Monday, October 3, 2011Idealab Ramps Job HiringIn an unusual move for an otherwise dismal job market, Pasadena-based Idealab is joining the ranks of local companies doing aggressive recruiting of technology talent, saying today that it is running a technology job fair next week for its companies. According to Idealab, it will pitch its various businesses to potential employees at an event on Wednesday, October 12th, in hopes of hiring staff for its startups. Idealab did not say how many positions is is looking to fill, however, the firm join (More info...)
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Savings.com Hit By Google UpdateA lot of focus has been given on how much search algorithm changes at Google have impacted the fortunes, and traffic, of Los Angeles-based Demand Media. However, another Los Angeles technology firm Savings.com appears to have seen some major traffic changes on its site this week due to a recent update from Google, according to a report today. Searchmetrics, a provider of SEO tools and analysis, delivered a list of the sites most affected by updates to Google's new search algorithm, Google Panda (More info...)
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Tecca Aims At WomenVenice, California-based Tecca, the online and mobile site providing articles, reviews, how-to articles, and other information about electronics products, said Monday that it is now reaching over one million unique visitors a month. The site, which launched a year ago with the backing of Best Buy, said its audience target is now females, moms and mainstream consumers, who are interested in the practical usage of technology. The site says it is now the largest technology website specifically cate (More info...)
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Local Universities Get $360K From DOE For Cleantech EntrepreneurshipThree local universities, plus a Pasadena-based startup, have received a $360,000 grant to promote student entrepreneurship in clean technology. According to Pasadena-based green marketplace firm OnGreen, the California Institute of Technology (Caltech), UC Los Angeles (UCLA), and University of Southern California (USC) scored a grant from the U.S. Department of Energy to help foster student entrepreneurs via a business plan competition run by the group called First Look West. The new effort, le (More info...)
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Napster Acquired By Best BuyLos Angeles-based Napster is being acquired by Best Buy, the firms confirmed this morning, where Rhapsody will acquire both Napster's subscribers and other assets, and Best Buy will receive a minority stake in Rhapsody. Financial details of the deal were not disclosed by the companies. According to the two, the deal is expected to close on or around November 30th. Rhapsody said the deal will "further extend Rhapsody's lead" over competitors. Los Angeles-based Napster was acquired by Best Buy in (More info...)
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Napster Going To Rhapsody, Says ReportA report today says that Napster, the online music service now owned by Best Buy, is being sold to Rhapsody. Citing "sources familiar with the deal", CNET said that Rhapsody is interested in acquiring Napster from Best Buy, but did not disclose if the deal was in discussions, in progress, or has closed. Los Angeles-based Napster was acquired by Best Buy in September of 2008 in a deal which was worth net value of approximately $54M.
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StyleSpot, Backed by Idealab, Merges With KaboodleLos Angeles-based StyleSpot, an online fashion and social shopping site founded by Rafi Gordon and Alex Amin, has been acquired by Kaboodle, the online social shopping site owned by Hearst Corp. Kaboodle announced the acquisition late Friday. Financial terms of the acquisition were not disclosed. StyleSpot was venture backed by Idealab, and had been founded in 2009. According to Kaboodle, Gordon and Amin will continue as co-CEOs of the company, operating as an individual website. Kaboodle also s (More info...)
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WhoSay Gets Funding To Connect Celebrities With Social MediaWhoSay, a New York-based startup with Los Angeles offices, said this morning that it has raised a funding round from Greylock Partners. The firm, headed by Steve Ellis and which was co-founded by Creative Artists Agency (CAA), said it is looking to become the personal media management platform for celebrities and influencers. Other investors in the firm are Amazon Investments and High Peak Ventures. Financial terms of the investment were not announced by the company. Ellis is the former founder (More info...)
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Hulu Launches Personalized Ad FeatureLos Angeles-based Hulu said Monday that it has rolled out a new feature which will let users pick their own commercials mid-stream, flipping any commercial to another advertising choice on its site. According to Hulu, its new Hulu Ad Swap feature will allow users to swap out ads they are watching for another one, which they feel is more relevant to them. The new feature allows users to click to an alternate ad, instead of the one they are currently watching, if they would instead prefer to watch (More info...)
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Websense Powers Facebook Security FeatureSan Diego-based Websense, the developer of web security software, is announcing a partnership today with Facebook, where all of the external links on Facebook will be run against the Websense database of malicious sites, according to multiple reports. Details on the business deal have not been disclosed. The deal will help Facebook users avoid malware and other potential Internet links when they click on any external links on Facebook.
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Awareness Technologies Boosts Channel Sales TeamLos Angeles-based Awareness Technologies, a developer of security software aimed at preventing internal data leaks, said today that it has bolstered its channel sales effort with two executive hires. The firm said it has appointed Dean Galbreath as Vice President of Channel Sales. Galbreath joins the company from McAfee, where he had managed that firm's PartnerFocus channel program in the Western Region. He also has served at MX Logic, IBM, Siemens, and ROLM, among other experience. The firm als (More info...)
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Cornerstone OnDemand Plans New Cloud ProductsSanta Monica-based Cornerstone OnDemand, the developer of talent management software headed by Adam Miller, said today that it has launched a new set of products. According to the company, it will be introducing new cloud-based offerings of its products, including Cornerstone Performance Cloud, Cornerstone Learning Cloud, Cornerstone Extended Enterprise Cloud and the Cornerstone Recruiting Cloud, with general availability in 2012. The firm said that the cloud-based versions of the software will (More info...)
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Vitesse Cuts Guidance On Soft DemandCamarillo-based Vitesse Semiconductor, the maker of communications ICs, has cut its fourth quarter estimates, saying today that it is seeing "softening of global demand" for its products, particularly in the Asia Pacific region. The firm, whose chips are used in high speed networking equipment, said it is now expecting revenues of $29 to $30.5M, down from an earlier forecast of $35.0 to $38.0M. Due to the slowdown in demand, the firm said it had taken moves to "reducing operating expenses"--howe (More info...)
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Spotlight Wins Cincinnati BengalsCalabasas-based Spotlight Ticket Management System, the developer of ticketing automation software, said today that it has signed the Cincinnati Bengals as a customer. Spotlight did not disclosed financial details of the win, but said the Bengals will provide the company's software to clients, which will allow them to manage private suites and season tickets. Spotlight is venture backed by Point Judith Capital, and headed by StubHub vets Joe Greiner, Tony Knopp, and Aric Haut.
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