If all goes as planned for Uber, and the company launches an air-transportation service in 2020, it will need to hire a lot of pilots. Exactly how many is a little unclear: One of the executives leading Uber’s effort to apply its ride-sharing model to air travel contended during a panel at South by Southwest … Continue reading “Kitty Hawk Who? Uber’s Best-Laid Plans for Flying Cars, Air Travel”
Author: David Holley
David is the national correspondent at Xconomy. He has spent most of his career covering business of every kind, from breweries in Oregon to investment banks in New York. A native of the Pacific Northwest, David started his career reporting at weekly and daily newspapers, covering murder trials, city council meetings, the expanding startup tech industry in the region, and everything between. He left the West Coast to pursue business journalism in New York, first writing about biotech and then private equity at The Deal. After a stint at Bloomberg News writing about high-yield bonds and leveraged loans, David relocated from New York to Austin, TX.
He graduated from Portland State University.
A.I. Is Advanced, But Decades From Singularity and Elon Musk’s Fears
Austin—The future of artificial intelligence and its applications for businesses, consumers, and life in general remain murky. Last year at South by Southwest, prognosticator Ray Kurzweil discussed his prediction that A.I. would have human-level intelligence by 2029. This year, Adam Cheyer, the co-founder of Siri, said he thinks it’ll take a bit longer. “In my … Continue reading “A.I. Is Advanced, But Decades From Singularity and Elon Musk’s Fears”
Before SXSW, Austin Tech Startups Tout Funds for Share of Spotlight
Austin—Besides drawing countless entrepreneurs to Austin every year, the days before South by Southwest also seems to be a time of startups making venture funding announcements, particularly those from Austin-based companies looking to make a name at the conference. The largest deal announced so far in the days before SXSW has been a $40 million … Continue reading “Before SXSW, Austin Tech Startups Tout Funds for Share of Spotlight”
EPIcenter Focuses on Technology for Disaster Recovery With May Event
San Antonio—An organization focused on promoting energy businesses and innovation in San Antonio is taking a unique angle for the topic of a summit it is hosting in May: technologies that can help the recovery process from disasters, such as hurricanes or even cyber attacks. EPIcenter, which is redeveloping a 108-year-old power plant into a … Continue reading “EPIcenter Focuses on Technology for Disaster Recovery With May Event”
Jungle Disk Buys Security Software That Manages and Shares Passwords
San Antonio—Data security firm Jungle Disk has acquired TeamPassword, a small startup that provides password management services for small- and mid-sized businesses, particularly digital advertising and marketing firms that require numerous logins. Terms weren’t disclosed. TeamPassword was founded in Baltimore, MD, in 2012 by Brian Sierakowski, the company’s CEO. He participated in a Startup Weekend … Continue reading “Jungle Disk Buys Security Software That Manages and Shares Passwords”
India’s Wipro Buys Small Stake in Denim For App Security Business
San Antonio—An Indian tech company is paying $8.83 million to acquire a 33.3 percent stake in San Antonio-based Denim Group, a cybersecurity software development and consulting firm. Wipro, a global IT business based in Bangalore, India, that’s traded on public exchanges in both the U.S. and India, was interested in Denim Group in part because … Continue reading “India’s Wipro Buys Small Stake in Denim For App Security Business”
DoorDash’s $535M Funding Round Means It’s Coming to 1,000 New Cities
DoorDash hit it big with a $535 million Series D round of funding led by Chinese business conglomerate SoftBank Group, the food delivery company announced this morning. It’s the largest financing for a U.S. food delivery service, according to Reuters, which said the funding gave DoorDash a $1.4 billion valuation, citing a person familiar with … Continue reading “DoorDash’s $535M Funding Round Means It’s Coming to 1,000 New Cities”
Aurora, Led by Google and Tesla Driverless Car Vets, Lands $90M
