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BAY AREA TECH WIRE -- Sept. 25, 2017
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Inbox Summit East - Sept. 29 - DC
http://www.inboxsummiteast.com/
o SAP Acquires Mountain View-based Gigya in $350 Million Deal
o Report: Obama Administration Tried to Warn Facebook About Russia
o Palo Alto-based Recvue Raises $2 Million in Venture Funding
o FDA Takes Action Against 500 Website that Illegally Sell Medicine
o San Francisco-baded Prosper Raise $50 Million in Series G Investment
> Inbox Summit East - Sept. 29 - DC
o Briefly Noted: Cint, Pulse Biosciences
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o SAP Acquires Mountain View-based Gigya in $350 Million Deal
Mountain View, Calif. -- Gigya, the Mountain View-based developer of customer identity and access management technology, announced on Sunday that it has reached an agreement to be acquired by SAP. Various media outlets reported that the acquisition price was about $350 million; the exact amount was not disclosed. Gigya, which has more than 300 employees, currently manages 1.3 billion customer identities that are used to build relationships for its clients. The company will become part of SAP's Hybris business unit. The transaction is expected to close in the final quarter of 2017.
http://www.gigya.com/gigya-the-market-leader-in-customer-identity-and-access-management-to-be-acquired-by-sap/
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o Report: Obama Administration Tried to Warn Facebook About Russia
Washington, D.C. -- During the lead up to the presidential election last year, the Obama Administration tried to warn Facebook about the Russian government's use of the social network in support of the Trump campaign, according to a story in The Washington Post on Monday. "For months leading up to the vote, Obama and his top aides quietly agonized over how to respond to Russia's brazen intervention on behalf of the Donald Trump campaign without making matters worse," the Washington Post reported on Monday. "Weeks after Trump's surprise victory, some of Obama's aides looked back with regret and wished they had done more." In the months before the election, Facebook seemed to minimized the significance of the disinformation campaign being used by Russia on its platform. Facebook has recently provided over 3,000 politically motivated advertisements from the campaign that came from Russian sources.
http://wapo.st/2xqHfid?tid=ss_mail&utm_term=.1e1c9f7c2917
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o Palo Alto-based Recvue Raises $2 Million in Venture Funding
Palo Alto, Calif. -- Recvue, a Palo Alto-based billing management platform, announced that it has raised $2 million in venture funding. Cota Capital led the round. Recvue's recurring revenue management platform aims to streamline and simplify the management of subscription and usage-based contracts. "We've taken our 20+ years of experience implementing contract management and billing solutions for fast growing companies and paired that with modern-day technologies," said Nishant Nair, founder and CEO of Recvue. The company was founded in 2015.
http://www.recvue.com/recvue-secures-2-million-financing-round-to-help-enterprises-streamline-their-complex-recurring-revenue-businesses/
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o FDA Takes Action Against 500 Website that Illegally Sell Medicine
Washington, D.C. -- The U.S. Food and Drug Administration, in partnership with international regulatory and law enforcement agencies, announced on Monday that it has recently taken action against more than 500 websites that illegally sell unapproved versions of prescription medicines. The medicines included opioids and antibiotics. The FDA said the actions were part of a global operation targeting illegal drugs being marketed online, and shipped through the postal system. The FDA also issued warning letters to the operators of a majority of the illegal websites that were targeted in the operation and worked with internet registrars to confiscate certain websites. "These rogue online pharmacies are often run by sophisticated criminal networks that knowingly and unlawfully distribute illicit drugs, including counterfeit medicines and controlled substances," said FDA Commissioner Scott Gottlieb. "Consumers go to these websites believing that they are buying safe and effective medications, but they are being deceived and put at risk."
https://www.fda.gov/NewsEvents/Newsroom/PressAnnouncements/ucm577178.htm
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o San Francisco-baded Prosper Raise $50 Million in Series G Investment
San Francisco -- Prosper, the San Francisco-based lending platform for consumer loans, announced on Friday that it has received a $50 million investment from an investment fund co-managed by FinEX Asia. The company said the Series G investment, which brings Prosper's total equity raised to $410 million, will be used to make strategic investments in the company's platform and products. Prosper recently reported second quarter results with $775 million in loan originations through its platform.
http://www.businesswire.com/news/home/20170922005525/en/Prosper-Announces-50-Million-Series-Investment
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o Briefly Noted:
(San Francisco) Cint, a developer of software used by companies to gain insights into consumer data, announced the appointment of a chief operations officer and chief innovation officer on Monday. Richard Thornton, the company's deputy CEO, will now take on the responsibility of chief operations officer, in a newly created role. Oscar Carlsson has been appointed to chief innovation officer and will relocate to San Francisco.
https://www.cint.com/press-release/cint-celebrates-global-momentum/
(Hayward, Calif.) Pulse Biosciences, a Hayward-based medical technology company developing a proprietary therapeutic tissue treatment, announced that it has entered into a stock purchase agreement with Robert W. Duggan. The private placement is expected to yield gross proceeds of $30 million. The company's stock was up 24% on Monday.
http://investors.pulsebiosciences.com/phoenix.zhtml?c=254359&p=irol-newsArticle&ID=2302526
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http://www.inboxsummiteast.com/
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