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Verity Health , the California hospital chain which had been acquired by LA biotech billionare Dr. Patrick Soon-Shiong , has filed for Chapter 11 bankruptcy, the company said on Friday. In a release, Verity said that it intends to all or some of its assets in Chapter 11 and is actively seeking potential buyers. The bankruptcy filing was filed in the United States Bankruptcy Court for the Central District of California Los Angeles Division.
Grindr considers China IPO; Santa Monica picks four scooter companies for pilot program; California carbon-free utility measure heads to Governor Brown
Electric scooter manufacturer Bird Rides Inc. announced Aug. 30 it is one of the official participants in Santa Monica’s shared mobility pilot program. The program will begin Sept. 17 and includes not only Bird, but scooter manufacturer Neutron Holdings Inc., which manufacturers and operates Lime Scooters, as well as e-scooters and e-bikes operated by Uber Technologies Inc. and Lyft Inc.
The online gaming community is responding to the mass-shooting that occurred at a Madden 19 competition in Jacksonville, Florida , as reports identify the shooter involved in the attack and his victims. Mass shooting at Madden Championship Series event in Florida leaves several dead. The shooter was identified by police as a 24-year-old white male, believed to be from Baltimore.
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.
Simi Valley-based unmanned aerial vehicle maker Aerovironment says it has donated one of its drone systems--its Quantix robotic drone--to the West Point Military Academy. According to AeroVironment its MacReady Works unit donated the system to support West Point's robotics research center. AeroVironment said that the drone will be used by West Point's Center for Innovation and Engineering and Geography and Environmental Engineering Department.
Wednesday, September 5, 2018 -- Thinking Like a VC. Cal Lutheran Center for Entrepreneurship. Featuring: Rob Vickery, Partner and Co-Founder: Stage Venture Partners. Rob Vickery, Co-Founder of Stage Venture Partners, which is one of LA's leading enterprise software venture capital fund, will be exploring the core principles of venture capital and core due-diligence techniques that are adopted in this area of finance.
Santa Monica-headquartered startup incubator Science Inc. disclosed Aug. 30 it added Cincinnati, Ohio-based personalized closet management app Cladwell to its growing portfolio of startups.
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Santa Monica-headquartered startup incubator Science Inc. disclosed Aug. 30 it added Cincinnati, Ohio-based personalized closet management app Cladwell to its growing portfolio of startups.
If you’re a city dweller, and unhappy with the big company that provides your Internet connection, chances are good there’s a scrappy little outfit that thinks it can do better for you. Metropolitan areas have become target territories for the wireless Internet service providers, or WISPs, that for a long time have been the only options for rural residents whose neighborhoods aren’t reached by giant telecom companies such as Comcast and AT&T.
Brea-based networking hardware maker TP-Link has rolled out a new wireless router, which provides up to 1733Mbps speeds on the 5Ghz band and 800Mbps on 2.4Ghz. According to TP-Link its Archter C2700 router operates on the AC2600 dual band Wi-Fi standard, and uses Intel processors. TP-Link says the router is the first in a line of routers that it will use intel's technology.
Now is the time to be an entrepreneur and create a business from your passion. The cost of rolling out a business has never been lower – it only takes a few hundred dollars to incorporate a Limited Liability Corp (LLC) online, create your own website, use social media to get attention, and you are in business. In the early Internet days, it would cost a million dollars to get this far.
Diffbot , a tech startup that continuously scours the Web to assemble a “knowledge graph” of billions of facts in context, announced today that it’s opening up the searchable resource to the public—with starter rates as low as a cable TV bill. Mountain View, CA-based Diffbot gleans unstructured data scattered across websites, ads, blog posts, videos, and other public online assets to create a knowledge repository that can be mined by companies for their specific purposes.
Culver City-based Signal Sciences , which develops web security tools for DevOps and web applications, has signed up healthcare platform developer Castlight Health , the two said this week. According to the companies, Castlight Health is using Signal Sciences for its digital health platform, for tighter control of its web security. Financial details of the win were not announced.
Although professional investors may discount the impact of crowdfunding, they can’t argue with the growth of this new industry in the last few years. According to statistics by Fundly , crowdfunding contributed $34 billion in funding last year around the world, including peer-to-peer lending. That exceeds the amounts contributed in the U.S. by either angel groups or VCs alone.
Santa Monica e-scooter operator Bird Rides Inc. announced its new platform to help cities manage the influx of their scooters. Called GovTech, the platform was announced Aug. 29, the day before Santa Monica announce the companies chosen to participate in its city-wide shared mobility pilot program. Bird was among the four companies chosen for the program.
The first medicine that uses RNA interference, a method cells employ to mute a gene before it can make a harmful protein, has made its way to Europe. Three weeks after the FDA approved patisiran (Onpattro) , from Alnylam Pharmaceuticeuticals (NASDAQ: ALNY ), for a rare and deadly disease called hereditary transthyretin amyloidosis (hATTR), the European Medicines Agency has followed suit.
Los Angeles-based mobile app demo technology developer AppOnboard , which is led by serial entrepreneur Jonathan Zweig, said this week that it has launched the ability to demo apps and games directly within Google Play. According to AppOnboard, it worked with Google to launch App Store Demos, which allows users to preview games and apps directly from within Google's app store.