Aurora Innovation, a self-driving car startup whose founders have ties to Google, Tesla, and Uber, has raised $90 million in Series A funding co-led by Greylock Partners and Index Ventures. Along with the money, Greylock and Index are adding a member each to Aurora’s board of directors: Reid Hoffman, the co-founder of LinkedIn and partner … Continue reading “Aurora, Led by Google and Tesla Driverless Car Vets, Lands $90M”
San Antonio Tech Seizing the Momentum: The Photos
San Antonio—It hasn’t been easy for San Antonio to stand out among tech capitals like San Francisco, New York, Boston, or even Austin, its smaller neighbor to the north. For years, the Alamo city has had deep expertise in areas such cybersecurity, cloud computing, healthcare, and energy—but getting national recognition for that work has been … Continue reading “San Antonio Tech Seizing the Momentum: The Photos”
Ten Fast Facts About Dropbox as It Seeks an Initial Public Offering
Dropbox is finally ready to enter the public market. The San Francisco-based file sharing and cloud storage company plans to raise up to $500 million in an initial public offering, according to paperwork filed with the SEC last week, after years of speculation that it might do so. Founded by two MIT students in 2007, … Continue reading “Ten Fast Facts About Dropbox as It Seeks an Initial Public Offering”
Evestra Snags DoD Grant For Experimental Breast Cancer Drug Research
San Antonio—A small Texas biotech that develops women’s health products, including a generic birth control ring, has received a $960,000 grant from the Department of Defense to continue early stage work on experimental treatments for triple-negative breast cancer. Evestra, which is located just outside of San Antonio, in Schertz, TX, plans to use the three-year … Continue reading “Evestra Snags DoD Grant For Experimental Breast Cancer Drug Research”
Texas Grocer H-E-B Buys Delivery App Favor in Bid for Tech Growth
San Antonio—H-E-B, the retail and grocery store giant that operates 400 stores in Texas and Mexico, is acquiring delivery app Favor. Favor, which connects people with on-demand “runners” who deliver groceries, food, and more to customers, will become a wholly owned subsidiary of H-E-B, which is headquartered in San Antonio and is the largest private … Continue reading “Texas Grocer H-E-B Buys Delivery App Favor in Bid for Tech Growth”
Don’t Miss “San Antonio Tech: Seizing the Momentum” on Feb. 20
San Antonio—There’s a rustling of change in San Antonio. In a city often most associated with the Alamo, the River Walk, and the Spurs, a tech ecosystem has been taking shape and shifting the city’s business culture. A surging startup community, a group of blossoming sectors, and a rush of capital are stimulating San Antonio’s … Continue reading “Don’t Miss “San Antonio Tech: Seizing the Momentum” on Feb. 20″
Carbonite Buys Data Backup Competitor Mozy From Dell for $145.8M
Carbonite has agreed to buy competing online data backup service Mozy from Dell Technologies for $145.8 million, according to an announcement about the company’s 2017 financial results. Carbonite said the deal expands its customer base and the number of market segments to which it can sell. Boston-based Carbonite has been acquiring or planning to buy … Continue reading “Carbonite Buys Data Backup Competitor Mozy From Dell for $145.8M”
UT Health San Antonio Awards $200K to Fill Early Stage Funding Gaps
San Antonio — [Corrected 2/14/18, 10:45 a.m. See below.] Money is one of the primary hurdles for innovators and entrepreneurs hoping to turn an idea into a product—particularly in the life sciences, where a drug or device can easily fail despite millions spent on research. The University of Texas Health Science Center at San Antonio has … Continue reading “UT Health San Antonio Awards $200K to Fill Early Stage Funding Gaps”
Cybersecurity Startup Infocyte Lands $5.2M, Hires Dell GM as CEO
San Antonio—Internet cybersecurity startup Infocyte has added a $5.2 million Series B round of funding to build out sales of its flagship product, and has hired a new CEO. Curtis Hutcheson, the former general manager of Dell’s software businesses focused on security, is taking the helm at San Antonio-based Infocyte, which sells software that automates … Continue reading “Cybersecurity Startup Infocyte Lands $5.2M, Hires Dell GM as CEO”
