TipJoy, an Arlington, MA-based startup that created a micropayment system designed to allow Web users to reward content providers with small tips, announced on its blog yesterday that it is shutting down. Launched through the Y Combinator startup incubator program, TipJoy collected a Series A venture investment of nearly $1 million less than a year … Continue reading “TipJoy Shuts Down”
Category: National
Why It’s Crazy for Authors to Keep Their Books Off the Kindle
In June, I wrote a column about the problem of “On Demand Disorder“—my name for the narrowing of vision that can occur when people get addicted to the instant experiences available over the Internet and other digital media. If you only listen to the music you can find on iTunes or Pandora or Last.fm, if … Continue reading “Why It’s Crazy for Authors to Keep Their Books Off the Kindle”
$14M for Novomer, $7.3M for Innocentive, $6M for Zendesk, & More Boston-Area Deals News
In what I think is a first for the deals roundup, it was all venture all the time for New England’s tech and life sciences companies this past week. —Greentech Media, the Cambridge, MA-based media, market research, and events company, collected $825,000 of a planned $1.25 extension of its Series B round, which previously totaled … Continue reading “$14M for Novomer, $7.3M for Innocentive, $6M for Zendesk, & More Boston-Area Deals News”
Five Unsung Heroes of the Seattle Tech Scene
The Seattle area is known for its technology giants like Microsoft, Amazon, Boeing, and RealNetworks. It’s also known for its popular tech startups like Zillow, Wetpaint, Pet Holdings (I Can Has Cheezburger), iLike, and Big Fish Games. But there are dozens of other sizable tech companies operating behind the scenes, quietly executing on their vision … Continue reading “Five Unsung Heroes of the Seattle Tech Scene”
San Diego’s Platformic Adds Mobile Blogging Capability to Web Development and Management Tools
Platformic, a San Diego web development startup, is introducing a new mobile blogging tool, which, according to the company, simplifies the process of adding video, photos, and text to websites based on Platformic’s technology and content management system. Platformic says new content can be added to a website using an iPhone, Blackberry, or other mobile … Continue reading “San Diego’s Platformic Adds Mobile Blogging Capability to Web Development and Management Tools”
ZymoGenetics, Citing Two Patient Deaths, Builds Up Ammunition for Case Against Rival
Before it asked the FDA to yank a drug made by its chief competitor, King Pharmaceuticals, off the U.S. market, ZymoGenetics learned that physicians had attributed the deaths of two patients to bad reactions to the drug, says ZymoGenetics CEO Doug Williams. I spoke with Williams this morning shortly after the Seattle biotech issued a … Continue reading “ZymoGenetics, Citing Two Patient Deaths, Builds Up Ammunition for Case Against Rival”
What’s New at Xconomy
Sometimes we’re so busy doing new stuff here at Xconomy that we don’t have time to actually let you know about it. So here’s a handy list of things that have been happening at the company this summer that you might have missed. —We published our first premium product, Startup School: The Xconomy Guide to … Continue reading “What’s New at Xconomy”
Wireless Chipmaker Sequoia Communications Shuttered; Auctioneers Move in
San Diego’s Sequoia Communications, a venture-backed semiconductor company founded in 2001, has shut down—ending the startup’s effort to develop an innovative microchip for cellular phones. The company’s demise was reported yesterday by the website SoCalTech.com, which noted that Sequoia has raised more than $50 million from BlueRun Ventures, Cadence Design Systems, Gabriel Venture Partners, Huntington … Continue reading “Wireless Chipmaker Sequoia Communications Shuttered; Auctioneers Move in”
ZymoGenetics Plays Hardball, Asks FDA to Pull Competing Drug Off Market Because of Safety
ZymoGenetics isn’t giving up on its sole marketed product, and it’s playing some hardball to fight for it. The Seattle biotech company said today it is asking the FDA to yank its top competitor’s drug off the market because, it contends, it’s not safe enough. Thrombin-JMI, made by Bristol, TN-based King Pharmaceuticals (NYSE: [[ticker:KG]]), is … Continue reading “ZymoGenetics Plays Hardball, Asks FDA to Pull Competing Drug Off Market Because of Safety”
