Monday, June 18, 2012Yahoo Taps Former MySpace Exec For Revenue ChiefIt looks like Ross Levinsohn is building out his team to help out at troubled web portal and media firm Yahoo. The company said Monday that it is tapping the former Executive Vice President and Chief Revenue Officer at Fox Interactive Media / MySpace, Michael Barrett, as its new Executive Vice President and Chief Revenue Officer, under interim CEO Ross Levinsohn, the firm said Monday. Barrett was most recently at Google, where he had been since 2008, when Google acquired Admeld, where he was CEO (More info...)
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SmartDrive Systems Raises $47M For Better DrivingSan Diego-based SmartDrive Systems, which develops driving safety systems for managing driving fleets, said Monday afternoon that it has raised $47m in a new funding round. The firm said the round was led by Oak Investment Partners and New Enterprise Associates, and also included Stanford University. The firm--which develops video-based driving monitoring systems--said it will use the funding for channel partners, accelerating customer adoption, and research and development. The funding came on (More info...)
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Sonos Scores $135M For Music Systems, Says ReportSanta Barbara-based Sonos, the maker of user-friendly, whole house music systems, has raised $135M in a funding round, according to reports today. According to AllThingsD, citing "sources close to the situation", the funding included both primary and secondary financing, and was led by Kohlberg Kravis Roberts, along with Redpoint Ventures and Elevation Partners. No details of the funding have yet been announced by Sonos, which is notorious about keeping mum about its venture funding and financia (More info...)
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Citrix Links Podio Into Cloud StorageThe Santa Barbara, online division of Citrix has tied in its work collaboration sofwtare Citrix Podio, into cloud storage service YouSendit, bringing the firm's service to a chunk of the cloud storage services market. According to Citrix, Podio--used for secure content sharing, signatures, and access--is now integrated with ShareFile, SugarSync, Microsoft SkyDrive, Box, Dropbox, Evernote, Google Drive and Google Docs and YouSendIt. Citrix Podio is a new, cloud-based collaboration product acquire (More info...)
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SmartDrive Systems Snags Former Veoh CEOSan Diego-based SmartDrive Systems said Monday that it has named Steve Mitgang as its new CEO. Mitgang was previously CEO of Veoh, and also had served at Senior Vice President of Yahoo!'s advertising products, platforms, and services. SmartDrive develops systems which are used by fleet managers to record road data, which helps improve safety, fuel efficiency, and reduce collisions.
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Interview with Rob Kramer, HipSwapAre you tired of the plain text interface on Craiglist? Think eBay is just too tough to use? Los Angeles-based HipSwap is trying to break the mold of online marketplaces, with its highly visual, mobile and online marketplace for fashion and other items. Rob Kramer, the firm's CEO, tells us about the inspiration behind the site, as well as its recent launch of what it calls a cross between Craiglist and Pinterest. HipSwap is venture funded by Founders Fund; Greycroft Partners; Barodo Ventures; Br (More info...)
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Astute Networks Gets $12MSan Diego-based Astute Networks, a developer of a flash-based iSCSI networking device used in the data center market, said this morning that it has raised $12M in a Series B funding round. The round was led by Samsung Venture Investment Corporation (SVIC), and also included Tallwood Venture Capital, Narra Venture Capital, Ayala Capital, ICCP Venture Partners, and TIFF (The Investment Fund for Foundations). Astute said the funding will go towards funding its sales, marketing, channel development, (More info...)
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Qualcomm Buys Summit MicroelectronicsSan Diego-based Qualcomm said today that it has acquired Summit Microelectronics, a developer of programmable power integrated circuits. Financial terms of the buy were not disclosed. Qualcomm said the acquisition includes all employees of Summit Microelectronics, who become part of the company's CDMA Technologies division. Qualcomm explained that the acquisition will enhance its power management roadmap.
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Sonos Opens Retina, Android Tablet BetaSanta Barbara-based Sonos, the developer of the whole-home, user friendly music systems which connect to a user's smartphone or PC, said Friday that it has opened up new open beta for users of its systems with iOS devices with Retina displays, and Android tablets. According to Sonos, it is updating its apps--the Sonos Controllers for iPhone and iPad--for the new high resolution displays, and also has been testing out improved behavior of its Android tablet app, in landscape orientation. Sonos di (More info...)
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Ambrx in Collaboration Deal With MerckSan Diego-based Ambrx, a venture backed biopharmaceuticals firm, said this morning that it has entered into a deal with Merck. Ambrx said the deal with Merck is to design and develop rationally optimized biologic drug conjugates based on Ambrx's site-specific protein medicinal chemistry technology. Ambrx said the deal includes a $15M, upfront payment, and up to $288M in milestone payments for successful discovery, development, and commercialization.
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Illumina Files Another Patent Suit Against Complete GenomicsSan Diego-based Illumina, the developer of scientific and life science tools and equipment, said this morning that it has filed another, patent infringement suit against Complete Genomics. Illumina said that it filed a patent in the U.S. District Court for the Southern District of California. The firm says that Complete Genomics has infringed on its patent, U.S. Patent No. 8,192,930, entitled "Method for Sequencing a Polynucleotide Template." Illumnia said it is seeking "all available remedies," (More info...)
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