Silicon Valley Wire

Sunnyvale-Based Meru Raises $65.8 Million in IPO; Shares Soar

Sunnyvale, Calif. -- Shares of Sunnyvale-based Meru Networks soared 27% on their first day of trading Wednesday, hours after the developer of wireless networking technology raised $65.8 million in its initial public offering (IPO). The company priced 4.4 million shares at $15 each -- the top of its expected range. Meru, itself, will keep $53.6 million of the proceeds, with selling shareholders keeping the remainder. The company's stock is trading on the Nasdaq Global Market, under the symbol "MERU."
http://www.merunetworks.com/
http://www.merunetworks.com/corporate/press_releases/index.php?articleID=033110

Menlo Park-Based KPCB Doubles iFund to $200 Million

Menlo Park, Calif. -- Kleiner Perkins Caufield & Byers (KPCB), the Menlo Park-based technology venture capital firm, said on Wednesday that it has doubled the size of its iFund -- which backs companies developing apps for Apple's iPhone -- to $200 million. The firm said that the fund, which it launched at $100 million in 2008, is now fully committed across 14 companies. KPCB said that iFund-supported companies have more than 20 apps in development for the soon-to-be-released iPad, with 11 available when the device is released on Saturday. "A new, truly revolutionary platform is rare, and a prize for entrepreneurs," said John Doerr, a partner at KPCB. "We expect all ventures to have an iPad strategy. We will fund many more ventures for iPad, and the iFund will accelerate their success."
http://www.kpcb.com/
http://www.kpcb.com/news/article.php?id=2010_03_31_ifund_doubled

San Jose-Based Covad Communications to Merge with MegaPath

San Jose, Calif. -- Covad Communications, a San Jose-based provider of broadband services to businesses, said on Wednesday that it will merge with Costa Mesa-based MegaPath, which offers managed data, voice and security services. Financial terms of the deal, which requires federal and state regulatory approvals and is expected to close by the end of the third quarter, were not disclosed. Pat Bennett, the CEO of Covad, will continue to serve as CEO of the combined company, while MegaPath CEO Craig Young will serve as executive chairman. "This transaction brings together two industry leaders who will focus on expanding service offerings and distribution channels," said Young. The new company will be jointly owned by current Covad owner Platinum Equity and MegaPath's investors.
http://www.covad.com/
http://www.megapath.com
http://www.covad.com/web/about/newsroom/pressroom/pr_2010/news_release_10-0331.html

San Francisco-Based Socialcast Raises $8 Million in Second Round

San Francisco -- Socialcast, a San Francisco-based developer of instant collaboration software, said on Wednesday that it has raised $8 million in its second round of funding, from Menlo Ventures and True Ventures. The company said that it will use the proceeds to further develop its platform, known as Socialcast Ease, as well as to expand its engineering, marketing, sales and customer deployment teams. Socialcast's software is designed to let a company's workforce collaborate in real time through already-deployed platforms such as Outlook, SharePoint, BlackBerry and iPhone.
http://www.socialcast.com
http://finance.yahoo.com/news/Socialcast-Secures-8-Million-iw-2717793131.html?x=0&.v=1

S.F.-Based Eventbrite Lands Investment from Yelp CEO

San Francisco -- Eventbrite, a San Francisco-based provider of online event planning and invitation services, has received an investment from Yelp CEO Jeremy Stoppelman, PaidContent reported. The amount of the investment was not disclosed. Founded in 2006, Eventbrite has logged more than five million registrations to date, with users of the service promoting over 10,000 new events each month. The company previously raised a third round of funding in November, led by Sequoia Capital -- saying at the time that it had raised over $8 million to date.
http://www.eventbrite.com
http://paidcontent.org/article/419-yelp-founder-stoppelman-invests-in-eventbrite/

San Francisco-Based Prosper.com Closing in on New Funding Round

San Francisco -- Prosper.com, the San Francisco-based developer of an online peer-to-peer lending marketplace, said on Wednesday that it expects to announce its fourth round of funding -- in the range of $13.3-$15.8 million --  no later than April 15. The company has raised a total of $43 million to date, and said that the latest round will come from both new and previous backers. Prosper maintains approximately two-thirds of the U.S. peer-to-peer lending market, with monthly consumer loan demand of $1.8 billion. "As peer-to-peer lending enters the next stage of its evolution, it is clear that the industry will become a third way of banking," said CEO Chris Larsen.
http://www.prosper.com/
http://www.businesswire.com/news/home/20100331005563/en/Prosper-Closing-200-Million-Loans-Series

San Francisco-Based MuleSoft Secures $12 Million in Third Round

San Francisco -- MuleSoft, a San Francisco-based provider of software and services for open source application infrastructure products, said on Tuesday that it has landed $12 million in its third round of funding. SAP Ventures led the round, which also included participation from new investor Bay Partners and previous backers Hummer Winblad Venture Partners, Morgenthaler Ventures and Lightspeed Venture Partners. MuleSoft's software, which includes Mule ESB, Tcat Server, Mule Data Integrator and Mule MQ,  has been downloaded more than 1.5 million times, with over 2,500 production deployments by clients such as Walmart.com, Nestlé, Honeywell and DHL.
http://www.mulesoft.com
http://www.mulesoft.com/mulesoft-raises-12-million-venture-round

