Thursday, September 26, 2013

Bay Area Tech Wire -- Sept. 26

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BAY AREA TECH WIRE -- Sept. 26, 2013
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San Jose-Based eBay to Acquire Mobile Payments Company Braintree
o San Francisco-Based Clinkle Lands New Investment from Richard Branson
o Palo Alto-Based Neurotrack Lands $2 Million in First Round
o Report: U.S. IPO Activity Expected to Reach Highest Level Since 2007
o Virginia Regains Top Spot in Forbes "Best States for Business" Rankings
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Briefly Noted: Electronic Arts, Equinix

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o San Jose-Based eBay to Acquire Mobile Payments Company Braintree

San Jose, Calif. -- Looking to give a mobile technology boost to its PayPal arm, San Jose-based eBay said on Thursday it will pay $800 million in cash to acquire Chicago-based Braintree, developer of a popular mobile payments platform. The deal is expected to close by the end of this year. John Donahoe, the president and CEO of eBay CEO, said the acquisition will provide the company with "complementary talent and technology that we believe will help accelerate PayPal's global leadership in mobile payments." Braintree's payment platform is used by clients such as Airbnb, OpenTable, TaskRabbit and Uber, and its Venmo mobile app lets users pay each other using their smart phones. The company will continue to operate as a separate service under the PayPal umbrella, led by current CEO Bill Ready. Its current management team and employees are expected to remain in place. PayPal already has a strong presence in mobile, projecting mobile payment volume of more than $20 billion this year.
http://www.ebayinc.com 
http://www.paypal-media.com 
http://www.braintreepayments.com 
http://www.ebayinc.com/in_the_news/story/paypal-acquires-global-payments-innovator-braintree 
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o San Francisco-Based Clinkle Lands New Investment from Richard Branson

San Francisco -- Clinkle, a stealthy San Francisco-based startup set to introduce its new payments platform next year, said on Thursday it has landed a new investment from Virgin founder Richard Branson. Financial terms of the deal were not disclosed. The news comes as the company, which previously raised $25 million, announced that more than 100,000 people have signed up to use its service in less than two months. Though the company has revealed little about its product, its focus so far has been on college campuses. "We're really excited by this momentum and look forward to expanding the testing of our platform in the coming months," said CEO Lucas Duplan.
https://www.clinkle.com/ 
http://www.businesswire.com/news/home/20130926005375/en/Clinkle-Announces-100K-Wait-List-Investor-Sir 
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o Palo Alto-Based Neurotrack Lands $2 Million in First Round

Palo Alto, Calif. -- Neurotrack, a Palo Alto-based developer of behavioral biomarkers that help with the diagnosis of Alzheimer's disease, said on Thursday it has raised $2 million in its first round of funding. Founders Fund led the round, with The Social+Capital Partnership and several angel investors also participating. The company will use the proceeds to further develop and commercialize its technology, a visual cognitive test sensitive to damage in brain regions first impacted by Alzheimer's disease. "Until now, trials for Alzheimer's drugs have failed in the absence of a diagnostic test that is able to accurately identify pre-symptomatic Alzheimer's patients," said CEO Elli Kaplan. "We believe Neurotrack's technology has the potential to jumpstart the race for the first effective medications for Alzheimer's by dramatically reducing the risks and costs involved with clinical trials."
http://neurotrack.com 
http://neurotrack.com/press/neurotrack-raises-2-million-series-a-led-by-founders-fund/
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o Report: U.S. IPO Activity Expected to Reach Highest Level Since 2007

New York -- 2013 likely will be the strongest year for U.S. initial public offerings (IPOs) since 2007, with volumes reaching pre-crisis levels, according to a new report by accounting and advisory firm Ernst & Young. The firm said the numbers have gotten a boost by strong activity in the third quarter, which traditionally has been weak for IPOs. "Data shows that during the IPO `boom years' of 2004-2007, the third quarter performed better than average, which means healthier IPO years have typically been determined by a robust Q3," said Jackie Kelley, Ernst & Young's Americas IPO leader. "We are projecting Q3 2013 IPO activity to be up 140% from Q3 2012, and I am encouraged by that." The number of effective IPOs in the U.S. so far this year already has surpassed last year's total of 137. The complete report is available at the link below.
http://www.ey.com/GL/en/Newsroom/News-releases/News_Global-IPO-activity-slows-in-Q3-but-set-for-uplift-in-coming-months (World summary)
http://www.ey.com/Publication/vwLUAssets/US_IPO_pipeline_remains_robust_in_Q3/$FILE/EY-IPO-Insights-2013-09.pdf (U.S. report)
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o Virginia Regains Top Spot in Forbes "Best States for Business" Rankings

New York -- Virginia once again finds itself atop Forbes' newly released list of the "Best States for Business." After ranking second each of the past three years, the state returned to the top spot for the first time since 2009. California did not finish among the top 25 states ranked. The annual study examines six important factors for businesses, including costs, labor supply, regulatory environment, current economic climate, growth prospects and quality of life. Virginia was the only state to rank in the top five in four areas of the categories. North Dakota ranked second, while Utah, last year's No. 1 state, dropped to No. 3.
http://www.forbes.com/sites/kurtbadenhausen/2013/09/25/virginia-tops-2013-list-of-the-best-states-for-business/ (article)
http://www.forbes.com/pictures/mli45efejk/1-virginia/ (rankings)
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o Briefly Noted:


(Redwood City, Calif.) Redwood City-based Electronic Arts (EA), the large developer and publisher of video games, said the St. Louis Blues will win their first-ever Stanley Cup title, according to a simulation run by the company's EA Sports NHL 14 game. The company said the Blues will finish second in the Central Division and third overall in the Western Conference with 99 points. Alex Pietrangelo will be awarded the Conn Smythe Trophy as the Blues upset Sidney Crosby and the Pittsburgh Penguins to take the series 4-2 in the finals.
http://news.ea.com/press-release/ea-sports/ea-sports-nhl-14-simulation-predicts-st-louis-blues-will-become-stanley-cup- 

(Redwood City, Calif.) Redwood City-based Equinix, an owner and operator of data centers, said on Thursday it has opened its second data center in Rio de Janeiro. The facility, known as RJ2, currently has capacity for 320 cabinets. Following two more phases of construction, that will grow to 1,170 cabinets.
http://www.equinix.com 
http://www.businesswire.com/news/home/20130926005388/en/Equinix-Opens-Rio-de-Janeiro-Data-Center

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> Chief Information Officer/IT Director - City of Mountain View

The newly created CIO position will join a leadership team committed to innovation, creativity, and transforming local government through leading ideas and practices. As the Department Director, the CIO will oversee a staff of 14 employees in planning, maintaining, and managing the City's information systems and communications networks. Bachelor’s degree is required; MBA or MCS is highly desired. This position requires five years responsible experience in information technology, three years of which must have been at a supervisory or management level. Salary range is $132,816 to $193,834 DOQ. Brochure available at www.ralphandersen.com Inquiries encouraged to (916) 630-4900. Email resume and cover letter to apply@ralphandersen.com prior September 27, 2013.
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