Anadys Moves Hepatitis C Drug Ahead on its Own, Intellikine Casts a Broad Net, Sequel Pharma Raising $8.4M, & Other San Diego Life Sciences News
It’s been relatively slow for San Diego life sciences news, except for a flurry of funding deals for local drug development companies. Get the scoop on who’s getting money, along with some biotech profiles and more. —CEO Steve Worland of San Diego’s Anadys Pharmaceuticals (NASDAQ: [[ticker:ANDS]]) says the company has stabilized following some mercurial advances … Continue reading “Anadys Moves Hepatitis C Drug Ahead on its Own, Intellikine Casts a Broad Net, Sequel Pharma Raising $8.4M, & Other San Diego Life Sciences News”
Three Innovators with Seattle Roots Make Waves in Video, Internet, and Smart Sensors
This week, the Seattle area has lived up to its reputation as home to the future of technology, with three local (or formerly local) innovators making the national media rounds in Technology Review, the New York Times, and Time Magazine. And not in just one field or sector either—the three span academia (smart sensors), a … Continue reading “Three Innovators with Seattle Roots Make Waves in Video, Internet, and Smart Sensors”
Acquia on Why Web Publishers Love Drupal—And How the Startup Balances Business With Belonging to an Open-Source Community
So you want to be a Web publisher? First you’ll need the modern equivalent of a printing press: a content management system (CMS). There are many to choose from, each with its own committed proponents. If you’re a big company, you might spend hundreds of thousands of dollars on an enterprise-class system like EMC’s Documentum. … Continue reading “Acquia on Why Web Publishers Love Drupal—And How the Startup Balances Business With Belonging to an Open-Source Community”
Cell Therapeutics Nabs $30M, Rick Klausner on Vaccines, Targeted Growth Tinkers With Algae Genes, & More Seattle-Area Life Sciences News
Somebody forgot to tell the Northwest biotech community this is the height of vacation season. Our pages this week were packed with stories on financings, clinical trials, exclusive interviews and more. —Rick Klausner, the former leader of the National Cancer Institute and the global health wing of the Bill & Melinda Gates Foundation, provided some … Continue reading “Cell Therapeutics Nabs $30M, Rick Klausner on Vaccines, Targeted Growth Tinkers With Algae Genes, & More Seattle-Area Life Sciences News”
MyWebGrocer, A Survivor of the Online Grocery World, Plots Growth Strategy with iPhone Apps
The online grocery business famously flamed out earlier this decade, after hundreds of millions of dollars were pumped into companies like HomeGrocer.com and Webvan. But online grocery sales and advertising have been making a comeback in recent years, and one of the industry survivors, MyWebGrocer, based in Colchester, VT, has raised a healthy $13 million … Continue reading “MyWebGrocer, A Survivor of the Online Grocery World, Plots Growth Strategy with iPhone Apps”
Brett Allsop, Co-Founder of Yapta, Dies at 38
Xconomy is saddened to note that Brett Allsop, the chairman and co-founder of Seattle-based Yapta, died last night in a car accident in Bellingham, WA. Allsop was 38. The news was reported by the Bellingham Herald. Allsop co-founded Yapta, an online travel site that tracks airfares and hotel prices, in 2006. The startup raised $2 … Continue reading “Brett Allsop, Co-Founder of Yapta, Dies at 38”
MySpace Confirms Purchase of iLike
MySpace CEO Owen Van Natta confirmed in a press conference call today that the social networking website has purchased Seattle-based music service company iLike. Financial details were not disclosed, but the rumors surrounding the deal point to about $20 million being spent by MySpace for the Seattle startup. According to Van Natta, the company will … Continue reading “MySpace Confirms Purchase of iLike”
San Diego Biotech Startups Raise New Cash to Treat Anemia, Heart Disease and More
Three life sciences companies in the San Diego region have raised venture capital lately, according to our scan of filings from the Securities and Exchange Commission. All three are concentrating on developing new drugs. Here’s a roundup: —Palkion, a San Diego developer of anemia drugs, has raised $2.5 million from investors, according to an SEC … Continue reading “San Diego Biotech Startups Raise New Cash to Treat Anemia, Heart Disease and More”
