Monday, March 22, 2010
Zag: 100,000 Cars Sold, Profitable
Santa Monica-based Zag, which develops online car buying software, announced Monday that it has hit the 100,000 cars sold mark on its service. The firm said that the brands using its online car buying software--including USAA, AAA, American Express and Overstock--sold over 100,000 new and used vehicles since launching in 2006. Zag, which also says it reached profitability in August 2009, said consumers saved over $350M over MSRP by using its programs. Zag develops online car configuration and qu (More info...)

posted on Monday, March 22, 2010(Full story)

FreeConference Ties With Gwabbit
Glendale-based Global Conference Partners, the firm behind the free conference calling site, has inked a partnership with contact management software firm Gwabbit, Gwabbit said Monday. According to Gwabbit, it will be highlighting FreeCofnerence phone numbers appearing in its contact capture products with a link to FreeConference's icon and website. Financial details of the partnership were not disclosed. Gwabbit's software run on Outlook and BlackBerry, and automatically upda (More info...)

posted on Monday, March 22, 2010(Full story)

FastSoft Sign BPO Firm
Pasadena-based FastSoft, the Caltech spinoff which is developing Internet acceleration devices, has recently signed on ReSource Pro, a business process outsourcing firm for the insurance agency, the firm told socalTECH. According to FastSoft, New York-based ReSource Pro is using the firm's Desktop Virtualization Acceleration products to increase the efficiency of downloading and uploading files to the firm's Chinese offices, where it has over 650 employees. FastSoft did not disclose financial im (More info...)

posted on Monday, March 22, 2010(Full story)

Virgin Galactic Completes Test Flight In Mojave
Virgin Galactic, the commercial spaceflight firm of Sir Richard Branson and Burt Rutan, announced today that it has completed the inaugural captive carry flight of the firm's combination spacecraft and mothership. Virgin Galactic said the flight, at the Mojave Air and Spaceport, is the first in a test program that will continue through 2010 and 2011. The new vehicles---the offspring of SpaceshipOne, the first private spacecraft to reach space--are targeted at use in launching daily space tourism (More info...)

posted on Monday, March 22, 2010(Full story)

Insights and Opinions: Top Ten Lies Angels Tell
For our Insights and Opinions section today, Frank Peters--angel investor and podcaster at the Frank Peters Show--offers up his take of Guy Kawasaki's Top Ten Lies of Venture Capitalists.

1. "That was a good presentation!"

I have to say something positive, but you're not getting me to write a check. The fact is most funding pitches are terrible; they're more product pitches with an appeal for money tacked on at the end. Passion, yes, every entrepreneur has heard by now they must show gre (More info...)

posted on Monday, March 22, 2010(Full story)

Gc-Free Raises $700K
Vista-based Gc-Free, a firm developing diagnostic tools to predict risks of colon, prostate, breast and other cancers, has raised $700,000 in an equity funding, according to a regulatory filing by the firm today. Source of the funding was not disclosed. The firm says it currently provides a tool for detecting N-glycolylneuraminic Acid, a non-human molecule that contaminates biopharmaceutical reagents, products and cell lines.

posted on Monday, March 22, 2010 (More)(Full story)

Red 5 Studios Gets $20M Investment
Aliso Viejo-based Red 5 Studios, a developer of online games, and Chinese game developer The9 Limited, said today that Red 5 has received a $20M investment from The9. The investment gives The9 a majority interest in Red 5. Red 5's executives were formerly at Blizzard Entertainment. Red 5 Studios had previously taken $18.5M in funding from Benchmark Capital and Sierra Ventures; it's unclear what the status of that investment is, and if those firms remain involved in Red 5.

posted on Monday, March 22, 2010 (More)(Full story) Launches Social Fundraising Site
Los Angeles-based announced today that it is launching today at the DEMO Spring 2010 conference in Palm Desert. The firm, which is self funded, says that it allows individuals, businesses, and nonprofits to raise money for any project, using social media. calls itself a "social fundraising platform", and allows users to use Facebook, MySpace, Twitter, and other means to promote different projects, handling the collection of funds for those different projects. The company (More info...)

posted on Monday, March 22, 2010(Full story)

Avaak Raises $10M
San Diego-based Avaak, a developer of lower power, wireless video networking technology, announced today that it has raised $10M in a Series B funding. The funding was led by Qualcomm, and also included prior investors Trinity Ventures, Interwest Partners, and Leapfrog Ventures. Avaak develops a wireless, personal video monitoring product used to monitor homes and businesses via the Internet. The new funding brings the company's total raised to $17.0M. According to the company, the new funding w (More info...)

posted on Monday, March 22, 2010 (More)(Full story)

Rapid Bridge Buys QuantumThink Group
San Diego-based Rapid Bridge, a provider of ASIC design and development technology, said today that it has acquired the assets of QuantumThink Group, a San Diego IC design services company. Financial terms of the buy were not disclosed. According to Rapid Bridge, QuantumThink Group has offices in San Diego, San Jose, and Bangalore, India. Rapid Bridge said the acquisition will allow it to provide clients with full front-to-back IC design services.

posted on Monday, March 22, 2010(Full story)

D2 Technologies, GCT Partner On Mobile VoIP over WiMAX
Santa Barbara-based D2 Technologies, a developer of embedded communications software, said today that it has partnered with GCT Semiconductor, a developer of mobile WiMAX products, on a VoIP over WiMAX product. D2--which develops software used by OEMs to implement wireless communications applications--said the VoIP over WiMAX support work on both Android and Linux operating systems. The firms have created two reference designs that use GCT's WiMAX chips, and D2's mCUE communications software. D2 (More info...)

posted on Monday, March 22, 2010(Full story)

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