Monday, April 2, 2012Illumina Rejects Latest Roche OfferSan Diego-based Illumina, the developer of genetics analysis and other life sciences tools, has again rejected an unsolicited bid from Roche to take over the company. Roche had upped its offer for Illumina to $51.00 last week, up from an earlier, $44.50 per share bid from the company. The new offer is worth around $6.7 billion. Illumina said the new offer "dramatically undervalues" the company. Roche launched its takeover of Illumina in January.
posted on Monday, April 2, 2012(Full story)
Make It Work Swizzles PricingSanta Barbara-based Make It Work, the on site technical support and computer repair service headed by Eric Greenspan, said Monday that it has switched its services to a new fixed-price, per-service model. The firm said it will now offer up its various computer services starting at $99.99, which includes services such as new computer setup, wireless network setup, and TV setup. The firm also will offer specific service add-ons like application installs and other help at $35. The shift is a signif (More info...)
posted on Monday, April 2, 2012(Full story)
HipSwap Reveals Funding From Greycroft, Founders FundLos Angeles-based HipSwap, the online, fashion focused marketplace which launched earlier in March, has revealed that it has raised $1.1M in a seed funding round from the Founders Fund and Greycroft Partners. The firm--which launched at SXSW--offers up a service which looks to help connect local buyers and sellers, combining a delivery service, mobile apps, and photo sharing in its online marketplace. HipSwap is headed by Rob Kramer. It's unclear when the funding was raised by the company.
posted on Monday, April 2, 2012 (More)(Full story)
Yet Another LA Incubator Opens: Io/LAIf the Los Angeles accelerator/incubator market is not yet crowded enough, Hollywood-based io/LA opened its doors over the weekend, looking to recruit a class of five to six companies in a three month mentorship program. The new incubator, which is run by Aber Whitcomb, the former CTO of MySpace, said it will run quarterly classes of startups, who will received $25,000 and office space, in exchange for 8 percent of their firms. Io/LA is an offshoot of an incubator in San Francisco. Io/LA joins a (More info...)
posted on Monday, April 2, 2012(Full story)
Secondary Exchange SecondMarket Cuts 10 Percent Due To Facebook HaltSecondary private stock trading exchange SecondMarket cut 10 percent of its staff Friday, as a direct result of Facebook halting trading of its stock on secondary exchanges, in a reflection of how much of a percent of Facebook has represented the business of the private marketplace. SecondMarket--along with competitor SharePost, the secondary stock trading exchange started by Greg Brogger and Scott Painter started out of Santa Monica-based incubator Brighthouse--had relied in a large extent on a (More info...)
posted on Monday, April 2, 2012(Full story)
Nexsan Pulls IPOThousand Oaks-based storage systems developer Nexsan has officially pulled its IPO plans, saying in a regulatory filing today with the SEC that it has decided to withdraw its IPO registration. Nexsan, which had filed for an IPO in April of 2008, cited "unfavorable market conditions" for the withdrawal. Nexsan was one of a number of local technology companies who had hoped to reach the public markets, and came to the brink of an offering in April of 2010. The firm had set an initial expected offe (More info...)
posted on Monday, April 2, 2012(Full story)
Report: Fisker Automotive Boosts Fundraising Plans By $200M MoreIrvine-based Fisker Automotive is hoping to raise $200M more in a current funding round, according to a report today, and has now raised around $1 billion in private funding. The report game from GigaOm, which untangled the pile of regulatory filings issued by Fisker Automotive. The report said that Fisker is now in the midst of raising a $500M funding round, up from earlier plans to raised $300M in February. Fisker has been working through some significant issues in its path to market, includin (More info...)
posted on Monday, April 2, 2012(Full story)
Eucalyptus Systems Opens Lab In ShanghaiSanta Barbara-based cloud computing software firm Eucalyptus is opening up a new, joint R&D lab in Shanghai, China, after inking a strategic partnership with a Chinese company. According to Eucalyptus, it as signed a strategic partnership with China Electronics Technology Group Corporation No. 32 Research Institute (CETC32), a large IT solutions and service provider in China. Terms of the deal were not disclosed. Eucalyptus said that CETC32 will use its solutions to implement cloud computing dep (More info...)
