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Uber could be forced to shut down its ride-hailing app in California for several months if a court doesn’t overturn a recent ruling that classifies its drivers as full-time employees, CEO Dara Khosrowshahi said in an interview with MSNBC. “It’s hard to believe we’ll be able to switch our model to full-time employment quickly,” Khosrowshahi said, noting it would force the company to temporarily shut down.
After going through a difficult breakup, Elle Huerta created what she thought she and others in her situation needed: an app for women who had recently split from their partners.
Are you a renter, tired of landlords always claiming damages and never returning your security deposit? San Diego-based Deposit Defender says it has launched a new app, which helps renters photo-document rental property inspections, in order to prevent future loss of their security deposits. According to Deposit Defender, its app includes a comprehensive checklist and photo-taking protocols that accurately document the condition of a rental property before renters move in, and was developed by e
So, you’ve found the buyer, received a letter of interest, signed it, and exclusively tied your company up for a period to complete the deal. Everyone on the board is anxious to close this. You’ve committed time to do whatever is needed. You’ve informed your top management of the pending but still secret deal and they know they will be impacted and are a bit skittish.
Office leases are one of companies’ largest expenses, and if your whole team is working from home with no clear end in sight, you may be wondering what to do about your lease.
One of the most frequent questions I get as a mentor to entrepreneurs is “How do I find the money to start my business?” I always answer that there isn’t any magic, and contrary to the popular myth, nobody is waiting in the wings to throw money at you, just because you have a new and exciting business idea. On the other hand, there are many additional creative options available for starting a business that you might not find for buying a car, home, or other major consumer item.
Among the casualties of the COVID-19 pandemic: the credibility of government agencies entrusted with protecting public health. The FDA this week granted emergency use authorization for convalescent plasma as a treatment for infection by the novel coronavirus. FDA Commissioner Stephen Hahn and Department of Health and Human Services Secretary Alez Azar both misrepresented the magnitude of benefit shown in the clinical data used to justify the decision.
Nearly eight years ago, Hamet Watt and Stacy Spikes launched MoviePass , the subscription-based movie ticketing service that captured the minds and dollars of investors and brought thousands of cinephiles a too-good-to-be-true deal for all-you-can watch movie passes. Watt, who came to MoviePass as an entrepreneur in residence at True Ventures, previously founded the brand and product placement startup NextMedium and also spent time as a board partner at Upfront Ventures.
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Nearly eight years ago, Hamet Watt and Stacy Spikes launched MoviePass , the subscription-based movie ticketing service that captured the minds and dollars of investors and brought thousands of cinephiles a too-good-to-be-true deal for all-you-can watch movie passes. Watt, who came to MoviePass as an entrepreneur in residence at True Ventures, previously founded the brand and product placement startup NextMedium and also spent time as a board partner at Upfront Ventures.
Torrance-based electric vehicle developer Canoo Inc. has announced plans to go public through a reverse merger in a deal designed to provide $600 million in total capital.
Uber has threatened to shut down its service entirely in California, for at least a "several months", after a California superior court judge ordered both Uber and Lyft to reclassify its drivers as employees. In an interview on MSNBC, Uber CEO Dara Khosrowshahi said that "it's hard to believe we'll be able to switch our model to full-time employment quickly," saying that it would have to shut down its on-demand ride service in California "for several months" if the court doesn't overturn its rul
First, what’s a “deal book?”. Maybe you have not heard the term, “deal book.” That’s a comprehensive piece on a company for use by a buyer in determining fit. A “deal room” is a cloud-based or physical space dedicated to storing the massive amounts of data to be used in due diligence by a buyer, lender or by an investor. Your data room and its contents.
The critical success factors for a product business are well known, starting with selling every unit with a gross margin of 50 percent or more, building a patent and other intellectual property, and continuous product improvement. If your forte is a service, like consulting or web site design, it’s harder to find guidance on what will get you funded, and how you can scale your business.
Bayer has been building up its women’s health drug pipeline by striking deals and on Tuesday the pharmaceutical giant unveiled its latest one : $425 million up front for KaNDy Therapeutics, a biotech whose experimental menopause drug is projected as a blockbuster seller. KaNDy’s small molecule drug, NT-814, is in development as a treatment for common symptoms of menopause, such as night sweats and hot flashes.
Los Angeles was always more than a one-industry town, even when it comes to technology startups, as media and entertainment (and social networking) were always the big draws in Tinseltown. Now the city’s enterprise tech scene can claim a really big winner with Signal Sciences , the security monitoring and management company that is getting bought by Fastly , a provider of content delivery networking services, for $775 million. “Our team couldn’t be more excited about the opport
San Diego-based renewable energy developer EDF Renewables North America has partnered with Abu Dhabi-based Masdar , a subsidiary of Mubadala Investment Company, on a series of eight renewable energy projects in the United States. Financial details of the deal were not announced. According to the two companies, Masdar will acquire a 50 percent stake in a 1.6-gigawatt (GW) clean energy portfolio.
Have you experienced a business failure? Are you currently at risk due to events you cannot control? Not all companies are successful. Your end game could be a failure of the business. In fact, many angel investors or venture capitalists look for and respect the lessons learned by entrepreneurs that have survived a failed business. The key question is: Why did an entrepreneur fail?
Technology is so key to every business these days that experienced business-smart but non-tech entrepreneurs are feeling deeper and deeper in the hole. Even if they realize that they need real technical strength at the top, they are not sure how to attract and select the talent and expertise they really need. Should they go after high-tech nerds for partners, or professional technologists?
Not long ago, having early data about how an experimental drug worked in humans was expected of biotechs considering IPOs. Dyne Therapeutics may not reach human testing until 2022, but, like many of its preclinical peers this year, the company is choosing to jump into public markets now while investor interest in the biotech sector is riding high. In paperwork filed with securities regulators late Tuesday, Dyne set a preliminary $100 million target for its IPO.
