Tuesday, July 18, 2017Who's In Southern California's Unicorn Club?The list of technology startups in Southern California who are "unicorns"--valued at more than $1 billion--surprisingly, might not be who you think, and in the sectors you might expect. A look at the companies who are private, backed by venture capital, and are valued at more than $1 billion across Southern California -- from San Diego to Los Angeles to Santa Barbara -- is an interesting contrast in the wide range of types of technology companies across the region. (and no, there aren't any ente (More info...)
posted on Tuesday, July 18, 2017(Full story)
Rubicon Project Buys nToggleLos Angeles-based online advertising exchange operator Rubicon Project has acquired programmatic advertising technology developer nToggle, in a deal worth $38.5M in cash. The deal was completed on July 14th, according to Rubicon Project. Rubcion Project said the technology developed by nToggle will be made available on Rubicon Project's platform in the coming months. nToggle was based in Boston, Mass.
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Snap Inc.'s Spectacles Now On AmazonHave you been pining for your own Spectacles from Snap Inc. since they launched in November only selling them from disappearing vending machines? Never got a chance to run to Snap's bricks and mortar store in Venice? Never bothered to order one directly from Snap?. Well, you can now buy those same Snapchat Spectacles from Amazon.com, for $129.99.
posted on Tuesday, July 18, 2017(Full story)
Floravere Aims To Fill Gap Left By Bridal Firm's BankruptcyLos Angeles-based online wedding dress startup Floravere, which offers up wedding dresses via its online site, it hoping to take advantage of the sudden bankruptcy of a more traditional competitor this week. According to Floravere, it will be offering up free dresses from its last collection to brides who had purchased, but not received their gowns from bankrupct bridal firm Alfred Angelo Bridal. The startup, led by founder Molly Kang, is backed by LA investor MuckerLab. Alfred Angelo Bridal fil (More info...)
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SendGrid Plans Expansion In Orange CountySendGrid, which provides email delivery services for such companies as Airbnb, Spotify, Pandora and Uber, said this morning that it is planning a major expansion in Orange County. The company said that the expansion--part of an overall expansion in California--includes a new lease for a 22,000 square foot office in Irvine. The company said it hopes to be able to accommodate more than two times its current number of California employees over time, split between that office in Irvine and one in R (More info...)
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Valeant Pharmaceuticals To Sell Off Obagi Medical For $190MValeant Pharmaceuticals said on Monday that it is selling Irvine-based Obagi Medical Products, in a deal worth $190M in cash. Valeant is selling Obagi, which makes skin care products, to Haitong International honghua Finance Acquisition Fund I. Valeant said the sale will "streamline our operations and reduce debt". Valeant paid $344M for Obagi Medical back in 2013.
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ObEN Raises $5M From TencentPasadena-based ObEN, the developer of artificial intelligence software led by Nikhil Jain, said this morning that it has raised $5M in a strategic funding round, led by Tencent Holding. According to ObEN, the funding also included Li Ruigang, Chairman of CMC and Fengshion Capital. ObEN said it has now raised a total of $13.7M in funding for its efforts to create "personal AI" software. ObEN's software allows users to create a virtual avatar that looks, sounds, and behaves much like the user, usi (More info...)
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j2 Global Buys Four More CompaniesLos Angeles-based j2 Global, the provider of Internet services and digital media publisher, has acquired four more cloud companies, the company said on Monday. j2 Global said it has acquired MyPhoneFax, which operates Fax87 and Onlinefaxes.com; CloudRecover, an Australian cloud backup provider; WeCloud, a cloud email company in Sweden; and Simitu, a cloud email provider in Denmark. According to j2 Global it will use the acquisition to grow its customer base, access new markets, and expand its pr (More info...)
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Cubic Buys DeltennaSan Diego-based Cubic Corporation said this morning that it has acquired Deltenna Limited, a Chippenham, United Kingdom-based wireless infrastructure company, which designs and delivers radio and antenna communications solutions. According to Cubic, it will use the acquisition of Deltenna to enhance its tactical communications and training capabilities. Financial details of the acquisition were not announced. Deltenna was founded in 2002, and provides wireless communications technology based on (More info...)
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Syneron Candela Goes Private In $400M Deal With ApaxIrvine-based aesthetic medical device developer Syneron Medical announced late Monday evening that it has become a private company, in a $400M go-private deal with Apax Partners. According to Syneron Medical, funds advised by Apax Partners paid $11.00 per share in cash for the company. The deal had originally announced on April 3rd. As part of the go-private deal, Syneron said that Geoffrey Crouse has been appointed CEO of the company, and also has joined its board. Crouse is the former CEO of C (More info...)
posted on Tuesday, July 18, 2017(Full story)