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BAY AREA TECH WIRE -- Jan. 4, 2016
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o S.F.-Based Lyft Raises $1 Billion, Forges Partnership with GM
o Santa Clara-Based PsiKick Raises $16.5 Million in Second Round
o San Jose-Based Intel Completes $16.7 Billion Acquisition of Altera
o Redwood City-Based Oracle Settles FTC Charges Over Java Updates
o San Francisco-Based Roostify Hires Two Key Executives
o South San Francisco-Based KaloBios Files for Chapter 11
o Briefly Noted: Coupa Software, Pandora - Rdio
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> Job/Event/Marketplace Classified Listings (Full Listings Below Stories)
--Chief Technology Officer - City of Cupertino, CA
--Digital Entertainment Expo - Feb. 9-11 - Los Angeles
Ad Descriptions Below Briefly Noted Section
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o S.F.-Based Lyft Raises $1 Billion, Forges Partnership with GM
San Francisco -- Looking to keep pace with the expansion of rival Uber, San Francisco-based ridesharing company Lyft said on Monday it has raised $1 billion at a $5.5 billion post-money valuation. Automotive giant General Motors led the round with a $500 million investment, while Kigdom Holding added $100 million and Janus Capital Management, Rakuten, Didi Kuaidi and Alibaba also took part. GM, which will take a seat on the company's board, also has partnered with Lyft to create what they're calling an "autonomous on-demand network," combining the automaker's autonomous vehicle development with Lyft's software to automate ride matching, routing and payments. In addition, the two companies will work together on a series of national rental hubs where Lyft drivers will be able to rent short-term vehicles. "We see the future of personal mobility as connected, seamless and autonomous," said Dan Ammann, the president of GM. "With GM and Lyft working together, we believe we can successfully implement this vision more rapidly." Lyft's rideshare platform currently accounts for 7 million rides a month in more than 190 U.S. cities. Since 2013, the company has raised more than $2 billion. Lyft's chief competitor, Uber, reportedly is seeking to raise as much as $2.1 billion at a valuation of $62.5 billion.
https://www.lyft.com/
http://www.gm.com
http://www.prnewswire.com/news-releases/lyft-is-closing-1-billion-to-continue-rapid-growth-300198472.html
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o Santa Clara-Based PsiKick Raises $16.5 Million in Second Round
Santa Clara, Calif. -- PsiKick, a Santa Clara-based developer of wireless, self-powering Internet of Things (IoT) systems, said it has raised $16.5 million in its second round of funding, led by Osage University Partners. Previous backers New Enterprise Associates (NEA), the University of Michigan Investment in New Technologies Fund (MINTS) and individual angels also took part in the round, which increases the company's total funding to more than $22 million. Marc Singer, managing partner at Osage, will join the company's board of directors. "This Series B financing will allow us to continue hiring leading IoT engineering talent and developing completely batteryless systems based on these fundamental technologies," said CEO Brendan Richardson. PsiKick has developed a system combining energy harvesting nodes with overhauled wireless communication and ultra-low power radios, eliminating the dependence on batteries by IoT devices.
http://www.psikick.com
http://www.businesswire.com/news/home/20151223005056/en/PsiKick-Raises-16.5M-Series-Power-Batteryless-Revolution
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o San Jose-Based Intel Completes $16.7 Billion Acquisition of Altera
San Jose, Calif. -- Intel, the San Jose-based chipmaker, said it has completed its $16.7 billion acquisition of San Jose-based Altera, a developer of programmable chips. Intel paid $54 a share in cash under the deal, which was announced in June. The acquisition gives the company field-programmable gate array (FPGA) technology that it said will lead to new products in the data center and Internet of Things (IoT) markets. Altera will operate as a new unit of Intel called the Programmable Solutions Group (PSG), led by Altera veteran Dan McNamara. "As part of Intel, we will create market-leading programmable logic devices that deliver a wider range of capabilities than customers experience today," said McNamara, corporate vice president and general manager of the group.
http://newsroom.intel.com/community/intel_newsroom/blog/2015/12/28/intel-completes-acquisition-of-altera
http://intelacquiresaltera.transactionannouncement.com/
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o Redwood City-Based Oracle Settles FTC Charges Over Java Updates
Redwood City, Calif. -- Oracle, the Redwood City-based database software giant, has settled charges with the Federal Trade Commission (FTC) over allegations that it deceived customers about Java software updates. The FTC alleged that Oracle was aware of significant security issues affecting older versions of Java SE, which is installed on more than 850 million personal computers. . The issues allowed hackers to craft malware that could allow access to consumers' usernames and passwords for financial accounts, as well as other sensitive personal information. Under the proposed settlement, Oracle will be required to give consumers the ability to easily uninstall insecure, older versions of Java SE. "When a company's software is on hundreds of millions of computers, it is vital that its statements are true and its security updates actually provide security for the software," said Jessica Rich, director of the FTC's Bureau of Consumer Protection. "The FTC’s settlement requires Oracle to give Java users the tools and information they need to protect their computers."
