Wednesday, August 10, 2016
SoCal Sees Summertime Surge In Exits
In what looks to be an unprecedented surge in high profile, high value exits for high tech companies in Southern California, there have now been six big exits in the region over the last month worth over $100M. Those exits--worth more than a collected $3.8 billion--include the recent sales of Vizio, Dollar Shave Club, Nervana Systems, TouchCommerce, and Orbitera, and Aurrion. Irvine-based Vizio was sold for $2 billion to Chinese television maker LeEco; Santa Monica-based Dollar Shave Club was sold to Unilever for $1 billion; San Diego-based Nervana Systems sold for $350M to Intel; Agoura Hills-based TouchCommerce sold to Nuance for $215M; Santa Barbara-based Aurrion sold to Juniper Networks, for $165M, and West Hollywood-based Orbitera sold to Google for $100M. The exit activity has been far and wide across the region, ranging from Santa Barbara to San Diego, and providing stunning returns for a large list of venture and angel investors in those companies.