Yesterday, I participated in a very exciting event that culminated with the announcement by Massachusetts Governor Deval Patrick of an important funding program—a $1 million annual business plan competition called MassChallenge. The essence of this announcement is to match the next generation of young aspiring entrepreneurs with numerous sources of capital, most likely local venture … Continue reading “12 By 12 By 12 By 12 By 12”
Category: Boston
Canditto—A Wedding Crasher That Shares The Love
Four years ago, Rush Hambleton and his wife left their wedding reception on a restored 1962 Vespa motor scooter. The professional photographer missed it. But luckily, an aunt just happened to catch the shot on her digital camera, and eventually sent the couple a print. The Vespa image, Hambleton says, was “the” shot of the … Continue reading “Canditto—A Wedding Crasher That Shares The Love”
Twitter’s Growth May Be Illusory, Says HubSpot Report
“Tweet, tweet,” chirped the robin outside my window yesterday. Given the Wall Street Journal’s report last month that 32.1 million people now have Twitter accounts, it seems like much of humanity is poised to join the robin and his avian cohorts in tweeting. Not everyone who has a Twitter account is using it though, according … Continue reading “Twitter’s Growth May Be Illusory, Says HubSpot Report”
Governor Patrick Announces $1 Million Business Plan Competition to Draw Startups to Massachusetts
Massachusetts Governor Deval Patrick today announced the creation of a $1 million annual business plan competition designed to attract more high-growth startups to the state. The competition, which will get underway next year, will be modeled on similar contests at MIT and other universities, but will be open to all teams of entrepreneurs willing to … Continue reading “Governor Patrick Announces $1 Million Business Plan Competition to Draw Startups to Massachusetts”
Digital TV Conversion Clears Way for Qualcomm’s Flo TV Expansion to Boston, Other Markets
Qualcomm’s delayed plan to substantially expand the scope of its Flo TV service should finally take effect tomorrow, once television broadcasters in 39 markets turn off their analog transmitters and switch to digital TV broadcasts. Tomorrow’s planned DTV transition will free broadband spectrum on what was UHF Channel 55 that will be used by Flo … Continue reading “Digital TV Conversion Clears Way for Qualcomm’s Flo TV Expansion to Boston, Other Markets”
New Owner Laying Off a Quarter of Indevus Pharma Employees
For some former employees of Indevus Pharmaceuticals, it’s not such great news that the Lexington, MA, drug developer was acquired by Endo Pharmaceuticals. Chadds Ford, PA-based Endo (NASDAQ:[[ticker:ENDP]]), which completed its $370 million buyout of Indevus in March, is in the process of laying off a quarter of Indevus employees and moving research programs out … Continue reading “New Owner Laying Off a Quarter of Indevus Pharma Employees”
Northern Power Systems Aims for Large-Scale Wind Turbine Market, Taking on Industry Giants
Northern Power Systems is a busy company these days. The Barre, VT-based firm is expanding its business of designing and making medium-sized wind turbines to include the production of larger, utility-scale systems. Competition in the utility-scale market is fierce, but Northern Power has developed wind-turbine technology that its leadership believes will enable the firm to … Continue reading “Northern Power Systems Aims for Large-Scale Wind Turbine Market, Taking on Industry Giants”
Icahn Bags Two Biogen Board Seats, Pharma Giants Add $40M to Aileron Coffers, Pulmatrix Proceeds With Tests of Flu-Blocking Aerosol, & More Boston-Area Life Sciences News
Ryan and Luke profiled some extremely interesting companies this week. More on those, and the rest of the week’s New England life sciences news, below. —Billionaire investor Carl Icahn succeeded—at least partially—in his attempt to gain representation on the board of Cambridge, MA-based Biogen Idec (NASDAQ: [[ticker:BIIB]]). Roxanne reported live from the highly contentious annual … Continue reading “Icahn Bags Two Biogen Board Seats, Pharma Giants Add $40M to Aileron Coffers, Pulmatrix Proceeds With Tests of Flu-Blocking Aerosol, & More Boston-Area Life Sciences News”
