SAN FRANCISCO (Reuters) – BP Ventures will continue to expand beyond alternative energy to more mainstream energy investments, said Issam Dairanieh, BP Ventures’ director of global ventures.
The venture arm of the oil and gas giant BP (BP.L: Quote, Profile, Research) made its first refining and processing investment two years ago and its first exploration and production investment last year, Dairanieh told Reuters in a telephone interview.
SAN FRANCISCO (Reuters) – Access to one of California’s most exclusive strips of sand will soon become easier as a Malibu homeowner settles a decade-long legal battle that will result in a paved path to Carbon Beach, better known as “Billionaire’s Beach.”
The mile-long sandy strip boasts beach getaways owned by record mogul David Geffen, former Dodgers Chief Executive Jamie McCourt, and Oracle Chief Executive Larry Ellison. It also has been home to many movie stars, including John Travolta, Courtney Cox and David Arquette. Top architects including Michael Graves and Richard Meier built many of the residences.
SAN FRANCISCO (Reuters) – A prominent Silicon Valley venture capitalist has stepped into the middle of a long-standing controversy over a California tradition: open access to the state’s famed beaches.
In a lawsuit filed this week, the Surfrider Foundation, a coastal protection group, alleges that the owner of a beachfront property south of San Francisco has violated the law by closing an access road that has long been used by local surfers and fisherman to reach a spit of sand called Martin’s Beach.
SAN FRANCISCO, March 8 (Reuters) – Three executive
assistants are suing venture firm CMEA and one of its former
partners for harassment and retaliation, marking the third
lawsuit in less than a year alleging unfair treatment of women
in Silicon Valley’s clubby world of venture capital.
The suit, filed in San Francisco Superior Court of
California last month, alleges then operating partner John Haag
repeatedly made inappropriate sexual comments to the women,
sometimes in front of other partners who mostly did nothing to
stop his behavior.
SAN FRANCISCO, March 8 (Reuters) – Facebook executive
Sheryl Sandberg is taking a drubbing for prescribing from a
privileged perch the keys to female success in her upcoming book
“Lean In,” but she’s struck a chord among many in her backyard.
In her own technology sector, women remain woefully
underrepresented in leadership roles, even more so than in
fields generally considered heavily male-dominated like
financial services. Sandberg’s willingness to tackle the issue
of women and leadership is drawing plaudits from many in Silicon
SAN FRANCISCO, March 7 (Reuters) – Venture capital firm
Matrix Partners said it had hired 28-year-old Jared Fliesler, an
executive at the mobile-payments company Square, as general
Matrix had been talking to Fliesler for about the last year,
said general partner Dana Stadler, who believes Fliesler will be
able to give good advice to early-stage companies, Matrix’s
SAN FRANCISCO, March 5 (Reuters) – Blue-chip venture-capital
firm Kleiner Perkins Caufield & Byers expressed frustration with
poor fund performance and promised to do better at gatherings
for investors last month, according to people familiar with the
The firm, which has lost some of its shine recently due in
part to hefty bets on green energy technology and a lack of
home-run Internet investments, said it would be more careful
with capital and redouble its efforts to boost performance.
Several investors who received invitations to the meetings said
it was unusual for Kleiner Perkins to hold such gatherings when
it was not raising new funds.
SAN FRANCISCO, Feb 28 (Reuters) – Yahoo Chief
Executive Marissa Mayer’s decision to ban telecommuting sparked
outrage around the country, but left many in Silicon Valley
wondering what the fuss was all about.
Working from home is common enough in the Valley, but that
is in addition to – not instead of – the 40-plus hours spent
working in the office. Despite the area’s image as a
freewheeling space that makes much of the technology that allows
people to work remotely, Bay Area workers tend to head into the
office, especially at start-ups.
SAN FRANCISCO, Feb 28 (Reuters) – The word “startup” might
convey a technology-oriented company founded by a 20-something,
but the reality is very different, according to a report from
the Kauffman Foundation and the online service LegalZoom
Most new businesses are founded by people aged 40 and older,
and consulting is the single biggest business category,
according to the report issued on Thursday, which was based on a
survey of new business owners.
SAN FRANCISCO, Feb 26 (Reuters) – Keith Rabois, the
executive whose sudden exit from mobile payments company Square
became the talk of Silicon Valley, will join Khosla Ventures in
March, the firm said on Tuesday.
Speculation has swirled around where Rabois would ultimately
land. He left Square last month, citing legal threats from a
young colleague with whom he had maintained a two-year
relationship. He had served as Square’s chief operating officer