Tuesday, May 17, 2011DONE Ventures Sues Sedo Over Women.com, Women.netManhattan Beach-based DONE! Ventures, the Internet marketing and publishing firm headed by Ben Padnos, has sued domain name broker Sedo, over the firm's role in a mishandled sale of the domain names Women.com and Women.net. According to DONE! and its legal filings, it is suing for breach of contract, breach of warranty of authority, breach of fiduciary duty, and negligent misrepresentation in the domain name sale. DONE! had previously sued NBC, the owners of the two domains, in June of last year (More info...)
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Internet Machines Sues Best Buy, EMC, Fusion-IO, OthersThe firm which owns the patents of defunct PCI Express switching chip firm Internet Machines, which was based in Agoura Hills, has filed suit against a long list of defendants claiming patent infringement. Texas-based Internet Machines LLC, which appears to now own four of the patents filed by Internet Machines (later IMC Semiconductor), sued AvNet, ASUS, Best Buy, CDW, Concurrent Technologies, Cyclone Microsystems, EMC Corp. Extreme Engineering, Fusion-IO, GE Intelligent Platforms Embedded syst (More info...)
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RayTracker Acquisition Worth $44.8M, Says ReportA report today from Greentech Media says that Pasadena-based Idealab's sale of portfolio firm RayTracker was worth $44.8M. Idealab, Quercus Trust, and Phoenix Fire had invested $3.5M in funding in RayTracker a developer of solar tracking technology. RayTracker was also based in Pasadena, but was acquired in January by solar panel firm First Solar. RayTracker was a spinout of Idealab's Energy Innovations. The disclosure of the sale price came at a solar power conference, from the firm's former fo (More info...)
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California Led Q1 IPO PipelineNew information released in a study of the IPO pipeline, finds that California continues to be the most active market in terms of initial public offerings. According to the Renst & Young LLP US IPO Pipeline study, California had 25 companies looking to raised $2.2 billion on the market in Q1. California was followed by Texas, Connecticut, and Florida in terms of firms aiming at the markets. Ten Southern California firms were included in the list; of those, Air Lease and Boingo Wireless both have (More info...)
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Quest Software Backs Middleware DeveloperAliso Viejo-based Quest Software, the developer of enterprise software tools, has backed a maker of SOA middleware. According to WSO2, a Silicon Valley-based developer of middleware software, it raised $6.5M in a growth funding round, led by Quest. The investment also included Intel Capital. WSO2 develops cloud-enabled middleware software used by enterprises.
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Active Storage Names New CEOTorrance-based Active Storage, which develops storage devices aimed at the Mac and broadcast media market, said today that it has named Steve Rizzone as its Chief Executive Officer. The firm said that Rizzone succeeds Alex Grossman, who will be focusing on product aspects of the firm. Rizzone has previously served as CEO of IP3 Networks, Communicado, Ortel, and NetVantage, among other firms.
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Andreessen Horowitz: ShoeDazzle Reinvents 1920's StartupLast week's $40M funding by Andreessen Horowitz of Los Angeles-based ShoeDazzle, the monthly fashion, shoe and pursue startup headed by LegalZoom founder Brian Lee, was driven by parallels to a 1920's startup--the Book of the Month Club. According to a blog post from Andreessen Horowitz partner John O'Farrell, the firm recognized that ShoeDazzle was reinventing a concept pioneered in the 1920's, and doing so with "dazzling success." O'Farrell said that ShoeDazzle already has 3 million members of (More info...)
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Evolve Media Opens Travel DivisionLos Angeles-based Evolve Media Corp., the parent firm of Gorilla Nation and AtomicOnline, said today that it has launched a new division, focused on travel. The firm said its new Globetrotting Digital Media (GDM) division will focus on managing sales for online travel publishers. The firm said it has over 120 travel focused publishing partners, reaching 9.3 million unique global visitors monthly. The new unit is the third vertical that the firm has launched this year. Globetrotting Digital Media (More info...)
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PowerGenix Launches New ProductSan Diego-based PowerGenix, the developer of rechargeable Nickel-Zinc (NiZn) batteries, said today that it has launched a new product aimed at the micro-hybrid market. The firm said it has started production of a prototype product, in qualification with automotive OEMs. Names of those OEMs were not disclosed, nor were further details on the product. Micro-hybrid technology is being used by companies to apply hybrid auto techniques to standard cars, by shutting off the engine when a car is stoppe (More info...)
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CytRx Sells Assets To OrphazymeLos Angeles-based biopharmaceuticals firm CytRx said late last night that it has sold off the firm's molecular chaperone assets, to Denmark-based Orphazyme ApS. The deal is worth as much as $120M, if all development and commercialization milestones are met. The deal also included an up-front payment, which was not disclosed. Orphazyme ApS is venture backed by Novo A/S and Sunstone Capital. CytRx said the move is part of its move to monetize non-core assets at the firm. The firm has been focusing (More info...)
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Wireless Technology Firm Opens San Diego Research CenterPennsylvania-based InterDigital, a developer of wireless technology products, said Monday that it is opening up a new office in San Diego. According to the firm, the new West Coast Research and Development Center will help the firm tap into the region's ecosystem of innovation. InterDigital said that the center will allow it to more easily tap into the pool of talented electrical engineering and computer science graduates in the region.
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AwarePoint Names VPsSan Diego-based AwarePoint said Monday that it has named two executives. The firm said it has named Ralph Keiser as Executive Vice President of Sales, and Jaime Ojeda as Executive Vice President of Marketing and Business Development. Keiser joins from MedeAnalytics, Ojeda from Patient Care Technology Systems (PCTS). AwarePoint develops equipment and patient tracking systems for hospitals.
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