Survey Shows VCs Expect Huge Shifts in Fundraising, Global Investing
We keep hearing there’s no better opportunity to start a company than during hard times, but a survey of venture capitalists shows that doesn’t necessarily translate into increased investment activity. In fact, results of a survey of VCs around the world being released today show that just over half (51 percent) of 725 VCs who … Continue reading “Survey Shows VCs Expect Huge Shifts in Fundraising, Global Investing”
State Set to Make Big, “Green” High Performance Computing Announcement: Effort to Bring Jobs to Western MA
Updated with additional detail June 9, 8:10 pm; further update and a correction added June 10, 7:15 am—see below A university, industry, and Massachusetts government coalition is set to announce a major initiative in high performance computing later this week, Xconomy has learned. Official sources are guarded, and specifics were hard to come by tonight. … Continue reading “State Set to Make Big, “Green” High Performance Computing Announcement: Effort to Bring Jobs to Western MA”
Biogen Idec Confirms Second Icahn Pick Elected to Board of Directors
Carl Icahn has landed a one-two punch on Biogen Idec. Today, the Cambridge, MA-based biotech confirmed what the activist investor had proclaimed last week—that two members of Icahn’s board slate have been elected to Biogen’s board of directors. This afternoon, the company acknowledged that Richard Mulligan, a professor of genetics at Harvard Medical School and … Continue reading “Biogen Idec Confirms Second Icahn Pick Elected to Board of Directors”
Drastic Cuts at Dataupia—Company Lays Off Majority of Staff While Hunting for New Investors
Cambridge, MA-based data warehousing appliance maker Dataupia has laid off nearly two-thirds of its staff and scaled back its operations while it seeks new funders, Xconomy has learned. We contacted Dataupia today after hearing a rumor that the four-year-old startup had shut down—a rumor that turns out to be exaggerated but not wholly unfounded. “Dataupia … Continue reading “Drastic Cuts at Dataupia—Company Lays Off Majority of Staff While Hunting for New Investors”
Gather Nets $5.3 M
Gather, a Boston-headquartered social networking site aimed at users over 30, announced today that it has raised $5.3 million in equity financing. Major investors in the round include Allen & Company, American Public Media, Jim Manzi (former CEO of the Lotus Development Corporation), Jack Connors (former CEO of Hill Holiday), Kevin McClatchy, Andrew Tobias, and … Continue reading “Gather Nets $5.3 M”
Ahmet Ozalp New CEO at Telenity
Ahmet Ozalp, a former partner at Atlas Venture in Waltham, MA, has joined communications software and services firm Telenity as its CEO, according to a press release. At Atlas, Ozlap led investments in technology firms such as ExtendMedia, a Newton, MA-based provider of software for managing digital content, and MyVu, a Westwood, MA, a developer … Continue reading “Ahmet Ozalp New CEO at Telenity”
Vermont Utility Signs with EnerNOC
Green Mountain Power—the Colchester, VT-based electrical utility that serves approximately one-quarter of Vermont residents—said today that it has joined the New England demand-response pool managed by Boston-based EnerNOC (NASDAQ: [[ticker:ENOC]]). Green Mountain customers who are already registered through the utility to receive payments or rate reductions in return for a commitment to roll back electrical … Continue reading “Vermont Utility Signs with EnerNOC”
Taris Biomedical Gives Glimpse of Drug-Delivery Tech, Discloses $15M Series A
We’ve heard talk since the middle of last year that MIT inventors Michael Cima and Bob Langer had again united with top venture capitalists in the Boston area to launch a life sciences startup. But the founders of the startup have tried to keep lid on their activities—until today. Taris Biomedical, formerly known as Certus … Continue reading “Taris Biomedical Gives Glimpse of Drug-Delivery Tech, Discloses $15M Series A”
Living Proof Picks Allurent Software
Living Proof, a Cambridge, MA-based startup that applies advanced material science to the beauty industry, has adopted interactive online shopping software developed by fellow venture-backed Cambridge firm Allurent, according to a press release. Living Proof, which has been well chronicled for its products that combat frizzy hair, will use Allurent’s software and widgets to provide … Continue reading “Living Proof Picks Allurent Software”