Rep. Jared Polis Asks Congress to Disclose Cryptocurrency Holdings
Members of Congress are required to disclose many details about their personal finances. Jared Polis, a Democratic U.S. Representative from Colorado—and a successful Internet entrepreneur—contends that elected representatives and certain staffers should also be required to disclose cryptocurrencies like Bitcoin and Ethereum, even though that’s not necessarily happening now. Polis wants it to become a … Continue reading “Rep. Jared Polis Asks Congress to Disclose Cryptocurrency Holdings”
As Rackspace Battled and Befriended Amazon, San Antonio Tech Matured
San Antonio—The Alamo city has never received much credit for its work in technology. One local executive likes to say that San Antonio works on the plumbing of the Internet. Compared to Austin, a renowned tech capital about 90 miles to the north of San Antonio, that description seems pretty accurate. Austin holds hip tech … Continue reading “As Rackspace Battled and Befriended Amazon, San Antonio Tech Matured”
Gaming, Staffing, and Diversity: Techstars Picks 2018 Class for Seattle
Diversity has been a thorny problem for the tech industry—specifically its lack of minority and women-led businesses. Techstars has made a point of the issue, and promised over the last few years to try to make diversity a priority as it selects companies for its various accelerator programs. Seattle’s Techstars program announced some progress this … Continue reading “Gaming, Staffing, and Diversity: Techstars Picks 2018 Class for Seattle”
Free Coffee, Workshops, and … Money? Geekdom Begins Offering Grants
San Antonio—Geekdom, the six-year-old co-working space in downtown San Antonio, has added a new perk to the free coffee, workshops, and mentorship opportunities it offers its more than 1,700 members: a chance at winning a $10,000 grant each month. The grant money will come directly from Geekdom, which is calling the program The Community Fund. … Continue reading “Free Coffee, Workshops, and … Money? Geekdom Begins Offering Grants”
Dell Reportedly Mulling a VMware Reverse Merger: What Could It Mean?
Austin—Dell may be considering a reverse merger with VMware. Why? Dell has a load of debt and a group of private owners that bought the business off of the public markets in 2013, who may now be ready to get a return on their investment. News organizations reported during the last week that the Round … Continue reading “Dell Reportedly Mulling a VMware Reverse Merger: What Could It Mean?”
Graham Weston on “Seizing the Momentum” Feb. 20: Here’s the Agenda
It has happened slowly, but surely: San Antonio, not just Austin, is gathering buzz as an attractive city in Texas for startup tech entrepreneurs. On Feb. 20, Xconomy is gathering an elite group of the Alamo City’s technology and business leaders to discuss the ways San Antonio has established itself as a tech capital, as … Continue reading “Graham Weston on “Seizing the Momentum” Feb. 20: Here’s the Agenda”
GoDaddy Picks Up Online Marketing Business Main Street Hub for $125M
Austin—Website hosting company GoDaddy is paying $125 million to acquire Austin online marketing business Main Street Hub, giving the hosting company an inside line to the world of social media. Main Street Hub hires “branding experts”—people it describes as photographers, writers, designers, and marketers—to manage social media networks for small businesses. They create content and … Continue reading “GoDaddy Picks Up Online Marketing Business Main Street Hub for $125M”
Amazon Go Reviews: Praise for Shopping Speed, Caution Around Privacy
Whole Foods has always been on the bleeding edge of improving the efficiency of the grocery store checkout. The New York Times praised the chain a decade ago for its single-line strategy, which other retailers copied. Other trade publications have noted unique tactics Whole Foods uses in its busiest stores, like the color-coded system at … Continue reading “Amazon Go Reviews: Praise for Shopping Speed, Caution Around Privacy”
Absences, Surprises in Amazon’s Final List of 20 Cities for HQ2
