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The Funded: Two big shutdowns, 3 IPO filings and a Walmart acquisition
A pair of high-profile, venture-backed companies from San Francisco have shut down in recent days. Path Inc., a mobile social networking company founded by former Facebook product manager Dave Morin and ex-Napster founders Dustin Mierau and Shawn Fanning, announced its end on Monday. The original idea was to limit each user to to just 50 friends and provide a more private alternative to Facebook. The friend restriction was later removed and the service peaked at around 15 million users with…
Heidi Fleiss wants Amazon to let parrots live in the Spheres
The so-called “Hollywood madam” has a request for Amazon – let rescued parrots live in the company’s “urban jungle” in downtown Seattle.
Ex-Voya CEO joins Bellevue-based cannabis investor group’s advisory board
Maliz Beams is joining the board of the company cofounded by Ed Harris, a former senior member at Paul Allen’s Vulcan Ventures. Cannabis Investment Network is developing an online platform to connect marijuana entrepreneurs and investors.
This cancer-fighting biotech sped from startup to IPO filing in 10 months
The team that took Kite Pharma from a startup re-engineering a patient’s own cells to fight cancer to a $12 billion buyout now is seeking a $100 million initial public offering for the South San Francisco company it launched only 10 months ago. Arie Belldegrun and David Chang co-founded Allogene Therapeutics Inc. to develop off-the-shelf cells derived from healthy donors that could be used in a variety of cancer patients. And in moving quickly, Allogene has relied on friends in key places, including…
S.F. drone startup aborts mission after exhausting $118 million in funding
San Francisco-based Airware, once sky high with ambition, has halted operations, despite pumping $118 million of investment into its drone operating system. The aerial intelligence company told employees Friday that it would shutter immediately, running out of cash flow “after trying to manufacture its own hardware that couldn’t compete with drone giants like China’s DJI,” TechCrunch reports. Top investors in the startup included Andreessen Horowitz, Google’s GV and Kleiner Perkins. The…
Anaplan files to go public after snagging ex-Tesla exec as finance chief
San Francisco-based Anaplan filed an IPO prospectus on Friday. The software company joins the growing number of Bay Area tech enterprises filing to go public this year, including SurveyMonkey, DocuSign and Zuora. Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC are leading the offering, with the number of shares and price range yet to be determined. Founded in 2006, the company, which provides business planning software in the cloud, now has more than 20 offices worldwide, 175 partners and…
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