Wednesday, April 20, 2011SoCal Firms Still Lined Up For IPOs10 of the 44 venture-backed companies currently filed to go public are from Southern California, according to an analysis today from the Wall Street Journal. According to the report, there are 44 U.S., venture-backed companies currently filed for an IPO, with 10 from Southern California and 13 from Silicon Valley. Those firms include Boingo Wireless, Active Network, NewEgg, GameFly and Peregrine Semiconductor. Southern California has been very active in the IPO arena, with successful IPOs recent (More info...)
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Solarflare In Talks With Marvell, Say SourcesIrvine-based Solarflare Communications, which develops 10 Gigabit Ethernet adapters and semiconductors, is in the process of being acquired or selling parts of its business to Marvell Technology Group, according to sources close to the firm. Solarflare declined to comment on the rumor, saying that it was the company's policy not to comment on rumors or speculations. Marvell did not respond to inquires via email. Solarflare, which is headed by Russell Stern, is venture backed by Acacia Venture Pa (More info...)
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ScoreBig Raises $14.1MLos Angeles-based ScoreBig, an online, members-only service providing discounted sports, concert, and theater tickets, has raised $14.1M in a funding round, according to a regulatory filing by the firm today. The filing indicates the funds came as part of an ongoing $20M fundraising effort by the company. No details on the funding have been announced by the company. The round comes only four months after the firm announced $8.5M in a funding round led by Bain Capital Ventures. ScoreBig's CEO is (More info...)
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Altly, Dmitry Shapiro's New Startup, To Take On FacebookDmitry Shapiro, the founder of Veoh and most recently the CTO of MySpace Music, is looking to build an alternative to Facebook at his new startup, Altly. The stealth mode startup has yet to detail its plans, however, Shapiro gave a hint of its plans in a Twitter post this morning. Shapiro recently left MySpace Music, just ten months after he joined.
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TRACON Pharmaceuticals Raises $14MSan Diego-based TRACON Pharmaceuticals, a firm developing cancer therapeutics, said this morning that it has raised $14M in a first tranche closing of a venture round. The round was led by JAFCO and Nextech Invest, and also included Arcus Ventures, BHP, and Brookline Investments. JAFCO's Kenji Harada and Hironori Hozoji, and Nextech Invest's Myoung-Ok Kwon have all joined the company's board along with the funding. TRACON is developing antibodies for treating prostate, bladder, and liver cancer.
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Cyber-Rain Names Chief Revenue OfficerEncino-based Cyber-Rain, the venture backed maker of a smart, Internet-connected sprinkler control system, has named Ben Jamison as its Chief Revenue Officer. The firm, which is backed by DeWaay Investment Partners, Athenian Venture Partners, Momentum Venture Management and Funk Ventures, said that Jamison joins the firm from Soliant Energy, where he was Vice President of Worldwide Sales and Marketing. He also has served at Savant Systems, Runco International, and NEC Technologies Personal Displ (More info...)
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Teledyne Sells Piston Engine BusinessThousand Oaks-based Teledyne Technologies said Tuesday evening that it has completed the sale of its piston engine business, Teledyne Continental Motors, Inc. and Teledyne Mattituck Services, Inc., in a stock sale to Technify Motor, a subsidiary of AVIC International Holding Corporation. The deal was worth $186M. Teledyne said the sale would make it a pure-play electronics, imaging, instrumentation and engineering focused company.”
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