[Updated at 11:10 am PT] Redmond, WA-based photo software company Smilebox, which lets users turn their photos into electronic greeting cards, scrapbooks, and photo albums, or even physical printouts, is being acquired by Israeli digital media company IncrediMail (NASDAQ: [[ticker:MAIL]]) for $25 million, with the possibility of another $15 million if the acquisition hits performance … Continue reading “Smilebox Acquired by IncrediMail for $25M”
Category: National
CMEA’s Jain on San Diego’s Innovation Economy, E&Y Reports on IPO Activity, Wildcat Discovery Gets $7.5M, & More San Diego BizTech News
We saw a potpourri of tech news in San Diego last week, which included funding for an emerging cleantech startup, new technology from Tealium, and an acquisition by Qualcomm. Our briefing begins now. —CMEA Capital’s Sumeet Jain offered his perspective on what’s missing, besides capital, from the tech sector of San Diego’s innovation community. Jain, … Continue reading “CMEA’s Jain on San Diego’s Innovation Economy, E&Y Reports on IPO Activity, Wildcat Discovery Gets $7.5M, & More San Diego BizTech News”
Autodesk Buys Instructables; Design Software Giant in Consumer Marketing Push
San Rafael, CA-based Autodesk (NASDAQ: [[ticker:ADSK]]), whose 3D design, graphics, and engineering software is used by more than 10 million design professionals around the world, has just made a small but interesting purchase. It has acquired Instructables, a San Francisco-based community site for DIY enthusiasts started almost six years ago by Squid Labs co-founder Eric … Continue reading “Autodesk Buys Instructables; Design Software Giant in Consumer Marketing Push”
Progress Software Chief Richard Reidy Stepping Down; Successor To Be Named
When Progress Software CEO Richard Reidy told me in December about a “major transition” and a “whole new strategy” for the company, he wasn’t kidding. The transition, it turns out, involves himself. Bedford, MA-based Progress (NASDAQ: [[ticker:PRGS]]) announced today that Reidy will leave the company once a successor is named; a search is under way. … Continue reading “Progress Software Chief Richard Reidy Stepping Down; Successor To Be Named”
Inside WalmartLabs: How the Former Kosmix Team Plans to Help the World’s Largest Retailer Get Social and Mobile
One of the most head-scratching tech headlines of April 2011 was the news that Kosmix, a Mountain View, CA-based startup best known for building a Twitter filtering tool called TweetBeat, had been acquired by Walmart. Yes, that Walmart—the one with 9,000 big-box stores spread across the American heartland. For one thing, Walmart already has a … Continue reading “Inside WalmartLabs: How the Former Kosmix Team Plans to Help the World’s Largest Retailer Get Social and Mobile”
Lot18, Backed by NY and Silicon Valley VCs, Creates Exclusive Wine Club
Wine aficionados can be rather choosy about what they will imbibe. The casual drinker may simply pair any red wine with steak, but New York’s Lot18 wants to serve those with highly discerning tastes. Lot18 is a members-only website that sells wine and gourmet food products that are available in limited supply. Though the website … Continue reading “Lot18, Backed by NY and Silicon Valley VCs, Creates Exclusive Wine Club”
Video Startup 1Minute40Seconds Looks to Help People and Organizations Tell Engaging Stories
Blade Kotelly thinks that any Radio Shack salesman and Steve Jobs are telling the same exact story. Jobs is just better it at. That would be: “Here’s the problem, here’s the product, here’s the call to action,” he says. It all plays into Kotelly’s theory that there are the same few story lines recycled throughout … Continue reading “Video Startup 1Minute40Seconds Looks to Help People and Organizations Tell Engaging Stories”
What I Learned About Healthcare as a Patient: The Delivery System Has Got to Change
You can read all the books and news stories you want on the U.S. healthcare system, and conclude it’s profoundly messed up. But sometimes there’s nothing so enlightening as first-hand experience. I’ve been thinking about how awful U.S. healthcare is the past couple weeks, based on my latest experience as a patient. It’s made me … Continue reading “What I Learned About Healthcare as a Patient: The Delivery System Has Got to Change”
Merck Shuts Down RNAi Research Center in SF, Cutting 50 Jobs
