MOUNTAIN VIEW — Symantec Corp. (SYMC) announced that it has closed the previously announced transaction with Silver Lake, pursuant to which Silver Lake made a $500 million strategic investment in Symantec. … Read More
SAN JOSE — Cisco announced it plans to acquire CliQr Technologies Inc., a privately held company based in San Jose for $260 million. CliQr provides an application-defined cloud orchestration platform to model, deploy … Read More
Apple is planning to open an office in San Francisco’s South of Market neighborhood with room for up to 500 employees according to Reuters. The decision to open an office … Read More
SUNNYVALE – Enlighted, Inc., the leading provider of Internet of Things (IoT) solutions for commercial buildings, has secured $25 million in Series D funding to accelerate its IoT app development and expand … Read More
SAN JOSE, CA – eBay announced the pricing of a $1.5 billion underwritten public offering of its senior unsecured notes, consisting of $750 million of 2.500% Notes due 2018 and … Read More
SAN FRANCISCO — Zynga, a provider of social game services, has appointed Frank Gibeau as Chief Executive Officer effective March 7, 2016. Gibeau, who joined Zynga’s Board of Directors in … Read More
SAN FRANCISCO — RealtyShares, the online marketplace for real estate investing, connecting accredited investors to real estate investment opportunities nationwide, has obtained a $20 million Series B financing round. The new financing was led by Union Square Ventures, a leading venture capital firm in the financial technology space, with participation from existing investors Menlo Ventures and General Catalyst Partners.
“I am incredibly excited to have one of the foremost VC firms leading this latest financing round,” said Nav Athwal, CEO of RealtyShares. “Very few can match the Fintech acumen of Union Square Ventures, which has led financings for Lending Club, Kickstarter, Funding Circle and CircleUp, as well as other name brands such as Twitter, Zynga, Etsy, Tumblr and Meetup. This financing ensures that RealtyShares will remain a committed and well-capitalized partner to our investors and our sponsor and borrower constituencies.”
SUNNYVALE — Yahoo has launched Yahoo Esports – a new destination for delivering professional esports coverage across major games and events. Yahoo Esports is part of Yahoo’s continued investment to provide the best sports … Read More
CUPERTINO – The city of Cupertino has selected Aerohive Networks to deploy access points, branch routers, and switches to deliver Wi-Fi to its employees and guests.
Cupertino is located 45 miles south of San Francisco and is suburban community known for its excellent public school district and as the home of Apple Inc. With approximately 60,000 residents, the City of Cupertino employs 160 staff. While the City contracts many of its services including police and fire, the City provides many valuable and key services to its residents.
SAN MATEO, CA — GoPro announced agreements to acquire two leading mobile video editing apps Replay and Splice. The acquisitions of Replay and Splice increases the company’s ability to deliver ultra-convenient, yet powerful, mobile editing solutions to GoPro customers and billions of smartphone users.
SAN FRANCISCO — Mainsail Partners, a growth equity firm that invests in bootstrapped companies, said it has successfully raised $384 million for its fourth fund, Mainsail Partners IV, L.P. The oversubscribed fund closed in December and took just over two months to complete. The firm will use the fund to continue its strategy of investing in bootstrapped companies and driving accelerated growth through operational expertise and management support.
SAN FRANCISCO — MasterClass, which offers online classes taught by Kevin Spacey, Dustin Hoffman, Serena Williams, James Patterson and Usher, has raised a $15 million Series B funding round. This latest round is led by New Enterprise Associates, Inc. (NEA) (Partner: Rick Yang) and reveals a previously undisclosed $4.5 million Series A led by Javelin Venture Partners (Partner: Alex Gurevich) and two seed rounds totaling $1.9 million both led by Harrison Metal (Founder: Michael Dearing).
PALO ALTO — Forty Seven Inc., a clinical-stage immuno-oncology company, has completed the first half of a committed $75 million Series A financing round and has licensed the rights to multiple immuno-oncology programs from Stanford University.
