Friday, July 20, 2012

Bay Area Tech Wire - July 20

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BAY AREA TECH WIRE -- July 20, 2012
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Palo Alto Networks Jumps 26% Following IPO
o New Yahoo CEO's Salary Package Could Top $60 Million
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Google Acquires Email App Company Sparrow
o Obama: U.S. Needs to Take Cyberattack Threat Seriously
o Larren Nashelsky Named New Chair of Morrison & Foerster
o Bain Capital Ventures Launches StartUp Academy Program

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Briefly Noted: eBay, Integrated Device Technology, Joingo

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> Job/Event/Marketplace Classified Listings (Full Listings Below Stories)


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--Marketing Events Coordinator
--Senior Manager, eCommerce – Redwood City, CA
--Account Manager
--Sr. Financial Analyst
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o Palo Alto Networks Jumps 26% Following IPO

Santa Clara, Calif. -- Palo Alto Networks, the Santa Clara-based network security firm, saw its share price jump 26% on Friday during its first day of trading following an initial public offering (IPO). The company raised over $260 million. The company trades on the New York Stock Exchange under the ticker symbol PAWN. Palo Alto Networks provides various network security offerings to the enterprise market. The company is increasingly focused on new areas for its security products, including mobile and cloud-based services. The company sold 6,200,000 shares at $42 per share.
http://www.prnewswire.com/news-releases/palo-alto-networks-announces-pricing-of-initial-public-offering-163096446.html
http://www.paloaltonetworks.com/
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o New Yahoo CEO's Salary Package Could Top $60 Million

Sunnyvale, Calif. -- According to filings with the SEC, Marissa Mayer, Yahoo's new CEO, will receive a one-time award of $30 million in addition to other major financial inducements for taking the new position at the struggling company. AllThingsD reported that the total package for Mayer could top $60 million. "The mega-sum includes salary, equity grants, stock options, a make-whole payment for the Google shares she left behind and, perhaps most remarkably, a $30 million one-time retention award," reported AllThingsD's Kara Swisher. "One Yahoo board member had characterized the pay package to me as 'big, big bucks.'"
http://www.sec.gov/Archives/edgar/data/1011006/000119312512307595/d384719dex101.htm
http://allthingsd.com/20120719/mayer-to-get-40-million-in-overall-compensation-for-yahoos-top-job/
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o Google Acquires Email App Company Sparrow

Mountain View -- Sparrow, an email app company founded in France, announced on Friday that it has been acquired by Mountain View-based Google. The company built a popular email client under the Sparrow name. Financial terms of the deal were not disclosed. "We care a lot about how people communicate, and we did our best to provide you with the most intuitive and pleasurable mailing experience," wrote Dom Leca, CEO of Sparrow, in a blog posting announcing the acquisition. "Now we're joining the Gmail team to accomplish a bigger vision -- one that we think we can better achieve with Google."
http://sprw.me/
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o Obama: U.S. Needs to Take Cyberattack Threat Seriously

Washington, DC -- In a rare column on the editorial page of the Wall Street Journal, President Obama on Friday called for the United State to take the threat of cyberattacks more seriously. He also called on the U.S. Senate to pass the Cybersecurity Act of 2012. "The American people deserve to know that companies running our critical infrastructure meet basic, commonsense cybersecurity standards, just as they already meet other security requirements," he wrote. "It would be the height of irresponsibility to leave a digital backdoor wide open to our cyber adversaries."
http://online.wsj.com/article/SB10000872396390444330904577535492693044650.html
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o Larren Nashelsky Named New Chair of Morrison & Foerster

New York -- Morrison & Foerster, the law firm with a large technology practice, announced on Friday that Larren Nashelsky has been elected as the new chair of the firm. Morrison & Foerster has offices both in San Francisco and Palo Alto. As the current co-chair of the firm's bankruptcy and restructuring practice, Nashelsky previously served as the firm's managing partner. He is expected to play a leading role in providing strategic direction and setting policy for the firm. He succeeds Keith Wetmore, whose fourth three-year term as chair ends in October. Wetmore will continue with the firm as chair emeritus.
http://www.mofo.com/MoFo-Announces-Leadership-Change-07-19-2012/
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o Bain Capital Ventures Launches StartUp Academy Program

Palo Atlo, Calif. -- Bain Capital Ventures, a venture capital and growth equity firm with over $2 billion in capital, announced on Friday the launch of its StartUp Academy, an initiative to provide students with exposure to entrepreneurship and mentoring. Bain Capital Ventures said the program seeks technical talent from undergraduate, masters and PhD programs throughout the country, including Duke, Harvard, MIT, University of Michigan, Princeton, University of Pennsylvania, Stanford, USC and University of Waterloo. An inaugural 2012 StartUp Academy class was selected during a nine-month pilot of the program. This year, Bain Capital, which was founded by GOP presidential candidate Mitt Romney, has become a major point of discussion in the presidential race.
http://www.baincapitalventures.com/startupacademy/
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According to a recently released study by eMarketer, online advertising is expected to generate $39.5 billion in sales this year…Increase your sales revenue. Advertise with the Tech Wire and enjoy special summer rates.
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o Briefly Noted:


(San Jose) eBay announced that it is raising $3 billion through a debt offering that is expected to close on July 24. The company said it will use the proceeds for general corporate purposes.
http://investor.ebayinc.com/releasedetail.cfm?ReleaseID=693568

(San Jose, Calif.) Integrated Device Technology, a semiconductor technology company, announced on Friday that it has acquired NXP's high-speed data converter assets and Alvand Technologies, a leading analog IP company specializing in data converters. Terms of the deals were not disclosed.
http://www.idt.com/about/press-room/idt-acquires-nxp%E2%80%99s-data-converter-assets-and-alvand-technologies

(San Jose, Calif.) Joingo, a mobile and social technology company, announced that Jonathan Lowenhar has joined the company as advisor. Most recently, Lowenhar was co-founder and CEO of Trooval, a predictive analytics company.
http://www.joingo.com/

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Job/Event/Marketplace Listings:
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>
Drive Sales - Advertise with Tech Wire - Special Summer Rates

According to a recently released study by eMarketer, online advertising is expected to generate $39.5 billion in sales this year…Increase your sales revenue. Advertise with the Tech Wire and enjoy special summer rates.
 http://www.bayareatechwire.com/Advertising_Info.html
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> Marketing Events Coordinator

Coblentz, Patch, Duffy & Bass LLP, a mid-size law firm is currently seeking a Marketing Events Coordinator with 3+ years of marketing events experience in a corporate environment to provide administrative support to the Marketing Department. This position reports directly to the Marketing Manager to plan, coordinate and manage all aspects of client seminars and receptions, sponsorship events, Firm events and retreats, and other special events. Candidate must have a Bachelor's degree and the ability to communicate clearly and effectively in one-on-one and small group settings with business partners and outside vendors. Additionally, candidate must be a self-starter, detail oriented, have the ability to organize and prioritize a number of tasks and complete them under time constraints. Strong computer, backend web development, HTML and graphics skills are required. Experience with Adobe Photoshop, Illustrator, and InDesign is preferred. Salary: DOE. Please include your salary requirement. Submit your resume and cover letter to the following link (or copy and paste the link to your web browser) https://home.eease.com/recruit/?id=1185751 
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> Senior Manager, eCommerce -- Redwood City, CA

The Sr. Manager of eCommerce will provide leadership on key eCommerce initiatives within Shutterfly.com to continuously improve our customer shopping experience. Reporting to the Sr Director of eCommerce, this seasoned eCommerce professional will use site analytics to drive informed business recommendations, develop site tests aimed at optimizing business goals and serve as the business lead for selected eCommerce projects. This role is focused on driving a compelling and frictionless eCommerce experience for our customers. It is perfect for someone who is interested in using his/her business acumen, eCommerce expertise, and analytic skills to drive exceptional short- and long-term business results. Apply online at: http://www.shutterfly.com/about/positions.jsp?jvi=oW3aWfwP
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> Account Manager

Come join PaperG, just named one of the Forbes' 100 Most Promising Companies in America, as we reinvent modern advertising. A PaperG Account Manager works as a key member of the Accounts team, where they will support PaperG's media company partners and help them thrive using PaperG's technology. Qualifications: College degree. A friendly and engaging personality - a must!. Excellent computer and Internet knowledge. High energy level. Resourceful, well organized, highly dependable, efficient and detail oriented. Knowledge of online advertising industry a strong plus. Send your resume to careers@paperg.com In your email or cover letter, let us know why PaperG interests you.
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> Sr. Financial Analyst

Veracyte is a molecular diagnostics company that is pioneering the emerging field of molecular cytology. Our Finance team seeks an individual who will report to the CFO, with the ability to develop and maintain long-range financial models for the company's strategic plan, produce product revenue projections and forecasts and prepare financial analyses. They will also be able to analyze trends, manage components of the operating plan process, participate in the valuation of potential business development opportunities, and collaborate with R&D, Commercial and Operations functions. The ability to thrive in a fast-paced, challenging and highly diverse team environment is critical. To be a successful candidate you will have at least 4 years of finance/accounting experience, with a proven track record of incorporating applications of accounting principles, financial reporting, and cash management, and be an expert in Excel. It's important that you have experience in life sciences and knowledge/experience with Microsoft GP is a plus, as is an MBA. We would like you to share our commitment to teamwork and collaboration and be excited by the challenges of applying your expertise to an important, emerging area in diagnostics. To apply, please send your resume to jobs@veracyte.com For additional information, see our website www.veracyte.com
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