Friday, April 20, 2012Playsino Gets $1.5M For Casino GamesLos Angeles-based Playsino--which, until recently, was known as Titan Gaming--said Friday that it has raised $1.5M in a new funding round. The firm said the firm will go to support building the largest, social casino game publisher on both social networks and mobile platforms. The funding came from IDM Venture Capital, Pacific Capital Group, Siemer Ventures, and angel investors, including Jordan Simons, Wicks Walker, Tomorrow Ventures, Jim Armstrong, and Michael Huskins. As part of the funding, (More info...)
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Report: Chumby Has Shut DownSan Diego-based Chumby, which had developed Internet-connected, alarm-clock like devices and similar technology, has shut down, according to a report Friday. Chumby--which had been backed by JK&B Capital, Avalon Ventures, Masthead Venture Partners, and O'Reilly AlphaTech Venture--was known for its Linux-based, open platform which let users access Internet content and other services. The firm had raised on the order of $25M in funding for its efforts. The Verge, which first reported the news, sai (More info...)
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Curbsy Launches iPhone Food Ordering AppLos Angeles-based startup Curbsy said Friday that it has launched a new, photo-driven food ordering app for the iPhone, West LA Takeaway. The startup said the app---very specifically aimed at consumers on the west side of Los Angeles--will let consumers order from favorite area restaurants, view dishes, browser user reviews, and order for takeout or delivery. Curbsy is headed by Justin Kahn, who was a co-founder of WireImage.com.
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Aerovironment Gets $5.5M Order From U.S. Marine CorpsMonrovia, California-based Aerovironment, which makes unmanned aerial vehicles (UAVs) for the military, said Friday that it has scored another military order worth $5.5M. The firm said the win is with the U.S. Marine Corps, for the firm's RQ-20A Puma AE unmanned aircraft systems. Aerovironment said the USMC is now the first military service to implement four of its different small unmanned aircraft systems; the Marines have also used its RQ-14 Dragon Eye, Aerovironment Wasp, and RQ-11B Ravens. A (More info...)
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Samueli, Musk Join Buffett, Gates In Pledge To Give Away WealthTwo Southern California technology entrepreneurs--Henry Samueli, who co-founded Broadcom, and Elon Musk, who heads up Hawthorne-based SpaceX--have joined Warren Buffet and Bill and Melinda Gates in adding their names to the Giving Pledge, the effort started by Buffett and Gates to giave away at least 50 percent of their wealth in their lifetimes or at death to charity. The Giving Pledge added twelve billionaires Thursday at a private, hosted dinner in Southern California yesterday with Buffett. (More info...)
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Sapphire Energy CEO Steps DownSan Diego-based Sapphire Energy, the venture backed developer of algae-based biofuels production technology, said Friday that CEO Jason Pyle will step down as CEO. The firm said that Pyle will remain a member of the company's board of directors. Pyle said he has decided to "move on to my next endeavor", which will be announced shortly. president and Chairman Cynthia "C.J." Warner will become CEO of the company. Pyle co-founded Sapphire Energy. Sapphire is just coming off a $144M, Series C fundin (More info...)
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Local Corporation Signs Deal With ConsumerInfo.comIrvine-based Local Corporation, the online publisher of local business guides, said Thursday that it has signed a deal with Experian's ConsumerInfo.com, to provide targeted ad campaigns for the site. Financial details of the deal were not disclosed. Local said the deal calls for it to help increase consumer reach and conversion for Experian's site, which provides credit reports, credit scores, credit monitoring, and other related information.
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RealD Launches Stock Buyback EffortLos Angeles-based RealD, the developer of 3D movie projection technology, said Friday that it has authorized an up to $50M repurchase of its common stock, as it looks to boost its stock price. The firm's stock price has been languishing at around $11.00 per share--below what it had its IPO at nearly two years ago. The company said the move "demonstrates our confidence" in the firm's future. RealD, which is headed by Michael V. Lewis, also said it has entered into a new, $125M credit facility, wh (More info...)
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Southern California Bucks VC Trend, As Firms Raise $924.13M In Q1The latest numbers from the MoneyTree Report from PricewaterhouseCoopers, The National Venture Capital Association, and Thomson Reuters have tallied up just under a billion dollars in venture capital investments in the Southern California region in Q1 of this year, a very significant uptick from Q2 of 2011. Southern California's investment totals bucked a downward national trend in venture capital investing. According to the MoneyTree Report, $924.13M was invested in Southern California in Q1 of (More info...)
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