Derek Norton and Jeremy Milken have known each other for twenty years. Over their longtime personal and professional relationship, the two Los Angeles-based serial entrepreneurs have invested in each other’s companies and investment firms, but never worked together until now. Milken is taking the plunge into institutional investing, joining Norton as a partner in Watertower Ventures just as the firm prepares to close on a $50 million new fund.
San Diego-based Formsense , a startup developing wearables and "smart apparel", says it has been chosen as a technology partner for a $2.4M grant from the National Institutes of Health (NIH). According to the company, it is part of a team from Umass Amherst, which is looking to deploy and test a new mobile health system--based on its wearables--to monitor and encourage movement and activity in the weak upper limb of stroke survivors in an ambulatory setting.
Remembering our original vision. When we start a business, we are optimistic that we will succeed and dream of riches to follow when the company is sold or even getting all the way to an IPO. Some of us build our businesses to be lifestyle creations, destined to provide for our families but not necessarily as creators of great equity upon an eventual sale.
I always tell entrepreneurs that two heads are better than one, so the first task in many startups is finding a co-founder or two. You need to find the skills or experience you don’t have in business, technology, or money. So the first question I usually get is what percent of the company or equity is that person worth? Giving a co-founder a salary won’t get you the “fire in the belly” you want.
A Phase 1 trial testing a Poseida Therapeutics cell therapy in men with prostate cancer is on hold after a patient enrolled in the study died of liver failure nearly three weeks after receiving the treatment. The San Diego company, which has touted its product candidates as safer than early-generation versions developed by other companies, announced the FDA’s decision to pause the study on Monday.
Amanda Milligan. Contributor. Share on Twitter. Amanda Milligan is the marketing director at Fractl , a prominent growth marketing agency that’s helped Fortune 500 companies and boutique businesses alike earn quality media coverage, backlinks, awareness and authority. More posts by this contributor. We throw away 80% of our content ideas, and you should too.
Miso Robotics Inc., the Pasadena-based robotics and artificial intelligence company, has appointed tech veteran Michael Bell as its new chief executive.
Carlsbad-based FASHIONPHILE , and e-commerce company which sells pre-owned luxury handbags, watches, and fine jewelry, has raised $38.5M in a Series B funding round. The funding was led by private equity firm NewSpring Growth. The company is also backed by Neiman Marcus. FASHIONPHILE was founded in 1999. According to the company, the new funding will go towards operational and geographic scaling, allowing it to further expand its footprint and regional fulfillment centers, both domestically and
Sunday, September 6, 2020 -- National Business Plan Competition Deadline/Pismo Ventures. Pismo Ventures presents the National Venture Plan Competition (NVPC). The NVPC is a business plan competition offering startups and entrepreneurs, across the United State, a unique opportunity to present their plans to experienced investors, screen in front of multiple investor groups nationwide, win cash and in-kind prizes, and participate in an array of invaluable webinars.
In my experience, consummate entrepreneurs tend come up with more startup ideas than they can ever implement, and some of the ideas may not even make business sense. But how does any entrepreneur know which ideas to implement, and which ones are best left behind? After all, most great breakthroughs, like a computer in every home, seemed like a crazy idea before Steve Jobs and Bill Gates made it happen.
Acadia Pharmaceuticals has acquired Texas biotech CerSci Therapeutics, a privately held company with a clinical-stage molecule under evaluation as a potential therapy for post-surgical and nerve pain. The San Diego-based company splashed out $52.5 million on the buyout, a cash-and-stock deal—$47.2 million of it in Acadia shares, according to a regulatory filing —that closed Monday.
Bankers have a huge asset on their balance sheet that they are not managing: the traffic that flows daily to desktop and mobile Digital banking platforms. Non-bank Digital marketers spend fortunes to generate “organic traffic”—meaning people who come to their platforms because they are interested in the content, rather than arriving after clicking on an ad.
Miso Robotics Inc., the Pasadena-based robotics and artificial intelligence company, has appointed tech veteran Michael Bell as its new chief executive.
Southern California Gas Co. , the primary supplier of natural gas to customers in Southern California, reports that it has received over $7M in funding from the U.S. Department of Energy (DOE), to advance its work on zero- and near-zero emissiosn vehicle technology. The company said $7.1M in funding from the DOE will go towards projects led by Cummins, Inc., GTI and West Virginia University Research Corporation, which will advance fuel cell technology for on-road trucking and transit, near-zero
One of the characteristics that every good investor looks for in an aspiring entrepreneur is resilience , or the ability to learn from and bounce back after a failure. You don’t have to have previous startup problems to show resilience – everyone should have a story of tackling a tough challenge with minimal success, but using the failure to move on and achieve an objective.
Don’t miss out on savings for this year’s online Xcelerate Keynote Series at Biotech Week Boston – our early bird sale ends this Friday! Speakers include: Jeff Baker – Deputy Director, Office of Biotechnology Products, FDA Michelle McMurry-Heath – President & CEO, BIO John Maraganore – CEO, Alnylam Pharmaceuticals Yvonne Greenstreet – Chief Operating Officer, Alnylam Pharmaceuticals Andrew Plump – President, Research & Development, Takeda Dhavalk
“I gotta say it was a good day.” I’m so fricking pumped today. Really, truly. Yeah, Valence announced > $5 million in funding led by GGV and Upfront. That IS a big deal, but I’ll get to that. But Kamala Harris was picked to be the Vice Presidential candidate for the Democratic Party. That means she’ll be the first female Vice President of the United States, the first female Black Vice President and the first Indian-American Vice President.
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