Wednesday, March 16, 2011
Cornerstone OnDemand IPO Prices At $13 Per Share
Santa Monica-based Cornerstone OnDemand has priced its IPO at $13.00 per share, above its estimated offering range of between $9.00 and $11.00 per share, raising $136.5M in its initial public offering. The firm, which develops software-as-a-service for the human resources and employee talent management sector, is venture backed by Bay Partners, Bessemer Venture Partners, and Meritech Capital. The firm will debut on the NASDAQ Global Market tomorrow as CSOD. Cornerstone OnDemand is headed by Adam (More info...)

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Topspin Media Opens Up Signups
Los Angeles-based Topspin Media, the music marketing and software firm headed by Ian Rogers, has opened up general signups for its service, the firm said Wednesday in Austin. Topspin--which has been operating in an invite-only mode since 2008--said it will now allow "all comers" to use the service. The firm previously had featured such artists as David Byrne, Paul McCartney, George Harrison, Beastie Boys, Eminem, Linkin Park, and others. Topspin said it had held off adding more users until it ad (More info...)

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Phorus Finds $125K
Los Angeles-based Phorus, a stealth mode startup headed by Dannie Lau, former Co-founder and EVP of Phatnoise, has raised $125,000 in what appears to be an ongoing, $250,000 seed funding round. No details on the company or funding have been announced. The disclosure came through a regulatory filing uncovered by Phatnoise developed digital audio systems which connected wirelessly with automobiles. The firm is now owned by Harman.

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Cornerstone OnDemand Expected To IPO Thursday
Santa Monica-based Cornerstone OnDemand is expected to debut Thursday in an IPO on the NASDAQ Global Market. The firm, which has applied to list on the Nasdaq as CSOD, had earlier said it estimated pricing at between $9.00 and $11.00 per share. Cornerstone onDemand is a provider of human resources and talent management software. The IPO's underwriters include Goldman, Sachs & Co., Barclays Capital, William Blair & Company, Pacific Crest Securities, Piper Jaffray, and JMP Securities. The firm is (More info...)

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THQ Releases Homefront Sales Figures
Agoura Hills-based THQ said Wednesday afternoon that it has shipped approximately 375,000 units of its new Homefront first person shooter in its first day, in north America. THQ's title is set in the u.S. after a fictional invasion by North Korea. THQ said it will be shipping the title in Europe and Asia Pacific throughout this week. THQ's sales of the new title are being watched carefully by industry analysts, who so far have given the title mediocre reviews. THQ described the first day sales a (More info...)

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ReachLocal To Help Power Facebook Deal Test
Woodland Hills-based ReachLocal, the provider of Internet advertising services to small and medium sized businesses, said Wednesday afternoon that it will participate in Facebook's Deals test in San Diego. Facebook said this week that it would be testing out a Groupon-style deals in San Francisco, San Diego, Dallas, and Austin this week. ReachLocal said it will use its existing presence in San Diego to source deals from local businesses for Facebook. Facebook is also tapping other partners, such (More info...)

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TowerJazz Selected By CMP
Newport Beach-based semiconductor firm TowerJazz said Wednesday that its 0.18 micron power management and CMOS image sensor technology, plus associated process design kits, have been selected by semiconductor prototyping group CMP. Financial details of the deal were not disclosed, hwoever, the two said that the TowerJazz process technology will be available for prototyping by companies, universities and research labs through the services provided by CMP. CMP is a nonprofit which helps universiti (More info...)

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eHow Reveals Redesign
Santa Monica-based eHow, the online question and answer site owned by Demand Media, has revealed a new site redesign today, saying it has launched a new look-and-feel plus additional site enhancements. eHow said it has organized information on the site into six new channels, covering Home, Money, Style, Health, Family and Food; started building new, feature length articles and videos produced by Demand Media Studios; added toosl to help users drive curation of the site; and more. eHow said the n (More info...)

posted on Wednesday, March 16, 2011(Full story)

Corelogic Buys Dorado Network Systems
Santa Ana-based CoreLogic, a provider of real estate, mortgage, and other data and information services, said Tuesday that it has acquired Dorado Network Systems Corporation, in a deal worth $32M. Dorado develops cloud computing applications for the financial services industry. Dorado said it previously held a 38 percent equity interest in Dorado.

posted on Wednesday, March 16, 2011(Full story)

Cricket Makes Calls To Japan Free
San Diego-based Cricket Communications, the wireless phone service owned by Leap Wireless International, said today that it will allow Cricket customers to make unlimited free calls to Japan through the end of the month. Cricket joins other carriers, including AT&T, Verizon, and Time Warner, who have dropped all fees to Japan to allow people to check on friends and family after the devastating earthquake and tsunami. Cricket said the feature has been activated for all of its voice plan customers (More info...)

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Activision, ABC To Release Wipeout Game
Santa Monica-based Activision Publishing and ABC Entertainment Group announced today that they are in a deal to publish a new Kinect for Xbox 360 game based on the show Wipeout. The two said they will release Wipeout In The Zone, based on the ABC show, for the Kinect controller. Financail details of the deal were not disclosed. The two said the title will be available sometime this summer. Wipeout is the ABC series which pits contestants against obstacle courses, and is produced by Endemol USA.

posted on Wednesday, March 16, 2011(Full story)

Amylin Suspends Clinical Trial
San Diego-based Amylin Pharmaceuticals and partner Takeda Pharmaceutical Company reported this morning that they have suspended clinical activities on a Phase 2 study involving its obesity treatment. The firm said the study was voluntarily halted over patient safety issues.

posted on Wednesday, March 16, 2011(Full story)

How did SoCal's venture investments go in Q4? Read more
Interested in seeing how Southern California did in Q4 of 2010 in the venture market? Are companies being funded? And who's getting that funding? See PwC's Shaking the MoneyTree Q4 2010 results in the PwC Emerging Company zone.

PwC Emerging Company Zone:

SoCal MoneyTree Report:

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