And then there were 20. Amazon has winnowed down the field of 238 submissions from communities around North America vying to host a second headquarters (HQ2) of the Seattle-based tech giant. Most large cities with existing or emerging tech hubs appear on the list, from Austin, TX, and Boston, MA, to Washington, DC, and Toronto, … Continue reading “Absences, Surprises in Amazon’s Final List of 20 Cities for HQ2”
Bluegrass Vascular Opens U.S. Clinical Trial for Obstructed Veins
San Antonio—Bluegrass Vascular Technologies has started to enroll patients in a U.S. clinical trial for its catheter system for regaining access to obstructed veins. Bluegrass says it eventually will study 30 patients at 10 research centers across the U.S. in the next year, including St. Joseph Hospital in Orange, CA, and Houston Methodist Hospital in … Continue reading “Bluegrass Vascular Opens U.S. Clinical Trial for Obstructed Veins”
Austin Accelerator Sputnik ATX Picks Four Startups for First Class
Austin—Sputnik ATX has selected four startups to join its first accelerator class in Austin, only a few months after the city’s newest accelerator program opened its doors. Sputnik says it received 207 applications from startups in 10 states and 9 different countries, and narrowed the pool down to four less than a month after its … Continue reading “Austin Accelerator Sputnik ATX Picks Four Startups for First Class”
VelocityTX Turns to Chile to Bolster San Antonio’s Startup Scene
San Antonio—Four new businesses from Chile will be opening up shop in San Antonio in late 2018, joining a program run by the emerging technology startup center, VelocityTX. VelocityTX, a resource center for entrepreneurs and startups that’s also trying to attract more businesses to San Antonio, is planning to bring four companies from a group … Continue reading “VelocityTX Turns to Chile to Bolster San Antonio’s Startup Scene”
Gedeon Richter Takes Stake in Women’s Health Drug Maker Evestra
San Antonio—Evestra, a San Antonio life science company that develops women’s health products, has a new shareholder: pharmaceutical firm Gedeon Richter, a long-time partner based in Budapest, Hungary. Gedeon, which recorded revenue of 1.25 billion euro ($1.32 billion) in 2016, has had a licensing partnership with Evestra for about six years. In 2015, Gedeon provided … Continue reading “Gedeon Richter Takes Stake in Women’s Health Drug Maker Evestra”
Robot, Hand Me a Scalpel! Diligent Robotics Adds $2.1M to Aid Nurses
Austin—Diligent Robotics is developing what it says is a new type of interactive robot that uses machine-learning algorithms to aid hospital workers with some of their busywork. The Austin, TX-based company, which was co-founded in 2016 by a University of Texas at Austin researcher and her industry-veteran graduate assistant, announced today it has raised $2.1 … Continue reading “Robot, Hand Me a Scalpel! Diligent Robotics Adds $2.1M to Aid Nurses”
WP Engine Gets $250M From Silver Lake as PE’s Hunger For Tech Grows
Austin—WP Engine, a seven-year-old company that hosts and manages WordPress websites for businesses, is taking a $250 million investment from private equity giant Silver Lake Partners. WP Engine says it helps some 75,000 businesses around the world build and operate their websites on WordPress, working with customers on anything from technical issues when building pages … Continue reading “WP Engine Gets $250M From Silver Lake as PE’s Hunger For Tech Grows”
CertaDose, Preparing to Sell First Product, Adds $5M and J&J Grant
San Antonio — CertaDose, a medical device maker with a syringe that is meant to cut down errors when giving doses of drugs to children, has raised about $5 million in early stage funding and hopes to begin selling its first product this year. CertaDose also announced in December a grant from Johnson & Johnson Innovation, … Continue reading “CertaDose, Preparing to Sell First Product, Adds $5M and J&J Grant”
New Cybersecurity Nonprofit SAMSOC Aims to Draw Business to San Antonio
San Antonio—Small and large businesses alike are facing an increasingly risky cyber world, from the WannaCry ransomware attacks to the large-scale data thefts that hit Sony, Target, and many others in recent years. Three San Antonio executives are developing a nonprofit they hope will help bring some of that work to the growing number of … Continue reading “New Cybersecurity Nonprofit SAMSOC Aims to Draw Business to San Antonio”
