Tuesday, February 15, 2011Founders Institute LA Sees High Interest From WomenThe Founders Institute Los Angeles, the local branch of the Founders Insitute mentoring program, is seeing unusual interest from women for the upcoming semester of the program, according to local organizer Ken Rutkowski. According to Rutkowski, over 40 percent of the entrepreneurs applying this year are women. Rutkowski attributed the high interest from women to the number of women mentors signed up for the program. Rutkowski said that there are ten women mentors, representing 30 percent of the (More info...)
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ReachLocal Buys Daily Deals Firm DealOn.comWoodland Hills-based ReachLocal said Tuesday afternoon that it is acquiring New York-based DealOn.com, a provider of daily deals. ReachLocal said it would pay approximately $10M for DealOn Media LLC, which offers up local deals businesses in 18 markets across the U.S., a white labeled and co-branded deals platform, and an online exchange for trading deals with other deal sites. DealOn was founded in 2009. ReachLocal said it would use the buy to help it become the premier source of deals from loc (More info...)
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Interview with Jed Simon, FastPayLast week, Los Angeles-based FastPay (www.fastpaypartners.com) announced a round of funding and its services for providing advanced payment to online publishers, application developers, and game developers. We spoke with Jed Simon the firm's CEO and founder, about the company.
Tell us a little bit about what FastPay is about?
Jed Simon: The idea came from recognizing a pain point in the ad tech ecosystem. On one hand, you've got publishers, on the other, advertisers. Even with quality publ (More info...)
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Active Network Files For IPOSan Diego-based Active Network has filed for an IPO, saying in its S-1 that it is looking to raise up to $150M. The firm's IPO is being underwritten by BofA Merrill Lynch, Citi, Allen & Company LLC, Stifel Nicolaus Weisel, RBC Capital Markets, ThinkEquity LLC, and WR Hambrecht+Co. Active Network operates a network of online sports registration, community activity and group sites, and other related Internet services. The firm is venture backed by ESPN, Canaan partners, ABS Ventures, as well as ot (More info...)
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SBA Recognizes SoCal FirmsThe U.S. Small Business Administration honored a number of local small businesses and individuals at the White House today, who are participants in the Small Business Innovation Research (SBIR) program. The SBIR is a funding program which provides research and development dollars to small businesses and startups. Firms recognized by the SBA with the Tibbets Award included
Aerius Photonics in Ventura; Opto-Knowledge Systems of Torrance, Space Micro, Inc. in San Diego, and Wyatt Technology, in S (More info...)
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BlackLine Planning Big Hiring BoostBlackLine Systems, the developer of financial close software headed by Therese Tucker, is planning a big hiring boost this, expecting to hire more than 50 more employees this year on top of an existing 75 people working at the company. The firm told socalTECH that about 40 of those hires are expected to work at the firm's new Woodland Hills office, which is being announced today by Mayor Antonio Villaraigosa. BlackLine was previously located up the street in Calabasas. Therese Tucker is the form (More info...)
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Local Technology Conference Linked To Disease OutbreakLos Angeles County health officials are apparently tracking an outbreak of legionellosis (Pontiac Fever), a respiratory disease which can spread in hot tubs or parts of air-conditioning systems, linked to the DOMAINfest Global Conference held in Santa Monica earlier this month. According to reports, the outbreak appears to be linked to a fundraiser at the Playboy Mansion held on February 3rd which was part of the conference, and so far has affected at least 170 people who attended the conference (More info...)
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Vokle Gets FundingSanta Monica-based Vokle has scored an investment round from the Tech Coast Angels, the angel group formally announced Monday. Amount of the investment was not disclosed, however, a recent regulatory filing indicates that Vokle had recently raised $542,000 out of $1.0M in an ongoing funding round. The investment had been uncovered by socalTECH in January, but had not officially been announced as a TCA deal. The TCA's Raymond Chan sits on Vokle's board. Vokle is headed by Robert Kiraz, and operat (More info...)
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DataDirect Networks Snags HP VetChatsworth-based DataDirect Networks, the developer of storage arrays led by Alex Bouzari, said today that it has added former HP Fellow and Information Optimization CTO Jean-Luc Chatelain as its EVP Strategy and Technology. DataDirect said that Chatelain will head up expansion of the firm's product portfolio. Chatelain has also previously served at Persist Technologies before it acquisition by HP, and at Cemax-Icon, which was acquired by Imation/Eastman Kodak. DataDirect Networks' storage prod (More info...)
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PurePhoto Exits BetaWestlake Village-based PurePhoto is announcing today that it has officially exited beta for the site, and is launching a social commerce site focused on sharing and selling original photographic art. The firm, which is headed by John Ellis, is targeted at helping photographers to sell their original photography to art buyers, interior designers, and galleries. The site now features photos selling for as little as $20 and as high as $5,000. The firm said it has sold photos for as much as $20,000 (More info...)
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Outdoor Channel Buys MyOutdoorTV.comTemecula-based Outdoor Channel Holdings, the media firm that runs the Outdoor Channel, said today that it has acquired online web site MyOutdoorTV.com, an online site focused on hunting, fishing, and shooting. MyOutdoorTV.com features videso and television shows focused on the outdoor lifestyle. Financial terms of the buy were not disclosed. MyOutdoorTV.com was founded in 2006 by Chris Moise.
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RingRevenue Ties With DoublePositiveSanta Barbara-based RingRevenue, which provides pay-per-call tracking technology, has partnered with marketing and lead generation firm DoublePositive Marketing Group, the firms said today. According to the two, they will partner to deliver live voice leads to national lead buyers in higher education, insurance, and financial services. Financial details of the partnership were not disclosed. The partnership allows DoublePositive to include phone numbers in advertisements, and track responses to (More info...)
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TechForward Suing Best BuyLos Angeles-based TechForward, the provider of guaranteed buyback plans for electronics items run by Jade Van Doren, is suing Best Buy over that firm's creation of a near clone of TechForward's buyback plan, after Best Buy ran a trial of TechForward's services last year but instead opted to copy TechForward's program. The lawsuit, TechForward, Inc. v. Best Buy Co, Inc., was filed in the California Central District Court on Friday. TechForward allows users to pay a fee to guarantee the buyback va (More info...)
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Broadcom, ARM In Licensing DealIrvine-based Broadcom and ARM said today that the two are in a licensing agreement, which will give Broadcom access to ARM's entire line of processors. Financial details of the partnership were not disclosed. The two said Broadcom will have access to both current and future ARM processors for use across its product lines.
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Citrix Completes Netviewer BuySanta Barbara-based Citrix Online said today that it has closed on its acquisition of Netviewer AG, the developer of business collaboration software-as-a-service. Financial terms of the deal were not disclosed. Citrix had originally announced the acquisition on December 17th. Citrix said that Netviewer AG becomes part of Citrix Online, and will go towards accelerating its global expansion and leadership in Europe.
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