Union City-Based Glacier Bay Raises $15 Million in Third Round

Union City, Calif. -- Glacier Bay, a Union City-based developer of power management technology, said on Tuesday that it has raised $15 million in its third round of funding, led by City Light Capital. The Westly Group and New Enterprise Associates (NEA) also participated in the round, which the company will use to fund the growth of climate control system for the trucking industry, known as ClimaCab. The battery-powered auxiliary power system is designed to provide air conditioning and heating during driver rest periods without idling the main truck engine, reducing fuel consumption and greenhouse gas emissions. "This additional capital will go towards expanding ClimaCab sales and creating innovative new products that use our technology," said Marc Hoffman, the CEO of Glacier Bay.
http://www.glacierbay.com
http://www.businesswire.com/news/home/20100330006292/en/Glacier-Bay-Announces-15-Million-Series-Completion

WSJ: Apple Working on New iPhone for Verizon Wireless

Cupertino, Calif. -- Apple may be about to end its exclusive iPhone deal with wireless carrier AT&T, according to a report in The Wall Street Journal. Citing unnamed sources briefed by the company, the paper said that Cupertino-based Apple is working on a new version of the popular device that would run on CDMA networks, which are used by carriers such as Verizon Wireless and Sprint Nextel. It would not be compatible with the GSM network used by AT&T, which has held an exclusive iPhone deal since 2007. One source said that the new devices, to be produced by Taiwan's Pegatron, are scheduled to begin mass production in September. Separately, Apple is expected to release a new version of its GSM iPhone this summer.
http://finance.yahoo.com/news/Apple-may-be-working-on-rb-185965114.html?x=0&.v=3
http://online.wsj.com/article/SB10001424052702304370304575152242601774892.html?mod=WSJ_hpp_LEFTWhatsNewsCollection (subscription required)

Facebook to Replace "Become a Fan" with "Like" Button

Palo Alto, Calif. -- Facebook plans to remove a button that allows users to "Become a Fan" of businesses, instead replacing it with a "Like" button, the company wrote in a memo to advertisers, published by the blog All Facebook. The company said that the move is "part of a larger effort to improve user experience, increase engagement and promote consistency." It is not yet clear whether users of the site will still be able to become fans of non-businesses, such as entertainment figures and productions. Facebook called the action of clicking "Like" a more "light-weight" way for users to connect with a business, and expects the move to spur more connections across the site.  
http://www.allfacebook.com/2010/03/facebook-wants-you-to-like-everything-on-the-web/

Avnet to Acquire San Jose-based Bell Microproducts

San Jose, Calif. -- Avnet, a Phoenix-based distributor of electronic components, computer products and embedded technology, said on Monday that it will pay $252 million in cash to acquire San Jose-based Bell Microproducts, a distributor of storage and computing technology with sales of about $3 billion last year. The deal, expected to close in 60-120 days, values Bell at $594 million, including its net debt. Founded in 1988, Bell has more than 1,900 employees and 55 offices, and sells storage, computing, software and networking products from various suppliers. "We are very excited about the opportunity to build additional scale and scope in storage and computing solutions as well as increase our presence in the fast-growing Latin America market," said Roy Vallee, Avnet's chairman and CEO.
http://www.bellmicro.com
http://www.avnet.com/prl/home/0,1965,RID%253D0%2526CID%253D59118%2526CCD%253DUSA%2526SID%253D9358%2526DID%253DDF3%2526LID%253D9368%2526PVW%253D%2526BID%253DDF3%2526CTP%253DPRL,00.html

Palo Alto-Based Quora Raises $11M for Web Q&A Service

Palo Alto, Calif. -- Quora, the Palo Alto-based developer of an Internet question-and-answer service, has raised $11 million in its first round of funding, led by Benchmark Capital, TechCrunch reported. The round, which additional investors may join, valued the company at $86 million. Founded in 2008, Quora launched its service in private beta in January. The service has since become "one of the hottest private beta tickets in town," according to TechCrunch's Michael Arrington.
http://www.quora.com
http://techcrunch.com/2010/03/28/quora-has-the-magic-benchmark-invests-at-86-million-valuation/

Berkeley-Based SCI Raises $5 Million in First Round

Berkeley, Calif. -- Scientific Conservation Inc. (SCI), a Berkeley-based developer of energy efficiency and system optimization products for the commercial building market, said on Monday that it has raised $5 million in its first round of funding from Draper Fisher Jurvetson. The company also named Russ McMeekin, the former president and CEO of Progressive Gaming International, as its new CEO. He also previously served as the president and CEO of ViaFone. "As a seasoned technology executive who has worked with DFJ for more than a decade in a variety of capacities, we believe Russ will be instrumental in establishing SCI as the leader for building energy management space," said Raj Atluru, the managing director of DFJ.
http://www.scientificconservation.com
http://www.prnewswire.com/news-releases/sci-secures-5-million-in-series-a-funding-with-draper-fisher-jurvetson-ventures---names-russ-mcmeekin-a-seasoned-senior-executive-as-ceo-89387357.html

