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When former Bill Clinton speechwriter and political wunderkind Andrei Cherny launched Aspiration four years ago , the upstart fintech startup was one of Los Angeles’ early entrants into a financial services market dominated by players from Europe and the financial capital of the U.S. in New York City. Fast forward four years and the big New York fintechs are still around, but Cherny’s Aspiration remains undimmed and has today disclosed a $153 million funding round to get even bigger
Photo by Viktor Forgacs on Unsplash I was listening to Dan Primack’s podcast on Pro Rata and he was interviewing Senator Klobucher who is now publicly and vocally speaking out against Uber purchasing Grubhub and has tried to mobilize against this. Her argument is that if Uber buys Grubhub (which itself once merged with Seamless) it would mean that Uber Eats / Grubhub would control half the market and that with DoorDash the two together would control 90% of the market.
Every startup founder loves to prompt for questions from investors and potential key team members about their vision, and the huge opportunity that can be had with their disruptive technology. Yet if you are on the other side of the table, there are some other key questions that you need to ask, which will tell you more about the real success prospects for this business.
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.
The acute pain of California’s housing crisis can be measured in the human toll it takes on the increasing numbers of families made homeless by rising rents and the billions of dollars the state loses to the high cost of living. After wrestling with recalcitrant homeowners, husbanding their parcels of land to keep their property values high, the state’s leadership passed a law that increased the availability of new rental units and put more money into homeowners’ pockets in 201
Bevy is Emerging as a Leader in Software for Building Virtual Communities?—?with $15 million to Prove It The venture capital world has started firing up a few cylinders again and looking for businesses that it believes will help us all succeed in ways that resonate with new ways of working as we begin to return to work. It’s clear things have changed for good and the need for managing remote communities of employees, customers and partners has become ever more important.
Assuming that a corporate whistle-blower is not tooting about you individually, such a class of people have been granted protections under the law and serve a function that needs to be acknowledged. Motive of the whistle-blower. First, the assumption is that such a person is not making his or her gesture for personal profit, but to give proper notice that there is something illegal going on within the company that the person cannot accept and must tell someone about.
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Assuming that a corporate whistle-blower is not tooting about you individually, such a class of people have been granted protections under the law and serve a function that needs to be acknowledged. Motive of the whistle-blower. First, the assumption is that such a person is not making his or her gesture for personal profit, but to give proper notice that there is something illegal going on within the company that the person cannot accept and must tell someone about.
Every entrepreneur I know has their favorite excuse for a previous failure – an investor backed out, the economy took a downturn, or a supplier delivered bad quality. These things outside your control do happen, but based on my years of experience as a startup advisor and angel investor, I still see too many strategies leading to failure that are inside the entrepreneur decision realm.
Polestar’s first U.S. retail stores will open in Los Angeles, New York City and two locations in San Francisco later this year — the latest milestone for the automaker as it gets closer to bringing its all-electric vehicle to market. Polestar, which is jointly owned by Volvo Car Group and Zhejiang Geely Holding of China, was once a high-performance brand under Volvo Cars.
Los Angeles-based Shayre , a new startup developing data sharing software, says it has launched a new, "cloud-free" file sharing solution, aimed at enterprise businesses. According to Shayre, it has developed a point-to-point and point-to-multi-point software for file transferring and synchronization suited for enterprise businesses, which allows for unlimited files and file sizes to be transferred between devices.
COVID-19 has ravaged the economy, and it was expected to quash the IPO market, too. But the biotech sector is defying the pandemic with crossover financings and freshly minted public companies. On Friday, three firms added their names to the list of life science companies preparing to join the public markets. Gene therapy company Generation Bio, vaccines developer Vaxcyte, and cancer diagnostics maker Burning Rock Biotech each filed IPO paperwork just ahead of the Memorial Day weekend.
Many experts are certain that successful entrepreneurs are the ones with the most inspiration (passion and dream), while others will assert that it’s about more perspiration (working harder). In my experience, both are always required in heavy doses. There are no “can’t fail” shortcuts or “get rich quick” scenarios. That’s why all those so-called million dollar ideas I hear about as an investor don’t get me excited, and entrepreneurs find that working twenty hours a day often generates nothing m
Wednesday, May 27, 2020 -- CARES Act w/Moss Adams. CONNECT. Get key information regarding the Coronavirus Aid, Relief, and Economic Security (CARES) Act in this Webinar presented by Moss Adams Partner in Charge, Gerardo Godinez and Tax Senior Manager, Desiree Klassen. See [link].
