Wednesday, February 20, 2013Ambit Biosciences Files For IPO
San Diego-based Ambit Biosciences has filed for an IPO, saying in an S-1 with the SEC that it is looking to raised $57.5M in a funding round. The firm said it intends to list as AMBI on the Nasdaq Global Market. The IPO is being underwritten by Citigroup, Leerink Swann, BMO Capital Markets, and Baird.
Ambit Biosciences is venture backed by Apposite Healthcare Fund, Forward Ventures, GIMV, GrowthWorks, MedImmune Ventures, OrbiMed, Perseus-Soros Biopharmaceutical Fund, Roche, along with othe (More info...)
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Discovering Great, Local Attractions With Idealab-backed CrashAre you tired of the same old tourist guidebooks, and wish you could really find those unique, local attractions in a city? Newly launched Crash is hoping to help solve that problem, by surfacing "photo-worthy" locations around you in its mobile app--sourced from its users. We spoke with Erick Laubach, the founder of Crash--which is backed by famed startup incubator Idealab--to hear about how the company is hoping to tap the power of the crowd to help others find interesting, local attractions. (More info...)
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Hycor Biomedical Sells Unit To Private Equity FirmsGarden Grove-based Hybor Biomedical, which manufactures and markets in vitro diagnostic products for the autoimmune and allergy market, has sold its urinalysis business to an affiliate of One Rock Capital Partners, Laurel Crown Partners, and StoneCreek Capital. Financial terms of the deal were not disclosed. Hycor said that it was advised by Houlihan Lokey and Kirkland & Ellis LLP in the deal. Hycor is backed by Linden Capital Partners.
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CROWDIMPACT LA Dangles $20K Prize For Social Enterprise StartupsCrowdfunder, the Los Angeles startup led by CHance Barnett, has launched another crowdfunding event aimed at the local industry, saying Wednesday that it has launched CROWDIMPACT LA, a pitching competition which will award $20,000 in a top prize to a winning social enterprise company. The event is similar to CROWDSTART LA, a pitching competition the company launched last year. This time, Crowdfunder said it is focusing on companies in the scoial enterprise space, and has partnred with Demand Med (More info...)
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ParkMe Wins Parking Services FirmSanta Monica-based ParkMe, the startup which is developing parking information services and apps, reported today that it has entered into a partnership with ABM Parking Services, and will launch and power ABM's mobile app. Financial impact of the win were not disclosed. ParkMe said that the new app will provide parking information, including real-time occupancy and reates, for bnearly 2,000 ABM parking facilities. The companies said that ABM Parking Services is one of the largest operators of pa (More info...)
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FastPay Tops $100M In Funding To CustomersLos Angeles-based FastPay, which provides specialized line of credit to online publishers, e-commerce companies, videogame companies, and other digital media companies, reports this morning that it has placed over $100M in funding to over 100 customers since its launch in 2010. The company, which is headed by Jed Simon, offers up short term credit lines to web publishers and other digital businesses who typically face 60 day or longer payment cycles.
The firm says it recently expanded into a (More info...)
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Insights and Opinions: Why Silicon Beach Is FlourishingFor our Insights and Opinions section this morning, we have a contribution from Ron McElroy, the CEO and founder of Real
Office Centers, which has rapidly become of the gathering places for the growing Silicon Beach startup community.
Silicon Beach, as the white-hot start up market in Santa Monica is referred to, is exploding with activity. Albeit the second fiddle to its well known uncle up north, Silicon Valley with a number of high-tech success stories to lay claim such as Google, Paypa (More info...)
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Lifescript Claims GrowthMission Viejo-based Lifescript, which operates an online women's health site, claimed that it saw strong growth in 2012. The firm says it now has more than 28 million registered users, and saw a 38 percent increase in advertising and sponsorship revenue from 2011 to 2012. Actual financial details were not released by the company. Lifescript, which is led by Ron Caporale, says it now sees 11.5 million unique visitors a month. The firm's site offers up articles on health, food, relationships, diet (More info...)
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Broadcom Debuts Geolocation ChipIrvine-based Broadcom has announced a brand new, geolocation chip, which supports the GPS, GLONASS, QZSS and SBAS satellite systems, and also features new geofencing capabilities, the company said today. The company said its Global Navigation Satellite System (GNSS) chip is aimed at use in always-on, location-aware applications such as social networking, place-based mobile commerce and local merchant advertising. According to Broadcom, the chip consumes 60x less power than other chips while runn (More info...)
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Infinitely Virtual Says Revenues Jumped In 2012Santa Monica-based virtual server and cloud computing provider Infinitely Virtual is bragging today that it has seen a revenue jump of 70 percent in 2012, due to interest from small and midsized businesses in its services. The firm--which didn't disclose any actual revenues--said it now expects to grow more than 50 percent in the current year. Infinitely Virtual is led by Adam Stern, and offers up cloud-based versions like QuickBooks and Microsoft Office.
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Masimo Wins U.Va.Irvine-based health monitoring products developer Masimo announced a win at the University of Virginia Medical Center, the firm announced this morning. Masimo said that the center is using its Hemoglobin (SpHb) and Acoustic Respiration Rate (RRa) technologies with its pulse oximeters, in its operating rooms, obstetric, and surgical intensive care units. Financial impact of the win was not dicslosed.
posted on Wednesday, February 20, 2013(Full story)