Silicon Valley Wire

Palo Alto-Based High Gear Media Raises $5.5 Million in Second Round

Palo Alto, Calif. -- High Gear Media, a Palo Alto-based publisher of automotive digital media, said on Tuesday that it has raised $5.5 million in its second round of funding, led by new investor DAG Ventures. Previous investors Accel Partners and Greylock Partners also participated, which increased the company's total backing to $12 million. The company said that it will use the proceeds to expand its technology platform and make acquisitions to accelerate the growth of its network of owned and operated web sites. High Gear operates a network of 38 automotive sites targeting car buyers and auto enthusiasts by lifestyle, interest and vehicle. Sites include TheCarConnection.com, GreenCarReports.com, AllCarsElectric.com and AllAboutPrius.com. The company said that it expects the new round to carry it into profitability. 
http://www.highgearmedia.com
http://www.highgearmedia.com/press_releases/high-gear-media-secures-55-million-series-b-funding/

Palo Alto-Based Facebook Names David Ebersman as New CFO

Palo Alto, Calif. -- Facebook, the Palo Alto-based online social network with more than 200 million members, has named David Ebersman as its new CFO, three months after Gideon Yu stepped down from the role. Ebersman most recently served as the CFO at South San Francisco-based Genentech from 2006 through March of this year 2009, when the company was sold to Swiss pharmaceutical giant Roche for $46.8 billion. "[Ebersman] was Genentech's CFO while revenue tripled, and his success in scaling the finance organization of a fast growing company will be important to Facebook," said Facebook founder and CEO Mark Zuckerberg.
http://www.facebook.com/press/releases.php?p=108731

Sakhr Software Acquires San Francisco-Based Dial Directions

San Francisco -- Sakhr Software, a Washington, DC-based developer of Arabic speech and language software, said on Tuesday that it has acquired San Francisco-based Dial Directions, a developer of speech recognition technology for mobile devices and services. Financial terms of the deal were not disclosed. Sakhr said that the acquisition will allow it to deliver new technologies to instantaneously translate speech into Arabic. Last year, the two companies teamed to develop technology that allows English and Arabic speakers to speak their native language, hear the audio translation and read the text translation  -- all with an iPhone or Blackberry. "We built a strong working relationship with Sakhr while jointly developing the mobile speech to speech translation product," said Adeeb Shanaa, the CEO of Dial Directions. All of Dial's employees have joined Sakhr, which now has 200 employees. Shanaa will serve as CEO of the combined company, with Fahad Al Sharekh, Sakhr's CEO, becoming chairman. The company currently has more than 100 clients, including the Department of Defense, Department of Homeland Security and Department of Justice.
http://www.sakhr.com 
http://www.dialdirections.com
http://www.businesswire.com/news/home/20090629006246/en

S.F.-Based Game Developer Zynga to Open East Coast Facility

San Francisco -- Zynga, a San Francisco-based developer of social games for platforms such as Facebook, MySpace and the iPhone, said on Tuesday that it will open its first East Coast office in Baltimore, housing 12-15 game designers, web developers, artists and producers. The company said that the office, to be led by newly appointed chief designer Brian Reynolds, will focus on creating social network games with a strategic emphasis. Reynolds, an 18-year industry veteran, played key roles in founding game studios Firaxis Games and Big Huge Games, and his videogames have sold over six million copies worldwide. Zynga's titles include Texas Hold’Em Poker, Mafia Wars, YoVille, Vampires, Street Racing, Scramble and Word Twist. The company last July raised $29 million in a new round of funding, co-led by Kleiner Perkins Caufield & Byers and Institutional Venture Partners (IVP).
http://www.zynga.com
http://www.businesswire.com/news/home/20090630005379/en  

Comcast Begins National Rollout of Wireless Data Service

Philadelphia -- Comcast, the nation's largest provider of cable TV and Internet services, on Tuesday began the nationwide rollout of its high-speed wireless data service in Portland, with other markets such as Atlanta, Chicago and Philadelphia set to launch before year's end. The service, known as Comcast High-Speed 2go, uses wireless data cards to connect users to Clearwire's mobile WiMax network. It follows the company's investment in Clearwire last November. Comcast also is offering a slower nationwide service, running on Sprint's national 3G network. The company is bundling its wired and wireless Internet access together for $49.99 a month for the first year.
http://www.comcast.com/highspeed2go/#/home
http://www.comcast.com/About/PressRelease/PressReleaseDetail.ashx?PRID=887

Cupertino-Based ParAccel Raises $22 Million in Third Round

Cupertino, Calif. -- ParAccel, the Cupertino-based developer of a database management system for data warehousing and analytics, said on Monday that it has raised $22 million in its third round of funding, led by new investor Menlo Ventures. Previous investors Bay Partners, Mohr Davidow Ventures (MDV), Tao Venture Partners and Walden International also participated in the round, which the company will use to expand its product development, sales and marketing and services and support activities. John Jarve, a managing partner with Menlo Ventures, has joined the company's board of directors. ParAccel moved to Cupertino from San Diego after landing $20 million in its second round in late 2007. 
http://www.paraccel.com
http://www.businesswire.com/news/home/20090629005328/en

EMC Extends Tender Offer for Santa Clara-Based Data Domain

Santa Clara, Calif. -- Despite having its unsolicited takeover bid rejected by Santa Clara-based Data Domain two weeks ago, Massachusetts-based EMC on Monday extended its tender offer for the company to July 10. The offer, which so far has seen just 0.28% of the company's shares tendered, had been scheduled to expire at midnight. EMC's $1.9 billion all-cash bid is competing with an alternative cash and stock buyout offer by Sunnyvale-based NetApp, which is being supported by Data Domain's board. Joe Tucci, the chairman, president and CEO of EMC, maintains that his company's offer is superior.
http://www.datadomain.com
http://www.emc.com/about/news/press/2009/20090626-02.htm

San Francisco-Based Grou.ps Raises $1 Million in New Funding

San Francisco - Grou.ps, the San Francisco-based provider of a service that lets users create their own online social networks, has raised $1 million in the second tranche of its first round of funding from Golden Horn Ventures, VentureBeat reported. Grou.ps counts around a million registered users -- 75% outside the U.S. -- who have created 40,000 groups using the service. Features on the niche social networks include wikis, RSS feeds, and templates on which users can build their network.
http://grou.ps
http://digital.venturebeat.com/2009/06/25/groups-comes-together-with-funding-business-models/

San Jose-Based IDT Completes Deal for Tundra Semiconductor

San Jose, Calif. -- Two months after first announcing the deal, San Jose-based Integrated Device Technology (IDT), a developer of mixed signal semiconductor used in digital media, said on Monday that it has completed its $104.4 million acquisition of Canada's Tundra Semiconductor. IDT said that the acquisition of Tundra will add serial switching and bridging technologies to its current mixed-signal portfolio. "We believe that this strategic combination will provide customers with a broader product offering as well as improved service, support and a future roadmap for serial connectivity," said Ted Tewksbury, the president and CEO of IDT.
http://www.tundra.com/  
http://www.IDT.com  
http://www.businesswire.com/news/home/20090629005637/en