State of Venture Quiz 2: Answers and Commentary
Do you get the feeling deal flow is picking up a bit? Well, you might be right. But does that make things better for entrepreneurs? Not necessarily. As Boston lawyer John Hession sums up: “The market is improving. That doesn’t necessarily mean that deal terms are improving or valuations are improving. It means the number … Continue reading “State of Venture Quiz 2: Answers and Commentary”
iLike Courts MySpace, Microsoft and Nokia Tie the Knot, Madrona Funds Three Startups, & More Seattle-Area Deals News
It was a crazy busy week for deals in the Northwest. Just when we thought the flow might slow down before the end of summer, we saw tons of activity in software, Internet, mobile, gaming, and materials. —Bellevue, WA-based Apptio, the IT cost management startup led by CEO Sunny Gupta, raised $14 million in Series … Continue reading “iLike Courts MySpace, Microsoft and Nokia Tie the Knot, Madrona Funds Three Startups, & More Seattle-Area Deals News”
With Funding from OVP, Novomer Works to Make Diapers and Other Plastic Goodies from Carbon Gases
Carbon monoxide and carbon dioxide get a bad rap. Sure, the first is a silent killer that binds to hemoglobin and suffocates people in burning buildings, and the second is poisoning our atmosphere and driving global temperatures out of control. But did you know that they can also be used to make plastic? Back in … Continue reading “With Funding from OVP, Novomer Works to Make Diapers and Other Plastic Goodies from Carbon Gases”
VC Rick Klausner on the Future of Vaccines, and Why Dendreon is Only Scratching the Surface
Vaccines produced some of the biggest advances in medicine over the past two centuries, but for most of that time, scientists couldn’t say for sure how they worked to rev up the immune defenses. “You would close your eyes and hope,” says Rick Klausner. That era is coming to a close, says Klausner, a former … Continue reading “VC Rick Klausner on the Future of Vaccines, and Why Dendreon is Only Scratching the Surface”
Anadys, Biotech’s Roller Coaster Story, Gears Up for Next Big Step with Hepatitis C Drug
If there were a prize for the whiplash-inducing roller coaster story of the year in San Diego biotech, Anadys Pharmaceuticals would have to be a contender. But if CEO Steve Worland has his way, some of that stomach-turning drama of the past eight months will soon just be a memory. “You might say we’ve been … Continue reading “Anadys, Biotech’s Roller Coaster Story, Gears Up for Next Big Step with Hepatitis C Drug”
Why Big Pharma Wants To Be Like Big Biotech
Why would a Big Pharma company want to remake itself as a biotech? In a recent Xconomy piece, I discussed the changes in Roche’s corporate culture brought on by their recent acquisition of Genentech, along with recommendations for creating an innovative biotech research culture. What I didn’t have the space to dive into was a … Continue reading “Why Big Pharma Wants To Be Like Big Biotech”
Navinet and Vitality use Internet for Health, Constellation Gets to Series A, and Other Boston-Area Life Sciences News
It was a mixed week of business and science, with a couple of stories on health IT companies to round things out. —Luke reported on Thursday that Cambridge, MA-based Alnylam (NASDAQ: [[ticker:ALNY]]) is pushing forward with its Vancouver, BC-based partner Tekmira to create RNA interference drugs to treat cancer. The partnership is focusing on ways … Continue reading “Navinet and Vitality use Internet for Health, Constellation Gets to Series A, and Other Boston-Area Life Sciences News”
The Qpass Mafia, Part Two: An Updated Family Tree of Digital Commerce Execs
I’ve gotten quite a few responses and additions to yesterday’s list of “Qpass mafia,” an influential group of former Qpass employees from the Seattle area. So far, nobody has sent me a Sicilian message (like a dead fish through my window), so I must be on the right track. But feel free to comment on … Continue reading “The Qpass Mafia, Part Two: An Updated Family Tree of Digital Commerce Execs”
PATH Wins $1.5M Hilton Prize, World’s Biggest Award for Humanitarian Work
