Wednesday, June 29, 2011StyleMint Opens Early AccessStyleMint, the newest celebrity-and-ecommerce site from BeachMint, the startup headed by MySpace founder Josh Berman and Diego Berdakin, has opened up early access to select supporters of the site. StyleMint is being run in conjunction with celebrity twins Mary-Kate and Ashley Olsen. The early access invite, send Wednesday afternoon, says that users can sign up to create a "style profile" to get access to custom T-shirt designs from the Olsens, which will cost $29.99 per month. StyleMint will be (More info...)
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Justin Timberlake Backs Myspace AcquisitionIrvine-based Specific Media, the Internet advertising network run by Tim Vanderhook, has released further details on the company's acquisition of Myspace, saying that Justin Timberlake is taking an ownership stake and major role in the acquisition. According to Specific Media, Timberlake and the firm will unveil their vision for the site later this summer. The company said that Timberlake will play a major role in developing the creative direction and strategy for MySpace, with a plan to "revita (More info...)
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Amazon Threatens To Pull California Affiliates
Online retail giant Amazon.com is threatening to pull its California affiliates, as efforts to tax online purchases in the state gains steam. In an email to Amazon Associates who are located in California, Amazon said that it will terminate the associates program for California-based participants, as of the date of any law on the issue becomes effective. The move would not be the first for Amazon, which has been fighting a running battle with states, who have been aggressively trying to tax pu (More info...)
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Ixia Acquires VeriWaveCalabasas-based Ixia, the provider of network testing equipment and software, said earlier this week that it has acquired VeriWave, a provider of wireless testing devices. Financial terms of the acquisition were not announced. VeriWave is a provider of wireless LAN and Wi-Fi performance testing equipment. The deal is expected to close on July 18th. VeriWave was venture backed by TL Ventures, US Venture Partners, Montlake Capital, Alloy Ventures, and Woodside Fund. VeriWave's VP of Marketing happ (More info...)
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MySpace Acquired By Specific MediaLos Angeles-based MySpace, the once dominant social networking website, has been sold to Irvine-based Specific Media, the online advertising network, in a deal reportedly worth $35M. According to Specific Media, News Corporation will take a minority equity stake in Specific Media as part of the deal. As part of the buy, current MySpace CEO Mike Jones will be leaving the company after a transition period. The acquisition of MySpace has been rumored for months, as the site transitioned into a musi (More info...)
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Foodme Shuts DoorsPasadena-based Foodme, the online, real-time, restaurant deals site funded by Idealab, apparently has shut down, according to a statement on the firm's web site. According to the statement, the site decided to "close down Foodme and move on to other ventures." The shutdown comes only a few months after Foodme launched out of Idealab's New Venture Group. The firm did not detail the reasons behind the shutdown on its site. It's unclear when the site actually shut down; the firm had only launched i (More info...)
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Groupon Now Hits San DiegoDaily deals giant Groupon has expanded its location-based deal platform, Groupon Now into San Diego, the firm said Wednesday. Groupon Now offers up real-time, location specific deals via a mobile application or web page, and are good only for a day. The deals include special deals on restaurants, and are targeted at merchants who want to attract extra customers in real-time. Groupon already offers up the service in Los Angeles, as well as Boston, Chicago, Dallas, New York, and other locations.
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Ligand Pharmaceuticals Gets $10M In Credit FacilitySan Diego-based Ligand Pharmaceuticals, a biopharmaceuticals firm, has raised $10M in a credit facility from Square 1 Bank. Square 1 said the $10M included an initial $5M in credit secured in March, which was increased by another $5M in April. Ligand did not say what it intends to do with the credit line.
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USC, New York Times Partner On Online Education CoursesThe University of Southern California and the New York Times said this week that the two are partnering to provide online, continuing education courses this fall, across seven different study areas. According to the two, they will offer classes in architecture, arts management, business, cinematic arts, communications, medicine and politics for the fall 2011 semester, via the New York Times Knowledge Network. The NYTimes has been running its educational efforts since September of 2007. It's been (More info...)
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ShareSquare Wins NBC UniversalLos Angeles-based ShareSquare, the QR code software firm headed by Matthias Galica, said this week that it has scored a win with NBC/Universal, and will be powering a campaign for the DVD releases of The Adjustment Bureau and Blue Crush 2. ShareSquare said it is providing QR codes to point users at mobile trailers, photos, and other information for packaging for the DVD releases of those two titles. Financial impact of the win was not disclosed. ShareSquare said NBC/Universal also is taking usin (More info...)