Camarillo-based Saalex Information Technology (SaalexIT), a provider of managed services, says it has acquired Eugene, Oregon-based Arctic MSP. Financial terms of the acquisition were not announced. Saalex said the deal will expand its footprint in its western region. SaalexIT said it also recently acquired Scottsdale, Arizona-based Valeo Networks. Arctic MSP offers up cybersecurity, cloud, and compliance services; SaaletIT said that it will continue to run Arctic MSP as its own brand, based out
Biotechs are increasingly looking to leverage a mechanism cells use to get rid of unwanted proteins to drug targets previously considered out of reach. Roche ponied up $135 million upfront this week to work with Vividion Therapeutics in search of small molecules that use that “protein degradation” process to do just that. The drug discovery agreement is seeking small molecule drugs that can hit proteins considered “undruggable” by designing therapies that prompt the proteasome—
If you really want to start a business your way without a boss or professional investor hovering over you, then just fund it yourself or through friends and family, and grow it organically. It’s more possible to bootstrap today than a few years ago, as the cost of entry continues to go down. According to Investopedia , over 90 percent of successful businesses currently start this way.
Wednesday, May 27, 2020 -- The Mindset of an Investor Today: A Webinar Series with Arlan Hamilton, Founder and Managing Partner, Backstage Capital. Join Peter Cowen (Managing Director, Sutton Capital Partners) as we explore what investors are looking for in the current climate. Presented by Sutton Capital Partners and the Recurring Revenue Conference.
San Diego-based venture capital fund Sectoin 32 says it has made a number of key appointments, as it expands its human resources, staffing, and communications efforts. According to Section 32, it has named Sarah Larson as Chief People Officer; Alice Cheung as Head of Talent; Kenzo Fong Hing as Advisor; Claire Stapleton as Writer in Residence; Kimberly Shih as Talent Specialist; and Anna Bullard as Executive Assistant.
Amplyx Pharmaceuticals has completed enrollment in one mid-stage trial of its lead drug candidate, a new kind of antifungal treatment, and has finished treating the first patients in two more such studies. Now the San Diego-based company has added $53 million to a round of funding it first closed in 2017, money that it plans to put toward continued evaluation of the investigational antifungal treatment, fosmanogepix.
As I was watching the investor show, Shark Tank , on TV the other night, I was struck by how quickly and how extensively the sharks focused on the background and character of the entrepreneurs, compared to time spent evaluating their products. I realized it was consistent with my own view as a former angel investor, that investors invest in you, more than your solution.
Fair Financial Corp., a Santa Monica-based car leasing and financing provider backed by SoftBank Vision Fund, has named Bradley Stewart as the company’s new chief executive.
Carlsbad-based ChromaCode , which is developing molecular testing equipment, announced today that it has raised $10M in a Series C extension round. The funding came from Adjuvant Capital. As part of the funding, ChromaCode said that it will add Adjuvant Capital's Managing Partner, Jenny Yip, to its board. The company has now raised $38M in the Series C round.
Learn what’s fueling San Diego’s biotech investment and partnership opportunities by downloading Xconomy’s new special report and podcast that package the highlights from the recent Xcelerating Life Sciences San Diego: Biomedical Breakthroughs in Precision Medicine & Genomics event. The special report includes: San Diego Biotech Entrepreneurs, Innovation Leads to “Maturing” Ecosystem What It Takes for Commercialization: A Fireside Chat with Neurocrine’s Kyle Gano How San Diego Biotech
Redlands-based geographical information system (GIS) software developer Esri says is offering up its technology to help address the COVID-19 pandemic in Latin America and the Caribbean, as part of a partnership with the Inter-American Development Bank (IDB). According to Esri, the effort will allow governments in the region to use a COVID-19 solution to track critical equipment and asset availability, manage supply chains, and maintain business continuity.
Irvine-based technology distributor Ingram Micro is looking to help its technology channel partners in Europe, who have been hit by cash flow challenges due to the COVID-19 pandemic, with a new suite of financing options. According to Ingram Micro, it has rolled out new low interest and long term financing, extended credit terms, deferred payments, as-a-service models, and pay-as-you-go options for its customers.
