Wednesday, May 15, 2013


Splash Debuts iPhone App For Social Sharing
Santa Monica-based Splash, a startup developing an iPhone app which lets users connect with others around their passions and interests, has launched its app in the iPhone store. The app, which is free, was created by Rory Reiff and Michael Wilson. The app allows users to follow photos based on not usernames--but tags and topics they are interested in. The app also allows users to comment on those various photos and control who sees their posts on the app, and shares them on Twitter and Facebook.
posted on Wednesday, May 15, 2013(Full story)

DreamHammer Launches Drone, Robot Control Software
In the second piece of aerial drone news to come out of Southern California today, Santa Monica-based software developer DreamHammer said it has launched a beta of its drone control software, aimed at controlling unmanned drones and robotics from multiple, different manufacturers in a single system. The company said its Ballista intelligent control platform has been providing its software to the defense, intelligence, and homeland security market. The company said it is now looking at applying t (More info...)
posted on Wednesday, May 15, 2013(Full story)

Kotura Acquired By Mellanox
Monterey Park-based Kotura, the developer of silicon photonics and optical interconnection technology, has been acquired by Mellanox, the companies announced Wednesday. The deal was worth $82M in cash. The two companies said the deal is expected to close in the second half of the year, and will help Mellanox bolster its ability to deliver cost-effective, high-speed networks with next generation optical connectivity. Mellanox--which is based in Israel--said it expects that it will establish its f (More info...)
posted on Wednesday, May 15, 2013(Full story)

Insights: Raising Growth Capital
For today's Insights and Opinions section today, we tap into the wisdom of Ivan Nikkhoo, an experienced entrepreneur, investment banker and VC at Siemer & Associates, and who is an advisor to Siemer Ventures. Nikkhoo gives some insights into the skill of raising growth capital. Many entrepreneurs are skilled at starting companies, and building successful small ones. Not a simple thing to do, but they seem to have a knack for it. Growing a company into a big, growing, successful one i (More info...)
posted on Wednesday, May 15, 2013(Full story)

Airware Gets $10.7M From Google, Andreessen For Unmanned Drone Technology
Looking to build your own unmanned aerial vehicle? A new, Newport Beach-based startup, Airware, has raised $10.7M to develop all of the infrastructure for buildling your own, commercial drone, from Andreessen Horowitz and Google Ventures. According to the company, its Series A financing will go towards expanding its team, meeting customer demand, and scaling for growth. Airware said the new funding comes on top of existing funding from First Round Capital, Firelake Capital, RRE Ventures, Shasta (More info...)
posted on Wednesday, May 15, 2013(Full story)

Freeconference.com Acquired By Canadian Firm
Glendale-based Global Conference Partners, the operator of the free, conference calling service FreeConference.com--as well as related properties InstantConference.com, GlobalConference.com, and other brands--has been acquired by Canadian teleconferencing provider iotum. Financial details of the acquisition wer enot announced. According to iotum, it will continue to operate the services from its Glendale, California location, with no loss of jobs as a result of the acquisitoin. Iotum operates t (More info...)
posted on Wednesday, May 15, 2013(Full story)

Green Dot Sets July 4th Launch Of GoBank
Green Dot, the provider of prepaid debit cards and other financial products, is looking to launch its big move into the mobile banking market on July 4th, the company said Tuesday afternoon. According to Green Dot, it plans to launch its service, GoBank, on Independence Day on iPhone, Android, and online--and also will be making a big, national push to market the service. GoBank is Green Dot's big move to capture the mobile generation of consumers, with a mobile-only bank--sans retail branche (More info...)
posted on Wednesday, May 15, 2013(Full story)

Skift Lands $1.1M for Travel Publishing
Skift, the online travel publishing site started by Rafat Ali--the founder of Paidcontent.org, which was based in Santa Monica--has raised $1.1M in a new funding round. The funding came from Lerer Ventures, along with Ironfire Angel, MESA+, Advancit Capital, Growlab+LX Ventures, Jason Calacanis, Michael Cunniff, Duncan Jennings, Sean Keener, Shakil Khan, Martin Nisenholtz, Paul Noglows, and Michael Yavonditte. Skift is based in New York. Ali's new travel site focuses on travel industry relat (More info...)
posted on Wednesday, May 15, 2013 (More)(Full story)

eHarmony Gets A Makeover
Online dating and matchmaking site eHarmony is looking to update the company's image, and has gotten a makeover--looking to prove that it's still in the dating game. The Santa Monica-based company said that it has launched a next generation site, which it had codenamed "Malibu", to drive new growth and new members for the service. The new design comes as many in the industry have pointed to a new, competitive era, due to the rise of mobile platforms, tablets, and a move away from the traditional (More info...)
posted on Wednesday, May 15, 2013(Full story)

Sorenson Media's Csathy Departs To New Digital Media Effort From Manatt
Peter Csathy, the CEO of San Diego's Sorenson Media, and digital media veteran, has departed the company, and will head up a new legal and investment group formed by Manatt, Phelps & Phillips. According to Manatt, Csathy will head up a new effort called Manatt Digital Media Ventures, which will both make new digital media investments in companies, as well as provide professional services to the high tech industry. Manatt said the funding will come from the Manatt Venture Fund, an early stage ven (More info...)
posted on Wednesday, May 15, 2013(Full story)

ScoreBig.com Wins United MileagePlus
Online live entertainment ticket marketplace ScoreBig.com has signed on a big new partner this morning, United MileagePlus. Los Angeles-based ScoreBig.com, which is headed by ticketing industry vet Adam Kanner, said that it is the exclusive marketing partner for live-event ticketing for MileagePlus. The deal allows MilagePlus members to earn miles on tickets they buy, and also allows users to trade in their miles to purchase tickets to live events on ScoreBig.com's marketplace. Financial detai (More info...)
posted on Wednesday, May 15, 2013(Full story)

Kite Pharma Raises $35M
Los Angeles-based Kite Pharma, a biotechnology company developing immunotherapies for cancer, said today that it has raised $35M in its Series A funding round. The firm said that the funding came from Alta Partners, David Bonderman, Pontifax Ltd., Commercial Street Capital, and Michael Milken, along with its founder, Arie Belldegrun. Kite Pharma said the round included $20M in new funding plus conversion of $15M in outstanding promissory notes. Farah Champsi of Alta Partners, and Ran Nussbaum (More info...)
posted on Wednesday, May 15, 2013 (More)(Full story)

Kofax Selected By Mortgage Finance Firm CashCall
Irvine-based Kofax, which develops document capture and process automation software, said today that it has been selected by mortgage loan processing company CashCall. Kofax said that CashCall is using its mobile app to streamline and automate mortgage loan processing. Financial details of the win were not disclosed. Kofax explained the mortgage lending company is using mobile devices to capture mortgage documents required for applications, including paycheck stubs, W-2's, investment account sta (More info...)
posted on Wednesday, May 15, 2013(Full story)

MediaShift Snags Clear Channel Media Vet As CFO
Newport Beach-based digital advertising firm MediaShift has snagged the former CFO of Clear Channel Media and Entertainment, as its CFO, according to the company. MediaShift, which provides digital advertising for private Wi-Fi networking providers, as well as for web publishers, said Baran was most recently Executive Vice President and CFO at Clear Channel Media and Entetaiment, heading up financial planning and operations for 850 nationwide radio stations. Baran also served at CBS TV, Tyco In (More info...)
posted on Wednesday, May 15, 2013(Full story)