Friday, July 23, 2010Saatchi Online Raises $5MLos Angeles-based Saatchi Online, an operator of an online community focused on fine arts, has raised $5M in a Series A funding this week, according to sources. The round came from Balderton Capital, and was first exposed in a regulatory filing by the firm. Saatchi Online's CEO is Robert Norton, who formerly managed the North American operations for online gaming site King.com. Saatchi Online is related to London arts gallery Saatchi Gallery.
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X Prize Foundation Aims At Oil Cleanup EffortsThe X Prize Foundation, based in Playa Vista, is applying its competitive model for technology innovation to the huge, BP oil spill. According to the foundation, it is set to launch its sixth major competition next week, which will be a multi-million dollar, privately funded effort to inspire entrepreneurs, engineers, and scientist to develop highly efficient methods to capture crude oil from the surface of the ocean. No detail son the prize have yet been announced, however, the group said it wi (More info...)
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Buy.com Acquisition By Japanese Firm CompletesThe acquisition of Aliso Viejo-based Buy.com by Japanese ecommerce firm Rakuten has completed, according to Rakuten. The firm, which said it would pay $250M for Buy.com in May, said the all-cash deal closed as of July 1st. The firm said Buy.com will remain headquartered in Aliso Viejo, under its existing executive management team and staff. The firm's first major move, post-acquisition was yesterday's announcement of an extension of its return policy to 45 days, up from the usual 30 days; the fi (More info...)
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Interview with Matt Edelman, ThisNextThis week, Santa Monica-based ThisNext (www.thisnext.com) said it has raised another round of funding for the firm's social shopping site. We thought it would be interesting to speak to the firm--which is now headed by Matt Edelman--to hear where it's headed nowadays.
How long have you been at the firm now?
Matt Edelman: It's been since April 1st.
And can you talk about your prior experience, for folks who aren't familiar with your background?
Matt Edelman: The last company I ran and (More info...)
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ScoreBig Snags $5.0MLos Angeles-based ScoreBig, a stealth mode provider of unsold ticket liquidation services, has raised $5.0M in funding, according to a number of sources. Details of the company and funding have not been disclosed. Bain Capital Ventures now lists ScoreBig as a portfolio firm. The firm looks to be split between New York and Los Angeles. Adam Kanner, former Vice President Relationship Marketing and Business Development at National Basketball Association, lists himself as Founder and CEO on LinkedIn (More info...)
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Amgen Adds To BoardThousand Oaks-based biotech giant Amgen said Thursday that it has named Ronald D. Sugar to the firm's board of directors. Sugar is the former Chairman of Northrop Grumman Corp, having served as Chairman and CEO of the defense firm from 2003 to 2009. Sugar also serves on the board of Chevron, and also has served at Litton Industries, TRW, and TRW Aerospace. The firm said the addition of Sugar brings the company's number of board directors to 14.
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tmpSocial Taps JoyentLos Angeles-based tmpsocial, a provider of display advertising, in-game ad integration and virtual currency management products, has tapped cloud computing provider Joyent for its infrastructure services, the firms said this week. tmpSocial offers behavioral targeting, in-game virtual good software, and analytics services to advertisers. tmpSocial is a division of Epic Media Group.
posted on Friday, July 23, 2010(Full story)