Next 10 to Sign Up for XSITE 2009 are Eligible to Win a Garmin GPS System—So Hurry Up and Navigate to the Registration Site
We just got another great prize to give out to one lucky attendee of our upcoming XSITE 2009 event: a Garmin Nuvi 310 GPS unit, courtesy of the generous souls at the MIT Sloan CIO Symposium. Only the next 10 folks to buy tickets for XSITE—the Xconomy Summit on Innovation, Technology, and Entrepreneurship—will be eligible … Continue reading “Next 10 to Sign Up for XSITE 2009 are Eligible to Win a Garmin GPS System—So Hurry Up and Navigate to the Registration Site”
EMC Appeals to DDUP Employees
In an effort to increase the pressure on the board of Data Domain (NASDAQ: [[ticker:DDUP]]) to accept EMC’s $30 per share acquisition offer and reject NetApp’s (NASDAQ: [[ticker:NTAP]]) competing offer, EMC CEO Joseph Tucci issued an open letter to Data Domain employees today. Under EMC (NYSE: [[ticker:EMC]]), Data Domain employees would have “a great and … Continue reading “EMC Appeals to DDUP Employees”
Where Innovation Happens—A Still-Forming Map of Boston’s Growing Tech Lab Cluster
Where does technological innovation happen around Boston? What are the sources of new software and hardware creations? You’ve probably heard about Google and Microsoft moving to Cambridge in the past couple of years—but did you know Microsoft has two labs in Cambridge, not one? Or that another Silicon Valley company has a research lab just … Continue reading “Where Innovation Happens—A Still-Forming Map of Boston’s Growing Tech Lab Cluster”
Pulmatrix, With One Drug for Multiple Bugs, Aims to Fundamentally Change Flu Treatment
Back in September, I wrote in this space that if a global flu pandemic ever strikes, public health officials might turn to a Lexington, MA-based startup company called Pulmatrix. The pandemic (a bit overblown, I must say) did strike. And yes, the public health officials have been calling Pulmatrix. This company’s technology is nowhere near … Continue reading “Pulmatrix, With One Drug for Multiple Bugs, Aims to Fundamentally Change Flu Treatment”
Gather.com Garners $5,300,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=cf4e90d2-a67a-4457-ae80-360e1b6573ec&Preview=1 Date 6/9/2009 Company Name Gather.com Mailing Address 99 Summer Street, 7th Floor Boston, MA 02110 Company Description Gather will make money by displaying advertising to people who use Gather’s services. It just seems fair that we share our advertising revenue with you based on the quality and popularity of the content … Continue reading “Gather.com Garners $5,300,000 New Round”
Continuity Engine Inc Secures $1,500,000 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=59b4fd62-b8e9-4b0e-ad07-4ec2577af7f1&Preview=1 Date 6/9/2009 Company Name Continuity Engine Inc Mailing Address 73 Hannah Lane Monroe, CT 06468 Company Description Software applications exist to help businesses with their big problems; like financial management, sales force automation and inventory. But in most businesses there are those other processes, the information that frequently falls between the … Continue reading “Continuity Engine Inc Secures $1,500,000 New Funding”
Oil Purification Systems Lands $2,500,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=346fdab8-872d-4c37-babb-217734a3fef9&Preview=1 Date 6/9/2009 Company Name Oil Purification Systems Mailing Address 4 Research Drive Shelton, CT 06484 Company Description Oil Purification Systems, Inc. (OPS) is the developer of the OPS-1, a patented onboard oil refining system that streamlines oil maintenance routines for large vehicles and industrial equipment. Website http://www.oilpursys.com Transaction Type Venture Equity … Continue reading “Oil Purification Systems Lands $2,500,000 New Financing Round”
ULocate Launches Where on Palm Pre
Most eyes in the mobile industry are on San Francisco today, where Apple unveiled the latest version of its smart phone platform, the $199 iPhone 3GS, at its Worldwide Developer Conference. But that hasn’t diminished the buzz around Palm’s newest phone, the $200 Palm Pre, which hit stores on Saturday and has already sold at … Continue reading “ULocate Launches Where on Palm Pre”
