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BAY AREA TECH WIRE -- May 8, 2015
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Sponsored By: Fairfax County Economic Development Authority
http://fairfaxcountyeda.org/bay-area-tech-wire
o Rocket Fuel Lands $350 Million Takeover Bid from Gravity4
o Report: San Francisco-Based Yelp Seeking a Buyer
o San Francisco-Based Affirm Raises $275 Million in Debt and Equity
o Menlo Park-Based IVP Tops List of Top 25 Growth Equity Firms
o SBA Launches Major Expansion of Online Loan-Matching Tool
o Calif. Remains No. 50 in "Best States for Business" Rankings
o Briefly Noted: Bridge Bank - Sysorex, Armetheon,
Asterias Biotherapeutics
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> Job/Event/Marketplace Classified Listings (Full Listings Below Stories)
--Senior Director, Business Development - Optoro - DC
--The Delicate Art of Persuading Your Boss
--The MIT Sloan CIO Symposium - May 20 - Cambridge, Mass.
Ad Descriptions Below Briefly Noted Section
Post Job/Event/Marketplace ad: http://www.bayareatechwire.com
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o Rocket Fuel Lands $350 Million Takeover Bid from Gravity4
Redwood City, Calif. -- Rocket Fuel, the Redwood City-based developer of a programmatic marketing platform that uses artificial intelligence, said on Friday it has received an unsolicited $350 million takeover bid from San Francisco-based Gravity4, developer of a high-frequency marketing platform. The company said its board of directors will evaluate the proposal with the assistance of financial and legal advisors, and is advising stockholders to take no action at this time. Gravity4 has been on a buying binge of late, since January acquiring Zurmo, Triggit, Ezlike and adX Search.
http://rocketfuel.com/
http://gravity4.com
http://www.businesswire.com/news/home/20150508005183/en/Rocket-Fuel-Confirms-Receipt-Unsolicited-Conditional-Proposal#.VUy4LI5Viko
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o Report: San Francisco-Based Yelp Seeking a Buyer
San Francisco -- Shares of San Francisco-based Yelp continued to climb on Friday following reports that the local business reviews site is seeking a buyer. Citing people familiar with the matter, The Wall Street Journal reported that Yelp, which five years ago rebuffed an acquisition offer from Google, is now working with investment bankers, though an acquisition is not imminent. The company, which has struggled to turn a profit since its inception by former PayPal executives in 2004, was valued at roughly $3.4 billion after its stock climbed more than 20% on Thursday.
http://www.yelp.com
http://www.wsj.com/articles/yelp-is-exploring-a-sale-1431018383
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o San Francisco-Based Affirm Raises $275 Million in Debt and Equity
San Francisco -- Affirm, a San Francisco-based payment technology company launched by PayPal co-founder Max Levchin, said it raised $275 million in a new round of debt and equity financing, led by Spark Capital Growth. New investors Jefferies and Andreessen Horowitz and previous backers Khosla Ventures and Lightspeed Venture Partners also took part in the round, which the company will use to "significantly" increase its loan distribution capacity, expand its services to merchants and develop new products. Affirm lets shoppers instantly apply for loans to pay for purchases at online stores, allowing them to pay in three-, six- or 12-month increments. Interest rates range from 10%-30%, depending on a customer's credit.
https://www.affirm.com/press/
http://sparkcapital.com/
http://www.businesswire.com/news/home/20150506005212/en/Affirm-Banks-275-Million-Debt-Equity-Financing#.VUyU_Y5Viko
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o Menlo Park-Based IVP Tops List of Top 25 Growth Equity Firms
Menlo Park, Calif. -- Institutional Venture Partners (IVP), the Menlo Park-based investment firm focused on later-stage technology companies, is the top-ranked firm on GrowthCap's second annual list of the Top 25 Growth Equity Firms. The list was based on a combination of fund performance, consistency of returns, capital raised, investment strategy and partner experience. NewSpring Growth Capital, Catalyst Investors, Canaan Equity and Caduceus Private Investment rounded out the top five. The complete rankings are available at the link below.
https://growthcap.co/articles/?p=528
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o SBA Launches Major Expansion of Online Loan-Matching Tool
Washington, DC -- Three months after initially releasing an online tool matching entrepreneurs with approved lenders, the Small Business Administration (SBA) said it has launched a major expansion of its platform known as LINC (Leveraging Information and Networks to Access Capital). Now, all SBA lenders can participate in the program, which since February only had been open to nonprofits. "Since we launched this program in February, close to 14,000 matches have been made," said SBA Administrator Maria Contreras-Sweet. "If you have a bankable business idea backed by good credit and sound financial planning, the SBA is streamlining the process for you to get the capital you need."
https://www.sba.gov/content/sba-administrator-announces-major-expansion-linc
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o Calif. Remains No. 50 in "Best States for Business" Rankings
Greenwich, Conn. -- California remains the least business-friendly state in the country, according to Chief Executive magazine's 2015 "Best and Worst States for Business" survey. The annual survey, completed by 511 CEOs, measure states across three primary categories -- taxes and regulations, quality of the workforce and living environment. Virginia came in at No. 14, down from No. 11 a year ago. "Despite high taxes and a non-business-friendly environment, California remains a hotbed for tech, venture capital and entertainment," the publication wrote. "Even with a quality workforce, this west coast state has not had any success in replacing lost business." The complete rankings, along with California's profile, are at the links below.
http://chiefexecutive.net/best-worst-states-business/2015 (Complete rankings)
http://chiefexecutive.net/state-ranking-detail/2015?state=CA (California profile)
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The Delicate Art of Persuading Your Boss
You’ve got a brilliant idea to transform the business. Or maybe you're just trying to stop the stupid train from rolling over the great work your team has done. You make your case to your boss, but she's not convinced. What next? Real leaders take a step back and get serious about the persuading.
http://fairfaxcountyeda.org/bay-area-tech-wire
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o Briefly Noted:
(San Jose, Calif.) San Jose-based Bridge Bank said it has expanded its credit agreement with Palo Alto-based Sysorex, a developer of big data software analytics and infrastructure tools. Bridge has increased the company's credit line from $6 million to $10 million, and also provided it with a new $2 million term loan.
http://www.sysorex.com
http://www.bridgebank.com/news/all-news/bridge-bank-increases-sysorex-credit-line-and-extends-additional-term-loan-12-million
(Menlo Park, Calif.) Menlo Park-based Armetheon, a specialty pharmaceutical firm developing drugs for cardiovascular diseases, on Friday named Andrew Lam as its vice president of product development. Lam most recently served as a consultant to the company, and previously was the vice president of product development at Altheos.
http://armetheon.com/andrew-lam-vice-president-product-development/
(Menlo Park, Calif.) Menlo Park-based Asterias Biotherapeutics, a biotechnology company focused on regenerative medicine, said it has promoted Edward Wirth III to the newly created role of chief medical officer. Wirth had served as chief translational officer since joining the company in early 2013.
http://asteriasbiotherapeutics.com/asterias-biotherapeutics-promotes-edward-wirth-m-d-ph-d-to-chief-medical-officer/
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Job/Event/Marketplace Listings:
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To Post in Job/Event/Marketplace: http://www.bayareatechwire.com
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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: http://optoro.com/careers/join#62042
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> The Delicate Art of Persuading Your Boss
You’ve got a brilliant idea to transform the business. Or maybe you're just trying to stop the stupid train from rolling over the great work your team has done. You make your case to your boss, but she's not convinced. What next? Real leaders take a step back and get serious about the persuading. http://fairfaxcountyeda.org/bay-area-tech-wire
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> 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 www.mitcio.com.
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