Irvine-based storage-as-a-service provider Zadara said this week that it has partnered with data center colocation and interconnection provider Cyxtera. According to Zadara, its fully managed storage-as-a-service is now available in 62 of Cyxtera's data centers worldwide. Financial details of the partnership deal were not announced. Zadara offers up its storage to enterprises, helping them avoid the usual capital expenditures associated with enterprise storage array purchases; the company only c
Santa Monica-based healthcare practice management software developer PatientPop is adding a new set of telehealth features to its software suite, saying this week that it has launched a new product called PatientPop Pro. According to PatientPop, the new software offers telehealth, digital communications, and patient intake tools, allowing healthcare practices to deliver virtual care, connect with patients, and streamline office tasks.
Los Angeles-based Aspiration , which offers up financial services, no-fee checking accounts, and a debit card focused on socially conscious spending, has raised $135M in funding, the company said Thursday. The Series C funding came from Alpha Edison led, along with UBS O'Connor Capital Solutions, DNS Capital, Radicle Impact, Sutter Rock, Jeff Skoll, Joseph Sanberg, Social Impact Finance, the Pohlad Companies, and AGO Partners.
Los Angeles-based Modern Trust said this morning that it has launched a new online site to help people create and maintain living trust and estate planning documents. The startup, led by Daniel Hales, said it is tackling the time-consuming, tedious and expensive process of creating a trust and dealing with estate planning, which the company says has traditionally involved numerous in-person meetings with lawyers, advisors and lots of paperwork and paper documents.
Los Angeles-based private equity investor K1 Investment Management said this morning that it has entered into an agreement to sell San Diego-based FMG Suite to another private equity ivnestor, Aurora Capital Partners. Financial terms of the deal were not announced. FMG Suite is a developer of cloud-based marketing automation software specifically for financial services professionals and advisors.
Long Beach-based Virgin Orbit is planning a demonstration launch of its small satellite delivery vehicle this weekend, saying it is hoping to launch a satellite into space on Sunday, May 24th at 10 AM PT. The launch--which will be made from the Mojave Air and Space Port is intended to put the LauncherOne rocket into space, launched from Virgin Orbit's modified 747 launch platform.
San Diego-based Insightful Science has acquired Cytapex , a bioinformatics contract research organization. Financial terms of the acquisition were not announced. According to Insightful Science, Cytapex focuses on helping pharmaceutical, biotechnology, and medical device companies to improve and automate high-throughput and high-dimensional cytometry informatics for basic and clinical research, biomarker discovery, and clinical trials.
Santa Monica-based Happy Returns , which provides return management for e-commerce and other retailers, said today that it has partnered with BigCommerce , a developer of e-commerce software. According to Hppy Returns, it will offer up its full suite of returns software and reverse logistics services to BigCommerce merchants. The company said it has integrated its service with the BigCommerce platform, and also now offers up in-person drop off of returns at its nationwide network of more than 70
Los ANgeles-based Brainbase , a new startup developing software to help manage licensing, partnership and sponsorship agreements, has raised $8M in a Series A funding round, the company said this morning. The funding was led by Bessemer Venture Partners and Nosara Capital, and also included Alpha Edison, Struck Capital, Bonfire Ventures, FJ Labs, Spencer Lazar, Michael Stoppelman, former senior vice president of engineering at Yelp, Jenny Fleiss, co-founder of Rent The Runway, and David Fraga, p
Los Angeles-based RelayCars , which provides a library of immersive and virtual reality content for the automotive industry, says it has launched a "virtual showroom" for individuals looking to shop and research a new car, as a result of more people being stuck at home. According to RelayCars, the website now features high quality, virtual realty (VR) content which lets users take virtual tours of any vehicle category, year, make, and model from its database of content.
Los Angeles-based United Dwelling , a startup that helps homeowners convert garages or unused backyard space into newly allowed "Accessory Dwelling Units" which they can rent out to others, has raised $10M in a Series B funding round, the company said this week. The startup--led by longtime Southern California startup and venture capital veteran Steven Dietz--said the funding was led by Alpha Edison, and also included Lightspeed Venture Partners.
Los Angeles-based Assembly , a developer of e-commerce tools and software, has received what it says is a "significant investment" from private equity investor Providence Strategic Growth. Financial terms of the investment were not announced. According to Assembly, the new funding will go to both build and acquire e-commerce software and services. In conjunction with the funding, Assembly says i thas acquired software developer Helium 10, which develops software for helping Amazon merchants expa
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