GamerDNA Launches Twitter Tool
At the E3 gaming expo in Los Angeles last week, Cambridge, MA-based GamerDNA, an online community for hard-core video gamers, launched a new service called TweetMyGaming. The site shows a real-time stream of all Twitter messages mentioning video game titles. The idea, as with GamerDNA’s other services, is to help gamers see which games are … Continue reading “GamerDNA Launches Twitter Tool”
GenArts Inks Major Visual Effects Software Deal with Lucasfilm
If you’re watching a movie, a commercial, or a TV sports promo and you see a special effect with an especially stunning glow, glint, flash, flare, light ray, starburst, sparkle, explosion, or atmospheric wave, there’s a good chance it was created using software from Cambridge, MA-based GenArts. The venture-backed startup, launched in 1996 by MIT … Continue reading “GenArts Inks Major Visual Effects Software Deal with Lucasfilm”
Aileron Snags $40M From Quartet of Pharma Giants to Develop New Class of Drugs
The biotech world will be buzzing today about something called “stapled peptides.” That’s because Cambridge, MA-based Aileron Therapeutics, a pioneering developer of this new class of drugs, has secured $40 million in venture capital from an ensemble cast of investors that includes four of the world’s biggest drugmakers. Aileron’s latest investment round was led by … Continue reading “Aileron Snags $40M From Quartet of Pharma Giants to Develop New Class of Drugs”
EMD Serono Staging Battle Against Multiple Sclerosis in Boston, Chief Says
If you don’t already count EMD Serono among the leaders in research of multiple sclerosis treatments in the Boston area, perhaps you haven’t talked to EMD chief executive Fereydoun Firouz. For EMD Serono—the U.S. affiliate of German chemical and drug powerhouse Merck KGaA and its Swiss biotech unit Merck Serono— the Boston area is home … Continue reading “EMD Serono Staging Battle Against Multiple Sclerosis in Boston, Chief Says”
Aileron Therapeutics, Inc Garners $40,000,000 Series D Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8236efec-9d9d-45f4-9e7c-93dfda02f1dc&Preview=1 Date 6/8/2009 Company Name Aileron Therapeutics, Inc Mailing Address 840 Memorial Drive, 2nd Floor Cambridge, MA 02139 Company Description Aileron Therapeutics is an emerging biopharmaceutical company that is applying its proprietary cell permeable peptide technology to generate breakthrough therapeutics for the treatment of cancer and other diseases. Aileron’s technology is the … Continue reading “Aileron Therapeutics, Inc Garners $40,000,000 Series D Round”
Data Domain Dallies with EMC
On Wednesday the board of Santa Clara, CA-based data deduplication company Data Domain (NASDAQ: [[ticker:DDUP]]) voted to accept NetApp’s (NASDAQ: [[ticker:NTAP]]) sweetened $1.9 billion acquisition offer, which had come in response to a $1.8 billion offer earlier this week from Hopkinton, MA-based EMC (NYSE: [[ticker:EMC]]). But yesterday Data Domain said its board is “reviewing EMC’s … Continue reading “Data Domain Dallies with EMC”
Seventh Sense Biosystems Developing Tech Akin to Check-Engine Light for the Body
Imagine if we could monitor complex health conditions with a decal on our skin as easily as we look at our check-engine lights to learn of car trouble. Seventh Sense Biosystems, a secretive startup based in Cambridge, MA, tells Xconomy that its technology could transform this vision into reality. It was reported in December that … Continue reading “Seventh Sense Biosystems Developing Tech Akin to Check-Engine Light for the Body”
E Ink Scooped up by Taiwanese Display Maker, EMC Battles NetApp For Data Domain, Polatis Picks Up $8M, & More Boston-Area Deals News
The B word (billion) cropped up in not one but two deals in this week’s New England tech and life sciences news. —Cambridge, MA-based E Ink agreed to be acquired for $215 million by Taiwan-based display manufacturer Prime View International. The Taiwanese firm was already a partner of E Ink’s on the manufacture of its … Continue reading “E Ink Scooped up by Taiwanese Display Maker, EMC Battles NetApp For Data Domain, Polatis Picks Up $8M, & More Boston-Area Deals News”
Are You a Victim of On Demand Disorder?
