Friday, September 9, 2016Obalon Therapeutics Files For IPOCarlsbad-based Obalon Therapeutics has filed for an IPO, saying Friday morning that it is looking to raised $75.0M in an IPO on the NASDAQ Global Market. The company has applied to list as OBLN. The company's IPO is being underwritten by UBS Investment Bank, Canaccord Genuity, Stifel, and BTIG. The company is venture backed by Domain Partners, InterWest Partners, Bader SUltan & Bros, and Okapi Venture Capital. Obalonis developing and commercializing a baloon-based medical device to treat obese a (More info...)
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Report: Snapchat Opens Credit Line From Morgan StanleyA report says that Venice, California-based instant messaging app developer Snapchat has just opened up a new line of credit from Morgan Stanley. Size of that credit line, and terms, were not announced. The report--from Recode--cites "multiple sources" in the report, and speculates that Snapchat is looking to avoid further shareholder dilution and equity. Recode also said--despite earlier rumors--Snapchat is not yet ready for an IPO filing.
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SpaceX's Musk: Launch Failure Most Difficult In 14 YearsHawthorne, California-based SpaceX, the space rocket firm led by tech mogul Elon Musk, appears to be facing what Musk called "the most difficult and complex failure we have ever had in 14 years", after the explosion of its rocket on a launch pad in Florida last week. Musk said on Twitter that the Falcon 9's engines "were not on" and that "there was no apparent heat source" in the failure, which occurred when filling the spacecraft's fuel tanks. In an unusual appeal to the public, Musk asked any (More info...)
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CheapAir.com Offers Up Financing For Airline FlightsCalabasas-based online travelbooking site CheapAir.com, in what looks to be the first by a travel company, will let its customers pay on installment for an air flight, through a partnership with financial services technology provider Affirm. According to CheapAir.com, it will let users pay for flights using a monthly payment plan, letting users pay for flights using 3-, 6-, and 12-month purchase plans. CheapAir.com said it specifically launched the new payment option to reach customers, such as (More info...)
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TaskUs Boosts Executive Staff With Trio Of Hires, Now Has 5300 EmployeesSanta Monica-based TaskUs, the fast growing provider of outsourced customer experience and back end services for online companies, said it has hired three new executives on Thursday, to help it with its growth efforts. TaskUs said it has named Balaji Sekar as its new Chief Financial Officer, Christopher McLaughline-Brooks as Chief Information Officer, and Lital Gilad-Shaoulian as Senior Vice President of Sales and Marketing. Sakar was previously at PatientSafe Solutions, Sutherland Global Servi (More info...)
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ViaSat, Eutelsat Win Scandinavian Airline SASCarlsbad-based ViaSat, the provider of satellite-based Internet services, and partner Eutelsat said today that they have signed a new deal with Scandinavian airline SAS, to provide on-board Wi-Fi for SAS. Financial details of the win were not announced. According to the two, SAS will be adding on-board Wi-Fi for its short and medium-haul fleet, with the first aircraft to enter service in the second half of 2017. The deal follows an agreement announced earlier this month, where ViaSat will use Eu (More info...)
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LRES Sets New Sales VPOrange, California-based real estate technology and services provider LRES has named Mike Bye as its new Vice President of Sales, according to the company. Bye will be responsible for reporting on all sales activities and establishing and managing client relationships. LRES did not give details on Bye's prior experience, only saying he had worked at a "Jacksonville, FL-based provider of third-party bundled services and front-end lending technology". Bye's LinkedIn profile shows he had two very b (More info...)
posted on Friday, September 9, 2016(Full story)