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SeeVolution Gains $530K More In Angel RoundLos Angeles-based SeeVolution, the online web analytics and heatmap firm headed by Edo Cohen, has raised $530,000 in angel funding, the firm said this morning. The firm says it has now raised over $730,000 in funding from angel investors. Source of the new funding was not disclosed. SeeVolution said the funding will go towards development of new services and features, as well as other tiers of services and products. Seevolution provides a real-time, analytics and heatmap service which shows clic (More info...)
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ICON Aircraft Raises $25MManhattan Beach-based ICON Aircraft, which is developing sport aircraft, said today that it has raised $25M in a funding round. The firm said the financing came from investors Satyen Patel and Bart Becht, along with Google Chairman Eric Schmidt, Phil Condit, the former CEO of Boeing, and un-named, Silicon Valley venture capitalists. The funding is divided into an initial, $15M tranche with a $10M option. ICON Aircraft is headed by Kirk Hawkins. Patel and Becht both join the firm' sboard. Patel i (More info...)
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Demand Media Partners With REISanta Monica-based Demand Media, the online publishing empire run by Richard Rosenblatt, has inked a partnership with outdoor retailer REI. The companies announced the deal today. According to the two, they are in a three-year partnership, which will provide outdoor enthusiasts with information on recreation locations on REI's website, as well as connect shoppers with gear on Demand's Trails.com web site. Financial details of the collaboration were not disclosed. Trails.com is Demand Media's onl (More info...)
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uSamp Expands In EuropeLos Angeles-based uSamp, the online surveying firm headed by Matt Dusig and Gregg Lavin, said today that it has launched a new London office. The firm said the new office is part of a European expansion for the company. uSamp said the new office comes after triple digit revenue growth last year, and a doubling of its employees since 2010. uSamp provides online survey and panel services, allowing market researchers to conduct online panels. uSamp said the new office will be overseen by Gaelle Nor (More info...)
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Payoff.com Launches Personal Finance Site, Backed By $3.5MLos Angeles-based Payoff.com, a new startup led by Scott Saunders, said Tuesday that it has officially launched its free, social finance site. The firm said it is backed with $3.5M in investment capital from FirstMark Capital, as well as angel investors Betsy Bernard, the former President of AT&T; Kai Huang, founder of Guitar Hero; Jim Nordstrom, former president of Nordstrom; David Solomon, Global co-head of Investment Banking at Goldman Sachs, and others. Payoff.com's web site centers around s (More info...)
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Maxwell Technologies Gets $500,000 For Energy Storage TechnologySan Diego-based Maxwell Technologies, which is developing ultracapacitor-based energy storage products, reported today that it is slated to receive more than $500,000 in state and federal funding for its technology. The firm said $300,000 of that funding comes for collaborative R&D programs with battery manufacturer Yarney Technical Products, centered around Maxwell's electrode fabrication process for lithium-ion batteries. The other $200,000 comes in conjunction with Calgon Carbon Corp., and Na (More info...)
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Pringo Merges With Florida FirmLos Angeles-based Pringo, a developer of online portal and social collaboration tools, has merged with Florida-based MobileBits, the firms said today. The two said that Pringo's stockholders will own 50 percent of MobileBits, and MobileBits' stockholders will own 50 percent of MobileBits after the acquisition. Pringo was advised by Siemer & Associates, and MobileBits was advised by Rodman & Renshaw in the deal. Pringo's white label, social networking software was used by companies to develop the (More info...)
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Nevolution Launches PC App StoreWoodland Hills-based Nevolution is launching its PC-based, app store today, saying it is hoping to make it as easy to buy full fledged, PC software as it is to buy mobile applications. The firm said it is trying to make it easier for users of Microsoft Windows to find and purchase software for their computers. Nevolution's desktop client and storefront, Avenue, is launching with about 100 PC titles. The firm is also targeting Windows software developers and publishers, allowing them to launch th (More info...)
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Kotura Opens China OfficeMonterey Park-based Kotura has opened up a new office in Shenzhen, China, the firm said Tuesday. According to the company, the new office will provide sales and marketing, manufacturing and R&D support to its customers in China. The new office will be headed by Yicheng Lu, who was most recently at JDSU. Kotura is a manufacturer of silicon photonics products for the communications, computing, sensing and detection markets.
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