If this column has a repeating theme, it’s the amazing new capabilities we’re all gaining as a result of the digital media explosion. Yet like all revolutions, this one is destroying old values, attitudes, and behaviors even as it creates new ones. I would never trade the Web, mobile computing, and the instant access to … Continue reading “Are You a Victim of On Demand Disorder?”
Noble Environmental Power Pulls IPO
Noble Environmental Power, an Essex, CT-based wind energy company, has withdrawn its planned for an IPO. The offering, initially filed in May 2008, was to include some 23.4 million shares worth up to $375 million. In its filing today, Noble said withdrawing the offering “is consistent with the public interest and protection of investors.” The … Continue reading “Noble Environmental Power Pulls IPO”
Exclusive: Icahn’s Picks For Biogen Idec Board on Why They Think They Won 2 Seats, Who’s Likely Out, and Plans for the Future
(Updated with Biogen Idec announcement of preliminary results, 3:18 pm, June 4—see below) When last we left the cliffhanger that was yesterday’s Biogen Idec (NASDAQ: [[ticker:BIIB]]) annual meeting: the forces of billionaire investor Carl Icahn claimed they had won two of four director seats up for election. The New York Times was reporting Icahn had … Continue reading “Exclusive: Icahn’s Picks For Biogen Idec Board on Why They Think They Won 2 Seats, Who’s Likely Out, and Plans for the Future”
Hangout Adds $4M to Series A Round
Boston-based Hangout Industries, which runs the teen social virtual world Hangout.net, has extended its Series A financing round by $4 million, CEO Pano Anthos confirmed today after documents on the financing surfaced online yesterday. Highland Capital Partners and Polaris Venture Partners put up the funds, which bring the company’s total financing to $10 million, including … Continue reading “Hangout Adds $4M to Series A Round”
Green Innovation for Business Unconference
The Environmental Defense Fund and Ashoka sponsor an “unconference” for professionals who want to help their companies adopt environmentally sustainable practices. From the event registration site: “Are you driving environmental innovation within your company? * Do you have ideas for operating more efficiently? * Are you exploring “greener” products or services? * Are you looking … Continue reading “Green Innovation for Business Unconference”
Life Image Captures $2.5M Series A, Working with EMC for Digital Medical Image Service
Life Image was launched in January 2008 with core software developed at Boston’s Massachusetts General Hospital. Now the Newton, MA-based startup is charging ahead with cash from a $2.5 million Series A round of equity financing closed quietly in April, aiming to close gaps in the way digital medical images are shared and stored, company … Continue reading “Life Image Captures $2.5M Series A, Working with EMC for Digital Medical Image Service”
American Well’s UnitedHealth Coup: Perspective from CEO Roy Schoenberg
Boston-based American Well, in a one-two punch of advances announced this week, has added substance to its dream of giving consumers with health problems a way to consult with doctors over the Web and avoid more costly office visits. On Tuesday, the company said it was upgrading its Web-based “Online Care” platform to provide doctors … Continue reading “American Well’s UnitedHealth Coup: Perspective from CEO Roy Schoenberg”
Hangout Industries Receives $4,000,000 Series A Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c6f5e48c-cae8-4ba2-80c6-6473b0547bba&Preview=1 Date 6/4/2009 Company Name Hangout Industries Mailing Address 110 Chauncy Street Boston, MA 02111 Company Description Get A Room Now you can customize your own room, fully interact with friends and your favorite brands, and share media experiences in an immersive 3D environment. Hangout helps My Space become My Place and … Continue reading “Hangout Industries Receives $4,000,000 Series A Round”
Life Image, Inc Secures $2,500,000 Series A Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=7102ce42-93ad-42e4-b174-da4bb3cfc683&Preview=1 Date 6/4/2009 Company Name Life Image, Inc Mailing Address One Gateway Center Newton, MA 02458 Company Description Life Image, Inc. is a venture-backed startup company developing Web-based applications and services that help eliminate the problems associated with lack of access to patients’ medical-imaging history.The founders of the company are veterans of … Continue reading “Life Image, Inc Secures $2,500,000 Series A Financing Round”