https://www.ftc.gov/news-events/press-releases/2015/12/oracle-agrees-settle-ftc-charges-it-deceived-consumers-about-java
http://www.consumer.ftc.gov/blog/whats-worse-stale-coffee-stale-java
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o San Francisco-Based Roostify Hires Two Key Executives
San Francisco, Calif. -- Roostify, a San Francisco-based developer of automated mortgage transaction technology, has named Iyad Darcazallie as its CFO and COO and Scott Stein as its vice president of sales. Darcazallie, who previously had served as an advisor to the company, had been the senior vice president and general manager of Derceto's North American business unit. He earlier held senior leadership positions at EPS, HP, Ernst & Young's Management Consulting & Corporate Finance groups and Net-Strike Worldwide. Stein most recently was the executive vice president of sales at Mercury Network, and earlier was the CEO of mortgage software company Xetus. Roostify, which launched in 2014, closed its first round of funding in October and recently was selected for the Wells Fargo Startup Accelerator.
http://www.roostify.com
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o South San Francisco-Based KaloBios Files for Chapter 11
South San Francisco -- KaloBios Pharmaceuticals, the troubled, South San Francisco-based biopharmaceutical firm, said it has filed for Chapter 11 bankruptcy protection. The company, which listed both assets and liabilities in the range of $1 million-$10 million, said it will continue to operate its business as a "debtor-in-possession." The news comes just weeks after KaloBios sold a 70% stake in the company to an investor group led by Martin Shkreli, the founder and CEO of Turing Pharmaceuticals. Shkreli, who came under widespread scrutiny for dramatically raising the price of a drug that treats a parasitic infection in pregnant women, was then arrested for securities fraud last month.
http://www.kalobios.com/
http://ir.kalobios.com/releasedetail.cfm?releaseid=948351
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o Briefly Noted:
(San Mateo, Calif.) San Mateo-based Coupa Software, a developer of cloud-based spend management tools, has named former Salesforce executive Frank van Veenendaal to its board of directors. Van Veenendaal previously served as an executive vice chairman at Salesforce and also served in a variety of executive sales roles, including president of worldwide sales and services, chief sales officer and president of global corporate sales for North American operations.
http://www.coupa.com/newsworthy/press-releases/frank-van-veenendaal-joins-coupa-board-directors/index.php
(Oakland) Oakland-based Internet radio service Pandora said it has completed its $75 million acquisition of technology and intellectual property from Rdio, which discontinued its service as of Dec. 22. The company will add nearly 100 former Rdio employees to its product, engineering and content licensing teams. Pandora said the move will accelerate its plan to substantially broaden its subscription business and roll out a multi-tier product offering by late 2016. The companies first announced the deal in November.
http://www.pandora.com
http://www.businesswire.com/news/home/20151223005130/en/Pandora-Completes-Acquisition-Rdio-Technology-IP
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> Chief Technology Officer - City of Cupertino, CA
The City of Cupertino, California is conducting a national search to recruit its first Chief Technology Officer. Recently reorganized to include Communications, IT, and GIS, the Information Services Department will be led by this department head position. The next Chief Technology Officer will lead a dedicated staff in a well-resourced community in the heart of Silicon Valley, with strong access to innovative technologies. The ideal candidate will be a change agent who is an excellent communicator that leads with a coaching/mentoring style. A Bachelor’s degree in Information Technology, Business Administration, or a related field is required, as is 5 years of directly related experience, including 3 years of supervisory level experience. Annual salary range is $148,908 - $181,908 plus an excellent benefit package including CalPERS retirement and excellent work schedule. Interested candidates should submit their cover letter, resume, and salary history via email to apply@ralphandersen.com. Apply by Friday, January 22, 2016. Confidential inquiries welcomed to Greg Nelson at (916) 630-4900 ext. 137. Brochure available at http://www.ralphandersen.com/jobs/chief-technology-officer-cupertino/
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> Digital Entertainment Expo - Feb. 9-11 - Los Angeles
From digital content creation to monetization, Digital Entertainment World is where you want to be if you are in the business of creating or monetizing digital entertainment content. DEW 2016 celebrates the visionary content creators and technology innovators who are creating the engaging products and experiences driving the future of connected entertainment.
http://www.dewexpo.com/
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