Report: Apple to Introduce New Targeted Advertising Format

 Cupertino, Calif. -- Apple plans to introduce a new mobile advertising platform that will deliver targeted ads to users of its iPad, iPhone and other devices, MediaPost reported. Possibly nicknamed "iAd," the platform is expected to be announced on April 7, just days after the introduction the Cupertino-based company's iPad tablet computer. The platform is believed to have been built on technology acquired through Apple's purchase of Quattro Wireless for around $300 million several months ago. Various media reports noted that a move into targeted advertising would put Apple up against online ad giant Google, which purchased Quattro-rival AdMob for $750 million last year.
http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=125076
http://www.wired.com/epicenter/2010/03/report-apple-to-unveil-new-ad-format-following-ipad

San Jose-Based NeoMagic Raises $1.25 Million

San Jose, Calif. -- NeoMagic, a San Jose-based developer of multimedia chip technology used in consumer electronics, said on Monday that it has raised $1.25 million through a combination of private financing and the exercise of warrants. The company said that it has landed $190,000 from private investors including Chairman David Tomasello and Andrew Rosengard, a board member who chairs its audit committee. Shareholders Bluestone Financial and Attiva Capital Partners provided the remainder by exercising warrants. "We are excited by the company's growth prospects and initiatives," said Tomasello. "We also still strongly believe that there are potential strategic partnerships that could accelerate the company's growth."
http://www.neomagic.com/
http://phx.corporate-ir.net/phoenix.zhtml?c=70578&p=irol-newsArticle&t=Regular&id=1407370&

Survey: 24% of Americans Connecting MP3 Player to Car Stereo

New York -- Nearly one in four Americans have connected an MP3 player to a car stereo to listen to digital music while driving, according to a survey conducted by Edison Research and radio ratings firm Arbitron. The survey found that 44% of respondents own an MP3 player, and 54% of those have linked the device to a car stereo. "The car is clearly a crucial battleground for people's attention, and our study shows that most of those who do listen in this fashion do so more than once a week," said Larry Rosin, the president of Edison Research.
http://www.arbitron.com 
http://www.edisonresearch.com

Santa Clara-Based OmniVision Acquires San Jose's Aurora Systems

Santa Clara, Calif. -- OmniVision Technologies, a Santa Clara-based developer of digital imaging technology used in mobile phones, notebooks, webcams and digital cameras, said on Friday that it has paid $5 million to acquire San Jose-based Aurora Systems, a supplier of chips used in image projection systems. All employees and executives from Aurora will make the transition. "Their engineering talent and their expertise in image projection technologies are very important to our strategic development," said Shaw Hong, the president and CEO of OmniVision.
http://www.ovt.com
http://www.prnewswire.com/news-releases/omnivision-technologies-inc-completes-acquisition-of-aurora-systems-inc-89193382.html

Sunnyvale-Based MoSys Acquires MagnaLynx for $5 Million

Sunnyvale, Calif. -- MoSys, the Sunnyvale-based developer of semiconductor technology, said on Friday that it has acquired Iowa-based MagnaLynx, a developer of high-speed serial interface technology, for about $5 million. The purchase price includes a milestone payment in 2011. MoSys said that the acquisition adds to its portfolio of high-speed "SerDes" interfaces, as well as communications technology. "In addition to expanding our overall SerDes engineering team, MagnaLynx brings us unique expertise and technology in low-power techniques for high-speed SerDes and considerable experience in enabling serial chip-to-chip communications," said Len Perham, MoSys's president and CEO.
http://www.mosys.com
http://www.mosys.com/investors.php?page=pressRoomtxt&id=1406688

San Mateo-Based Secret Builders Raises $2.3 Million

San Mateo, Calif. -- Secret Builders, the San Mateo-based developer of an online virtual world with educational games, has raised $2.3 million in new funding, VentureBeat reported. Backers include The Entrepreneurs Fund and individual investors. Founded in 2007, Secret Builders counts 1 million registered users and nearly 400,000 unique monthly visitors to its online virtual world. Over 800 schools have partnered with the company and direct students to the site, which features free-to-play games complemented by virtual item buy-ins
http://www.secretbuilders.com
http://games.venturebeat.com/2010/03/26/secret-builders-raises-2-3m-to-expand-educational-virtual-world-for-kids/

Mountain View-Based NetLogic Prices $169.9 Million Offering

Mountain View, Calif. -- NetLogic Microsystems, a Mountain View-based developer of processors used in equipment such as switches, routers, wireless base stations and security appliances, said on Friday that it has priced a stock offering that's expected to raise $169.9 million. NetLogic said that it will sell 5.9 million shares -- including 2.7 million owned by former shareholders of RMI, which the company acquired last year -- for $28.85 each. Proceeds to the company, itself, are expected to be $92.3 million. The news helped drive up shares of NetLogic nearly 4% in Friday's trading on the Nasdaq.
http://www.netlogicmicro.com
http://www.netlogicmicro.com/News/pr/2010/10-03-25.htm