The Series A financing was led by Lightspeed Venture Partners and Sutter Hill Ventures with participation from Clarus Ventures and GV (formerly Google Ventures). The license includes rights to over 100 issued or pending U.S. or foreign patents that cover the antibody Hu5F9-G4 and several other novel immune checkpoint inhibitors and cancer-specific antibodies.
Watt Companies has sold “The Vale,” a 24.5-acre former industrial campus located in Sunnyvale, CA for $186 million. Watt purchased the property two years ago with the intention to redevelop the site into a high quality, urban-infill residential village.
STANFORD, CA– Stanford University announced the Knight-Hennessy Scholars program, a graduate-level scholarship to prepare a new generation of global leaders with the skills to address the increasingly complex challenges facing the world.
The program is named for alumnus Philip H. Knight, philanthropist, American businessman and co-founder of Nike Inc., who is contributing $400 million, and Stanford’s outgoing 10th President John L. Hennessy. The program builds on Stanford’s preeminent position in higher education, with seven globally ranked multidisciplinary graduate schools that foster service, collaboration, innovation and entrepreneurship.
Salesforce reported revenues for the quarter and year ended January 31, 2016.
“By any measure, this was a spectacular finish to the year with 27% revenue growth in constant currency for the fourth quarter, and for the full year,” said Marc Benioff, chairman and CEO, Salesforce. “We are raising our fiscal year 2017 revenue guidance to $8.12 billion at the high end of our range — unprecedented growth for a company of our size and scale.”
Full fiscal year 2016 revenue was $6.67 billion, an increase of 24% year-over-year, and 27% in constant currency. Subscription and support revenues were $6.21 billion, an increase of 24% year-over-year. Professional services and other revenues were $462 million, an increase of 28% year-over-year.
Google announced on its Fiber Blog that it plans to bring its high-speed fiber optic service to parts of San Francisco. The company will use existing fiber lines to bring service to some apartments, condos, and affordable housing properties.
Reflektion, a leader in real-time, Individualized Commerce, announced the company has raised $18 million in Series B financing, putting its total amount of funding at $29.3 million. Led by Battery Ventures, the round also includes investments from Hasso Plattner Ventures and Intel Capital.
Fitbit, maker of wearable fitness devices, saw its shares drop 20.8% after reporting fourth-quarter earnings. Shares fell $3.44 on Tuesday to close at $13.08 per share near an all-time low.
Fitbit sold 8.2 million connected health and fitness devices in the fourth quarter which includes the holiday season. U.S. revenue in the quarter grew 100% from the previous year and made up 75% of fourth quarter revenue. The company sold a total of 21.4 million devices for all of 2015.
AT&T and Intel have agreed to test how Unmanned Aerial Vehicles (UAVs) or drones work on a network designed to connect devices on the ground. Intel and AT&T will be working to solve major issues in the space, including connectivity. The announcement was made at Mobile World Congress in Barcelona.
Google plans to shut down its Google Compare service to find auto insurance, credit cards and mortgages according to The Wall Street Journal. The service was launched in 2015 and … Read More
Yahoo says it is examining options which may include a sale of the company.
The Board of Directors has formed a Strategic Review Committee of independent directors to lead this effort, with the assistance and support of management.
LG Electronics (LG) has unveiled the new LG G5 smartphone, a brand new design with not only a sleek, metal uni-body featuring a Slide-out Battery but a Modular Type design. The LG G5 is equipped with the powerful yet energy-efficient Snapdragon 820 processor which offers advanced features such as 64-bit performance, Adreno 530 graphics and lower-power Qualcomm Hexagon DSP.
At the Mobile World Congress in Barcelona Spain, Samsung Electronics Co., Ltd. has announced the Samsung Gear 360, a 360-degree camera that lets consumers easily capture, view and share their experiences through spherical video and still images. Facebook CEO Mark Zuckerberg made an appearance on stage to promote the Gear 360 and Gear VR.