Chasing Amazon: Target Buys Shipt, Techstars Teams Up With Rakuten
Corporate America’s acquisition game in online retail and e-commerce is continuing, this time with Target buying Birmingham, AL-based startup Shipt for $550 million. The deal may not make the same sweeping waves as Amazon’s $13.7 billion acquisition of Austin, TX-based Whole Foods, but Shipt appears to have been waiting for a suitor since Seattle-based Amazon … Continue reading “Chasing Amazon: Target Buys Shipt, Techstars Teams Up With Rakuten”
Angel Investor Network in San Antonio Renames Itself Alamo Angels
San Antonio—Alamo Angels: It’s the new name of the San Antonio Angel Network, the group that started last year in its namesake city last year to invest in technology and life science startups. The group, which now has 106 members, formed in San Antonio after many people had talked about starting a network but didn’t … Continue reading “Angel Investor Network in San Antonio Renames Itself Alamo Angels”
Register for “San Antonio Tech—Seizing the Momentum” on February 20
San Antonio—In a state like Texas, where every major city has its own horde of tech startups, it can be hard to make your digital mark. That has been more true in San Antonio than anywhere else in the Lone Star State, as the city has been trying—and increasingly succeeding in its efforts—to show the … Continue reading “Register for “San Antonio Tech—Seizing the Momentum” on February 20”
Diabetes, Infectious Diseases Early Focus of San Antonio Biomed Plan
San Antonio — [Updated 12/14/17, 11:54 p.m. See below.] A study commissioned by a San Antonio bioscience advocacy group and local economic development officials is calling for the city to place additional focus on initiatives that recruit high-profile biotech executives to the Alamo City, bring in more young researchers, and further develop the healthcare IT industry. … Continue reading “Diabetes, Infectious Diseases Early Focus of San Antonio Biomed Plan”
Newest Austin Startup Accelerator Sputnik Plans January First Class
Austin—[Corrected 9:56 a.m. See below.] There’s no shortage of startup accelerators in Austin, with stalwarts like Capital Factory, Techstars, and the Austin Technology Incubator often getting the most attention. To be fair, there’s no shortage of early stage startups, either, which may be part of the reason more accelerator programs have launched in the city … Continue reading “Newest Austin Startup Accelerator Sputnik Plans January First Class”
GenXComm’s Spectrum Boosting Tech Lands $7M Led by Intel Capital
Austin—[Updated 2:13 p.m. See below.] Intel Capital is leading a $7 million Series A round of funding for Austin, TX-based GenXComm, a startup developing wireless technology that reduces interference in transmitters of 5G mobile, Wi-Fi, and cable networks data. By reducing that interference, GenXComm says more data can flow back and forth over the limited … Continue reading “GenXComm’s Spectrum Boosting Tech Lands $7M Led by Intel Capital”
Apple Confirms Acquisition of Early Music-Tech Startup Shazam
As a tech startup that uses an algorithm to help people find out what song is playing on the radio, Shazam is a business its co-founders say was ahead of its time in 2000—so much so that they developed the technology after they already started raising money and finding office space. It was even ahead … Continue reading “Apple Confirms Acquisition of Early Music-Tech Startup Shazam”
StemBioSys Continues Expanding Distribution, Adding Western Europe
San Antonio — StemBioSys, a life sciences company with a system for growing stem cells, has made a deal to have its products distributed in the United Kingdom and Western Europe. The deal is with Caltag Medsystems, a life science distributor that already sells similar products in those markets, according to StemBioSys CEO Bob Hutchens. The … Continue reading “StemBioSys Continues Expanding Distribution, Adding Western Europe”
Report: Sexual Harassment Claims Hit OrbiMed Founder Sam Isaly
Healthcare investment giant OrbiMed Advisors has been described as a workplace enveloped in a toxic culture of sexual harassment, according to an investigation by Stat released late Tuesday. OrbiMed managing partner and co-founder Samuel Isaly is the main perpetrator of frequent and targeted harassment, according to allegations leveled in Stat’s interviews with five former employees, … Continue reading “Report: Sexual Harassment Claims Hit OrbiMed Founder Sam Isaly”