Merck has decided to close down the RNA interference research facility it obtained through its $1.1 billion acquisition five years ago of San Francisco-based Sirna Therapeutics, the company said late today. About 50 jobs are being eliminated, while about 10 people are being offered transfers to other Merck (NYSE: [[ticker:MRK]]) facilities on the East Coast … Continue reading “Merck Shuts Down RNAi Research Center in SF, Cutting 50 Jobs”
At 2011’s Midpoint, Three Good Tech Trends and Three Not-So-Good Trends to Watch
Mid-year reports tend to be check-ins or check-ups; and they’re usually not very interesting, analytical, or helpful. The real fireworks often take place at the end of the year, when the 12-month look-back and 12-month look-ahead forecast steals the show—in terms of shedding light, providing perspective, and setting the agenda. Not so in 2011. Here … Continue reading “At 2011’s Midpoint, Three Good Tech Trends and Three Not-So-Good Trends to Watch”
How I Decide What to Write About-And Why I Might Not Cover Your Company
Dharmesh Shah, the co-founder of HubSpot and the author of the blog OnStartups, shared a post last week that really hit home. It was called “Dear Friend: Sorry: My Heart Says Yes, But My Schedule Says No.” Dharmesh explained that his e-mail inbox is perpetually overloaded with requests from people who want to meet with … Continue reading “How I Decide What to Write About-And Why I Might Not Cover Your Company”
Seattle’s pinch/zoom Designs BBC iPad Video App, Learns to Keep It Simple
Less is more. Obvious marketing messages fall flat. Users are more sophisticated than you think. Those were some of the big lessons that Seattle mobile design shop pinch/zoom took away from its latest big project: designing the new iPad video player application for the BBC, the international TV powerhouse. The new app, called iPlayer Global, … Continue reading “Seattle’s pinch/zoom Designs BBC iPad Video App, Learns to Keep It Simple”
InEnTec Raises $20M for Growth of Garbage-to-Gas Tech
Here’s something you hear far too rarely following the Great Recession: positive growth news for a Northwest cleantech company. Bend, OR-based InEnTec has raised $20 million in growth capital, as part of a round that could grow to the $70 million range. The company’s “plasma-enhanced melter” technology takes refuse—anything from common household garbage to industrial … Continue reading “InEnTec Raises $20M for Growth of Garbage-to-Gas Tech”
Biogen Gets Euro Approval, BSX Shows Solid Q2, Alkermes Tries Again, & More Boston-Area Life Sciences News
We saw several headlines surrounding clinical development by New England-area drugmakers this week. —Weston, MA-based Biogen Idec (NASDAQ: [[ticker:BIIB]]) said that it nabbed a conditional approval from the European Commission to market a long-acting version of fampridine (Fampyra) to adult patients with multiple sclerosis who have walking disability. The agency has also asked Biogen to … Continue reading “Biogen Gets Euro Approval, BSX Shows Solid Q2, Alkermes Tries Again, & More Boston-Area Life Sciences News”
Ford, TechShop Partner on Detroit Location to Help Everyday Inventors Create, Build—and Commercialize—New Technologies
At first glance, the nondescript office park at 800 Republic Drive in Allen Park, MI, is notable only for being situated next to the Detroit Lions’ practice facility. That’s set to change on Nov. 18, when the building will be transformed into TechShop Detroit, a joint project between Ford and TechShop, the DIY communal fabrication … Continue reading “Ford, TechShop Partner on Detroit Location to Help Everyday Inventors Create, Build—and Commercialize—New Technologies”
Vertex Smashes Wall Street Sales Expectations In Hepatitis C Drug Debut
Vertex Pharmaceuticals is off to a running start in the marketplace with its brand new hepatitis C drug. The Cambridge, MA-based company (NASDAQ: [[ticker:VRTX]]) said today that it generated $74.5 million in sales of telaprevir (Incivek) in the quarter that ended June 30. That’s an especially big number as far as new pharmaceutical rollouts go—Wall … Continue reading “Vertex Smashes Wall Street Sales Expectations In Hepatitis C Drug Debut”
National Science Foundation Unveils a Startup School Modeled on Steve Blank’s Lean LaunchPad