Sunnyvale-Based U-Systems Raises $10 Million in New Funding

Sunnyvale, Calif. -- U-Systems, a Sunnyvale-based developer of automated ultrasound systems used to assist healthcare providers in the early detection of breast cancer, said on Thursday that it has raised $10 million in a new round of funding, led by iD SoftCapital Group. Previous backers Sycamore Ventures, Lumira Capital, Radius Ventures and PIIH also participated. The company said that it will use the proceeds to complete a clinical trial, designed to evaluate whether its automated breast ultrasound system (ABUS),  combined with digital mammography, is more sensitive to detecting breast lesions than mammography alone in women with dense breasts.
http://www.u-systems.com/
http://finance.yahoo.com/news/USystems-Inc-Raises-10M-in-bw-2555684620.html?x=0&.v=1

San Francisco-Based Grid Net Lands Investment from Cisco

San Francisco -- Grid Net, a San Francisco-based developer of smart grid and smart home software platforms for utilities and their customers, said on Thursday that it has received an unspecified equity investment from Cisco, the San Jose-based network equipment giant. The company said that it will use the proceeds to promote its network infrastructure tools, with the goal of creating an energy infrastructure built on open standards that helps utilities more efficiently transmit and distribute electricity. The company's list of partners already includes GE, Intel, Motorola and Clearwire. Grid Net launched its partner program late last year, and plans to grow it "substantially."
http://www.grid-net.com 
http://www.businesswire.com/news/home/20100325005304/en/Grid-Net-Announces-Cisco-Investment

Google Addresses Concerns on Access to Gmail, Apps in China

Mountain View, Calif. -- In the wake of its decision this week to stop censoring search results in China, Mountain View-based Google is addressing concerns that China may block other Google services used by companies, such as Gmail and Google Apps. "We very much hope that the Chinese government respects our decision, though we are well aware that China could at any time block access to our services in mainland China," the company wrote in a blog post. Google also has created a new web page that will monitor the availability of Google Apps in China.
http://snipurl.com/v1h4v
http://www.google.com/appsstatus#hl=en

New Enterprise Associates Tops List of Most Active VC Firms

Menlo Park, Calif. -- New Enterprise Associates (NEA), the Maryland-based venture capital firm focused on IT, healthcare and energy technology, has been the most active venture capital firm so far this year, according to peHub. The list is based on global investment pace by institutional VCs, and does not include angels. NEA has invested in 15 companies this year, leading rounds for One Block Off The Grid and PhaseBio Pharmaceuticals, and in January closed a new $2.5 billion fund. Menlo Park-based Kleiner Perkins Caufield & Byers (KPCB) ranked second (14 deals), followed by Santa Clara-based Intel Capital and Menlo Park-based Redpoint Ventures and Sequoia Capital (13 each). The complete list is available at the link below.
http://www.pehub.com/67063/ten-most-active-vc-firms-of-2010-so-far/

Shares of Petaluma-Based Calix Soar Following $82.3 Million IPO

Petaluma, Calif. -- Shares of Petaluma-based Calix rose more than 16% in their first day of trading Wednesday after the maker of broadband communications access systems and software raised $82.3 million in its initial public offering (IPO). The company priced 6.3 million shares -- including 2.1 million being sold by current stockholders -- at $13 each, the high end of their anticipated range. Calix, itself, will make about $54.2 million, before expense. Founded in 1999, Calix makes equipment that lets communications service providers connect to their residential and business subscribers. The company has shipped its products to more than 500 customers, whose networks serve over 32 million subscriber lines. Its stock is now trading on the New York Stock Exchange, under the symbol "CALX."
http://www.calix.com/
http://www.calix.com/news/press_releases/press_release_20100324.html

San Jose-Based OCZ Technology Group Raises $15.45 Million

San Jose, Calif. -- OCZ Technology Group, a San Jose-based developer of memory and flash-based storage designed as an alternative to hard disk drives, said on Wednesday that it has raised $15.45 million, selling nearly 5.2 million shares to several institutional investors. The company said that it will use the proceeds to support its growing solid state drive (SSD) business. "This round of funding will enable OCZ to continue its growth in SSDs and accelerate the development of next-generation solutions," said CEO Ryan Petersen in a statement. Founded in 2002, OCZ said that it currently has more than 300 clients.
http://www.ocztechnology.com
http://www.ocztechnology.com/aboutocz/press/2010/367

Menlo Park-Based Allocade Raises $5 Million from VantagePoint

Menlo Park, Calif. -- Allocade, a Menlo Park-based developer of healthcare software, said on Wednesday that it has raised $5 million in a new round of funding, led by VantagePoint Venture Partners. The company said that it will use the proceeds to meet the increased demand for its On-Cue software, designed to help hospital caregivers manage patient flow logistics. "The financing will enable us to aggressively expand our sales and marketing efforts, as well as our research and development to meet the demands from new customers, " said Rick Smith, the president and CEO of Allocade.
http://www.allocade.com
http://www.marketwire.com/press-release/Allocade-Secures-5M-From-VantagePoint-Venture-Partners-Expand-Sales-RD-Efforts-Healthcare-1137015.htm

