*socaltech.com <http://socaltech.com> TechNews - Wednesday, June 29, 2022* Edited by Benjamin F. Kuo ISSN: 1524-6736 http://www.socaltech.com/News <https://www.socaltech.com/News> ------------------------------
*Sponsored By * Tech vs. Media Podcast (https://link.chtbl.com/aKC6DpJG) Pacific Western Bank, Venture Banking Group (http://www.pacwest.com/lending-solutions/venture-lending) Stubbs Alderton Markiles, LLP (http://www.stubbsalderton.com). Business. Technology. Law. Vision. KPMG (http://home.kpmg/us/en/home/about/offices/los-angeles-1.html) Level up with KPMG ------------------------------ *Headlines * - Snapchat Launches New, Paid, Feature Called Snapchat Plus <#0082649> - Clearlake Portfolio Firm Makes Acquisition <#0082647> - MaxLinear Crosses Hurdle in Silicon Motion Acquisition <#0082646> - AEG Names Chief Information Officer <#0082648> - Viasat Shuffles CEO <#0082650> - Backstage Capital Axes Employees, Pauses Investments <#0082645> *Marketplace* - Apply For KPMG's 2nd Annual Global Tech Innovator Competition <#ad793> - Pacific Western Bank, Venture Banking Group <#ad749> - IP Protection for Technology and Business - SoCal IP Law Group LLP <#ad750> *Wednesday, June 29, 2022* *Accelerating Growth For Early Stage Innovation. <http://www.preccelerator.com>* The Preccelerator® Program is an accelerator for early-stage startups offered to select companies out of the Santa Monica office of Stubbs Alderton & Markiles, LLP that provides initial capital, sophisticated legal services, interim office space, mentorship, a targeted curriculum, investment strategy counseling and access to a strategic perks portfolio with the objective of helping you grow your idea from business concept to funded startup. www.preccelerator.com *Snapchat Launches New, Paid, Feature Called Snapchat Plus* <https://www.socaltech.com/fullstory/0082649.html> Los Angeles-based Snapchat says it has released a new set of experimental, pre-release, and "exclusive" new features for its users, which it is selling for $3.99 a month to users in the United States, Canada, the United Kingdom, France, Germany, Australia, New Zealand, Saudi Arabia, and the United Arab Emirates. The company said the features are aimed at its "most passionate" members of its community. (More... <https://www.socaltech.com/fullstory/0082649.html>) *Clearlake Portfolio Firm Makes Acquisition* <https://www.socaltech.com/fullstory/0082647.html> Santa Monica-based private equity investor Clearlake Capital Group said today that one of its portfolio companies, FloWorks International, has acquired netMercury. FloWorks is a provider of specialty flow control distribution products; netMercury provides parts and services to the integrated circuit fabrication and technology industry. Financial terms of the acquisition were not announced. (More... <https://www.socaltech.com/fullstory/0082647.html>) *MaxLinear Crosses Hurdle in Silicon Motion Acquisition* <https://www.socaltech.com/fullstory/0082646.html> Carlsbad-based MaxLinear said on Tuesday that it the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired, clearing the company's proposed acquisition of Silicon Motion. MaxLinear said it will pay $93.54 in cash and 0.388 shares of its common stock for each American Depositary Share (ADS) of Silicon Motion Technology Corporation, and $23.385 in cash and 0.097 shares of MaxLinear common stock for ordinary shares. (More... <https://www.socaltech.com/fullstory/0082646.html>) *AEG Names Chief Information Officer* <https://www.socaltech.com/fullstory/0082648.html> Los Angeles-based *AEG <https://www.aegworldwide.com>*, the company behind Crypto.com Arena, L.A. LIVE, the LA Kings, LA Galaxy and other entertainment properties, says it has named David Jones as Chief Information Officer of the company. The new position will put Jones in charge of the company's technology strategy and solutions. Jones was previously CIO for AEG Europe, and is based in London.(More... <https://www.socaltech.com/fullstory/0082648.html>) *Viasat Shuffles CEO* <https://www.socaltech.com/fullstory/0082650.html> Carlsbad-based satellite connectivity provider *Viasat <https://www.viasat.com>* said this morning that it its co-founder and Executive Chairman, *Mark Dankberg*, will return as Chairman and CEO of the company. The company said its current President and CEO, Rick Baldridge, will shift to become Vice Chairman of the company. According to the company, Baldridge will focus on the remaining steps to closing the Inmarsat acquisition. Dankberg co-founded Viasat in 1986.