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BAY AREA TECH WIRE -- Nov. 19, 2015
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o San Francisco-Based Square Prices IPO, Shares Surge 45%
o S.F.-Based Earnest Lands $75 Million in Second Round
o San Francisco-Based PresenceLearning Raises $25 Million in Third Round
o San Francisco-Based Apsalar Raises $8 Million in Funding
o CTA Inducts Eight into Consumer Electronics Hall of Fame
o Briefly Noted: Citrix Systems, Integral Development
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o San Francisco-Based Square Prices IPO, Shares Surge 45%
San Francisco -- Shares of San Francisco-based Square jumped 45% on their first day of trading Thursday, hours after the mobile payment technology company priced its initial public offering (IPO) well below expectations. The company raised $230.9 million, selling 25.65 million shares for $9 each -- under its proposed range of $11-$13. The Start Small Foundation, a charitable fund created by Square founder and CEO Jack Dorsey, also sold 1.35 million shares. The initial price gave Square a market capitalization of $2.9 billion, according to reports. Shares began trading early Thursday on the New York Stock Exchange under the symbol "SQ," and closed Thursday at $13.07. Founded in 2009 by Twitter co-founder Dorsey, Square reported revenue of $560 million for the six months ended in June, which represents a 51% increase over the same period a year ago. The company markets several software and hardware products for mobile payments. Its primary venture capital investors included Khosla Ventures, JPMorgan Chase, Sequoia Capital and Rizvi Traverse.
https://squareup.com/
https://squareup.com/news/sq-pricing
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o S.F.-Based Earnest Lands $75 Million in Second Round
San Francisco -- Earnest, a San Francisco-based developer of financial services technology focused on consumer lending, said it has raised $75 million in its second round of funding, led by Battery Ventures. Adams Street Partners and previous backer Maveron also participated. In addition, the company announced $200 million in lending capital from New York Life and others. The company said it will use the equity funding to continue building out its technology, data and engineering teams, with plans to introduce several new financial products and tools in 2016. The additional lending capital will help fund the company's client base across its existing products. Founded in 2013, Earnest uses rich data science and proprietary software to gain a broader understanding of clients' financial habits and preferences, while reducing overhead and infrastructure costs. The company's current product offerings include student loan refinancing, personal loans and loans for coding academy programs. Roger Lee, a general partner at Battery, has joined the company's board.
http://www.meetearnest.com
http://www.marketwired.com/press-release/earnest-secures-275-million-total-financing-power-modern-bank-next-generation-2074342.htm
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o San Francisco-Based PresenceLearning Raises $25 Million in Third Round
San Francisco -- PresenceLearning, a San Francisco-based provider of live online speech therapy, occupational therapy, and behavior and mental health services for K-12 students, said on Thursday it has raised $25 million in its third round of funding, led by Catalyst Investors. Previous backers Birchmere Ventures, Blue Heron Capital, Catamount Ventures and New Markets Venture Partners also participated in the round. Ryan McNally, Catalyst's partner and co-founder, has joined the company's board of directors. Founded in 2009, PresenceLearning connects clinicians and students through its platform and marketplace. The company said it plans to continue growing within its current focus areas, while also expanding into additional allied health fields and new user populations. "Our mission is to make all kinds of online therapy practical, affordable, and convenient for everyone," said co-CEO Clay Whitehead. "After starting with schools… we are now expanding to hospitals and other places where people need professional care."
http://www.presencelearning.com
http://www.businesswire.com/news/home/20151119005346/en/Catalyst-Investors-Leads-25-Million-Series-Investment
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o San Francisco-Based Apsalar Raises $8 Million in Funding
San Francisco -- Apsalar, a San Francisco-based maker of mobile app marketing measurement and optimization tools, said on Thursday it has raised $8 million in a new round of funding, YJ Capital joined previous backers Thomvest Ventures and DCM Ventures in the round, which the company will use to expand its global footprint and develop new services for clients. Apsalar's ROI tool is designed to enable precise app marketing attribution and measurement, and its analytics and segmentation tools are designed to let marketers to define high-performing audiences for customized marketing and messaging.
https://apsalar.com
http://prnewswire-yahoopartner.tumblr.com/post/133536488156/apsalar-announces-8-million-funding
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o CTA Inducts Eight into Consumer Electronics Hall of Fame
Arlington, Va. -- The Consumer Technology Association (CTA), formerly known as the Consumer Electronics Association, has inducted eight new members into its Consumer Electronics Hall of Fame. Inductees included: Robert Borchardt, the former president and CEO of Recoton; Tom Campbell, consumer electronics retail executive and consultant; George Feldstein, an early pioneer of the modern connected home; Vic Hayes, founding chairman of the IEEE 802.11 Working Group for Wireless LANs; Noel Lee, the founder of Monster Inc.; Bernie Mitchell, the former president of Pioneer America; Floyd Toole, a pioneering psychoacoustic engineer; and Wilfred Schwartz, founder consumer electronics retail chain the Federated Group. The new class was selected by a panel of media and industry professionals, who judged the nominations submitted online by manufacturers, retailers and industry journalists. With the 2015 class, the Hall of Fame now includes 217 inventors, engineers, retailers, journalists and entrepreneurs.
http://www.cta.tech/News/News-Releases/Press-Releases/2015-Press-Releases/The-Consumer-Technology-Association-Inducts-Eight.aspx
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o Briefly Noted:
(Santa Clara, Calif.) Santa Clara-based Citrix Systems, the developer of mobile workspaces, has named Tim Minahan as its chief marketing officer (CMO). Minahan most recently was the CMO of SAP Cloud, and earlier was the senior vice president of network strategy and CMO at Ariba. The news comes less than two weeks after Citrix named Robert Calderoni, its executive chairman, as interim president and CEO. He succeeded Mark Templeton, who announced plans to retire in July.
http://www.citrix.com
https://www.citrix.com/news/announcements/nov-2015/citrix-appoints-tim-minahan-as-chief-marketing-officer.html
(Palo Alto, Calif.) Palo Alto-based Integral Development, a developer of electronic FX trading platforms, on Thursday announced new executive appointments in its New York, London and Tokyo operations. The company has named Soren Haagensen as the managing director of BankFX in the Americas, Alan Scott as managing director of enterprise solutions and Takashi Ozeki as regional sales director for Japan.
http://www.integral.com
http://www.businesswire.com/news/home/20151119005372/en/Integral-Expands-Senior-Team-York-London-Tokyo
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