Computer Science Majors Sharply Increase for Second Straight Year

Washington, DC -- The number of undergraduate students majoring in computer science significantly increased for the second year in a row, according to a new report from the Computing Research Association (CRA). Total enrollment by majors in computer science is up 5.5% from 2009 levels, and now has risen 14% over the past two years. The upward trend reverses the steep decline experienced in computer science enrollment during the 2000s. "This upward surge proves that computer science is cool again," said Eric Grimson, chair of the CRA. "Computers, smartphones and online social networks are a daily part of young people's lives. It should come as no surprise that today's students want to learn more about computing."
http://www.cra.org/
http://www.prnewswire.com/news-releases/computer-science-majors-significantly-increase-for-the-second-year-in-a-row-89006707.html

Spain's Abiquo Launches in Redwood City with $5.1 Million in Funding

Redwood City, Calif. – Abiquo, a Spain-based developer of infrastructure management software for cloud computing, said that it has launched U.S. headquarters in Redwood City with $5.1 million in new funding. The funding includes investments by Spain's Nauta Capital and Caja Navarra, as well as $1.5 million in grants and loans from the state of Catalonia and the federal government of Spain. Angel investors contributed the remainder. The company had been operating in semi-stealth mode from its founding location in Barcelona. Now, it plans to rapidly expand its worldwide presence, grow its executive and sales and marketing teams—based in Redwood City -- and increase its product development. The company also announced the appointment of Trevor Chamberlain as its vice president of business development. He previously held the same role at PSS Systems.
http://www.abiquo.com
http://www.businesswire.com/news/home/20100323005531/en/Abiquo-Opens-U.S.-Headquarters-5.1-Million-Funding

San Jose-Based NetEnrich Acquires Simply Continuous

San Jose, Calif. – NetEnrich, a San Jose-based provider of information technology services designed to help businesses manage their IT infrastructure, said on Tuesday that it has acquired San Francisco-based Simply Continuous, a provider of backup and disaster recovery services. Financial terms of the deal were not disclosed. Simply Continuous will continue to operate as a subsidiary of NetEnrich. "Cost-effective yet comprehensive backup and disaster recovery solutions will augment the NetEnrich suite of IT infrastructure and monitoring services greatly," said Raju Chekuri, the founder and CEO of NetEnrich. The two companies had previously partnered.
http://www.netenrich.com
http://www.simplycontinuous.net/
http://finance.yahoo.com/news/NetEnrich-Acquires-Simply-prnews-233616134.html?x=0&.v=1

Los Gatos-Based Roving Networks Acquires Wi-Fi Technology from G2

Los Gatos, Calif. -- Roving Networks, a Los Gatos-based developer of embedded Wi-
Fi technology, said on Tuesday that it has acquired the assets and manufacturing rights to Campbell-based G2 Microsystems' ultra-low power Wi-Fi system-on-chip (SOC) technology. Financial terms of the deal were not disclosed. Roving said that the acquisition will broaden its markets and expand its customer base with a new class of wireless LAN products. The two companies have been long-time development partners. "We are very excited about the many new opportunities this acquisition creates,”" said Michael Conrad, the CEO of Roving Networks. "It's possible to build entire products such as Wi-Fi sensors, data acquisition and control systems at ultra low power levels and without need for additional hardware resources." Several key G2 engineers have joined Roving.
http://www.rovingnetworks.com
http://www.g2microsystems.com/
http://www.businesswire.com/news/home/20100323005779/en/Roving-Networks-Acquires-G2-Microsystems-Wi-Fi-Technology

Santa Clara-Based Aerohive Networks Lands $23.5M in Third Round

Santa Clara, Calif. – Aerohive Networks, a Santa Clara-based developer of wireless architecture that eliminates the need for network controllers, said that it has raised $23.5 million in its third round of funding. Participants included both new and previous backers. Previous investors have included Kleiner Perkins Caufield & Byers, Lightspeed Venture Partners, and Northern Light Venture Capital. The company, which now has raised $47.5 million since its inception in 2006, said that it will use the proceeds to expand its sales and marketing activities, as well as continue the development of its wireless LAN technology.
http://www.aerohive.com
http://www.aerohive.com/company/press_events/2010/100322.html

Fremont-Based Offerpal Media Acquires Palo Alto's Tapjoy

Fremont, Calif. – Offerpal Media, the Fremont-based developer of a virtual currency platform for online games, virtual worlds and social networks, said on Tuesday that it has acquired Palo Alto-based Tapjoy, creators of a similar platform targeting mobile devices. Financial terms of the deal were not disclosed. Offerpal said that the acquisition hastens its expansion into the rapidly growing mobile market. "There are more than 200 million mobile phone users in the U.S. alone, and most of them will soon have a way to play games on their devices," said George Garrick, the chairman and CEO of Offerpal. "We also expect the microtransaction model to move beyond games." Tapjoy's platform enables mobile developers to embed virtual goods storefronts with the ability to process microtransactions. Tapjoy founders Lee Linden and Ben Lewis, who originally developed iPhone applications such as TapDefense, TapSudoku and TapWord, will join Offerpal in unspecified leadership roles.
http://www.offerpalmedia.com
http://www.tapjoy.com/
http://www.prnewswire.com/news-releases/offerpal-media-acquires-leading-mobile-monetization-provider-tapjoy-88903182.html

