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Eight years after San Diego biotech Prometheus Laboratories was acquired by Nestlé Health Science , the diagnostic business has been sold again, this time to a little-known biotech called Precision IBD that plans to lay off approximately a quarter of Prometheus’s workforce. Precision IBD, which is also based in San Diego, is a drug and diagnostic developer that’s focused on inflammatory bowl disease, and has a direct tie to Prometheus: Precision’s chief medical officer, Steph Targan, is a
Amazon is quickly moving forward on its plans to challenge Hawthorne-based SpaceX in the race to providing high speed Internet across the globe, saying in an FCC filing last week that it hopes to launch 3,236 satellites as part of its own satellite network. According to Amazon, its "Project Kuiper" project would connect tens of millions of people throughout the world.
Doctours , a Los Angeles-based online platform for booking trips and treatments for medical and dental care around the world, is expanding its services to 35 countries. Founded by serial travel entrepreneur Katelyn O’Shaughnessy, whose last company TripScope was acquired by Travefy, Doctours aims to connect patients with doctors to receive access to quality, affordable healthcare around the world.
Round 18 of the TechEmpower Framework Benchmarks project is now available! When we posted the previous round in late 2018, the project had processed about 3,250 pull requests. Today, with Round 18 just concluded, the project is closing in on 4,000 pull requests. We are repeatedly surprised and delighted by the contributions and interest from the community.
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.
Santa Monica-based on-demand scooter company Bird is in an expansion in Europe, and has opened up an office in Paris, with plans to hire up to 1,000 people in the city, according to the company. Bird said that the new office will be its largest European hub, with employees there hadling operations, government partnerships, legal, marketing and communications.
Car shoppers now have several new options to avoid long-term debt and commitments. Automakers and startups alike are increasingly offering services that give buyers new opportunities and greater flexibility around owning and using vehicles. Cars-as-a-Service. In the first part of this feature , we explored the different startups attempting to change car buying.
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Car shoppers now have several new options to avoid long-term debt and commitments. Automakers and startups alike are increasingly offering services that give buyers new opportunities and greater flexibility around owning and using vehicles. Cars-as-a-Service. In the first part of this feature , we explored the different startups attempting to change car buying.
Are you a virtual manager? Can you be effective if you are a “virtual” manager, commuting from home or a home office and being with your employees only part time? Measuring your performance. In a virtual environment, people measure you mostly by your actions, and remember only the most recent good work you’ve done for them and for the organization. The typical scenario for a virtual manager.
Laguna Hills-based Centercode , a developer of software used for managing product and customer testing efforts, has raised $4M as part of an ongoing, $6M funding round, according to a regulatory filing by the company this week. Details on the funding have not yet been announced. The funding appears to include Parallax Capital Partners, FTV Capital, and HGGC, among others, with Richard Campbell of Parallax, James Hale of FTV, and Richard White of HGGC sitting on the company's board of directors.
[ Editor’s note: This is part of a series examining the internet’s first 50 years and predicting the next half century. Join Xconomy and World Frontiers Forum on July 16 for Net@50 , an event exploring the internet’s past and future. ] Bob Metcalfe co-invented Ethernet, the communications standard still used for most local on-site networking, but Radia Perlman made it work.
Thursday, July 18, 2019 -- All about TikTok. Startup Coil. Do you know that the team behind its success works in your own backyard? Learn more about the TikTok team, our app, and how short-form vertical videos are changing the content ecosystem through a cross-functional panel of members of the TikTok team. See [link].
Westwood-based growth equity investment firm 3L Capital announced July 8 it raised a $217 million equity fund to continue investing in local companies.
San Diego-based Chatmeter , a provider of local search marketing and reputation management services for multi-location businesses, has raised a round of investment from private equity investor Providence Strategic Growth (PSG). Financial details of the investment were not announced. Providence Strategic Growth is the growth equity fund of Providence Equity Partners.
Most of the entrepreneurs I have met are smart, but many are not always wise. That means they may show great insights into a new technology that has marginal business value, their passion may motivate team members more than customers, or they may allow themselves to be pulled over the ethical line in their success drive. Wise leaders are authentic, timeless, and enduring.
Wednesday, July 17, 2019 -- El Segundo Tech and Aerospace Networking @ Smoky Hollow Tasting and Taproom. Join us for South Bay Tech and Aerospace Happy Hour in Hermosa Beach! We are building Aerospace and Tech community in the South Bay. See [link].
Camarillo-based Semtech , which develops analog and mixed signal semiconductors, has scored another design win for its LoRa wireless technology. According to Semtech, Hangzhou Water Meter Co. (HWM), Ltd. has incorporated its LoRa technology into a "smart water metering" product. Shipment volumes and financial impacts of the win were not announced. Semtech's LoRa wireless products allow for the low power transmissions of wireless data, and have become popular with Internet-of-Things (IoT) and oth
While everyone agrees that the “ gig economy ” is really here, the practical realities, other than not counting on long-term employment, are not so obvious. In my role as a mentor to many business professionals, I still see some who have no idea how to adapt to the new realities. The simple answer is that we all have to start thinking like entrepreneurs, rather than entitled employees.