Incubator madness has reached all the way to Washington, D.C. The National Science Foundation announced today that with the help of private-sector partners, it plans to put at least $5 million per year into a new program, the Innovation Corps or I-Corps, aimed at helping university scientists and engineers build startups around their technologies. The … Continue reading “National Science Foundation Unveils a Startup School Modeled on Steve Blank’s Lean LaunchPad”
Plexxi Pulls In $20M More for Mysterious Networking Tech
Plexxi, an aggravatingly stealthy networking startup in Nashua, NH, said today it has raised a $20 million Series B equity round led by Lightspeed Venture Partners. Previous investors Matrix Partners and North Bridge Venture Partners also participated in the financing. The company has raised a little over $28 million to date. According to its sparse … Continue reading “Plexxi Pulls In $20M More for Mysterious Networking Tech”
Boston Scientific Beats Street Expectations, Buys Back Shares, and Eyes China Expansion
Today Natick, MA-based Boston Scientific (NYSE: [[ticker:BSX]]) announced second-quarter sales of $1.975 billion and earnings excluding special items of $0.17 a share, which beat analyst expectations by nearly a dime. Sales of its neuromodulation devices were up 16 percent, and the company reported sales increases in many of its product lines. It also said the … Continue reading “Boston Scientific Beats Street Expectations, Buys Back Shares, and Eyes China Expansion”
Instructables, A Mecca for Makers, Reflects Eric Wilhelm’s Passion for Building Stuff—and Telling the Story
People who work hard, the old saying goes, often play just as hard. But for many tech entrepreneurs, the converse is also true: all that play sometimes generates new ideas for work. That’s definitely the story behind San Francisco-based how-to site Instructables, which grew in part out of founder Eric Wilhelm’s obsession with kitesurfing. Wilhelm … Continue reading “Instructables, A Mecca for Makers, Reflects Eric Wilhelm’s Passion for Building Stuff—and Telling the Story”
Qrious Seeks to Crack Smartphone App Market, Capture Data on Folks You Meet at Events
Conferences and other business events offer the chance to make new professional contacts, but wading through the masses of attendees can be a nightmare. Marching around with a guest list does not make it much easier. Enter seven-month-old Qrious, a New York startup working on an app that lets smartphones sift through contacts people make … Continue reading “Qrious Seeks to Crack Smartphone App Market, Capture Data on Folks You Meet at Events”
Rich Barton & Co. Try a Location-Linked Photo-Sharing App: Trover
That dang Rich Barton is one busy dude. Fresh off the public-market debut of Zillow (NASDAQ:[[ticker:Z]]), the Seattle uber-entrepreneur (he also founded Expedia) is trying to boost the user base of another one of his ventures, the location photo-tagging startup Trover. Yes, indeed—another location/mobile/photo/social play. As we saw with yesterday’s news that Seattle’s PhotoRocket had … Continue reading “Rich Barton & Co. Try a Location-Linked Photo-Sharing App: Trover”
$25M in State Funding Will Support Entrepreneurs, Startups
The Michigan Economic Development Corporation (MEDC) announced yesterday that the Michigan Strategic Fund (MSF) has awarded $25 million to six metro Detroit organizations that will support entrepreneurs in launching and growing startup companies throughout the state. The funding comes from the state’s 21st Century Jobs fund, which is focused on the commercialization of cutting-edge technologies … Continue reading “$25M in State Funding Will Support Entrepreneurs, Startups”
Lenddo Sells Microloans in Philippines, Eyes Expansion to World’s Emerging Middle Class
As a serial tech entrepreneur, Jeffrey Stewart has spent a lot of time working with outsourcing companies in developing countries, such as the Philippines. And he was always struck by a common complaint he heard from his workers in those countries. “They couldn’t access loans,” Stewart says. So earlier this year, he and fellow entrepreneur … Continue reading “Lenddo Sells Microloans in Philippines, Eyes Expansion to World’s Emerging Middle Class”
RentPrefs, With Matchmaking Approach to Apartment Rentals, Rolls Out Beta Service