Survey: More Internet Users Considering Buying iPad Than Kindle

Reston, Va. – Though Cupertino-based Apple's new iPad tablet computer won't be available for purchase until April 3, 15% of Internet users said that they plan to seriously consider purchasing the device in the next three months, according to a new study by comScore. That's 1% more than those considering buying the Amazon Kindle e-reader. And while Apple has touted the iPad's ability to serve as an e-reader, the majority of potential owners said that they would use the device for other purposes. Instead, nearly half indicated a high likelihood of using it to browse the Internet and check email, while more than a third said that they would use it to listen to music, maintain a contact list or watch videos. Overall, nearly 70% of those surveyed have conducted online research into the iPad and Kindle. "The tablet and e-reader market is developing at a breakneck pace right now, and Apple's entry into the market is sure to accelerate mainstream consumer adoption," said Serge Matta, an executive vice president at comScore. "These devices have the potential to be incredibly disruptive to the way consumers currently access digital content."
http://www.comscore.com/index.php/layout/set/popup/Press_Events/Press_Releases/2010/3/comScore_Releases_Results_of_Study_on_Apple_iPad

Kana Names Mark Duffell to Replace Michael Fields as CEO

Menlo Park, Calif. – Kana Software, a Menlo Park-based developer of software tools designed to improve customer service, on Monday named Mark Duffell as its new president CEO. He replaces Michael Fields, who is stepping down for health reasons, and will become non-executive chairman of the board. Fields had led the company for four years, "I have decided that the best thing for me and my family is to follow medical advice and focus on getting better," said Fields. Duffell previously worked with Accel-KKR, serving as operational advisor on the private equity firm's purchase and privatization of Kana. He also previously served as the president and COO of Epicor Software.
http://www.kana.com
http://www.marketwire.com/press-release/KANA-Announces-Appointment-Mark-Duffell-as-CEO-Michael-Fields-as-Chairman-Board-1135204.htm

South San Francisco-Based Nodality Raises $15.5 Million

South San Francisco – Nodality, a South San Francisco-based biotechnology firm developing personalized medicine tests for cancer and autoimmune disease, said on Monday that it has raised $15.5 million in a new round of funding. The round was co-led by Pfizer Ventures and Laboratory Corporation of America, with previous backers Kleiner Perkins Caulfield & Byers, TPG Biotechnology and Maverick Capital also participating. The company said that it will use a portion of the proceeds to support commercial activities associated with the launch of its first test in acute myelogenous leukemia.
http://www.nodality.com
http://finance.yahoo.com/news/Nodality-Completes-155-bw-1032041052.html?x=0&.v=1

Milpitas-Based Intersil to Acquire Techwell for $370 Million

Milpitas, Calif. – Intersil, a Milpitas-based maker of analog and mixed signal semiconductors, said on Monday that it will acquire San Jose-based Techwell, a designer of mixed signal video chips for the security surveillance and automotive infotainment markets, through a cash tender offer worth approximately $370 million. Intersil will pay $18.50 a share under the deal. Techwell, which has more than 200 employees in the U.S., China, Japan, South Korea and Taiwan, sells products that convert analog video signals to digital form and also perform advanced digital video processing. Its chips are found in DVRs networked video recorders, multiplexers and automotive front consoles, "Techwell's team and products will expand our leadership in two high-growth industrial markets," said Dave Bell, Intersil's president and CEO.
http://www.intersil.com
http://www.techwellinc.com
http://finance.yahoo.com/news/Intersil-to-Acquire-Techwell-iw-2569002194.html?x=0&.v=1

Google Shifts Chinese Search Engines to Hong Kong Servers

Mountain View, Calif. -- Hoping to circumvent censorship issues with the Chinese government, Mountain View-based Google on Monday began redirecting its users in that country to uncensored search sites based in Hong Kong. The company has been wrestling with ways to deliver its services in China, which has insisted that Google self-censor its results, as mandated by law. "We believe this new approach of providing uncensored search in simplified Chinese from Google.com.hk is a sensible solution to the challenges we've faced -- it's entirely legal and will meaningfully increase access to information for people in China," wrote David Drummond, Google's senior vice president of corporate development and chief legal officer, in a blog post. "We very much hope that the Chinese government respects our decision, though we are well aware that it could at any time block access to our services." The company said that it plans to continue its research and development work in China, as well as maintain a sales presence in the country. Google announced on Jan. 12 that it and more than 20 other U.S. companies had been the victims of a sophisticated cyber attack originating from China. The company said that the attacks, as well as attempts over the past year to limit free speech on the web in China, "led us to conclude that we could no longer continue censoring our results on Google.cn."
http://googleblog.blogspot.com/2010/03/new-approach-to-china-update.html

