Amitree Lands $7 Million

  SAN FRANCISCO – Amitree, the makers of Folio, an intelligent assistant for real estate transactions, have announced a $7.128...

Zynga Names New CEO

SAN FRANCISCO — Zynga, a provider of social game services, has appointed Frank Gibeau as Chief Executive Officer effective...

Cupertino Uses Aerohive Networks for Wi-Fi

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.
News Facts

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.

GoPro to Acquire Apps Splice and Replay

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.

Mainsail Partners Raises $384 Million for Fourth Fund

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.

Forty Seven Inc. Completes $75 Million Series A

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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. 336601LOGO

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.

 

Nike Founder Donates $400 Million to Stanford

Stanford President John Hennessy and philanthropist Philip Knight.  Photo: L.A. Cicero

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 Reports Record Revenues

Salesforce reported revenues for the quarter and year ended January 31, 2016.

www.salesforce.com. “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.