SAN FRANCISCO (Reuters) – When Randy Adams, 60, was looking for a chief-executive officer job in Silicon Valley last year, he got turned down from position after position that he thought he was going to nail — only to see much younger, less-experienced men win out.
Finally, before heading into his next interview, he shaved off his gray hair and traded in his loafers for a pair of Converse sneakers. The board hired him.
SAN FRANCISCO (Reuters) – Chris Dixon, the entrepreneur behind recommendation service Hunch and web-security company SiteAdvisor, will join Silicon Valley venture-capital firm Andreessen Horowitz in January, he and the firm said.
Dixon, 40, has substantial experience with extremely young companies in the “angel” phase. His angel investments have included online phone-service Skype, acquired by eBay; crowdfunding site Kickstarter, and online bulletin board-service Pinterest.
SAN FRANCISCO, Nov 16 (Reuters) – Redpoint Ventures, the
venture-capital firm behind digital-video recording company TiVo
and vacation-rental company HomeAway, is
raising a $400 million fund, according to a person familiar with
The fund comes a year after Redpoint closed on a $400
million growth fund and almost three years after it closed on
SAN FRANCISCO (Reuters) – Shares of Microsoft Corp MSOFT.O slid on Tuesday after the surprise departure of a key executive, who analysts said marks the loss of the driving force behind the company’s biggest product.
The shares were down 2.8 percent in afternoon at $27.21.
Microsoft on Monday night announced the departure of Steve Sinofsky, a 23-year veteran of the company and head of its flagship Windows unit, just two weeks after launching the Windows 8 operating system.
SAN FRANCISCO (Reuters) – Google will increase the cash it allocates to its venture-capital arm to up to $300 million a year from $200 million, catapulting Google Ventures into the top echelon of corporate venture-capital funds.
Access to that sizeable checkbook means Google Ventures will be able to invest in more later-stage financing rounds, which tend to be in the tens of millions of dollars or more per investor.
SAN FRANCISCO (Reuters) – California’s 74-year-old governor, Jerry Brown, engineered a surprise victory for his tax-hike ballot proposition by tapping support at the other end of the age spectrum.
Proposition 30, a temporary $6 billion tax hike, passed with a solid 54 percent approval on Tuesday, driven largely by a higher-than-expected turnout of young voters, pollsters and analysts say.
SAN FRANCISCO (Reuters) – Floating robots to gather storm data, fuel cells for power outages, and tools to choose evacuation routes and help responders stay connected to the Internet are among the innovations that increasingly will help responders deal with future disasters, start-up companies say.
These tools are helping track weather patterns and measure their strength, soften their impact and speed recovery. Many are already proving their worth, not just in massive storm Sandy but in other weather disasters such as Hurricane Isaac and this summer’s extreme drought in the U.S. Midwest.
SAN FRANCISCO, Oct 29 (Reuters) – Stanford University alumni
with entrepreneurial streaks may be particularly well placed to
pay off their $41,250 tuition bills, according to a new report
on venture funding.
Companies run by Stanford alumni raised $4.1 billion across
more than 200 financings in the five years from 2007 to 2011,
according to CB Insights, a consultancy.
SAN FRANCISCO (Reuters) – Venture capitalists are proving a less reliable source of cash for President Barack Obama during this election, according to fundraising data, even though he has raised a record amount of cash overall.
Through September 30, Obama collected $552,758 from these deep-pocketed investors who provide startup money to firms, less than half his total through that time in 2008.
SAN FRANCISCO (Reuters) – The University of California must try to obtain and then disclose closely guarded information on the investment performance of venture capital funds managed by Kleiner Perkins Caufield & Byers and Sequoia Capital, a state judge said in a tentative ruling made public on Tuesday.
The lawsuit, filed earlier this year in California state court in Oakland by Reuters America, a unit of Thomson Reuters Corp, argues that the state Public Records Act requires disclosure of specific investment-return information for the university system’s $10.65 billion endowment fund.