Monday, August 30, 2010Next X Prize: Clean Cooking TechnologyPlaya Vista-based X Prize Foundation, the nonprofit which is running a series of competitions to advance science and technology, has unveiled it latest prize under development: clean-burning cookstoves. The group said the new effort, which it is developing with the Government of India's Ministry of New and Renewable Energy (MNRE) and the Indian Institute of Technology Delhi, looks to spur the development of clean and efficient cookstove technology. The contest comes as a result of an estimated 7 (More info...)
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Mail.com Sued Over Fashion RocksLos Angeles-based Mail.com, the online media network run by Jay Penske, is being sued by The Gross Family Foundation, a New York-based charity, over its use of "FASHION ROCKS" to advertise and promote its own multimedia services. According to a lawsuit filed Monday in the New York Southern District Court (The Gross Family Foundation, Inc. v. Mail.Com Media Corporation), the Gross Family Foundation claims that MMC is using "FASHION ROCKS" to advertise and promote its own services, including claim (More info...)
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MySpace Syncs With FacebookLos Angeles-based social networking site MySpace said Monday that it has added a new ability to synchronize MySpace updates with competitor Facebook. MySpace said its new Sync with Facebook synchronizes status updates, and also allows users to share their music, videos, links, and photos with friends on Facebook. The update sync feature also includes connections into Twitter.
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ShowUhow Gains $3MSan Diego-based ShowUhow, a developer of an online web site focused on video instruction guides for manufacturers and retailers, said today that it has raised $3M in a funding round. The firm said the Series A funding came from Syncom Venture Partners. As part of the funding, the firm said that Giles Bateman, former co-founder of Price Club/Costco and former chairman of CompUSA, has joined its board. ShowUhow maintains a library of videos providing information about consumer electronics and othe (More info...)
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X Prize Auctioning Off Zero Gravity Flight On eBayLos Angeles-based X Prize Foundation, the group which manages a series of competition-based prizes aimed at advancing science and technology, said today that it is running an eBay auction for a zero gravity flight with Avatar producer and director James Cameron. According to the foundation, the fundraiser will allow guests to purchase seats next to Cameron, as well as other X Prize board members, on a ZERO-G Experience flight taking off from Van Nuys airport in October. The event might be one of (More info...)
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Central Desktop Names Sales VPPasadena-based Central Desktop, the software-as-a-service provider of business collaboration software, said today that it has named Laurence Sotsky as Vice President of Sales. Sotsky was most recently Vice President of Sales at the Los Angeles Times Media Group, and has also served at Deloitte Consulting, and Accenture. According to Sotsky's LinkedIn profile, he's also served at i2 Technologies, Agribuys (Foodlink Online), The Gallup Organization, and VerticalNet, among other firms. Central Desk (More info...)
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TweetUp Becomes PostUp, Adds LinkedIn, FacebookPasadena-based TweetUp, the Twitter advertising startup started by Idealab's Bill Gross, said this morning that it has added LinkedIn and Facebook updates as part of its service, and as a consequence changed its name to PostUp. The firm allows users to increase the prominence of their Twitter and other updates in searches on third party Twitter clients, web sites, and other applications. The site is venture backed by Idealab, Index Ventures, betaworks, Steve Case's Revolution LLC, First Round Ca (More info...)
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Cogent In $943M Acquisition By 3MPasadena-based Cogent, the developer of fingerprint and other biometric readers, is being acquired by 3M, the two companies announced today. According to 3M and Cogent, 3M is acquiring Cogent for $10.50 per share, worth approximately $943M, or $430M net of cash acquired. The firms said the deal would help Cogent accelerate its growth and reach in the market. The companies said that publicly held Cogent had approximately $130M in revenue in 2009, and employs approximately 500. Cogent will become (More info...)
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Otonomy Raises $38.5MSan Diego-based Otonomy, a biopharmaceuticals firm developing products to treat disorders of the inner and middle ear, announced today that it has raised $38.5M in a Series B financing. The round was led by Novo Ventures and RiverVest Venture Partners, and also includes Domain Associates, TPG Biotech, and Avalon Ventures. The firm said the new fundings will go to support its programs through clinical studies. Peter Bisgard of Novo Ventures, Brian Dovey of Domain Associates, John McKearn of River (More info...)
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CODA Automotive Names CFOSanta Monica-based CODA Automotive, the developer of electric vehicles, said today that it has named Mark Jamieson as its Chief Financial Officer. According to CODA, Mark was most recently Executive Vice President and Chief Financial officer at HD Supply, and also served as CFO of Ryder Systems and GE Industrial Systems. The company said that Jamieson will manage the company's finance, human resources, information technology, and recruiting. CODA is developing an electric vehicle, the CODA Sedan (More info...)
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