Pleasanton-Based IronPlanet Files for $92 Million IPO

Pleasanton, Calif. -- IronPlanet, the Pleasanton-based developer of an online marketplace for used heavy equipment, has filed with the Securities and Exchange Commission (SEC) to raise up to $92 million in its initial public offering (IPO). The company, which plans to list its stock on the Nasdaq under the symbol "IRON," has yet to disclose details of the offering, such as the number of shares to be sold or their expected price range. Last year, IronPlanet connected more than 1,600 unique sellers to over 7,600 unique buyers, who bought approximately 30,000 individual pieces of equipment.
http://www.ironplanet.com/
http://www.sec.gov/Archives/edgar/data/1481441/000095012310026056/f55123orsv1.htm

Mountain View-Based Plastic Jungle Raises $7.4M in Second Round

Mountain View, Calif. – Plastic Jungle, the Mountain View-based developer of an online gift card exchange, said on Friday that it has raised $7.4 million in its second round of funding, led by new investor Redpoint Ventures. Previous backers Shasta Ventures, First Round Capital and Bay Partners also participated. The company, which also raised $6 million in March 2009, plans to use the latest funding to grow its business, which aims to liquidate the estimated $30 billion in unused gift cards. The service allows users to get cash for unwanted gift cards for up to 92% of the unused balance, as well as buy gift cards at up to a 30% discount. Plastic Jungle said that it saw 450% year-over-year revenue growth this past holiday season. "Our growth this past year proves that we are filling a significant gap in the retail economy allowing retailers to drive enormous incremental value from their already successful gift card programs," said CEO Gary Briggs. "With this new investment we’ll be able to execute our vision more quickly."
http://www.plasticjungle.com
http://finance.yahoo.com/news/Plastic-Jungle-Raises-74-bw-3965402667.html?x=0&.v=1

Report: Google May Exit China on April 10, to Detail Plans Monday

Mountain View, Calif. -- Google may opt to exit the Chinese market on April 10, according to an unnamed sales agent quotes by China Business News. "We've gotten news saying Google will leave China on April 10, but this piece of news has not yet been confirmed by the Google side," wrote China Business News reads, according to a translation published in The Wall Street Journal. The report also cited an unnamed employee of Google China as saying that the company would announce its intentions with respect to China on Monday. The company announced that it would stop censoring its search results in China -- a requirement by the Chinese government -- and consider leaving the country following hacker attacks on Gmail accounts that originated from the country.
http://www.marketwatch.com/story/google-to-announce-china-plans-monday-report-2010-03-18?reflink=MW_news_stmp
http://www.yicai.com/news/2010/03/323510.html

S.F.-Based Francisco Partners Completes Deal for QuadraMed

San Francisco -- Francisco Partners, a San Francisco-based private equity firm focused on technology, said on Friday that it has completed its $126 million acquisition of QuadraMed, a Virginia-based provider of information technology services to the healthcare industry. The all-cash deal, which takes QuadraMed private, was first announced in December. QuadraMed, now a subsidiary of Francisco, will maintain its Reston headquarters, as well as its operations at various offices throughout the U.S. The company’s stock will no longer be listed on the Nasdaq Global Market.
http://www.quadramed.com
http://phx.corporate-ir.net/phoenix.zhtml?c=81676&p=irol-newsArticle&ID=1403883&highlight=

S.F.-Based World Golf Tour Lands $10 Million for Online Game

San Francisco -- World Golf Tour (WGT), the operator of a virtual online golf game, has raised $10 million in its third round of funding, led by JAFCO Ventures, VentureBeat reported. Previous investors Panorama Capital and Battery Ventures, also participated. Founded in 2007, WGT will use some of the funds for expansion overseas, as well as to develop a version of its online game for Facebook.  The free-to-play game, which counts around 500,000 active monthly users, generates revenue through the sale of virtual items, like branded golf clubs and balls. WGT also said that it has signed a long-term deal with the U.S. Golf Association. Under the agreement, the USGA will recognize WGT as the exclusive platform provider for its virtual golf championships.
http://www.wgt.com
http://www.wgt.com/news/
http://games.venturebeat.com/2010/03/16/world-golf-tour-raises-10m-as-it-expands-overseas-and-explores-social-games/ 

Mountain View-Based Playdom Invests $5M in Argentina's MetroGames

Mountain View, Calif. -- Playdom, a Mountain View-based publisher of social games that recently raised $43 million in financing, has invested $5 million in the first round of funding for MetroGames, a developer of social games based in Argentina. MetroGames counts more than 30 games across Facebook and its own web site. The company will use the funds to expand its pipeline of game development, and to further develop its Metrogames.com site. John Pleasants, Playdom's CEO, has joined the company's board of directors. "MetroGames has a proven track record for developing very appealing social games, so we are convinced that with Playdom's help they will become a big player in the social gaming market," said Pleasants.
http://www.playdom.com
http://www.metrogames.com
http://www.prnewswire.com/news-releases/playdom-fuels-metrogames-plans-for-explosive-growth-87860757.html

