Wednesday, May 20, 2015USC At Center Of Alleged Chinese Espionage RingIn some unwelcome news, the University of Southern California looks to be the center of an alleged Chinese spying ring, formed by three former graduate students from the school's electrical engineering school. According to the U.S. Department of Justice, it has charged six defendants with economic espionage and theft of trade secrets, which benefited the People's Republic of China. The indictment names former USC graduate students and now Tianjin University professors Wei Pang and Hao Zhang, alo (More info...)
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SV Angel's David Lee Resigns To Spend More Time In LAVenture capitalist David Lee, who was Managing Partner of seed and angel investing fund SV Angel, one of the most active venture investors in San Francisco, has resigned to spend more time with his family in Los Angeles, the fund told its Limited Partners on Tuesday. According to a memo leaked from the firm, Lee has decided to spend more time with his wife, children, and extended family in Los Angeles. The memo went out to the fund's Limited Partners, founders, and partners on Tuesday. It's unc (More info...)
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Kingston Backs Stealthy Data Center Startup LiqidFountain Valley-based flash memory developer Kingston is the lead investor in Liqid a stealthy developer of data center technology. Liqid said this morning that it raised $5.7M in funding, from Kingston Technology, Phison Electronics Corporation, ABR Capital Management, along with investors aggregated by DH Capital. The company has not announced what it is doing, but the company's CEO, Jay Breakstone, was previously Chairman and CEO of pureSilicon, a developer of solid state storage. Kingston is (More info...)
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March Capital Partners Leads $30M Investment In Coho DataSanta Monica-based venture capital investor March Capital Partners is the lead investor in a new, $30M investment in Coho Data, a developer of high performance, flash-based storage. Coho said that March led the Series C funding, a round which also included Hewlett Packard Ventures, Intel Capital, Andreessen Horowitz and Ignition Partners. March's investment in Cohu is led by Sumant Mandal. March has been ramping up its investment activity recently, having invested in E8 Security, Appcito, and Ag (More info...)
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Kareo Rolls Out Apple Watch AppIrvine-based Kareo, the developer of cloud-based, medical office software, has rolled out a new Apple Watch app, which it says can help physicians improve their medical practice efficiency. Kareo said its new app provides appointment reminders, scheduling updates, and secure communications, all through the new Apple Watch. The new app also offers up analytics into medical practice metrics, including how many patients are scheduled for a day, how many patients are waiting to be seen, and who is i (More info...)
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Auction.com Partners With Chinese Real Estate SiteIrvine-based online real estate marketplace Auction.com said this morning that it has partnered with Chinese online real estate site Juwai.com, which will bring Auction.com's U.S. real estate listings to China. Financial details of the deal were not disclosed. The two companies said the deal will advertise real estate listings from Auction.com to 2.6 million monthly Chinese speaking users, in both mainland China as well as the rest of the world.
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FastSpring Names New CTOSanta Barbara-based e-commerce software developer FastSpring announced late Tuesday that it has named Michael Smith as the company's new Chief Technology Officer. Smith was most recently CTO of Verisk Analytics, and also had served at Interthinx and Strategic Analytics. FastSpring develops cloud-based e-commerce software used by software, cloud, and other online service companies.
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Qualstar Names PresidentWestlake Village-based data storage and power supply manufacturer Qualstar> has promoted Daniel K. Jan, the company's Executive Vice President, to the role of President, the company said late Tuesday. Jan has been EVP of the company since April of last year. Jan takes over the President role from CEO Steven N. Bronson, who remains in the CEO position. Jan previously had served at BDT Products, IBM, and others.
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