Anyone try to rent an apartment lately? (I have.) Anyone annoyed by the process—the repeated posts, the inability to sift based on preferences that actually matter, the difficulty of getting in touch with realtors? (I am.) Cambridge, MA, startup RentPrefs is making its bet that I’m not the only one. The company was founded by … Continue reading “RentPrefs, With Matchmaking Approach to Apartment Rentals, Rolls Out Beta Service”
Trius and Bayer Sign Deal, Brooks Buys Nexus Biosystems, Wildcat Discovery Gets $7.5M Financing, & More San Diego Life Sciences News
Against a backdrop of rising worries over the U.S. economy, we saw San Diego life science companies forming new partnerships, raising new funding, and closing some new deals over the last week. We also saw drops in share prices at two of our biggest life science companies. Your briefing is ready now. —San Diego’s Trius … Continue reading “Trius and Bayer Sign Deal, Brooks Buys Nexus Biosystems, Wildcat Discovery Gets $7.5M Financing, & More San Diego Life Sciences News”
Detroit Deals Stay Sluggish in Q2, Ready for Some Magic
Detroit startups have less than sunny results to report for fundraising in second quarter of 2011. There were just two startups in the area that inked investments from April through June, and those deals added up to a meager $2.21 million, according to the MoneyTree Report, compiled by the National Venture Capital Association and PricewaterhouseCoopers, … Continue reading “Detroit Deals Stay Sluggish in Q2, Ready for Some Magic”
PowerInbox Sees the Future of Social Software Platforms, and Its Name Is… E-mail
If you’re like most people, you do a lot of your personal communicating via Facebook and text messages, but you handle most of your business matters over e-mail. In fact, you probably spend far too much of your workday on e-mail (some estimates say 30 percent), and you wish you could be more efficient and … Continue reading “PowerInbox Sees the Future of Social Software Platforms, and Its Name Is… E-mail”
PhotoRocket Cuts Staff, Swaps CEOs, Looks for New Direction
Seattle photo-sharing startup PhotoRocket, stocked with veterans of high-profile companies like Amazon, Microsoft, aQuantive and Qpass, has cut its staff and changed CEOs as it tries to build up the product, including adding new features to make PhotoRocket stand out in a forest of mobile photo apps and services. In an e-mail to Xconomy, founder … Continue reading “PhotoRocket Cuts Staff, Swaps CEOs, Looks for New Direction”
PacBio, Following Fast Behind Rivals, Seeks Answers for Germany’s E.Coli Outbreak
Scary headlines about the E.coli outbreak in Germany have faded, but scientists are still looking to learn about the DNA sequence of this new bacterial invader, and how it evolved to become deadly. Super-cheap, superfast sequencing has made it easier than ever to dig into these kinds of questions, and today, researchers will have an … Continue reading “PacBio, Following Fast Behind Rivals, Seeks Answers for Germany’s E.Coli Outbreak”
Sarah Schmid Suits Up for Xconomy Detroit
Sarah Schmid’s high school and mine were rivals, but I’m not holding it against her. In fact, having a home-grown Michigan journalist take up the reins of Xconomy Detroit is so exciting I’m willing to overlook any number of gridiron defeats and any amount of adolescent cooler-than-thou posturing. Even more exciting is the fact that … Continue reading “Sarah Schmid Suits Up for Xconomy Detroit”
Chinese Companies Flock to Metro Detroit in Search of Automotive Expertise
When Tianhai Electric North America won a $300,000 incentive from the Michigan Economic Growth Authority to establish a world headquarters in Orion Township this past May, it was the latest example of a Chinese automotive company choosing to locate operations in Southeast Michigan—and part of a growing trend that has the Detroit area playing an … Continue reading “Chinese Companies Flock to Metro Detroit in Search of Automotive Expertise”
Facebook’s Main Man on Skype, Seattle’s Philip Su, on Making Video Calls Magical
In the six months or so he spent building Skype video chat into Facebook, Philip Su had a particular person in mind: your mom. Well, not just her—when you’ve got a user base 750 million strong, there’s a big contingent of folks who aren’t early adopters or tech geeks. And even though video calling has … Continue reading “Facebook’s Main Man on Skype, Seattle’s Philip Su, on Making Video Calls Magical”
A Bay Area VC Sees Some Missing Ingredients in San Diego’s Innovation Community
