Monday, April 3, 2017Report: Southern California Startups Focus More On M&A, ProfitA new report, issued by Silicon Valley Bank over the last week, has found that Southern California startups are far more focused on being acquired than on IPOs, and also on making profits, compared with most startups. The SoCal Startup Outlook compared the responses of entrepeneurs from San Luis Obispo to San Diego, versus the views of a total of nearly 950 entrepreneurs across the U.S., U.K., and China. In the report, SVB found that 58 percent of local startups believe the "realistic long-term (More info...)
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Wpromote Buys Prime VisibilityEl Segundo-based digital marketing agency Wpromote announced this morning that it has acquired Prime Visibility, a New York-based digital marketing agency. Financial details of the acquisition were not announced. Wpromote, which is led by Mike Mothner, said the buy brings its staff to over 330 employees. The acquisition will also help it establish an East Coast presence and expand offerings into new industries, according to the company. Wpromote said it is adding a team of 30 employees from Prim (More info...)
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SpaceX Signs Launch Deal with Global-IPHawthorne-based SPaceX has signed up yet another customer for its rocket launch business, Cayman Islands-based Global-IP Cayman. Global-IP Cayman, which is working on providing satellite Internet to Sub-Saharan Africa, said it has signed a launch services deal with SpaceX for its first satellite. Financial details of the deal were not announced. Global-IP said the satellite, GiSAT-1, will be its first, and will provide Internet services to Sub-Saharan Africa. Global-IP Cayman said its satellite (More info...)
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Skyworks Gets Design Win With Sierra WirelessIrvine-based analog semiconductor maker Skyworks is in a design win with Sierra Wireless, to power that company's new line of wireless modules. Skyworks said that Sierra Wireless will use its 3G/4G technologies for its AirPrime HL Series wireless modules, which are aimed at the machine-to-machine (M2M) and device-to-cloud applications. Shipping volumes and financial impact of the deal were not announced, however, Skyworks said Sierra Wireless is using 17 different Skyworks devices in those desig (More info...)
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MEI Pharma Names New CFOSan Diego-based MEI Pharma, which is developing cancer treatments, said today that it has named Brian Drazba as its Chief Financial Officer. Drazba was most recently CFO of Heron Therapeutics, and also had served at ISTA Pharmaceuticals, Insight Health, and Arthur Andersen & Co. Drazba is replacing Thomas Zech, who the company says is retiring after four decades in the industry. Zech had been CFO since June of 2010.
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AeroVironment Releases New EV Charger ProductMonrovia-based AeroVironment is expanding its lineup of chargers for the electric vehicle market, with a new product specifically aimed at the forklift and materials handling market. According to AeroVironment it has launched a new product, ConnectRx, as part of its PosiCharge ProCore line of electric forklift chargers. The company said the new product implements a new sophisticated charge algorithm, battery thermal management, and anti-arc technology. Pricing on the new electric vehicle chargin (More info...)
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Independa Hires Away VP From WebMDSan Diego-based Independa, which is creating technology used to help seniors live longer independently at home, has named former WebMD executive Jennifer Willey as its Chief Business Officer. Independa said that Willey was previously Senior Vice Prisident of Consumer Strategy and Partnerships at WebMD Health Corporation. She also has served at Yahoo, AOL, Sharecare, and Everyday Health, along with working as a news anchor and reporter at CBS and ABC affiliates in South Carolina and New York. Ind (More info...)
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aTyr Pharma Expands BoardSan Diego-based aTyr Pharma announced this morning that it is expanding its board of directors, adding independent director Jeffrey S. Hatfield to its board. Hatfield was most recently President and Chief Executive Officer of Vitae Pharmaceuticals. Hatfield served in that position from March 2004 until October 2016, when Vitae was acquired by Allergan for $639M. Hatfield also served at Bristol-Myers Squibb.
posted on Monday, April 3, 2017(Full story)