Friday, October 25, 2013

Bay Area Tech Wire -- Oct. 25

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BAY AREA TECH WIRE -- Oct. 25, 2013
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San Francisco-Based Twitter Sets Price Range for IPO
o Redwood City-Based Shutterfly Acquires San Carlos-Based BorrowLenses
o Redwood City-Based Equinix Names Ihab Tarazi as CTO
o Rate of IT Employment Growth Continues to Slow in September
o Steve Largent to Step Down as Head of Wireless Association CTIA
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Briefly Noted: WSO2, Global Semiconductor Alliance

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o San Francisco-Based Twitter Sets Price Range for IPO

San Francisco -- Moving ahead with plans for its highly anticipated initial public offering (IPO), San Francisco-based Twitter disclosed on Thursday that it expects to sell its shares for $17-$20 each. The company has registered 80.5 million shares, which at the high end of the price range could bring in more than $1.6 billion. The stock will be listed on the New York Stock Exchange under the symbol "TWTR." Twitter three weeks ago first announced plans for the IPO, which is certain to be the most hyped since Facebook went public in May 2012. The complete SEC filing is available at the link below.
http://www.sec.gov/Archives/edgar/data/1418091/000119312513409822/
d564001ds1a.htm 
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o Redwood City-Based Shutterfly Acquires San Carlos-Based BorrowLenses

Redwood City, Calif. -- Shutterfly, the Redwood City-based operator of a digital photo and personalized products site, said it has acquired San Carlos-based BorrowLenses, developer of an online marketplace for photographic and video equipment rentals. Financial terms of the deal were not disclosed. BorrowLenses offers camera, lens and equipment rentals that can be delivered through the mail or picked up at camera stores in 12 states. "This acquisition gives Shutterfly a presence in the rapidly expanding sharing economy," said Jeffrey Housenbold, the president and CEO of Shutterfly. "We now have a greater ability to diversify our revenue streams, reduce fourth quarter seasonality and improve upsell and cross-sell opportunities among our family of brands." BorrowLenses's founders, Max Shevyakov and Mark Gurevich, will join Shutterfly in unspecified roles.
http://www.shutterflyinc.com 
http://www.borrowlenses.com/ 
http://ir.shutterfly.com/releasedetail.cfm?ReleaseID=800250 
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o Redwood City-Based Equinix Names Ihab Tarazi as CTO

Redwood City, Calif. -- Equinix, a Redwood City-based owner and operator of data centers, has named Ihab Tarazi as its CTO. Tarazi most recently served as the vice president of enterprise network services at Verizon, and previously was chairman of the Metro Ethernet Forum. In his new role, Tarazi will be responsible for the company's International Business Exchange network operations and platform strategy, while also contributing to its cloud initiatives.
http://www.equinix.com 
http://www.equinix.com/company/news-and-events/press-releases/equinix-appoints-ihab-tarazi-as-chief-technology-officer/ 
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o Rate of IT Employment Growth Continues to Slow in September

Alexandria, Va. -- U.S. information technology employment grew for the 25th straight month in September, though the rate of growth continued to slow. The number of new IT jobs increased 0.1% to 4.51 million, according to the TechServe Alliance, a national trade association for the IT and engineering staffing industry. "While demand for IT professionals remains strong, the rate of IT employment growth has slowed over the last quarter," said Mark Roberts, CEO of the TechServe Alliance. "The deceleration is no doubt attributable to multiple factors including some increased caution on the part of businesses and uncertainty associated with policy disputes in Washington, DC." On a year-over-year basis, IT employment has grown by 5.9% since Sept. 2012 adding 250,000 IT workers. The complete report is available at the link below.
http://www.techservealliance.org/pressroom/documents/IndexreleaseOctober2013-MBR.pdf (PDF)
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o Steve Largent to Step Down as Head of Wireless Association CTIA

Washington, DC -- Steve Largent announced on Friday that he won't seek an extension of his current contract as president and CEO of wireless association CTIA, which he has led since 2003. The contract of the former NFL star is set to expire next year. The organization's board of directors said it will immediately begin conducting a search for his successor. "I believe it's appropriate to give our board of directors notice of my intentions so that it can plan accordingly, and proceed to find my successor," said Largent, who plans to spend more time with family.
http://www.ctia.org/media/press/body.cfm/prid/2300 
http://www.ctia.org/aboutCTIA/president/
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Digital Entertainment World (DEW) is the best place to connect with content creators and owners, enabling technology providers, digital distributors and device manufacturers to create the infrastructure and technology partnerships necessary to monetize digital content. The three-day event brings together leading industry executives from games, music, video and publishing to discuss, deliberate, debate and celebrate the issues, opportunities and successes driving the digital entertainment industry. Digital Entertainment World is changing the way content owners, enabling technology providers, digital distribution platforms and CE manufacturers meet and engage. Hyatt Regency, Feb. 18-20, 2014, Los Angeles, CA. Register at: http://www.dewexpo.com   

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o Briefly Noted:


(Palo Alto, Calif.) Palo Alto-based WSO2, a developer of open source service-oriented architecture (SOA) technology, said it has opened a new office in Bloomington, Indiana. The company said the office initially will focus on providing technical support, technical sales and architecture consulting and services. It has begun recruiting for new employees in the area.
http://wso2.com/ 
http://www.businesswire.com/news/home/20131025005094/en/WSO2-Expands-Sales-Support-Operations-Opening-Bloomington
 
(San Jose, Calif.) The San Jose-based Global Semiconductor Alliance (GSA) has named the co-founders of Marvell Technology Group as the co-winners of its highest honor, the 2013 Dr. Morris Chang Exemplary Leadership Award. Sehat Sutardja, Marvell's chairman and CEO, and Weili Dai, its president, will receive their awards during a dinner on Dec. 12 in Santa Clara.
http://www.gsaglobal.org/2013/10/marvell-co-founders-bestowed-gsas-highest-honor/

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> Digital Entertainment World: Register Now and Save $200


Digital Entertainment World (DEW) is the best place to connect with content creators and owners, enabling technology providers, digital distributors and device manufacturers to create the infrastructure and technology partnerships necessary to monetize digital content. The three-day event brings together leading industry executives from games, music, video and publishing to discuss, deliberate, debate and celebrate the issues, opportunities and successes driving the digital entertainment industry. Digital Entertainment World is changing the way content owners, enabling technology providers, digital distribution platforms and CE manufacturers meet and engage. Hyatt Regency, Feb. 18-20, 2014, Los Angeles, CA. Register at:
http://www.dewexpo.com
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