As we saw in the venture activity surveys that came in last week, the capital deployed by VC firms in startups developing innovative technologies has been returning to pre-recession levels in key technology hubs throughout the United States. In San Diego, however, venture funding has taken a decided turn for the life sciences. Of the … Continue reading “A Bay Area VC Sees Some Missing Ingredients in San Diego’s Innovation Community”
Trius Strikes Antibiotic Deal With Bayer, Pockets $25M
San Diego-based Trius Therapeutics, the developer of a new antibiotic, said today it has secured its first big commercial partnership to market the experimental drug around the world. Trius (NASDAQ: [[ticker:TSRX]]) said today that it has provided an exclusive license to Germany-based Bayer to develop and market torezolid phosphate in China, Japan, Africa, Latin America, … Continue reading “Trius Strikes Antibiotic Deal With Bayer, Pockets $25M”
Health IT Is the New Black
Once upon a time there was “ehealth.” That time was the late 1990’s and there was a temporary ripple in The Force when anything that combined healthcare and the Internet had a suddenly popularity in the venture capital investment community. Companies like the original WebMD, the original Medscape, Mediconsult.com, DrKoop.com, Medibuy, Adam.com, PlanetRx, and a … Continue reading “Health IT Is the New Black”
Brooks Acquires San Diego’s Nexus Biosystems for $79M
Brooks Automation (NASDAQ: [[ticker:BRKS]]), the biomedical equipment maker in Chelmsford, MA, says today it paid $79 million to acquire Nexus Biosystems, a suburban San Diego provider of compound sample management systems. Based in Poway, CA, about 19 miles north of San Diego, Nexus makes automated equipment for handling chemical and biological samples in a variety … Continue reading “Brooks Acquires San Diego’s Nexus Biosystems for $79M”
Cerulean Shows Progress in Cancer, Tests Nano-Drug Platform in RNAi
[Updated 8/15/11 8:00 am. See below.] In mid-July, Cambridge, MA-based Cerulean Pharma began a new clinical trial of its cancer drug CRLX101, which is a “nanoparticle”—a powerful chemical wrapped in a tiny package that can burrow its way into cancer cells and kill them. Cerulean is one of a handful of companies laboring to apply nanotechnology … Continue reading “Cerulean Shows Progress in Cancer, Tests Nano-Drug Platform in RNAi”
Interactions Gains $12M for Phone-Based Customer Service Tech
Franklin, MA-based Interactions, a speech and customer service technology company, said yesterday it has raised $12 million in new financing led by Sigma Partners. North Hill Ventures, Cross Atlantic Capital Partners, and Updata Partners also participated in the round. The company says it will use the new money to support its growing customer base, expand … Continue reading “Interactions Gains $12M for Phone-Based Customer Service Tech”
Hotlist, Raising Series A Round, Moves to New Office, Looks to Make Socializing More Efficient
Offering what it says is a different spin on location-based services, four-year-old New York startup Hotlist is pursuing more funding and plans to expand its staff to fill its new offices. Billed as a social discovery engine, Hotlist lets users see where their friends and acquaintances plan to be, rather than where they have already … Continue reading “Hotlist, Raising Series A Round, Moves to New Office, Looks to Make Socializing More Efficient”
Ksplice Bought By Oracle, Q2 Boston Deals Break $1B, General Catalyst Funds Airbnb, & More Boston-Area Deals News
[Corrected 7/27/11, 10:20 am. See below.]Deals news was red-hot in the last week, with reports of $1B+ investment totals from the year’s second quarter and a massive June Massachusetts funding pot. We also caught a fresh stream of headlines on financings and acquisitions. —Lexington, MA-based drug developer Amag Pharmaceuticals (NASDAQ: [[ticker:AMAG]] said it would merge … Continue reading “Ksplice Bought By Oracle, Q2 Boston Deals Break $1B, General Catalyst Funds Airbnb, & More Boston-Area Deals News”
IPO Activity Returns to Pre-Recession Levels in Second Quarter
The economic deep freeze is thawing for IPOs on U.S. exchanges, according to a quarterly report issued today by the Ernst & Young accounting firm. The number of companies in registration for an initial public offering increased to 140 during the three months that ended June 30, according to the latest the “Ernst & Young … Continue reading “IPO Activity Returns to Pre-Recession Levels in Second Quarter”