Most of you new venture founders I meet as an angel investor seem convinced that starting the business is the hardest part. You look forward to the day when your business becomes self-sustaining, and settles into a long-term growth curve, ensuring financial success. Unfortunately, sustainability is proving to be a more and more complex challenge in this era of rapid change.
Sixteen-year Warner Media veteran Kristen O’Hara joining Snap Inc.; Electric scooter company Bird launches new tools for cities to manage e-scooter fleets; web security firm Signal Sciences Corp. inks deal with health care platform Castlight Health Inc.
Before you head out for the final summer getaway, catch up on the week’s headlines. Pfizer upped the ante in the field of transthyretin amyloidosis (ATTR) treatment, where competition to treat the rare disease has grown increasingly complex. We’ll start with what was—and wasn’t—in Pfizer’s data release Monday, top up with more ATTR news, then round up a slew of drug approvals, a slug of policy news, and a welter of financings and deals.
Redondo Beach-based MyCrypto , a developer of open source tools for interacting with the blockchain, said today that it has raised $4M in a funding round. The funding came from Polychain Capital and crypto-exchange operator ShapeShift, along with Ausum Blockchain Fund LP and Boost VC Fund LP, plus others. MyCrypto's CEO is Taylor Monahan. READ MORE>>.
In this era of rapid market and technological change, I know I have to challenge my small business advisory clients to keep innovating and stay ahead of the game. As you can imagine, it is human nature to look for a stable and unchanging business process, after all the pivots and chaos of starting your business. Innovation driven only by crises is not leadership and growth.
More VR training for med students at CHLA; MoviePass rival Sinemia announced new subscription service; lineup announced for new advertiser pitchfest NewFronts West conference.
The FDA has rejected the rare-disease drug volanesorsen (Waylivra), which is being developed by Ionis Pharmaceuticals (NASDAQ: IONS ) and its subsidiary Akcea Therapeutics (NASDAQ: AKCA ). Ionis, based in San Diego, and Akcea, in Cambridge, MA, had high hopes for approval after a committee of outside experts in May recommended the drug by a 12-8 vote.
Los Angeles-based gay and bisexual dating app developer Grindr is planning an IPO in China , according to regulatory filing. The filing came from Kunlun Group, a Chinese company which has majority control of Grindr. It's unclear which exchange Grindr's parent company is intending to list the company. READ MORE>>.
Despite the fact that the number of IPOs (Initial Public Offerings) for startups have continued to stay low, I still hear it touted often as the preferred exit strategy. I suspect the exuberance for an IPO is still being driven by the highly visible successes of a few companies several years ago, including Facebook, Yelp, and Twitter. Everyone dreams of becoming a billionaire overnight.
Puls Technologies , whose on-demand technicians repair broken smartphones and install connected home devices, announced today it has raised $50 million to expand its reach as a unified source of device maintenance and consumer support. San Francisco-based Puls, founded in 2015, offers to dispatch technicians quickly to a customer’s home or office to replace malfunctioning parts, mount a widescreen TV on the wall, or install smart home devices such as security systems, voice-activated assistants,
Los Angeles-based EPARTRADE , which operates an online marketplace for performance racing parts, said this week that it has named John Kilroy as its Chief of Content and Audience Development. According to EPARTRADE, Kilroy will be Development, responsible for developing and implementing the overall content strategy for the company. The company said Kilroy was most recently Editor, Vice President, and General Manager at Performance Racing Industry, Inc. including overseeing the annual Performance
I am a gadget freak, often purchasing new technologies in their first release. And my closet is full of such gadgets, from early pen-based computers to early brick-sized cell phones to an electronic handwriting recognition pad received as a gift to test. These early dives into new technologies serve a purpose for me. They keep me at the leading edge of new development as it is productized, even before mass production.
RelayCars Inc., located in Rancho Dominguez, announced today its virtual reality automobile viewing app will soon be available on Magic Leap Inc.’s newest VR headset, the Magic Leap One.
Santa Monica cloud computing firm Onica Inc. announced Aug. 27 it acquired cloud consultation and Amazon.com Inc. Web Services provider TriNimbus Technologies Inc.
DataDirect Networks , the developer of high performance computing (HPC) and enterprise storage products, says it expects to finalize its acquisition of data storage array maker Tintri , in what it says is "the next few days". DDN is in the process of buying Tintri out of bankruptcy. DDN says it expects the acquisition to close this month. DDN said the acquisition will significantly bost its product portfolio and addressable market.
Venice-based on-demand, electric scooter rental startup Bird has rolled out a new set of tools aimed at helping cities better manage the hordes of its scooters on its streets, the company said this week. Bird said its new GovTech Platform lets cities track how their citizens are using its scooters, set up "geofences" where those scooters are not allowed to be ridden or parked, and also access data on trips and usage using an API.
San Diego-based Obalon Therapeutics , a publicly held developer of medical devices to treat obesity, has raised $10M in a private placement, the company said this week. The company said the investment came from included certain unaffiliated institutional investors, members of the company's management team and the board of directors and certain of their affiliated funds, including Domain Associates and InterWest Partners.
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