Monday, January 10, 2011Synthetic Genomics Brings Funding Up To $35.0MLa Jolla-based Synthetic Genomics, a developer of genomics technology for the biofuels industry, has now raised $35M of its ongoing $50M funding round, according to a recent regulatory filing from the company. Synthetic Genomics is backed by ExxonMobil, Draper Fisher Jurvetson, Meteor Group, Biotechonomy LLC and Plenus, S.A., BP plc, and ACGT Sdn Bd. The firm is headed by J. Craig Venter, the inventor of DNA sequencing. The firm is currently focused on using genetics technology to modify microal (More info...)
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Insights and Opinions: Seek Investors Aligned With Your Interests, Not Their Ego
For today's Insights and Opinions section, we have an article from John Greathouse, of Rincon Venture Partners, who talks about why you should look for investors who are aligned with your interests, and not their egos.
In the early 1970s, the Seven-Up Company devised an ingenious plan to market its flagship soda. The campaign was so successful it eventually catapulted 7-Up's sales to rival that of both Coke and Pepsi, making it the third most popular soft drink in the US.
The compan (More info...)
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Avalon Ventures Closes $200M FundSan Diego-based Avalon Ventures, a venture capital firm focused on early stage high tech, digital media, and life sciences firms, said today that it has closed on $200M in capital commitments for its latest fund. Avalon said that the fund, Avalon Ventures IX, LP, is the ninth and largest fund for the company. The firm said the fund was 33 percent oversubscribed from its original target of $150M. Avalon is headed by Kevin Kinsella, Stephen Tomlin, Jay Lichter, Doug Down, Rich Levandov and Brady B (More info...)
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Paige Craig Backs Klout In New RoundLos Angeles angel investor Paige Craig is part of a new round of funding for Internet web influence tracker Klout. Klout said today that it had raised $8.5M in a funding round, led by Kleiner Perkins' sFund, which also included Greycroft Partners, as well as prior investors Paige Craig, ff Asset Management, Tom McInerney, Bobby Yazdani and Howard Lindzon. Craig, in addition to being an active angel investor, is starting up his own, stealthy B2B startup in Santa Monica. Klout is based in San Fran (More info...)
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Dave Ryan of Mission Ventures On ExitsLast month, San Diego-based venture capital firm Mission Ventures (www.missionventures.com) sold its portfolio firm, Carlsbad-based 3E, just the latest in a string of exits for the firm, which also included an IPO in Maxlinear earlier in the year. To get some insight to how venture capitalists are viewing the market, and how mergers, acquisitions, and IPOs are affecting the business, we chatted with Dave Ryan, Managing Partner at the company.
Dave, thanks for the time today. What do you make (More info...)
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Conexant Acquired By SMSCNewport Beach-based semiconductor firm Conexant Systems is in a deal to be acquired by New York-based SMSC. The deal is worth approximately $284M in both stock and cash. According to SMSC, the deal will help it create a stronger analog/mixed signal R&D team, and allow the firms to scale and grow. Conexant has approximately 600 employees. As part of the acquisition, SMSC said that Conexant President and COO Sailesh Cittipeddi becomes Executive Vice President at the firm.
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Active.com Launches Daily Deal EffortSan Diego-based Active Network, the operator of online sports registration and community sites, has jumped on the daily deals bandwagon, saying today that its Active.com site has launched a new, daily deals program. The new program, Active.com Schwaggle, offers a deal a day on fitness related products and services. Active said that the new program is launching first in the San Francisco Bay area, where it will offer deals three times a week. Active said it plans to roll out the Schwaggle progra (More info...)
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WebVisible Rolls Out New Ad TechnologyIrvine-based WebVisible, the local Internet advertising firm, said today that it has rolled out a new technology focused on keyword identification. According to the company, it has launched a "keyword performance engine" called KPEye, to help its clients find the keywords which deliver the most customer conversions, not just clicks, per dollar. The firm claimed it uses years of historical data and real-time market data to identify those keywords. WebVisible provides its services to small busines (More info...)
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Row 44 Gets FCC Approval For Atlantic CoverageWestlake Village-based Row 44, the developer of in-flight wireless broadband equipment, said Friday that the firm has received FCC approval to offer its services over the Atlantic Ocean. The firm said the FCC license makes it the only broadband provider allowed to operate and charge for in-flight broadband connectivity on transatlantic flights. Row 44 is backed by PAR Capital Management, and headed by John Guidon.
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