Sarah's Feed
Jul 31, 2012

Oakland leaders urge broad battle with Goldman Sachs

SAN FRANCISCO, July 31 (Reuters) – Oakland leaders took
their financial troubles to the doorstep of Goldman Sachs on
Tuesday, urging other cities to join them in fighting a bank
that has become a lightning rod for criticism of the U.S.
financial system.

Oakland is trying to get out of a Goldman-brokered interest
rate swap that is costing the cash-starved city some $4 million
a year. The swap, entered into 15 years ago as part of a bond
sale to hedge against rising interest rates, has turned sour for
Oakland now that interest rates are near zero.

Jul 27, 2012

Analysis: Internet stock collapse dents Silicon Valley

SAN FRANCISCO (Reuters) – Social media companies, once hailed by their Silicon Valley boosters as world-changing businesses with limitless potential, are instead proving a sobering reminder of how investors can be seduced by Internet hype.

With few exceptions, the first wave of social media firms to trade on the public markets has delivered a disastrous performance that conjures memories of the dot-com bust of 2000.

Jul 27, 2012

Internet stock collapse dents Silicon Valley

SAN FRANCISCO, July 27 (Reuters) – Social media companies,
once hailed by their Silicon Valley boosters as world-changing
businesses with limitless potential, are instead proving a
sobering reminder of how investors can be seduced by Internet
hype.

With few exceptions, the first wave of social media firms to
trade on the public markets has delivered a disastrous
performance that conjures memories of the dot-com bust of 2000.

Jul 27, 2012
via MediaFile

Intel Outside: Chipmaker’s VC chief sees opportunity outside the US

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The venture arm of the world-beating chipmaker Intel Capital is increasingly looking outside the U.S. for deals– and finding them in places ranging from Ghana to Turkey.

“We are seeing a lot more dealflow outside the U.S.” said Intel Capital President Arvind Sodhani, an Indian-born globetrotter who believes the trend will continue– if only because that’s where most of the world economy is.

Jul 25, 2012

Square wins new backer at $3.25 bln valuation -source

SAN FRANCISCO, June 27 (Reuters) – Mobile payments company
Square is close to securing around $200 million in new funding
from private-equity investor Suhail Rizvi at a valuation of
about $3.25 billion, a source familiar with the matter told
Reuters, less than the company had hoped for.

Square, headed by Twitter co-founder and chairman Jack
Dorsey, has secured previous financing from prominent venture
capitalists and some said it had been seeking new funding at a
$4 billion valuation.

Jul 23, 2012

Facebook alumni line up $28 million for workplace app Asana

SAN FRANCISCO (Reuters) – Asana, a Silicon Valley start-up, has lined up $28 million in a financing round led by PayPal co-founder Peter Thiel and his Founders Fund, the company said.

The funding round values the workplace-collaboration company at $280 million, a person familiar with the matter said.

Jul 23, 2012

Redpoint e.ventures raises $130 million fund for Brazil

July 23 (Reuters) – Redpoint e.ventures, the Brazilian
venture-capital firm created by Redpoint Ventures and
e.ventures, said it had raised $130 million for its inaugural
early-stage fund.

The sum, significant for venture capital in Brazil,
underscores the region’s increasingly high profile among
investors. They see opportunity in a country with a large
population, a fast-growing middle class, big growth potential
and political stability.

Jul 20, 2012

Kleiner to appeal judge’s decision in discrimination case

SAN FRANCISCO, July 20 (Reuters) – Venture-capital firm
Kleiner Perkins Caufield & Byers said o n F riday it would appeal
a California judge’s decision that an employment discrimination
case brought by one of its partners should stay in court rather
than move to arbitration as Kleiner had requested.

The appeal, which could take months, seems likely to keep
one of Silicon Valley’s higher-profile cases in the public eye
for now. Kleiner Partner Ellen Pao’s suit has become the talk of
the Bay Area, inspiring debate on its merits as well as the
broader question of sexism in the technology industry.

Jul 20, 2012

Kleiner discrimination case will stay in court, judge says

SAN FRANCISCO, July 20 (Reuters) – A California judge on
F riday told venture capital firm Kleiner Perkins Caufield &
Byers LLC he disagreed with its attempt to move an employment
discrimination case brought by one of its partners to
arbitration, for now keeping one of Silicon Valley’s
higher-profile cases in the public eye.

While San Francisco Superior Court Judge Harold Kahn did not
issue a formal ruling from the bench at a court hearing, he told
Kleiner attorneys they could appeal his decision if they
disagreed.

Jul 20, 2012

Venture capitalists say Romney is not one of us

By Sarah McBride and Greg Roumeliotis

(Reuters) – When staffers at the National Venture Capital Association see a report that refers to U.S. presidential candidate Mitt Romney’s investments as venture capital, they grimace — and then contact the author to explain politely why it’s wrong.

The Republican White House hopeful was head of Bain Capital LLC, which does the bulk of its work in private equity and not venture capital, the NVCA would clarify. Venture capital backs companies from their earliest days, and some go on to create thousands of jobs; private equity typically comes in at later stages to turn around underperforming companies, sometimes via job cuts and other unpopular cost-savings moves.