Ambiq Micro Plans to Expand IoT Uses of Energy-Saving Microprocessor
Austin—Seven years ago, Scott Hanson was a student at University of Michigan who was hoping to raise a few hundred thousand dollars for Ambiq Micro, his fledgling startup that aimed to make low-powered microcontrollers. Today, Ambiq is headquartered in Austin, TX, has raised tens of millions in venture capital, and sells its energy-efficient chips to … Continue reading “Ambiq Micro Plans to Expand IoT Uses of Energy-Saving Microprocessor”
Jungle Disk Buys Canadian Data Backup Service for QuickBooks Online
San Antonio—Data backup company Jungle Disk has acquired an online data backup service for users of QuickBooks Online—a move toward offering backup support for more software-as-a-service (Saas) products. Jungle Disk already sells small businesses an encrypted file backup service for laptops, desktops, servers—any type of device where Jungle Disk’s product can mount and access a … Continue reading “Jungle Disk Buys Canadian Data Backup Service for QuickBooks Online”
Rising Social Entrepreneur Helps Two San Antonio Startups Take Root
San Antonio—Stumping for a political candidate can be a mixed bag. For every friendly conversation, you’ll get at least one that’s filled with complaints—about the government, about potholes, about neighbors, about anything. That’s something Alberto Altamirano discovered when he was organizing for a county government candidate in Austin, TX, during a 2014 election. It’s not … Continue reading “Rising Social Entrepreneur Helps Two San Antonio Startups Take Root”
As GM Gets Self-Driving Buzz, Autonomous Vehicles Navigate Niches
We still live in the early days of autonomous vehicles. We’re toddlers, technologically speaking, and our algorithms are still learning to walk, er, drive. That’s the impression you get from reading the various recaps of an autonomous car test run that General Motors hosted for journalists this week in San Francisco. Wired’s Aarian Marshall noted … Continue reading “As GM Gets Self-Driving Buzz, Autonomous Vehicles Navigate Niches”
Medicines Co. Sells Infectious Disease Drugs, Focusing on PCSK9
The Medicines Co. has sold a group of three infectious disease drugs to Melinta Therapeutics for $215 million in cash and $55 million in stock, as well as future royalty payments on the three drugs, which are already on the market. The deal is an effort by Parsippany, NJ-based Medicines Co. (NASDAQ: [[ticker:MDCO]]) to get … Continue reading “Medicines Co. Sells Infectious Disease Drugs, Focusing on PCSK9”
Prognos Adds $20.5M for A.I. That Aims to Diagnose Diseases Earlier
This year, money has been funneling into companies that apply artificial intelligence to healthcare, from diagnostics to speech recognition software. The latest recipient is New York-based Prognos, which says it just closed a $20.5 million Series C round from a group of prominent insurers, drug makers, and venture capital investors. Prognos’s A.I.-related software aims to … Continue reading “Prognos Adds $20.5M for A.I. That Aims to Diagnose Diseases Earlier”
Cardiovate Adds $650K for Device Aiming to Replace Clogged Arteries
San Antonio — Medical device maker Cardiovate has closed a $1 million seed round of funding from an existing group of investors to help it begin a year-long animal study on a scaffold that the company believes can regenerate vascular tissue—which is especially useful for repairing blocked arteries. Founded in 2012 by a student and … Continue reading “Cardiovate Adds $650K for Device Aiming to Replace Clogged Arteries”
SendGrid Goes Public for $131M in First Techstars Accelerator IPO
Something rare happened this morning: A company that has gone through an accelerator program, SendGrid, has hit the public markets. SendGrid raised $131 million by selling 8.2 million shares for $16 apiece, according to research firm Renaissance Capital. Both figures were higher than expected for the Denver, CO-based company, which is now trading on the … Continue reading “SendGrid Goes Public for $131M in First Techstars Accelerator IPO”