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BAY AREA TECH WIRE -- Dec. 2, 2015
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o Facebook's Mark Zuckerberg to Donate 99% of Shares Worth $4.5 Billion
o WSJ: Sunnyvale-Based Yahoo to Discuss Selling Internet Business
o South San Francisco-Based ORIC Pharmaceuticals Lands $53 Million
o Neurona Therapeutics Launches After Raising $23.5 Million
o Cyber Monday Was Heaviest Online Shopping Day in History
o Briefly Noted: ThinkHR, Norse, FusionOps
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o Facebook's Mark Zuckerberg to Donate 99% of Shares Worth $4.5 Billion
Menlo Park, Calif. -- On the occasion of the birth of their first child, Facebook co-founder and CEO Mark Zuckerberg and wife Priscilla Chan on Tuesday announced plans to give away 99% of their Facebook shares -- currently worth about $45 billion -- as part of an initiative to "advance human potential and promote equality for all children." The couple said they will donate the shares over the course of their lifetime in what they're calling the "Chan Zuckerberg Initiative." "Our initial areas of focus will be personalized learning, curing disease, connecting people and building strong communities," wrote Zuckerberg wrote in an open letter to his newborn daughter, Max. "We know [$4.5 billion] is a small contribution compared to all the resources and talents of those already working on these issues. But we want to do what we can, working alongside many others." Zuckerberg said he and Chan will "share more details in the coming months," once they return from maternity and paternity leaves.
https://www.facebook.com/notes/mark-zuckerberg/a-letter-to-our-daughter/10153375081581634
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o WSJ: Sunnyvale-Based Yahoo to Discuss Selling Internet Business
Sunnyvale, Calif. -- The board of Sunnyvale-based Yahoo will meet later this week to discuss the possible sale of its Internet business, The Wall Street Journal reported. The publication, citing people familiar with the matter, also said the agenda will include discussing options for the company's 35% stake in Yahoo Japan and 15% stake in Chinese e-commerce giant Alibaba Group. The discussions come at a time of growing pressure for CEO Marissa Mayer, who has struggled to grow Yahoo's ad business and compete with market leaders Google and Facebook, The Journal wrote.
http://www.wsj.com/articles/yahoos-internet-business-could-draw-interest-from-softbank-1449041064
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o South San Francisco-Based ORIC Pharmaceuticals Lands $53 Million
South San Francisco -- ORIC Pharmaceuticals, a South San Francisco-based developer of small-molecule drugs that target treatment-resistant cancers, said on Wednesday it has landed $53 million in its second round of funding, which the company will use to advance its first drug candidate into clinical trials and further develop its pipeline. Previous backers The Column Group and Kravis Investment Partners joined new investors Topspin Partners, OrbiMed Advisors, EcoR1 Capital and Foresite Capital in the round. ORIC was founded by oncology experts Charles Sawyers and Scott Lowe, who are on the faculty at Memorial Sloan Kettering Cancer Center. The company is working to gain new clinical understanding about tumor resistance mechanisms at the molecular level, which it plans to replicate using lab-based models in order to identify drug targets. It is initially working on drugs targeting advanced prostate cancer. "We believe we are uniquely qualified to tackle this challenge and develop next-generation therapies that will help people with cancer live longer," said interim CEO Richard Heyman.
http://oricpharma.com/
http://oricpharma.com/news/oric-pharmaceuticals-announces-53-million-series-b-financing-to-support/
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o Neurona Therapeutics Launches After Raising $23.5 Million
South San Francisco -- Neurona Therapeutics, a South San Francisco-based biotechnology firm focused on the transplantation of neurons to treat neurological diseases, said it has officially launched operations after raising $23.5 million in its first round of funding. The Column Group led the round for the company, which was founded by neuroscientists and stem cell pioneers from the University of California, San Francisco (UCSF). "We believe there is an unprecedented opportunity to create a novel class of therapeutics with the potential to permanently repair dysfunctional neural circuits," said Tim Kutzkey, the interim CEO of Neurona and a Partner at The Column Group.
http://www.neuronatx.com
http://www.marketwired.com/press-release/-2078296.htm
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o Cyber Monday Was Heaviest Online Shopping Day in History
Reston, Va. -- Cyber Monday was the heaviest online shopping day in history, according to new figures from comScore. Sales for the day reached $3.2 billion, up 21% from a year ago, marking the first time in history that total digital spend surpassed the $3 billion mark in a single day. Approximately 27% of all sales came from mobile devices. Among retailers, Amazon was the big winner, beating out Walmart, eBay, Target and Best Buy as the most visited retail property. "Despite some talk of Cyber Monday declining in importance, the day's historical highs and continued strong growth rates confirm it is still a hugely important shopping event." said Gian Fulgoni, comScore's chairman emeritus. "It comes as no surprise that Amazon led all online retail properties in Cyber Monday traffic, but several multi-channel retailers such Walmart and Target also had very strong showings."
http://www.comscore.com/Insights/Press-Releases/2015/12/Cyber-Monday-Surpasses-3-Billion-in-Total-Digital-Sales-to-Rank-as-Heaviest-US-Online-Spending-Day-in-History
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o Briefly Noted:
(Pleasanton, Calif.) Pleasanton-based ThinkHR, developer of a cloud-based human resources platform supported by human advisors, on Wednesday named Patrick Di Chiro as its inaugural chief marketing officer (CMO) and Bryan Kleppe as its vice president of customer success. Di Chiro previously founded and led digital marketing firm Thunder Factory, and earlier served as the chief communications officer of E*Trade. Kleppe previously worked with technology companies such as SAS, Oracle and, most recently, Salesforce.com.
https://www.thinkhr.com/company/news/
(Foster City, Calif.) Foster City-based Norse, a cybersecurity firm offering live attack intelligence designed to help companies block threats, said on Tuesday it has expanded its presence in the federal market with new hires in its Washington, DC office. The company which in September raised $11.4 million in a round of funding led by KPMG Capital, has hired Marco Crivelli to lead its federal sales team and Kevin Lemmon as its field engineering director. Crivelli previously held leadership roles as Gigamon, Mandiant and Solera, while Lemmon has worked at companies including Cloudera, ArcSight, HP and Symantec.
http://www.norse-corp.com/
(Mountain View, Calif.) Mountain View-based FusionOps, developer of a supply chain intelligence cloud service, on Wednesday named Travis Adlman as its inaugural chief financial officer (CFO). Adlman most recently was the CFO of AnchorFree, and previously led the finance and operational organizations for Kosmix before its acquisition by Walmart.
http://www.fusionops.com
http://www.businesswire.com/news/home/20151202005303/en/FusionOps-Appoints-Travis-Adlman-Chief-Financial-Officer
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