(More... <https://www.socaltech.com/fullstory/0082650.html>) *Backstage Capital Axes Employees, Pauses Investments* <https://www.socaltech.com/fullstory/0082645.html> Los Angeles-based Backstage Capital has laid off nine employees, and is pausing new investments. The firm's founder, Arlan Hamilton, announced the layoffs and pause in investments on a podcast on Sunday. The fund had been aimed at funding underrepresented startup founders. Unusually, the venture fund also had been attempting to crowdraise a new fund from general investors. (More... <https://www.socaltech.com/fullstory/0082645.html>) *Apply For KPMG's 2nd Annual Global Tech Innovator Competition <https://www.meridianwest.eu.com/jfe/form/SV_bdbdMpeNgxOQUqa>* KPMG's 2nd Annual Global Tech Innovator Competition Requirements to participate: US based tech or a tech-enabled business that has been actively operating for 5 years or less (in current form) Revenue generating between $1-15M; or have raised at least $500k in equity Available to virtually pitch at a regional and national final event (if selected) Available to pitch at the global final at Web Summit in Lisbon, Portugal in November 2022 (if selected) There is no cost! We recognize that innovative technology companies in the U.S. are introducing tech breakthroughs that are transforming businesses and disrupting entire industries. It’s why we’re so excited to be introducing the second annual KPMG Private Enterprise Tech Innovator competition in the U.S. to recognize the fastest‑growing tech innovators across the country. If you know a business that has what it takes to be the next KPMG Private Enterprise Tech Innovator in the U.S.—encourage them to submit an application now. *Pacific Western Bank, Venture Banking Group <http://www.pacwest.com/lending-solutions/venture-lending>* Pacific Western Bank is a commercial bank with over $40 billion in assets and 69 full-service branches primarily located in California, with one in Durham, NC and another in Denver, CO. Our Venture Banking Group offers a comprehensive suite of financial services focused on entrepreneurial and venture-backed businesses and their capital and private equity investors. For more information, visit http://www.pacwest.com/lending-solutions/venture-lending, or reach out to Britt Nelson at [email protected]. *IP Protection for Technology and Business - SoCal IP Law Group LLP <http://www.socalip.com>* Patents. Trademarks. Copyrights. Trade Secrets. IP Filings. IP Strategy. IP Litigation. IP Transactions. US and Worldwide. Offices in Westlake Village and Santa Barbara. [email protected] www.socalip.com ------------------------------ *Recent Funding <#funding>* 6/16/22 Metropolis Technologies, Inc. <https://www.socaltech.com/intelligence/?action=showdeal&id=103223> Venice $167.00 M 6/14/22 Overair <https://www.socaltech.com/intelligence/?action=showdeal&id=103222> Santa Ana $145.00 M 5/11/22 PrismPop <https://www.socaltech.com/intelligence/?action=showdeal&id=103221> Pasadena $5.00 M 5/09/22 AskGene <https://www.socaltech.com/intelligence/?action=showdeal&id=103220> Camarillo $20.00 M 5/02/22 LinearB <https://www.socaltech.com/intelligence/?action=showdeal&id=103219> Santa Monica $50.00 M 4/15/22 Obsidian Security <https://www.socaltech.com/intelligence/?action=showdeal&id=103217> Newport Beach $90.00 M 4/14/22 Welcome Tech <https://www.socaltech.com/intelligence/?action=showdeal&id=103216> Los Angeles $30.00 M 4/12/22 Studio <https://www.socaltech.com/intelligence/?action=showdeal&id=103214> Los Angeles $50.00 M 3/23/22 Gamefam <https://www.socaltech.com/intelligence/?action=showdeal&id=103212> Los Angeles $25.00 M 3/23/22 Subject <https://www.socaltech.com/intelligence/?action=showdeal&id=103213> Los Angeles $29.40 M 3/10/22 Menlo Microsystems, Inc. <https://www.socaltech.com/intelligence/?action=showdeal&id=103211> Irvine $150.00 M 3/10/22 Slingshot Aerospace <https://www.socaltech.com/intelligence/?action=showdeal&id=103210> El Segundo $25.00 M 2/22/22 Fama Technologies, Inc. <https://www.socaltech.com/intelligence/?action=showdeal&id=103209> Los Angeles $10.00 M 2/17/22 Voila <https://www.socaltech.com/intelligence/?action=showdeal&id=103207> Los Angeles $6.00 M ------------------------------ *Upcoming Events* Submit your events at least two weeks in advance to: http://www.socaltech.com/submitevent.html ------------------------------ *Recent Job Postings * More jobs at http://www.socaltech.com/Jobs ------------------------------ ------------------------------ *Sponsored By * Stubbs Alderton Markiles, LLP (http://www.stubbsalderton.com). Business. Technology. Law. Vision. KPMG (http://home.kpmg/us/en/home/about/offices/los-angeles-1.html) Level up with KPMG Email [email protected] for more information about sponsoring this newsletter. ------------------------------ You are receiving this email because you subscribed to the socalTECH.com TechNews from our web site, or otherwise requested a subscription. If you do not want to receive this newsletter go to: http://listserv.socaltech.com/mailman/listinfo/socaltech or email us at [email protected] ------------------------------ Legal Notices ---- While SOCALTECH LLC has used its best efforts in collecting and preparing the information published herein, SOCALTECH LLC does not assume, and hereby disclaims, any liability for any loss or damage caused by errors or omissions, whether such errors or omissions resulted from negligence, accident or other causes. All contents Copyright (c) 2017 SOCALTECH LLC. 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