platform.
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Integrien Raises $6.5MIrvine-based Integrien, a developer of enterprise, IT monitoring software, has raised $6.5M in a funding round, part of an ongoing $7.475M fundraising effort, according to a recent regulatory filing by the company. Details on the funding have not been announced by the company. The firm, which has previously raised funding from Clearstone Ventures and the Acartha Group, continues to have Clearstone's Jim Armstrong and Acartha's Ameet Patel listed as board members.
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