Monday, January 17, 2011Avalon Funds Internet Comedy Site CheezburgerSan Diego-based venture capital firm Avalon Ventures has boosted an Internet web site publisher known for its humorous, captioned pictures of cats and use of Internet memes, Cheezburger. According to Cheezburger, Avalon was one of a number of venture firms investing in the company's $30M funding today, and has added Avalon partner Rich Levandov to its board of directors. Cheezburger runs comedy sites I Can Has Cheezburger?, which features "LOLcats", funny pictures of cats with humorous captions, (More info...)
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SpaceX Eyes Replacing Space ShuttleHawthorne-based SpaceX, the commercial spacecraft and rocket development firm headed by Elon Musk, told its supporters in an email Monday that it is targeting use of its technology as a replacement for the Space Shuttle. According to SpaceX, it believes that its Falcon 9 and Dragon is the "safest path to crew transportation capability," and that it believes it can send astronauts to and from the International Space Station for "less than half the cost" of the estimated $50M per seat NASA is expe (More info...)
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OCTANe Names New ChairmanAliso Viejo-based OCTANe, the industry group which is looking to help spur new companies and innovation in Orange County, said this morning that it has named a new Chairman. According to the group, Robert E. Grant, CEO and President of Bausche + Lomb's global Surgical business, has been elected non executive Chairman of the group. Grant replaces former Conexant CEO Dwight Decker. Grant has previously served at Allergan, and has been a board member since 2008. OCTANe also said it has added Andrew (More info...)
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Steve Jobs Takes Medical LeaveSteve Jobs, the CEO of Apple, has taken a medical leave of absence, according to a terse statement issued by Apple Computer this morning. According to an email released by the company from Jobs, Apple's board of directors has granted him a medical leave of absence, so that he can "focus on my health." Jobs said that he would continue as CEO and be involved in major strategic decisions for the company. No other details of the departure were given, but Jobs has previously battled pancreatic cancer (More info...)
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MeFeedia Ties Into BeboBurbank-based MeFeedia, the online video guide site headed by Frank Sinton, said Friday that it has partnered with social networking site Bebo. According to MeFeedia, users of Bebo can now watch videos from MeFeedia directly from the site, giving Bebo's users access to videos from over 30,000 different sites aggregated by the company.
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Mogreet Wins CBS TV StationLos Angeles-based Mogreet, the video marketing and mobile messaging startup headed by James Citron, said today that it has launched a new mobile video service for WGCL-TV, CBS-Atlanta. According to Mogreet, the new service will deliver video news and weather alerts to viewers' mobile devices. Financial details of the win were not disclosed. Mogreet said it is powering the service, which allows users to text keywords to the station for video updates. Mogreet provides mobile marketing and other re (More info...)
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Air Lease Files For IPOLos Angeles-based Air Lease, a provider of aircraft leasing services, said Friday that it has filed for a $100M IPO. The IPO is being underwritten by J.P. Morgan, Credit Suisse, and CBR Capital Markets. Air Lease is backed by Ares Management LLC, Leonard Green & Partners, WL Ross & Company, American Funds Insurance, and Commonwealth Bank of Australia.
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Kofax To Sell Hardware Business, Cut StaffIrvine-based Kofax, a provider of document management software and hardware, said Sunday that it is selling its hardware business to a German private equity firm, and cutting staff. Kofax said it is selling the business to Hannover Finanz, in a deal expected to be worth approximately $20M after tax. In addition to the sale, Kofax said it is taking a charge of $2.6M for restructuring of its software business in Europe, Middle East, and Africa, and will be eliminating 20 positions related to that (More info...)
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Leap Wireless Names VPSan Diego-based Leap Wireless International, which operates the Cricket mobile phone service, said today that it has named Bob Young as the company's new Executive Vice President Field Operations. Young was most recently at MetroPCS Communications, and has also served at Verizon Wireless, PrimeCo Personal Communications, and US West.
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