Friday, May 20, 2011
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PurePhoto Launches Groups
Westlake Village-based PurePhoto, the developer of an online, social commerce site to help photographers sell their photos, said today that it has launched a new, Groups feature to help its users discuss topics in photography with other users. The firm said the Groups are aimed at providing a central forum for for sharing images and engaging in discussions. As part of the launch, the service said it was extending a free, premium account to its users for one year, for new members who sign up and (More info...)

posted on Friday, May 20, 2011(Full story)

SolarReserve Scores $737M Loan Guarantee For Solar Power Project
Santa Monica-based SolarReserve, the solar power projects developer developing solar thermal, utility-scale power plants, has scored a massive, $737M loan guarantee from the U.S. Department of Energy. According to the U.S. Energy Secretary Steven Chu, the DOE has offered up the guarantee to support a 110 megawatt, molten salt concentrating solar power tower generating facility being built in Tonopah, Nevada, by SolarReserve. SolarReserve is venture backed by U.S. Renewables Group, Argonaut Priva (More info...)

posted on Friday, May 20, 2011(Full story)

Dreamworks Ties With Zynga's Cityville
Glendale-based DreamWorks Animation SKG and social games maker Zynga announced this morning that they are launching the first ever, in-game integration within the CityVille Facebook game. According to the two, the integration comes in conjunction with the opening of Kung Fu Panda 2, debuting next week. The deal includes a new, in-game item and quest for players of the CityVille game, all around promoting Kung Fu Panda 2. Financial details of the deal were not disclosed. The in-game items and que (More info...)

posted on Friday, May 20, 2011(Full story)

Insights and Opinions: Top 5 Reasons Entrepreneurs Fail
Why do entrepreneurs fail? That's the topic of today's Insights and Opinions article, from Christopher Grey, co-founder of CapLinked.

Are You Mark Zuckerberg, Colonel Sanders, or John DeLorean?

Nobody likes to talk about failure. Itís not fun or sexy. We live in a culture that worships success, no matter how you get there, and is disgusted by and afraid of failure, no matter what the reason. This is especially true of entrepreneurs. We live in age that believes in overnight success. (More info...)

posted on Friday, May 20, 2011(Full story), Jake Winebaum's Newest Startup, Gets $5M In Funding
Santa Monica-based, an online site focused on helping consumers find and compare dentists, has scored $5M in a Series A funding. The new site--the latest from entrepreneur Jake Winebaum--said that the funding was led by Mayfield Fund. is aiming at helping uninsured Americans find discounted pricing on dental procedures, providing upfront, pre-negotiated prices on major dental procedures nationwide. Winebaum has a long history as an entrepreneur in Southern California, (More info...)

posted on Friday, May 20, 2011 (More)(Full story)

Evolve Media Buys
Los Angeles-based Evolve Media, the parent firm of Gorilla Nation and AtomicOnline, said this morning that it has acquired, an online site focused on homemade baby food recipes. Financial terms of the acquisition were not disclosed. Evolve Media said the site will become part of its Momtastic online community for moms. Evolve said that reaches 510,000 unique visitors per month. was apparently founded by parent Margaret Meade in 20 (More info...)

posted on Friday, May 20, 2011(Full story)

Kofax Buys Imaging Software Firm
Irvine-based Kofax, the provider of document scanning and automation systems, said Thursday that it has entered into a definitive agreement to acquire Atalasoft, a developer of imaging software development toolkits (SDKs). Kofax said it will pay $5.5M in cash for the company. The deal is split into $4.7M on closing of the transaction, and $0.8M paid one year form closing. The deal also includes $4.2M in earnout over the next two and a half years. Atalasoft was based in Easthampton, Mass. and has (More info...)

posted on Friday, May 20, 2011(Full story)

RealD's Greer Resigns
Los Angeles-based RealD, the developer of 3D movie projection technology, reported Thursday that co-founder Joshua Greer has resigned as President, but will remain on the company's board of directors. Greer and RealD said the move would give Greer "increased flexibility" so he can pursue other "personal and professional interests". As part of the move, RealD said that it has also appointed Chief Technology Officer Gary Sharp as Chief Innovation Officer, with Sharp also assuming day to day respon (More info...)

posted on Friday, May 20, 2011(Full story)

SRS Labs Promotes VP
Santa Ana-based SRS Labs, which develops surround sound and other audio technology, reported today that it has named Bob Lyle as Vice President, Mobile Solutions Group. Lyle was most recently managing Director of Global Business Development for the company. Lyle has been at the firm since 2009. SRS develops surround sound software, including software being used in Android devices. The firm's Android efforts include a deal with Qualcomm to include SRS audio enhancement technologies with Qualcomm (More info...)

posted on Friday, May 20, 2011(Full story)

Aperio Adds To Board
Vista-based Aperio, which develops digital pathology equipment, said Thursday that it has named Thomas Bologna to its board of directors. Bologna is President and CEO of Orchid Cellmark, a provider of DNA identity testing services. Bologna has also served at Quorex Pharmaceuticals, GEN-Probe, and Becton Dickinson Diagnostic Systems.

posted on Friday, May 20, 2011(Full story)

We Helped Twitter With Their Office Space, We Can Help You
We Helped Twitter With Their Office Space, We Can Help You

"PMI Properties was very accommodating to us as our landlord for our first large office space and understands the needs of rapidly growing tech companies like us" - Twitter Facilities Manager

PMI specializes in housing digital technology, software and media companies. We've hosted such companies as Twitter, Google, Scribd, Orbitz,, Yammer, Eventbrite, and Razor Sharp. We know what resources startups need to succeed.

We currently have suites ranging from 1,000 to 31,000 square feet in Santa Monica, Marina Del Rey and Culver City. Please contact us to see our digital tech-friendly creative office spaces.

Call us at 310.476.1703

LAVA hosts PwC's Shaking the MoneyTree
LAVA hosts PwC's Shaking the MoneyTree
Thursday, May 26, 2011
6:00 PM to 9:00 PM
Location: Shutters on the Beach, 1 Pico Boulevard, Santa Monica, CA 90405-1063

Please join LAVA, PwC and a distinguished panel of industry experts and local VCs for their insights on the results of the Q1 2011 PwC/National Venture Capital Association MoneyTree Report based on data from Thomson Reuters.


CheckAlt Payment Solutions
CheckAlt Payment Solutions is a payment processing company providing Check21 services allowing businesses nationwide to utilize its eCheck and patented Remote Desktop Capture (RDC) systems to improve their top and bottom lines. The CheckAlt eCheck is the "email a check" solution that allows businesses from merchants and property managers to universities and non-profits to maximize cash flow and accounting accuracy.

Learn more about CheckAlt at their website,

Vator Splash LA - May 26 - Los Angeles
On the evening of May 26, Vator will be holding its inaugural Vator Splash LA event at The Highlands Hollywood. This upcoming Splash will showcase 10 up-and-coming startups, prominent VCs and founders of the leading LA-based companies - Demand Media and ReachLocal. Hear Shawn Colo, co-founder and EVP of M&A at Demand Media, share his lessons and advice on building Demand from scratch in 2006 to one of this year's hottest IPOs. Shawn will also talk about the future of Demand. Hear Zorik Gordon, co-founder and CEO of ReachLocal, share his lessons and advice on building his startup since 2004 to become one of the hottest tech IPOs last year. With ReachLocal's recent acquisition to get into the daily deals business, Zorik will also address his view on the future of daily deals.

SocalTech has secured a great discount for our members. Use "SocalTech30" for a 30% discount on tickets:

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