Palo Alto-Based Hercules Commits $52M to Nine Companies

Palo Alto, Calif. -- Hercules Technology Growth Capital, a Palo Alto-based specialty finance firm, said on Thursday that it has committed over $52.0 million in structured debt financing to new and existing portfolio companies. New financings include $8 million to Manhattan Beach-based Intelligent Beauty and $15.7 million to an undisclosed California-based healthcare provider focusing on children's health. In addition, the firm said that it has committed $28.3 million to seven portfolio companies. The funds don't include $25 million in financing for Velocity Technology Solutions, announced last week. "With these recent new commitments, we are further diversifying our portfolio by stage and industry sector," said Manuel Henriquez, the chairman and CEO of Hercules.
http://www.htgc.com
http://www.businesswire.com/news/home/20100318005390/en/Hercules-Technology-Growth-Capital-Announces-Additional-Commitments

AOL Launches $10M Venture Fund for "Local" Start-ups

New York -- AOL said that it has launched a $10 million dedicated venture capital fund, which will invest in start-ups in the "local" space. The fund, which will operate out of the company's AOL Ventures investment arm, will target start-ups "fundamentally improving the local experience for consumers, businesses, governments and organizations throughout the world." The company also announced plans to "aggressively expand its Patch hyperlocal news service, currently available in 40 communities, and re-launch its City's Best rankings in 25 major U.S. metro areas. In addition, AOL said that it plans to increasingly incorporate local content into its AOL.com homepage, using intuitive geo-targeting technology to tailor information to users' locations. "Local is the one area of the Internet that has not been built out in an extensive way," said Tim Armstrong., AOL's chairman and CEO. "While there are companies in the local space, AOL has the technology to digitize the local space at scale.  We believe it's an untapped market for the most part and one of the largest commercial opportunities online that has yet to be won."
http://corp.aol.com/press-releases/2010/03/aol-expand-hyper-local-presence-and-relaunch-citys-best-2010
http://www.cnbc.com/id/35916168 (CNBC Interview)

State Launches $30M Loan Program for Clean Energy Manufacturers

Sacramento -- A new state program will provide more than $30 million in low-interest loans to California companies creating or retaining jobs in clean energy technology. The Clean Energy Business Financing Program (CEBFP), supported by funds from the American Recovery and Reinvestment Act, will allow companies to apply for $50,000-$5 million in funds to manufacture eligible energy efficiency or renewable energy products, components, systems or technologies. Applicants can apply for the loans starting March 29 at the top link below.
http://www.energy.ca.gov/recovery/cleanenergy.html
http://www.energy.ca.gov/releases/2010_releases/2010-03-17_clean_energy_business_financing.html

Sunnyvale-Based Yahoo to Acquire S.F.-Based Citizen Sports

Sunnyvale, Calif. -- Confirming a flurry of rumors about the deal, Sunnyvale-based Yahoo said on Wednesday that it will acquire Citizen Sports, a San Francisco-based developer of sports apps and games for the iPhone and Facebook platforms. Financial terms of the deal, expected to close by midyear, were not disclosed. Founded in 2004 by Mike Kerns and Jeff Ma in 2004, Citizen Sports is the developer of the popular Sportacular iPhone app, as well as several other fantasy sports games and Facebook apps. "Sports has been among the earliest online categories to experience rapid social proliferation, and the combination of Citizen Sports leading products with our world-class sports experience on Yahoo Sports is a win-win for sports fans globally," said Bryan Lamkin, the senior vice president of Yahoo's Consumer Products Group.
http://www.citizensportsinc.com/
http://yhoo.client.shareholder.com/press/releasedetail.cfm?ReleaseID=452804

Santa Clara's LucidLogix Raises $8 Million in New Funding

Santa Clara, Calif. -- LucidLogix Technologies, an Israeli developer of processors designed to improve visual computing in business and gaming applications, said on Wednesday that it has landed $8 million in new funding from previous backers Rho Ventures, Giza Venture Capital and Genesis Partners. The company, which bases its sales and marketing operations in Santa Clara, now has raised $40 million since its inception. It plans to use the latest funds to enhance sales support, accelerate market penetration of current products and expand research and development activities.  Lucid targets its graphics technology to motherboards and add-in boards for desktops and mobile platforms.
http://www.lucidlogix.com/
http://www.lucidlogix.com/download/PR%20Salegrowth_add_investment%20031610.pdf (PDF)

Netflix Settles with FTC Over Privacy, Cancels Contest Sequel

Los Gatos, Calif. -- Netflix, the Los Gatos-based online DVD rental service, has settled a lawsuit related to the disclosure of customer data for its Netflix Prize contest for developers, and announced that it will abandon plans to host a sequel to the contest. The first contest awarded $1 million to developers who were able to improve the accuracy of Netflix's movie recommendations feature by 10%. At the time of the award, the company announced a sequel contest that would provide developers with what it said was anonymous usage data from subscribers. Netflix said that soon after the announcement, the Federal Trade Commission (FTC) began asking questions about how the disclosure might affect customers' privacy, and a class action lawsuit was filed against the company over the matter. "We have reached an understanding with the FTC and have settled the lawsuit with plaintiffs," Neil Hunt, Netflix's chief product officer, wrote on the company's blog. "The resolution to both matters involves certain parameters for how we use Netflix data in any future research programs."
http://blog.netflix.com/2010/03/this-is-neil-hunt-chief-product-officer.html