More than a third of the companies that went public in the first half of this year were backed by venture capital. That, plus robust merger and acquisition activity, set a record for venture-backed exit value—$165.2 billion in money returned to investors—that’s already topped all other full-year totals, according to the latest VentureMonitor, the quarterly report on venture capital investment complied by the National Venture Capital Association and PitchBook.
Ensuring contractor diversity on a major infrastructure project used to be straightforward: SEt a goal for the percentage of work that goes to minority-owned or women-owned businesses then find those businesses to encourage them to bid. Now, though, achieving a diverse contract base is a much more roundabout process. Under state law passed in 1996, public agencies are prohibited from showing preferences based on ethnicity or gender in awarding contracts.
Santa Monica-based MomentFeed , which develops software that helps national brands keep information on their stores up to date across mapping and mobile services, has named Nick Hedges as CEO of the company, MomentFeed said this morning. Hedges is a longtime Southern California technology veteran, who was most recently President and CEO of Velocify.
Starting and running a company is a team effort. Yes, it takes a leader (entrepreneur), but you can’t do it alone, without a team. Maybe only you and a co-founder comprise the team at first, to provide key skills, back you up, and test your ideas. As the startup grows, the team has to be able to really push you in making growth decisions, rather than you pulling them along.
Amgen and Novartis are stopping work on an experimental Alzheimer’s disease drug after an early look at clinical data showed worsening cognitive function in patients. The interim results announced Thursday were part of a pre-planned review of data from two pivotal clinical trials testing the drug, umibecestat. Based on that review, Amgen (NASDAQ: AMGN ) and Novartis (NYSE: NVS ) said that they are discontinuing further development of the drug because its potential benefit does not outweigh the r
Los Angeles- and New York-based 3L Capital , a new venture capital investment fund co-founded by former Demand Media CEO Shawn Colo, has raised $217M in a new investment round, the firm said today. The startup investor has already been busy making investments in Los Angeles area startups, and already has investments ChowNow , TYT , SnackNation , along with TheRealReal, 101 Commerce, Wheels, and others.
Most people agree that entrepreneurs have to think differently and take risks to have much chance of building a successful business. Yet I have found that serious entrepreneurs usually go way beyond these platitudes in their actions and thinking, and often won’t volunteer their real views, for fear of alienating “regular” people, and being branded a fanatic.
[ Editor’s note: This is part of a series examining the internet’s first 50 years and predicting the next half century. Join Xconomy and World Frontiers Forum on July 16 for Net@50 , an event exploring the internet’s past and future. ] Right alongside Moore’s Law, which describes the exponential growth in computing power since the 1960s, there’s Metcalfe’s Law, which describes what we’ve done with all that power: namely, use it to connect the world.
The CEO of Santa Monica-based Bird has gone on the offensive, following a report that said the company was seeking $300M and making only around $15M in yearly revenues. In a series of tweets , VanderZanden called the report from The Information "(fake) news" and referred to the site as "DisInformation" and claimed Bird is making $1.75 on every ride on the new Bird Zero scooters, which it says are now 75 percent of its fleet.
Whether you are trying to motivate your team, close a deal with a customer, or get funding from an investor, a casual conversation is usually a waste of your valuable time. These result is a founder who is always “too busy,” but never seems to get the business done and the team moving. All real business is conversations focused on creating results. Shawn Kent Hayashi, in her classic book “ Conversations That Get Results and Inspire Collaboration ” makes my point very well as she outlines the top
Headlines will have you believe the Silicon Valley of tomorrow is blossoming in the Midwest , Los Angeles or even Medellin , Colombia. It is exciting to speculate where the next tech center of the world could be, however, as companies rely more on distributed teams, the next Silicon Valley might be less tangible than we think. According to a Twitter conversation between Andreas Klinger , Head of Remote at Angle List and a recent speaker at Running Remote , and Angle List co-founder Naval Ravikan
Santa Monica-based MomentFeed , which develops software that helps national brands manage their location-based information, such as information about their network of retail stores, has named Jim D'Arcangelo as its new Chief Marketing Officer (CMO) and Head of Business Development. D'Arcangelo was already serving on MomentFeed's board of directors. MomentFeed said that D'Arcangelo has been working in local marketing for more than 25 years.
[ Editor’s note: This is part of a series examining the internet’s first 50 years and predicting the next half century. Join Xconomy and World Frontiers Forum on July 16 for Net@50 , an event exploring the internet’s past and future. ] For my feature article “ Special Report 2069: Predicting the Internet’s Next 50 Years ,” I asked my Twitter followers to share their own predictions.
Two, Los Angeles area companies-- Atom Tickets and Goldstar , say they have teamed up to help Atom Tickets expand its local event coverage. According to Atom tickets, it is expanding its Atom Events' list of local activities across multiple cities, including Atlanta, Boston, and Los Angeles, through the link with Goldstar. Goldstar is best known for offering up discounted, last-minute tickets to local events and venues, both helping consumers find events to attend, as well as helping venues fill
Los Angeles-based ZestFinance , a startup which develops artificial intelligence (AI) software for credit underwriting, has scored a win in Brazil, with Brazilian retailer Via Varejo. According to ZestFinance, it is in a partnership with Via Varejo to power credit underwriting for point-of-sale microfinancing for the retailer. The financial impact of the deal was not announced.
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