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BAY AREA TECH WIRE -- Dec. 7, 2015
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o San Francisco-Based Gigster Raises $10 Million in First Round
o Vevo Acquires San Francisco-Based Showyou
o Uphill Completes $731 Million Acquisition of Milpitas-Based ISSI
o Clip Raises $8 Million in New Round of Funding
o Cvent Sells Consumer Ticketing Assets to S.F.-Based Vendini
o Gryphon Investors Leads Management Buyout of Jensen Hughes
o Briefly Noted: Pica8, TalentSky
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o San Francisco-Based Gigster Raises $10 Million in First Round
San Francisco -- Gigster, the San Francisco-based developer of an online marketplace for companies to hire on-demand software developers, designers and product managers, said on Monday it has raised $10 million in its first round of funding. Andreessen Horowitz led the round, which also included participation from Y Combinator Continuity Fund I, Ron Conway of SV Angel, Ashton Kutcher of Sound Ventures and Jason Calacanis of Launch Fund. Lars Dalgaard, a partner at Andreessen Horowitz and former CEO of SuccessFactors, will join the company's board of directors. Gigster's platform allows customers to click a button, chat with a product manager, get a fixed-price quote and hire a development team. Founders Roger Dickey and Debo Olaosebikan, both long-time developers, created the site after experiencing first-hand the frustrations of working with development shops and agencies. "Software development that requires continuous recruiting and months of development time writing code from scratch is slow and costly, and not necessarily a consistent internal need of all startups or large enterprises," said Dickey, who serves as CEO.
http://www.gigster.com
http://www.prnewswire.com/news-releases/gigster-on-demand-software-development-service-closes-10-million-series-a-led-by-andreessen-horowitz-300188640.html
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o Vevo Acquires San Francisco-Based Showyou
San Francisco -- Vevo, the New York-based music video and entertainment platform partially owned by two major record labels and Google, said on Monday it has acquired San Francisco-based Showyou, developer of a mobile streaming video platform. Financial terms of the deal were not disclosed. The move will allow Vevo to offer subscriptions to various video channels. "With the acquisition of Showyou we take a significant step forward in re-positioning Vevo as a best-in-class product-driven organization," said Erik Huggers, the president and CEO of Vevo. Showyou debuted in 2011, and over the past couple of years has added new tools and services that let users view content through subscription and video-on-demand models. "With the streaming media segment still very much in its infancy I believe we have a tremendous leadership opportunity in front of us as we combine forces and become part of Vevo," said Mark Hall, the founder and president of Showyou.
http://www.vevo.com/
https://showyou.com
http://www.prnewswire.com/news-releases/vevo-acquires-showyou-to-accelerate-product-efforts-300188461.html
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o Uphill Completes $731 Million Acquisition of Milpitas-Based ISSI
Milpitas, Calif. -- More than five months after accepting an acquisition offer from Uphill Investment, Milpitas-based semiconductor developer Integrated Silicon Solution Inc. (ISSI) said on Monday the companies have now completed their $731 million deal. Under the agreement, ISSI stockholders will receive $23 a share in cash. Shares of ISSI ceased trading on the NASDAQ Stock Market will cease today. Uphill in June won a protracted bidding war for the company with San Jose-based Cypress Semiconductor, which offered $22.60 a share in cash, plus a $0.10-a-share ticking fee for each additional quarter required to obtain regulatory approval.
http://www.issi.com
http://www.issi.com/US/investor-press-releases.shtml
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o Clip Raises $8 Million in New Round of Funding
San Francisco -- Clip, the developer of a card reader and mobile apps that allow merchants in Mexico to accept all payment methods, said on Monday it has raised $8 million in a new round of funding, led by Alta Ventures. New investors American Express Ventures and Sierra Ventures also took part in the round, which the company -- founded in San Francisco four years ago and now headquarters in Mexico City -- will use to accelerate its growth in Mexico. "This was a dream round for us," said co-founder and CEO Adolfo Babatz. "We brought in important investors and added key people to our team that will help Clip on its trajectory as it enters a crucial phase, where growth is really accelerating and the needs from management change substantially."
http://www.clip.mx
http://www.prnewswire.com/news-releases/clip-raises-usd-8-million-from-key-silicon-valley-and-mexican-investors-300188921.html
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o Cvent Sells Consumer Ticketing Assets to S.F.-Based Vendini
San Francisco -- Cvent, a Virginia-based developer of a cloud-based event management platform, said on Monday it has sold its consumer ticketing assets to Vendini, a San Francisco based consumer ticketing company. Financial terms of the deal were not disclosed. The company said the move will allow it to focus resources on its corporate event management tools and business platform for the hospitality industry. The sale includes the consumer ticketing line of business as well as related customer contracts, technology and intellectual property. "The divesture… will enable us to focus more of our attention, resources and efforts on the corporate and enterprise market," said CEO Reggie Aggarwal. "While our consumer ticketing solution was generating strong revenue growth, it was not core to our corporate focus."
http://www.cvent.com
http://www.vendini.com
http://www.cvent.com/en/company/cvent-increases-focus-on-corporate-event-and-hospitality-clouds.shtml
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o Gryphon Investors Leads Management Buyout of Jensen Hughes
San Francisco -- Gryphon Investors, a San Francisco-based private equity firm, said on Monday it has led a management buyout of Baltimore-based Jensen Hughes, a provider of specialty engineering consulting services. Financial terms were not disclosed. The company, which has 875 employees and annual revenue of approximately $180 million, said the deal will provide it with enough investment capital to lead it through its next phase of growth. Jensen Hughes focuses on fire protection systems, code consulting, hazard and risk assessments, forensic engineering, fire research, development and testing, commissioning and security services.
http://www.jensenhughes.com
http://www.gryphon-inv.com
http://www.businesswire.com/news/home/20151207005188/en/JENSEN-HUGHES-Merges-Gryphon-Investors
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o Briefly Noted:
(Palo Alto, Calif.) Palo Alto-based Pica8, a developer of open systems for software defined networking, on Monday named Dan Tuchler as its vice president of product management. Tuchler previously served as a product management executive at Alteon Websystems, Blade Network Technologies, Force10 Networks, Mellanox Technologies and Vyatta.
http://www.pica8.com/news/pica8-names-dan-tuchler-as-vp-of-product-management-2/
(Redwood City, Calif.) Redwood City-based TalentSky, developer of a skills-focused professional network set to launch in January, on Monday announced its board of directors. The board includes: TalentSky founder and CEO Rick Devine; Robert Edwards, the former president and CEO of Safeway; Stephen Gillett, the former COO of Symantec; Todd Hewlin, business innovation speaker and author; Eva Sage-Gavin, vice chairman of the Aspen Institute's Skills for America's Future advisory board; and Gabrielle Toledano, executive vice president and chief talent officer at Electronic Arts.
http://www.talentsky.com
http://www.prnewswire.com/news-releases/talentsky-announces-board-of-directors-300188323.html
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