Skyhook Evangelist Joins Twitter
Ryan Sarver, the former director of consumer products and company evangelist at Boston’s Skyhook Wireless, has been hired by San Francisco-based Twitter, according to a piece yesterday in Silicon Alley Insider. Skyhook sells a software and database system that allows Wi-Fi and hybrid Wi-Fi/GPS devices to determine their locations; Sarver’s move is seen as a … Continue reading “Skyhook Evangelist Joins Twitter”
Founder Collective Raises $30M
[[Updated: See editor’s note below.]] Founder Collective, a new seed-stage venture fund in Somerville, MA, has received total investments and commitments of $30 million from limited partner investors, Eric Paley, a general partner of the firm, told Xconomy in an e-mail. Yesterday the firm filed papers with the SEC that show that it has raised … Continue reading “Founder Collective Raises $30M”
Terrafugia Completes First Stage of Flight Testing, Releases New “Flying Car” Footage
Terrafugia, the Woburn, MA, startup whose project to commercialize a “roadable aircraft” has attracted a worldwide following, said today that it’s completed flight testing of its initial proof-of-concept vehicle and is ready to build a second, “beta” aircraft. The company also released extensive new video footage from test flights of the proof-of-concept plane by its … Continue reading “Terrafugia Completes First Stage of Flight Testing, Releases New “Flying Car” Footage”
Icahn Nominees Claim Victory on Two of Four Open Seats to Biogen Idec Board, Vote Still Not Official
[Update, 3:05 pm Eastern] Billionaire investor Carl Icahn’s representatives say they have pulled out a victory in their proxy contest with Biogen Idec, winning two of the four seats that were up for grabs in a shareholder election. The official results weren’t yet announced, as the company adjourned the annual shareholder meeting without declaring who … Continue reading “Icahn Nominees Claim Victory on Two of Four Open Seats to Biogen Idec Board, Vote Still Not Official”
NetApp Outbids EMC for DDUP
Data Domain (NASDAQ: [[ticker:DDUP]]) shareholders must be flying high this week. Today Sunnyvale, CA-based storage company NetApp (NASDAQ: [[ticker:NTAP]]) announced that it has increased its bid for Santa Clara, CA-based deduplication software provider Data Domain to some $1.9 billion in an effort to fend off EMC’s (NYSE: [[ticker:EMC]]) $1.8 billion offer, tendered Monday night. NetApp … Continue reading “NetApp Outbids EMC for DDUP”
Inside the Biogen Idec Shareholder Meeting, Tensions Flare as Icahn Accuses Company of “Hijacking” Vote
[Updated with Bloomberg comment at 12:55 pm Eastern] Tensions at the Biogen Idec annual shareholders meeting are palpable. Representatives from billionaire investor Carl Icahn have twice called for the polls to be closed—once before CEO James Mullen gave a speech, and a second time before an unscheduled recess was called at approximately 11 am. The … Continue reading “Inside the Biogen Idec Shareholder Meeting, Tensions Flare as Icahn Accuses Company of “Hijacking” Vote”
Seattle Passes Boston in High-Tech Center Ranking; San Diego at #7
Seattle, the Washington D.C. area, and Orange County have moved up in Milken Institute’s ranking of top high-tech center areas in North America. From 2003 to 2007, Seattle passed Boston and became America’s second-ranking high-tech metro area. San Diego is at seventh place. (These are Xconomy’s network cities.) The number one spot belongs to Silicon … Continue reading “Seattle Passes Boston in High-Tech Center Ranking; San Diego at #7”
Contentious Biogen Idec Meeting Delayed; Icahn Nominee Objects, Saying “This is Not North Korea”
Shareholders of Cambridge, MA-based Biogen Idec (NASDAQ: [[ticker:BIIB]]) will have to wait a while to hear the outcome of the hotly contested board election. The company’s board called a recess during the annual meeting before results were announced on whether billionaire investor Carl Icahn was able to gain any seats on the company’s 13-member board. … Continue reading “Contentious Biogen Idec Meeting Delayed; Icahn Nominee Objects, Saying “This is Not North Korea””