Friday, November 20, 2015

Bay Area Tech Wire -- Nov. 20

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BAY AREA TECH WIRE -- Nov. 20, 2015
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To subscribe: www.bayareatechwire.com

o San Francisco-Based Le Tote Raises $15 Million in Second Round
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San Francisco-Based Splunk Names Doug Merritt as New CEO
o Menlo Park-Based Facebook Launches New Tools to Help Ease Break-Ups
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KaloBios Pharmaceuticals Sells 70% Stake, Names New CEO
o Survey: Majority of U.S. Adults New Use Internet to Find Jobs
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Briefly Noted:
Intel
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o San Francisco-Based Le Tote Raises $15 Million in Second Round

San Francisco -- Le Tote, the San Francisco-based developer of an on-demand fashion rental service, said it has raised $15 million in its second round of funding, led by AITV. Previous backers Lerer Hippeau Ventures, Azure Capital, Simon Venture Group, Epic Ventures and Funders Club also participated in the round, which the company will use to continue building its executive team, make further investments in technology and accelerate overall company growth. Founded in 2012 by Brett Northart and Rakesh Tondon, Le Tote allows customers to borrow unlimited clothing and accessories for $49 a month and maternity clothing for $59 a month. Each shipment includes three pieces of clothing and two accessories, curated using the company's proprietary fit algorithm. The company said it is on track this year to deliver more than 2 million items to customers, achieve 500% year-over-year revenue growth and quadruple its workforce.
http://www.letote.com/ 
http://www.businesswire.com/news/home/20151119006281/en/Le-Tote-Raises-15-Million-Series-Continue 
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o San Francisco-Based Splunk Names Doug Merritt as New CEO

San Francisco -- Splunk, the San Francisco-based developer of a platform for real-time operational intelligence, said that Godfrey Sullivan has stepped down as its president and CEO. The company has named Doug Merritt, its senior vice president of field operations, as his successor. Sullivan, who joined the company in 2008, will transition to non-executive board chairman. The move comes as Splunk reported a 50% jump in year-over-year third-quarter revenue to $174.4 million, though its net loss also increased sharply, due to rises in R&D and sales and marketing expenses. "With the outstanding financial results that we are reporting today and the outlook for the rest of the year and FY17, I have concluded that now is the right time for me to make the logical progression to non-executive chair," said Sullivan in a statement. Merritt previously served as the senior vice president of products and solutions marketing at Cisco Systems, and was the CEO of Baynote.
http://www.splunk.com 
http://www.splunk.com/view/SP-CAAAPC6 
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o Menlo Park-Based Facebook Launches New Tools to Help Ease Break-Ups

Menlo Park, Calif. -- Facebook said it has begun testing new tools designed to help users more easily deal with break-ups on social media. The tools, now being rolled out to mobile users, allow people who indicate they are no longer in a relationship to see less of their former partner's name and profile picture without having to unfriend or block them; limit the photos, videos or status updates that a former partner will see; and edit who can see their past posts with a former partner and untag themselves from posts with that person. "This work is part of our ongoing effort to develop resources for people who may be going through difficult moments in their lives," wrote product manager Kelly Winters in a blog post. "We hope these tools will help people end relationships on Facebook with greater ease, comfort and sense of control."
http://newsroom.fb.com/news/2015/11/improving-the-experience-when-relationships-end/ 
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o KaloBios Pharmaceuticals Sells 70% Stake, Names New CEO

South San Francisco -- KaloBios Pharmaceuticals, a South San Francisco-based developer of therapies for oncology, said it has sold a 70% stake in the company to an investor group led by Martin Shkreli, the founder and CEO of Turing Pharmaceuticals. Financial terms of the deal were not disclosed. Shkreli also will become KsloBios' chairman and CEO, and will join other investors in pumping at least $13 million into the company. "We believe that the KaloBios' lenzilumab is a very promising candidate for the treatment of various rare and orphan diseases," said Shkreli. Shkreli will continue as the CEO of Turing Pharmaceuticals, and the two companies will operate independently.
http://www.kalobios.com
http://www.prnewswire.com/news-releases/kalobios-pharmaceuticals-inc-appoints-martin-shkreli-ceo-and-announces-new-financing-300182439.html?$G1Ref
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o Survey: Majority of U.S. Adults New Use Internet to Find Jobs

Washington, DC -- A majority of U.S. adults (54%) have used the Internet to look for job information and 45% have applied for a job online, according to a new survey by the Pew Research Center. The survey of more than 2,000 U.S. adults found that online resources now rival personal or professional connections as a source of job assistance. Among Americans who have looked for a new job in the past two years, 79% used online resources in their most recent search. That's nearly identical to the 80% who made use of professional contacts, close friends or family or more distant personal connections, and more than twice the number that turned to employment agencies, print ads or job fairs. "Online proficiency has become more and more important to finding work in today's job market, but some aspects of the digital job search are a substantial challenge for many Americans," said Aaron Smith, an associate director of research at Pew. "And in many cases, individuals who might benefit the most from being able to perform these behaviors effectively -- such as those with relatively low levels of educational attainment or those who are currently not employed for pay -- are the ones who find them most daunting."
http://www.pewinternet.org/2015/11/19/searching-for-work-in-the-digital-era/ (Full report)
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o Briefly Noted:

(Santa Clara, Calif.) Santa Clara-based chipmaker Intel on Friday named Venkata "Murthy" Renduchintala as the president of its newly created Client and Internet of Things (IoT) Businesses and Systems Architecture Group. Renduchintala most recently was the executive vice president of Qualcomm Technologies and co-president of Qualcomm CDMA Technologies (QCT).
http://newsroom.intel.com/community/intel_newsroom/blog/2015/11/20/intel-appoints-dr-venkata-murthy-renduchintala-president-client-and-internet-of-things-businesses-and-systems-architecture-group

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