PATH, the Seattle-based nonprofit that works to improve health in poor countries, said today it has won the closest thing the humanitarian field has to the Nobel Prize—the $1.5 million cash award known as the Conrad N. Hilton Humanitarian Prize. The news was delivered at an exuberant press conference this morning with PATH president Christopher … Continue reading “PATH Wins $1.5M Hilton Prize, World’s Biggest Award for Humanitarian Work”
Jake Shapiro on PRX and the iPhone App That Could Change Public Radio’s Future
At first, the mission of the Public Radio Exchange was simple enough: Create an online clearinghouse for news-and-culture radio programming where public radio stations would have an easier time shopping for shows and independent producers would have a better shot at getting their stuff on the air. PRX launched that system in 2003, and it’s … Continue reading “Jake Shapiro on PRX and the iPhone App That Could Change Public Radio’s Future”
Apptio Raises $14M to Expand, “Crush the Competition” in IT Financial Management
Want to know how to raise a big round of venture funding in a recession? If you’re in the software business, talk to Sunny Gupta. Gupta’s company, Bellevue, WA-based Apptio, is announcing a $14 million Series B financing round today. The round includes existing investors Madrona Venture Group and Greylock Partners, and also new investors … Continue reading “Apptio Raises $14M to Expand, “Crush the Competition” in IT Financial Management”
Xconomy Goes Mobile at m.xconomy.com
We’re happy to announce that there’s now an easier to way to read Xconomy on your mobile phone. Go to http://m.xconomy.com for the new mobile-friendly version of our site, which we’ve simplified for easy navigation on small screens. All the usual content is there: our Boston, San Diego, and Seattle news stories, along with Xconomist … Continue reading “Xconomy Goes Mobile at m.xconomy.com”
Intellikine, Stocked With Cash, Pushes Portfolio of Drugs Against Biology’s Hot Targets
Intellikine has the kind of story you rarely see in 2009. Few biotech companies can rustle up $28 million in venture capital in this year of the Great Recession, especially when they don’t have a single drug candidate in human clinical trials. Either investors are having a bout of 1999-style insanity, or the company has … Continue reading “Intellikine, Stocked With Cash, Pushes Portfolio of Drugs Against Biology’s Hot Targets”
ClearAccess Raises $6M in Series B Financing
Vancouver, WA-based ClearAccess, a broadband device management and data services company, is announcing today that it has closed a Series B financing, raising a little over $6 million. The financing was led by Blade Ventures, Buerk Dale Victor, and DFJ Frontier. ClearAccess developed the ClearVision management system, allowing service providers to remotely manage residential and … Continue reading “ClearAccess Raises $6M in Series B Financing”
State of Venture Quiz No. 2: Deal Terms
A couple weeks ago, I colluded with Michael Greeley, general partner at Flybridge Capital Partners and chairman of the New England Venture Capital Association, to round up some statistics about venture capital here in the Boston area. I then tested readers’ knowledge of the trends with the inaugural State of New England Venture Quiz. The … Continue reading “State of Venture Quiz No. 2: Deal Terms”
MySpace to Acquire iLike for $20M, Report Says
Seattle-based iLike may be acquired by MySpace for $20 million, according to a report today in TechCrunch. iLike is a music service company with Facebook and iPhone programs that help people find new music and create playlists. It recently launched a new iPhone app that finds local concerts based on the music found on a … Continue reading “MySpace to Acquire iLike for $20M, Report Says”
The Qpass Mafia: Digital Commerce Execs Wield Influence at Firms from Amazon to Zipwhip
Here’s an interesting “people” trend to start out the week. I always like hearing about Seattle-area tech companies that spawn huge amounts of entrepreneurial activity. Besides the obvious giants—Microsoft, Amazon, RealNetworks—there are a few notable smaller companies whose employees go on to influence an inordinate number of other firms. These connections don’t get covered in … Continue reading “The Qpass Mafia: Digital Commerce Execs Wield Influence at Firms from Amazon to Zipwhip”
