SAN FRANCISCO (Reuters) – Claude Burns, who just earned a degree from MIT’s Sloan School of Management, hatched what he thought was a great startup idea: a subscription business peddling craft beers. But how to come up with the half-a-million to fund it? He figured he’d target the usual suspects: family, friends, angel investors, maybe even a local bank.
What he didn’t expect was that one of his classmates would step up. Victoria Gutierrez liked the idea so much that right before graduation, she promised to invest $25,000 in Nobel Brewer.
SAN FRANCISCO (Reuters) – A San Francisco Bay Area entrepreneur and author whose location in an Uber vehicle was allegedly broadcast to a roomful of party-goers without his permission considered legal action against the company and consulted an attorney, he said on Wednesday.
Peter Sims said he ultimately decided against suing because of time commitments. But his situation highlights potential liabilities at a time when Uber has drawn fire over allegations that it targeted journalists.
SAN FRANCISCO (Reuters) – Academia doesn’t usually bring rich financial rewards.
But that changed Sunday for recipients of a record 12 Breakthrough Prizes, the award created two years ago by Russian billionaire venture capitalist Yuri Milner, Facebook founder Mark Zuckerberg, Google co-founder Sergey Brin and other tech industry luminaries. Each prize is worth $3 million, almost three times the cash a Nobel Prize winner receives.
By Sarah McBride
HUNTINGTON BEACH Calif. (Reuters) – (In paragraph 7 deletes words “in India” and replaces with “in San Francisco”)
If Shubham Banerjee cannot lay claim to being the world’s youngest venture capital-backed entrepreneur, he comes very close.
, Nov 4 (Reuters) – If Shubham
Banerjee cannot lay claim to being the world’s youngest venture
capital-backed entrepreneur, he comes very close.
Banerjee was 12 years old when he closed an early-stage
funding round with Intel Capital, the company’s venture
capital arm, last month for his prototype for a low-cost Braille
printer. The San Jose, California middle-schooler has since
By Christina Farr and Sarah McBride
(Reuters) – Apple Inc (AAPL.O: Quote, Profile, Research, Stock Buzz) CEO Tim Cook on Thursday became the most prominent American corporate leader to come out as gay, saying he was trading his closely guarded privacy for the chance to help move civil rights forward.
The 53-year-old Alabama native and self-described “son of the South”, who has spoken out against discrimination of lesbian, gay, bisexual and transgender (LGBT) people, declared his sexual orientation in a magazine editorial, confirming a fact widely known in the close-knit Silicon Valley tech community but rarely discussed.
SAN FRANCISCO, Oct 30 (Reuters) – Minted, an online
marketplace for stationery and art, has raised $38 million in
new financing as it taps into consumer demand for small-batch,
high-participation manufacturing, it said Thursday.
The money will help Minted expand into textiles and set up a
new system where popular designers on the site can create their
own storefronts within the larger Minted site.
SAN FRANCISCO (Reuters) – California’s privacy laws have saved a high-profile venture capital firm from having to release potentially embarrassing information about a former partner in a discrimination lawsuit by a former female partner.
A judge ruled Kleiner Perkins Caufield & Byers, defending itself against allegations of discrimination and retaliation, will be able to keep to itself any other harassment complaints against former male partner at the center of the lawsuit, Ajit Nazre, in part because producing such complaints would hurt the privacy rights of other Kleiner employees.
SAN FRANCISCO, Oct 16 (Reuters) – Boston-based Battery
Ventures said it hired software executive Russell Fleischer as a
partner for its private-equity business amid a buyout
environment that offers rich returns but hard-to-find deals.
Fleischer will focus on finding deals in the
enterprise-software sector, where Battery has developed
expertise. It has backed companies such as Marketo, Splunk and
HighJump, which he ran until its acquisition by Accellos earlier
SAN FRANCISCO, Oct 14 (Reuters) – The prospect of tens of
thousands of potentially racy Snapchat photos hitting the
Internet has driven home a simple fact: the mobile app’s core
feature – delivering photos and videos that vanish seconds after
viewing – is flawed.
The negative publicity surrounding that speculation has
spurred criticism about its lax security. But whether this will
affect the valuation of the 3-year-old Silicon Valley start-up
as it seeks another round of funding remains to be seen.