posted on Monday, April 2, 2012(Full story)
Broadcom Powering Not Only iPhone, iPad, but Android TooIrvine-based Broadcom, the semiconductor developer, is not only powering the iPhone and iPad--having been identified as one of the major component makers in those Apple hit devices--but apparently is behind a lot of the horsepower behind the Android market, with smartphone maker Samsung using the company's chips in its latest line of low-end Android phones. According to a J.P. Morgan analyst, Broadcom's chips are now in roughly a third of Samsung's smartphones, including Samsung's Galaxy Y, Gala (More info...)
posted on Monday, April 2, 2012(Full story)
TrueCar Launches Dealer CouncilSanta Monica-based TrueCar, the online car purchasing firm headed by Scott Painter, is further ramping up its outreach to dealers, saying this morning that it has formed a new "National Dealer Council" which will work with experienced dealers to recommend and improve collaboration between the company and auto dealers. TrueCar said the council will be led by Gary Marcotte, former Senior Vice President of Marketing and eCommerce at AutoNation. The new council looks to be part of a concerted push b (More info...)
posted on Monday, April 2, 2012(Full story)
Sapphire Energy Raises $144M MoreIn what appears to be the biggest alternative energy investment in the region so far this year, San Diego-based Sapphire Energy, a developer of biofuels technology aimed at crude oil production, said today that it has raised $144M in a Series C funding round. Sapphire Energy said the funding came from Arrowpoint Partners, Monsanto, and other, undisclosed investors, along with all of its Series B investors. Sapphire Energy says its funding now "substantially exceeds" $300M. Sapphire Energy is dev (More info...)
posted on Monday, April 2, 2012(Full story)
Spaceport America Gets Runway Extension For Virgin GalacticLanding requirements for the space vehicles being developed by Mojave-based Virgin Galactic, the space tourism startup being built by Virgin Group's Richard Branson, are necessitating a $7M, runway extension at Spaceport America. According to reports, the further work at Virgin's launch and landing site in New Mexico will cost $7M, funded by local taxpayers, and are being made to address safety concerns of Virgin Galactic. Virgin Galactic apparently determined, through test flights and simulatio (More info...)
posted on Monday, April 2, 2012(Full story)
SpiritClips Acquired By HallmarkLos Angeles-based SpiritClips, an online video service and short film producer, has been acquired by greeting cards firm Hallmark. Financial terms of the acquisition were not disclosed. SpiritClips offers up an online, subscription service which streams inspirational, "uplifting" films to users, including a digital greeting card component of the service which delivers positive and uplifting messages to recipients. The startup was founded by Rob Fried, who will remain as CEO of the ocmpany. Hallm (More info...)
posted on Monday, April 2, 2012(Full story)
2tor Gets $26M MoreOnline higher education startup 2tor, which has offices in Los Angeles and a prominent deal with the University of Southern California, said this morning that it has raised $26M in a Series D funding round. The round was led by The Hillman Company, and also included SVB Capital, WestRiver Capital, Bessemer Venture Partners, Highland Capital, Redpoint Ventures, Novak Biddle Venture Partners and City Light Capital. 2tor develops online, college education degree programs, including a major deal wi (More info...)
posted on Monday, April 2, 2012 (More)(Full story)
FastSoft Adds IPv6 SupportPasadena-based FastSoft, the developer of web acceleration appliances, said today that it has added support for IPv6 traffic with its products. The company, whose products are based on research originally developed at Caltech, said its E Series acceleration appliance now support the IPv6 protocol. FastSoft's appliances are used to speed up streaming video, file downloads, and other website access, using software techniques originally developed for accelerating the next generation Internet2 netwo (More info...)
posted on Monday, April 2, 2012(Full story)