How NaviNet Built the Country’s Largest Healthcare Communications Network
If you’ve never heard of NaviNet, the builder of what the company claims is the nation’s largest real-time healthcare communications network, then the Cambridge, MA-based firm bears most of the responsibility, says company CEO Brad Waugh. The 11-year-old firm spent its first 10 years building the network and its customer base, and over the past … Continue reading “How NaviNet Built the Country’s Largest Healthcare Communications Network”
Boston-Area Tech Layoffs Slow: A Recap of Summer’s Job Cuts at Analog Devices, CombinatoRx, and Other Firms
If you’re fortunate enough to be gainfully employed, you may have joined the droves of other Boston-area innovators who have headed for the Cape, the White Mountains, or another summertime retreat in recent months. Or perhaps you’ve been busy looking for your next career challenge. Either way, with Labor Day fast approaching, we thought it’d … Continue reading “Boston-Area Tech Layoffs Slow: A Recap of Summer’s Job Cuts at Analog Devices, CombinatoRx, and Other Firms”
Unmanned Vehicles, a Silver Lining for Video Service, and Other SD BizTech News
Not many deals made news in San Diego last week, although we had a few national stories that were of local interest. —Bruce reported on some of the companies from Xconomy cities going to the Association for Unmanned Vehicle Systems International conference last week, including three from San Diego. General Atomics Aeronautical Systems gave a … Continue reading “Unmanned Vehicles, a Silver Lining for Video Service, and Other SD BizTech News”
Vitex, Pacific Northwest National Lab Create Impervious ‘Sandwich Bag’ To Take Solar Power Mainstream
If solar panels are ever going to generate electricity for the mass market of U.S. consumers, they will need to be embedded in a place that captures serious rays, like the roof of the average American home. Lots of scientists are trying to make solar panels thinner, lighter, flexible, and more efficient, so they can … Continue reading “Vitex, Pacific Northwest National Lab Create Impervious ‘Sandwich Bag’ To Take Solar Power Mainstream”
Innocentive Raises $7M—One More Time—to Keep Building Problem-Solving Network
In a development that may cause déjà vu for anyone who read my May 2008 story about Waltham, MA-based Innocentive raising approximately $7 million as part of a Series B funding round, Innocentive has raised approximately $7 million as part of a Series B funding round. Again. This time around, it’s $7.3 million, in a … Continue reading “Innocentive Raises $7M—One More Time—to Keep Building Problem-Solving Network”
Qualcomm Ventures Uses QPrize to Fill VC Void, Seed Wireless Startups Around the World
[Editors note: Revises and corrects the terms of QPrize convertible note funding] When San Diego-based Qualcomm Ventures announced it was organizing a new international prize competition last May, the economy was already reeling and the venture capital industry had slammed on the brakes. That slowdown in VC activity—especially for early stage startups—was probably the key … Continue reading “Qualcomm Ventures Uses QPrize to Fill VC Void, Seed Wireless Startups Around the World”
Dark Day for Digital Photo Services: PicMe, BubbleShare, Riya Fade to Black
In an online photo mini-apocalypse, three Web 2.0-era photo sharing and management services—BubbleShare, Riya, and PicMe—announced late this week that they’re shutting down operations. The closings aren’t entirely coincidental. Greg Raiz of Raizlabs, the Cambridge, MA-based software development house that built PicMe, says he accelerated plans to mothball and hopefully sell the application after he … Continue reading “Dark Day for Digital Photo Services: PicMe, BubbleShare, Riya Fade to Black”
Ramen or Roast Beef? Jeff Schrock and Geoff Nuval on DevHub’s Rise to Profitability
Investor Jeff Schrock calls Seattle-based EVO Media a “ramen profitable” startup. Co-founder and CEO Geoff Nuval calls it “roast beef sandwich” profitable. Two guys, two spellings of the same first name, two different food analogies. But the message is clear: these guys are hungry. Call it what you want, EVO Media is turning a profit … Continue reading “Ramen or Roast Beef? Jeff Schrock and Geoff Nuval on DevHub’s Rise to Profitability”
