Tuesday, October 15, 2013Sofie Biosciences Lands $5M In Series ACulver City-based molecular imaging products maker Sofie Biosciences said Tuesday that it has raised $5M in a Series A funding round. The funding was led by Tata Industries, and also included MRM Capital and the Cycad Group. Sofie Biosciences--which is a spinout of UCLA and Caltech--said the funding will go towards further development of its technology. The company is developing molecular imaging probes and devices, which it says helps reduce the cost and complexity of Positron Emission Tomograp (More info...)
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Media Temple Acquired By GoDaddyLos Angeles-based hosting provider Media Temple has been acquired by GoDaddy, the two companies announced Tuesday. Financial terms of the acquisition were not disclosed. Media Temple was founded in 1998 by Demian Sellfors, and is currently headed by Russell P. Reeder. According to GoDaddy, the two companies will continue to operate independently. Media Temple's customers include Sony, Nordstrom, The Wall Street Journal, Starbucks, IBM, Volkswagen, and many others. The company had 225 people in i (More info...)
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Prolacta Opens New Facility For Human Milk ProcessingProlacta Bioscience, the venture-backed startup which is developing human milk-based products for treating premature infants, said this morning that it has opened up a new, 67,000 square foot facility in the City of Industry. The company said the new building will provide pharmaceutical grade manufacturing of its human milk-based products, as well as three cleanrooms and a giant freezer with 115,560 cubic feet for storing human milk. Prolacta has developed a process which extracts the critical p (More info...)
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Newlight Gets Investment From Private Equity InvestorIrvine-based Newlight, a company developing technology which turns greenhouse gases into plastic, has raised an additional funding from private equity investor METRIX Capital Group. Size of the investment was not disclosed, however, METRIX said it doubled its stake in Newlight last week. Newlight's technology uses processes to turn carbon dioxide from methane-based biogas and rich CO2 environments, and converts those into thermoplastic polymers, which the company says matches the performance of (More info...)
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Savings.com Targets Grocery Shopping With New Coupon App, Favado
Los Angeles-based online coupon site Savings.com has made a major expansion today, into the grocery coupon and shopping market. According to the company, it has launched a new app called Favado, which provides grocery coupon information, sales information, and printable grocery coupons to consumers. The new app--which runs on Android and iPhone--taps into an extensive network of grocery bloggers for its information, according to Savings.com CEO Loren Bendele, to pull up not only the latest dea (More info...)
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Demand Media's Rosenblatt ResignsIn a surprise move, Santa Monica-based Demand Media said late Monday that founder, Chairman, and CEO Richard Rosenblatt has resigned from the company. Demand Media said that it has appointed Shawn Colo as interim President and interim CEO, effective immediately, with James Quandt taking the Chairman position. Reason for Rosenblatt's departure was not given. Demand Media said it will begin a search for a permanent CEO shortly. Colo was most recently Executive Vice President, Corporate Development (More info...)
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Kelley Blue Book Debuts New Car Pricing ToolIrvine-based automtive information provider Kelly Blue Book announced a new product today, a new car pricing tool it is calling the Kelley Blue Book Price Advisor. According to KBB, its new tool provides a range of prices, and also highlights different local dealerships, consumer ratings and reviews of those dealerships, specials on new cars, and inventory of those dealers. KBB said its new tool provides "price zones" showing pricing for specific make, model, and trim combinations of cars, refle (More info...)
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Specific Media Targets Consumers By The Car They DriveIrvine-based Specific Media, the online advertising provider--and parent firm of MySpace--said today that it has launched a new advertising targeting product which allows automotive advertisers to target households based on what cars are currently in their garage. According to Specific Media, its new multi-screen, targeting solution is aimed at helping market new vehicles to consumers, with the firm calling it a "killer app" for automakers looking to promote new vehicle launches or events. Speci (More info...)
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Glip Launches Team Collaboration ServiceLos Angeles-based Glip said today that it has launched a new service which is aimed at helping teams become more productive. Glip is led by Peter Pezaris, who was previously founder and CEO of Multiply (sold to Naspers), and also founded sports site Commissioner.com. According to Glip, its platform helps teams share documents, track tasks, share calendars, and more via a team conversation stream. Glip offers its service at $5 per user per month, or $50 per year.
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DriveCam Wins Driving FleetSan Diego-based DriveCam reported a win today with a transportation fleet carrier serving the Southern United States. According to DriveCam, Predestination Transportation is rolling out DriveCam's driver safety systems to its entire fleet. Financial details and size of the deployment was not announced. Predestination Transportation provides food service distribution in the southeastern states of Alabama, Georgia, Florida, Mississippi, Tennessee, southern South Carolina and eastern Louisiana. Dri (More info...)
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