Wednesday, January 26, 2011Demand Media Up 32 Percent In IPOSanta Monica-based Demand Media, the online publishing network run by Richard Rosenblatt, had a huge reception in the public markets Wednesday, closing up 32 percent in its initial public offering. Demand, which debuted on the NYSE as DMD this morning, priced at $17.00, but soon shot up to as high as $25.00 per share. The firm closed at $22.65 Wednesday afternoon. Demand Media's IPO was well above the firm's initial estimated range of $14.00 to $16.00 per share, and the firm also boosted the num (More info...)
posted on Wednesday, January 26, 2011(Full story)
Ligand Buys CyDex PharmaceuticalsSan Diego-based Ligand Pharmaceuticals said Wednesday afternoon that it has acquired CyDex Pharmaceuticals, a Kansas-based drug reformulation firm. Ligand said it will pay $31.2M in upfront cash, $4.3M at the one year anniversary of closing, and unspecified earn out based on revenue share. CyDex had 2010 revenues of $16.3M. Ligand said CyDex will operate as a wholly owned subsidiary of the firm.
posted on Wednesday, January 26, 2011(Full story)
President Obama Highlights Caltech Energy ResearchIn last night's State of the Union Address, President Obama plugged an effort at Pasadena's California Institute of Technology to develop a way to convert solar energy, carbon dioxide, and water into fuel. The reference, which Obama described as "a way to turn sunlight and water into fuel for our cars," appears to be a reference to research just announced this month from Dr. Sossina Haile at Caltech, a professor of materials science and chemical engineering, which uses the metal cerium oxide to (More info...)
posted on Wednesday, January 26, 2011(Full story)
Goldstar Links With TEDLos Angeles-based Goldstar, the online service which offers up discounted tickets to entertainment events and tickets, is announcing today that it has linked up with TED, the nonprofit conference operator focused on spreading innovative ideas. According to Goldstar, which is run by Jim McCarthy, it will partner with TED, including supporting the TED brand, running a TEDxLive event in Los Angeles, as well as provide help on TEDActive and TEDWorkshop. Financial details of the partnership were not (More info...)
posted on Wednesday, January 26, 2011(Full story)
Vicente Capital Backs Campus ExplorerLos Angeles-based growth equity investor Vicente Capital Partners officially announced today that it has led a SEries C investment in Santa Monica-based Campus Explorer, the fifth investment from its Growth Equity Fund. Klaus Koch, Managing Partner of Vicente Capital Partners, is joining Campus Explorer's board as part of the funding. Campus Explorer is led by Jerry Slavonia, and provides an online site that helps students match their profile and interests to colleges. The funding had been disc (More info...)
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TED Takes Talks To KindleFans of TED, the popular technology and ideas-focused conferences held in Long Beach and Palm Springs, have a new place to get their TED fix today, through a new digital book effort called TEDBooks, being run in conjunction with Amazon.com. According to the organizers of TED, it has launched TEDBooks to feature new ideas--similar to the firm's hallmark talks at its conferences--in a short format. The short books will be available through Amazon.com's newly launched Amazon Singles program, which (More info...)
posted on Wednesday, January 26, 2011(Full story)
Demand Media Surges In IPO DebutSanta Monica-based Demand Media surged in its IPO debut Wednesday morning on the NYSE, rising as high as $25.00 in morning trading. The firm was hovering around $23.00 just before 9am, after opening up at $17.00 in its IPO debut earlier in the morning. Demand Media, which is headed by Richard Rosenblatt, operates a network of content focused sites, including LiveStrong.com and eHow. The enthusiastic reception for Demand's IPO follows similar strong showings from Southern California firms such as (More info...)
posted on Wednesday, January 26, 2011(Full story)
CapLinked Adds Startup Funding DocsManhattan Beach-based CapLinked, the developer of a software-as-a-service tool for managing venture capital and angel fundraising efforts for companies, said today that it has launched a free library of document templates covering the startup process. The firm said the templates provide a start to such things as incorporating, conducting good corporate governance, and raising capital. CapLinked, which is headed by PayPal alum Eric M. Jackson, operates a service which helps companies manage the f (More info...)
posted on Wednesday, January 26, 2011(Full story)
Google Plans Expansion In VeniceSearch engine giant Google is planning a major expansion in Venice, according to a report today in the LA Times. According to the report, Google has leased more than 100,000 square feet in the Binoculars Building in Venice, designed by Frank Gehry. The move comes a day after Google said it is looking to hire more than 6,000 workers worldwide this year. Google currently has major operations in Santa Monica, where it is spread across a number of building.
posted on Wednesday, January 26, 2011(Full story)
Demand Media Prices IPO, Begins Trading TodaySanta Monica-based Demand Media said late Tuesday evening that it has priced its IPO, as well as increased its IPO offering size, and will sell 8,900,000 shares of its common stock at $17.00 per share. Demand Media, which operates an online publishing business and sites such as LiveStrong and eHow, upped the pricing well above its initial offering range of $14.00 to $16.00 per share, and above the initial 7,500,000 shares. The firm will begin trading today on the New York Stock Exchange as "DMD" (More info...)
posted on Wednesday, January 26, 2011(Full story)
OneLogin Powers WealthfrontSanta Monica-based OneLogin, a developer of single sign-on software, is powering the login capabilities for wealth management site Wealthfront, the firms said today. According to OneLogin and login solution provider Yubico, they have jointly implemented a solution for Wealthfront which allows Wealthfront's employees to securely access corporate web applications. Financial details of the win were not disclosed. Single sign-on applications allow users to use a single username and password to acces (More info...)
posted on Wednesday, January 26, 2011(Full story)
Bestofmedia Ties With Ad Serving Firm Madison LogicSanta Monica-based online publisher Bestofmedia Group, the parent firm of Tom's Hardware, said today that it has partnered with ad serving firm Madison Logic. Financial details of the partnership were not disclosed. Bestofmedia said the deal will allow it to offer contextually targeted advertising on its publication.
posted on Wednesday, January 26, 2011(Full story)