Startups Give E-mail a Big Boost on the iPhone with ReMail and GPush
As a device for managing your e-mail, the Apple iPhone isn’t bad, but it does have a few quirks and limitations. This week, I want to write about two brand-new applications that work around those failings, making the iPhone into a far more powerful tool for staying connected. The first app grabbed my attention because … Continue reading “Startups Give E-mail a Big Boost on the iPhone with ReMail and GPush”
Greentech Media Refreshes Its Venture Coffers
Regulatory documents filed yesterday show that Cambridge, MA-based Greentech Media, which covers cleantech innovation through an online news site, market research, and events, has collected $825,000 of a planned $1.25 million equity funding round. Contacted by Xconomy, Greentech Media’s president and CEO Scott Clavenna says the money is an extension of the $2.75 million Series … Continue reading “Greentech Media Refreshes Its Venture Coffers”
Targeted Growth Tinkers with Genes to See If Algae Can Fulfill Biofuel Potential
[[Correction 10:40 am Pacific: Targeted Growth’s camelina program currently uses traditional breeding, not genetic engineering techniques like those for its algae biofuel program.]] Targeted Growth‘s business depends today in large part on its ability to breed new camelina seeds as a source for biofuel. But the Seattle-based biotech/cleantech company also has its eyes on a … Continue reading “Targeted Growth Tinkers with Genes to See If Algae Can Fulfill Biofuel Potential”
Hard Work is Essential for Startups. But How Much is Too Much? (Part 2)
Yesterday, I talked a little about balancing short and long-term effort at a startup. Today, I want to discuss “cranking,” which I’ll define as a short-run effort to achieve an extremely important short-term goal. How hard can people possibly crank? For a sufficiently motivating goal, people can work well in excess of 70 hours per … Continue reading “Hard Work is Essential for Startups. But How Much is Too Much? (Part 2)”
VMware Springs for SpringSource, Turbine Takes $6.7M, CombinatoRx Teams With Clinical Data, & More Boston-Area Deals News
Boston- and Cambridge-based tech and life sciences firms cut the usual assortment of deals this week, but their brethren further out in New England were unusually active as well. —Marathon Technologies raised a $7 million round of equity financing from undisclosed investors. The Littleton, MA-based firm makes disaster-recovery software for virtual and physical servers. —Norwalk, … Continue reading “VMware Springs for SpringSource, Turbine Takes $6.7M, CombinatoRx Teams With Clinical Data, & More Boston-Area Deals News”
Constellation Pharma Hires New CEO, Collects Last $17M of its Series A Financing
Constellation Pharmaceuticals is on a mission to discover the next generation of cancer drugs by tapping the science of “epigenetics.” The Cambridge, MA-based biotech startup said today that a veteran physician and executive has come aboard to helm the effort, and the firm’s investors have handed over $17.2 million to support the cause. New Constellation … Continue reading “Constellation Pharma Hires New CEO, Collects Last $17M of its Series A Financing”
Domain Raises a $500M VC Fund, Dissident Prods Amylin Again, Avanir Passes Pivotal Test, & More San Diego Life Sciences News
While San Diego has seen a big decline in VC investments this year, it’s nice to know that Domain Associates, one of the region’s most-active life sciences VCs, has raised a new fund. We’ve got the rundown on that and more news of interest to the life sciences community. —San Diego’s life sciences community got some … Continue reading “Domain Raises a $500M VC Fund, Dissident Prods Amylin Again, Avanir Passes Pivotal Test, & More San Diego Life Sciences News”
Vitality, Connecting Pill Bottles to the Internet, Nudges People to Remember Their Meds
If you’re the kind of person who needs a little help remembering to take your prescription meds, Cambridge, MA-based Vitality might have just the technology you need. It’s a wireless, Internet-connected medicine bottle cap that blinks and plays a tune when it’s time to down your pills. The company’s “GlowCaps” system, which goes on sale … Continue reading “Vitality, Connecting Pill Bottles to the Internet, Nudges People to Remember Their Meds”