Intellectual Ventures Responds to Public Radio Investigation
Intellectual Ventures, the Bellevue, WA-based patent licensing and invention firm, has responded on its blog to a recent report by the influential public radio program “This American Life” that delved into the controversy around intellectual property rights—and specifically, the accusation that IV is a massive “patent troll” that uses its trove of intellectual property to … Continue reading “Intellectual Ventures Responds to Public Radio Investigation”
A123, Joule Forge Ahead in Wind Energy Storage and Biofuels
Busy day for a couple of well-known cleantech companies around Boston. One public company has signed a big deal in China, while the other, an ambitious upstart, is carefully protecting its intellectual property as it heads toward large-scale commercialization. —A123 Systems (NASDAQ: [[ticker:AONE]]), the Waltham, MA-based maker of lithium ion batteries, said today it has … Continue reading “A123, Joule Forge Ahead in Wind Energy Storage and Biofuels”
MI Businesses First to Benefit From New U.S. Investment Initiative
The U.S. Small Business Association (SBA) today announced a partnership with Dow Chemical and state investment funds to help finance second-stage growth companies in Michigan, the first state in the nation to take part in the new nationwide investment initiative. The InvestMichigan! Mezzanine Fund, part of the $1 billion Start-Up America Impact Investment SBIC Initiative, will pump … Continue reading “MI Businesses First to Benefit From New U.S. Investment Initiative”
Zillow, Inrix, Glympse: Your 1-Minute Week in Seattle Tech News
Zillow’s stock market debut dominated the past week of Seattle tech headlines here at Xconomy, and it’s one of the top stories of the year for the Northwest tech business scene. The significance extends beyond the raw facts and figures of Zillow’s (NASDAQ: [[ticker:Z]]) business, which aren’t mind-blowing—the company is growing but unprofitable, and only … Continue reading “Zillow, Inrix, Glympse: Your 1-Minute Week in Seattle Tech News”
WePay, Violin Memory, True U: The 1-Minute Summary of Last Week’s Bay Area BizTech News
We usually bring you our review of the previous week’s business and technology news on Monday. But yesterday was so full of breaking news (Airbnb’s huge venture round, Innovalight’s acquisition by DuPont) that I just didn’t have time to write it. So, at the risk of dwelling on what’s now ancient history, here’s what we … Continue reading “WePay, Violin Memory, True U: The 1-Minute Summary of Last Week’s Bay Area BizTech News”
Wildcat Discovery Raises $7.5M to Develop Advanced Cleantech Materials
Wildcat Discovery Technologies, a five-year-old San Diego startup applying high-throughput screening technologies in cleantech materials development, has raised $7.5 million through a combination of equity, convertible debt, and securities, according to a recent regulatory filing. The total includes $685,000 in warrants convertible to preferred shares. Wildcat’s work is focused on identifying and developing new materials … Continue reading “Wildcat Discovery Raises $7.5M to Develop Advanced Cleantech Materials”
Varolii Rolls up $8M to Grow Communications Biz After Surviving the Great Recession
[Updated 11:15 am, see below] Varolii, an 11-year-old software company that handles customer and employee communications for big companies, has served as something of a barometer for the U.S. economy’s troubles over the past few years. After generating double-digit sales growth in the mid-2000s and preparing for an $86 million IPO, Varolii had to back … Continue reading “Varolii Rolls up $8M to Grow Communications Biz After Surviving the Great Recession”
San Diego’s Tealium Unveils New System to Manage Tracking Code in Web Pages
Tealium co-founder Ali Behnam tells me their San Diego startup began three years ago as an IT consulting firm, and soon ran into a lot of clients who needed their help to address a variety of headaches associated with managing all the page tags on a company website. The tracking code that makes up these … Continue reading “San Diego’s Tealium Unveils New System to Manage Tracking Code in Web Pages”