Wednesday, February 10, 2010Boingo Trumpets Mobile Platform CoverageLos Angeles-based Boingo Wireless, which operates a global network of Wi-Fi access points, said Wednesday that the firm now has applications for the "most popular" mobile marketplaces. The firm's applications, which are used for single sign-on to the firm's network of Wi-Fi providers, support Android Marketplace, Apple's App Store, Blackberry App World, Nokia OviStore, Sony Ericcson PlayNow, and the Windows Mobile Marketplace, the firm said. Boingo's various applications are all available for fr (More info...)
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X Prize Foundation Opens Lab At USCThe X Prize Foundation, the nonprofit which is managing a number of prize-based competitions to spur on scientific research and innovation, said Wednesday that it is launching a new lab program at the University of Southern Califonia Viterbi School of Engineering. According to the foundation, the new X PRIZE Lab@USC will include a semester-long course for undergraduates, enrolling students from both the School of Engineering and USC Marshall School of Business. The foundation said that the cours (More info...)
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Insights and Opinions: Money comes smart or dumb. Find smart.For our Insights and Opinions section today, Dave Berkus, an angel investor, sums up why -- even for an angel backed firm-- taking venture capital makes a lot of sense.
This statement could be considered controversial. We have previously made the case that professional investors demand more in the form of restrictive covenants and lower valuations. Now we explore the other side of that coin. Professional investors usually bring "smart money" to the table, defined as money that comes along (More info...)
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Allylix Raises $6MSan Diego-based Allylix, a developer of technology for producing fragrances and flavorings, announced today that it has raised $6M in a Series C funding round. The round was led by Midpoint Food & Ag Fund, as well as Avrio Ventures and Tate & Lyle Ventures. The firm said that it also expects a second closing on the Series C within the next 90 days. Allylix said the new funding will allow it to commercialize its first three products, as well as to advance several additional products in the pipeli (More info...)
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Napster Wins Coca ColaLos Angeles-based Napster, the online music subscription service which is now owned by Best Buy, has been selected by Coca-Cola as part of a loyalty program. Coca-Cola announced that it would use Napster on Wednesday, as part of a itss My Coke Rewards loyalty program. The firms did not discuss financial details of the deal, however, Coca-Cola said that the deal will allow members to use their points--accumulated from buying Coca-Cola products--for access to MP3 and streaming music on Napster.
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Craton Equity Partners Boosts Biofuels Station OperatorLos Angeles-based venture fund Craton Equity Partners announced today that it has led an investment in Sacramento-based Propel Fuels, a retailer of alternative fuels for motor vehicles. Propel runs a number of alternative fueling stations in both Seattle and Sacramento selling biofuels and E85 ethanol. Craton said it invested $8M in Propel, alongside Nth Power and @Ventures. Propel raised $12M in equity and $8M in debt in its funding round, which it says will go to expand its network of stations (More info...)
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UCLA Looks To Tap Social Networks In Teen Health EffortThe UCLA School of Public Health is looking to tap into the power of social networks, in an attempt to encourage adolescents from 13 to 17 to take better care of their health. According to health care insurer Health Net and UCLA, the two are looking to study the use of Web-based, social media to improve preventative care and decrease emergency room visits among adolescents. UCLA and Health Net said the effort is being funded by a $1.1M grant from the Eunice Kennedy Shriver National Institute of (More info...)
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Audyssey Designed Into Volvo S60Los Angeles-based Audyssey, a developer of sound equalization and correction technology, said today that Volvo is deploying the firm's technology in its new Volvo S60. The firm, whose founders include Tomlinson Holman, inventor of THX, said that Volvo is using its technology to calibrate the sound system in the S60, removing distortion caused by the car's cabin. Audyssey has an existing deal with Volvo to equip new car models with the firm's technology.
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GameFly Files For IPOLos Angeles-based GameFly, which operates an online video game rental service, has filed for a $50M in an IPO on the NASDAQ Global Market. The firm is looking to list under the symbol GFLY. The IPO is being underwritten by BofA Merrill Lynch, Piper Jaffray, Cowen and Company, and William Blair & Company. GameFly is venture backed by Sequoia Capital, Tenaya Capital, and a number of individuals, with Sequoia owning around 51.5 percent of the firm. The firm reported it had net income of $2.97M on r (More info...)
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MeLLmo Hires Sales VPSan Diego-based MeLLmo, the firm behind the Roambi mobile business application, said today that it has hired on Brad Freitag as the firm's Vice President of Sales. Freitag has previously worked at Oracle, IBM, and Hyperion Solutions, and was most recently at Host Analytics, where he was Vice President of Sales. MeLLmo is backed by around $10M in angel funding. The firm's mobile application allows users to view business reports and other information from the Apple iPhone.
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ValueClick Stresses Ad Quality EffortsWestlake Village-based ValueClick announced today that its ValueClick Media and Commission Junction divisions are focusing on improving network quality, and have renewed an agreement with ad monitoring firm Cyveillance. According to the firm, the move will complement its own internal network monitoring system. Financial details of the renewal were not disclosed, however, the firm said that Cyveillance is providing the firm with real-time content monitoring of domains, ad tags, and its affiliate (More info...)
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Interview with Rahul Sonnad, GeodelicA few weeks ago, Rahul Sonnad--a serial entrepreneur who is best known for founding and selling thePlatform to Comcast--alternately confused and dazzled attendees at Twiistup, the Los Angeles tech conference, with a fake-stilted-Indian-immigrant and ukulele-singing-and-dancing studded pitch for his firm, Geodelic (www.geodelic.com). We caught Rahul in a more serious conversation, and spoke to him about his venture funded, location-based information startup and what it's up to, as well as got the (More info...)
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Ace Metrix Rates Super Bowl AdsLos Angeles-based Ace Metrix, the online advertising rating and analytics firm run by Steve Goldman, has applied the firm's ad rating service to the Super Bowl XLIV ads. The firm, which is backed by Hummer Winblad and Palomar Ventures, said its ranking service found that the most effective ad during the Super Bowl was for Budweiser's "Fence" ad, followed by Doritos "Dog Collar" spot, Snickers "Game", Doritos "Kid's Rule", and finally Google's "Parisian Love" advertising spot. Ace Metrix operates (More info...)
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