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Kepler Books Forms New Nonprofit Organization

  MENLO PARK — Kepler’s Books in Menlo Park has announced the formation of Kepler’s Literary Foundation (KLF), a new, independent nonprofit organization dedicated to promoting Kepler’s position as the premier producer of literary and cultural programs in Silicon Valley. KLF was created as part of the community’s Kepler’s 2020 Project, whose goal is to reimagine Kepler’s and […]

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Howard University Opens Campus at Google HQ

  Google is hoping to hire more diverse engineers by forming a partnership with Howard University to open a campus at the company’s headquarters. Howard is a Historically Black University located in Washington, DC. The new program offers a residency for Black Computer Science majors right at the Googleplex. “Howard West” is now the centerpiece […]

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Home Depot Hiring 80,000 Employees for Spring

  Home Depot, the nation’s largest home-improvement chain, plans to hire 80,000 workers for the upcoming spring season. The number is the same as the company hired last year. Opportunities are available at The Home Depot’s nearly 2,000 U.S. stores, as well as 75 distribution facilities. They include customer service and sales, lot associates, freight […]

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Google Home Partners With First Alert

  Google has partnered with Illinois-based First Alert to enable Onelink by First Alert products to work with the Google Home device and its hands-free, voice-controlled Google Assistant technology. The first such Onelink product – a smart Wi-Fi Thermostat – launches this month. “First Alert brings expertise in home safety and security to this partnership,” said […]

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San Jose Apartment Complex Sold for $95.5 Million

  SAN JOSE — The Grove, a 331-unit apartment complex built in 1970 in San Jose, has sold for $95.5 million. The property was sold by Kennedy Wilson Multifamily to TH Real Estate, an operating division of TIAA Global Asset Management. Marcus & Millichap’s Institutional Property Advisors (IPA) division helped close the sale. “The investment appeal of this […]

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Logitech Rolls Out Prodigy Series

  NEWARK, CA — Logitech has introduced the Prodigy series, a new family of gaming gear that includes two mice, a keyboard and a headset. All share the same attributes of high-performance technology, exceptional comfort, and a sleek and modern design. “We love building products for hardcore gamers, and we’ll never give that up,” said […]

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Merck Buys Afferent Pharmaceuticals

  KENILWORTH, N.J. & SAN MATEO, CA — Merck (MRK), known as MSD outside the United States and Canada, has signed an agreement to acquire privately held Afferent Pharmaceuticals for up to $750 million. Afferent Pharmaceuticals is a leader in the development of therapeutic candidates targeting the P2X3 receptor for the treatment of common, poorly-managed, […]

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Cyara Closes $25 Million Series A

  REDWOOD CITY — Cyara Solutions Corp., a provider of a testing and monitoring platform for businesses, has secured $25 million in Series A funding in a round led by PeakSpan Capital and Greenspring Associates. Cyara has headquarters in Australia with North American office in San Francisco. The company will use the funds to scale […]

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Pandora Founder Taking Over as CEO

OAKLAND —  Music site Pandora announced its board has appointed founder Tim Westergren as CEO effecitve immediately. Tim helped lead the development of Pandora’s Music Genome Project in the early 2000s. He has been deeply involved throughout Pandora’s history and company’s growth strategy and evolution. “I am incredibly excited about the future of Pandora. We’re […]

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Hotel Zeppelin Opens in SF

SAN FRANCISCO — In a city best known for its transformative spirit and colorful counter-culture, one hotel is looking to shake things up with its bold and decidedly unconventional approach to hospitality—enter Hotel Zeppelin San Francisco. Located just two blocks from San Francisco’s Union Square, and within walking distance to FiDi, Viceroy Hotel Group’s newest property […]

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Zynga Names New CEO

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 August 2015, is a gaming industry veteran, with 25 years of experience in interactive entertainment. Mark Pincus, Zynga’s founder and current CEO, will serve as […]

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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.

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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.

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Forty Seven Inc. Completes $75 Million Series A

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.

 

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Nike Founder Donates $400 Million to Stanford

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.

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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.

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Fitbit Shares Plunge 20.8%

The Fitbit BlazeFitbit, 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.

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Google Shutting Down Compare Service

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 just wasn’t gaining enough transaction. Google Compare for credit cards listed dozens of credit cards from different banks along with their benefits, annual fees and […]