Friday, May 15, 2015

Bay Area Tech Wire -- May 15

BAY AREA TECH WIRE -- May 15, 2015
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San Francisco-Based Lyft Raises $150 Million, Led by Carl Icahn
o San Francisco-Based Globant Acquires Clarice Technologies
S.F.-Based Aspect Ventures Raises $150 Million for First Fund
San Jose-Based Echelon Terminates Lease, Takes Smaller Space
Preparing for Split, eBay and PayPal Name New Boards
Briefly Noted: Maxwell Technologies


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

--Senior Director, Business Development - Optoro - DC
--The MIT Sloan CIO Symposium - May 20 - Cambridge, Mass.

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o San Francisco-Based Lyft Raises $150 Million, Led by Carl Icahn

San Francisco -- Lyft, the San Francisco-based developer of a mobile peer-to-peer ridesharing service, said on Friday it has raised an additional $150 million in funding, including a $100 million investment from billionaire financier Carl Icahn. "With this additional investment, we remain focused on deepening our U.S. footprint, continuing to lead with product innovation and providing the best possible experience for drivers and passengers," said John Zimmer, the president of Lyft. Jonathan Christodoro, a managing director of Icahn Enterprises, will join the company's board of directors. "I believe that ridesharing is poised to become a fundamental component of our transportation infrastructure," said Icahn. "The company's revenue growth to date has been extremely compelling, and increasing urbanization over the next five to 10 years should enable the company to maintain that trajectory." 

o San Francisco-Based Globant Acquires Clarice Technologies

San Francisco -- Globant, a San Francisco-based provider of technology services focused on software, said it will acquire Clarice Technologies, an India-based software product development company with U.S. offices in Pleasanton. Financial terms of the deal were not disclosed. "Their focus will help us increase the depth of our capabilities in mobile, IoT and UX, in addition to providing strong delivery capabilities in India, which we believe will result in better and expanded services to our U.S. and global customers," said Martin Umaran, Globant's co-founder and chief of staff. 

o S.F.-Based Aspect Ventures Raises $150 Million for First Fund

San Francisco -- Aspect Ventures, a San Francisco-based venture capital firm formed by former DFJ partner Jennifer Fonstad and Accel partner Theresia Gouw, said it has raised $150 million for its inaugural fund. The firm plans to invest between $2-5 million per deal, while also devoting around 20% of the fund to seed deals, focusing on mobility startups. The firm already has backed more than a dozen companies, including AthenaHealth, BaubleBar, ForeScout, The Muse, Trulia, Birchbox and UrbanSitter

o San Jose-Based Echelon Terminates Lease, Takes Smaller Space

San Jose, Calif. -- Echelon, a San Jose-based developer of control networking technology for the industrial Internet of Things, said on Friday it has paid $10 million to terminate the long-term lease of its headquarters, and has signed a short-term lease for a smaller amount of space in the same facility. The move eliminates the company's remaining lease obligation payments of $21.4 million for the 150,000-square-foot facility. "This is an important example of our commitment to reducing our operating expenses in alignment with one of our three strategic initiatives," said Ron Sege, Echelon's chairman and CEO. "While the accounting rules are complex, we expect this transaction to significantly lower the company's breakeven." 

o Preparing for Split, eBay and PayPal Name New Boards

San Jose, Calif. -- Preparing to separate into two publically traded companies, San Jose-based eBay late Thursday announced the new boards for both eBay and PayPal. Chaired by current director Thomas Tierney, eBay's board will include Fred Anderson, Edward Barnholt, Anthony Bates, Bonnie Hammer, Kathleen Mitic, Pierre Omidyar, Bob Swan, Perry Traquina and Devin Wenig. Current eBay President and CEO John Donahoe will serve as the chairman of PayPal, whose board also will include Jonathan Christodoro, Scott Cook, David Dorman, Gail McGovern, David Moffett, Omidyar, Dan Schulman and Frank Yeary. Complete bios on each are available at the link below. The separation is expected to be completed after midyear. 

o Briefly Noted:

(Santa Clara, Calif.) Rick Bergman, the president and CEO of Santa Clara-based Synaptics, has joined the board of directors of San Diego-based Maxwell Technologies, the company announced. Bergman joined Synaptics in 2011 after serving in a series of senior executive positions with AMD. Maxwell develops energy storage and power delivery products. 

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> Senior Director, Business Development - Optoro - DC

We are looking to add a Senior Director of Business Development to our growing team to help capitalize on the rapidly rising demand of our enterprise software solution. The Senior Director will be responsible for prospect evaluation, coverage and development across a portfolio of enterprise accounts. We are looking for someone with a forward-thinking and strategic approach to solving business issues and a strong background in selling solution based software in retail, ecommerce or supply chain industries. For more information or to apply, go to:

> The MIT Sloan CIO Symposium - May 20 - Cambridge, Mass.

The MIT Sloan CIO Symposium will help CIOs to invent their future and accelerate success through technology. CIOs will engage with business leaders, technology trendsetters, and academic thought leaders in panel discussions and explore new thinking and practices. Panel discussions include: Academic Keynote Panel -- The Impact of Automation; Platform Shift -- How New Business Models are Changing the Shape of Industry, and the Role of CIOs; Leading Digital: A Manifesto for IT and Business Executives; The Board, CEO and CIO Roles in Dealing with Digital Disruption; Cybersecurity - New Approaches to Assessing and Maximizing Your Protection; Demand Shaping: How IT Becomes a Distinctive Advantage; and Cashing in on Your Data. Use code 15NETECHWIRE when registering for a $200 discount. Register at


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