Sarah's Feed
May 15, 2014

Nextdoor CEO Tolia faces lawsuits over hit-and-run accident

SAN FRANCISCO (Reuters) – Nextdoor CEO Nirav Tolia, whose social networking website espouses neighborhood safety and community, is facing civil and criminal charges for leaving the scene of a highway accident that a driver says he caused.

San Mateo County initiated filing criminal charges against Tolia on Tuesday, Assistant District Attorney Karen Guidotti said on Thursday.

May 13, 2014

Venture capitalist Khosla in court over ending California beach access

SAN MATEO, California (Reuters) – Vinod Khosla, co-founder of Sun Microsystems and now a prominent venture capitalist, on Monday testified about his decision to close off a popular beach, in a court case that calls into question a California tradition of open access to the state’s famed beaches.

The lawsuit makes Khosla the latest in a line of Californian billionaires to clash with locals over their properties. Their dispute stems from Khosla’s closure of an access road to a northern California property known as Martin’s Beach, which is about 30 miles west of San Jose.

May 8, 2014

Venture firm Atomico sues ex-employee, consultant for double-dipping

SAN FRANCISCO (Reuters) – Atomico Partners, a London-based venture firm founded by Skype co-founder Niklas Zennstrom, is suing a former employee and consultant for secretly diverting potential Atomico investments to a venture firm that the two were building.

The employee, Pogos Saiadian, and the consultant, Wouter Gort, reached out to startups and potential investments using their Atomico credentials, according to a lawsuit filed Tuesday in state court in Delaware.

Apr 24, 2014

NASA tries space kits to engage kids in science and space

NEW YORK (Reuters) – Making mini satellite dishes that collect signals or building remote-controlled mini Rovers such as the kind NASA has used on Mars are the types of activities that could interest kids in science, but their complexity can derail all but the most enthusiastic hobbyist.

Now, NASA, the U.S. space agency, hopes it has found a workaround through new space kits and a collaboration with a New York-based startup called LittleBits.

Apr 11, 2014

Individuals targeted as San Francisco tech money protests intensify

SAN FRANCISCO (Reuters) – Demonstrations against the grip on San Francisco held by wealthy technology workers took a personal turn on Friday with protesters taking aim at a Google lawyer they say personifies the tensions being stirred by abundant tech money.

Jack Halprin, a landlord in the city’s gentrifying Mission district, became the focus of the latest blockade of a tech company commuter bus, with protesters demanding Google ask Halprin to rescind eviction notices he has sent his tenants.

Apr 9, 2014

Tiger Global helps Q&A site Quora raise $80 million

SAN FRANCISCO (Reuters) – Question-and-answer service Quora has raised $80 million in funding led by financier Tiger Global, the latest in a group of no-revenue startups to land outsized checks from investors.

The company, founded in 2009 by Facebook alumni, said the cash would support three areas: ensuring Quora lasts on the Internet; that it retains its independence and avoids getting acquired; and that it expands into languages beyond English.

Apr 7, 2014

Ride service Uber dials into courier business

SAN FRANCISCO (Reuters) – App-based ride company Uber will start delivering on its promise of expanding its business into logistics on Tuesday when it launches a trial courier service, Uber Rush, in Manhattan.

“Better, faster, cheaper,” is how Uber’s general manager in New York, Josh Mohrer, described the service in a tweet to Reuters. Customers will be able to watch the progress of their packages in its transportation application, much as they can track the progress of the cars they order up on the service.

Apr 3, 2014

Mozilla CEO resigns, opposition to gay marriage drew fire

SAN FRANCISCO (Reuters) – Mozilla Chief Executive Brendan Eich has stepped down, the company said on Thursday, after an online dating service urged a boycott of the company’s web browser because of a donation Eich made to opponents of gay marriage.

The software company came under fire for appointing Eich as CEO last month. In 2008, he gave money to oppose the legalization of gay marriage in California, a hot-button issue especially at a company that boasts about its policy of inclusiveness and diversity.

Apr 2, 2014

Ridesharing service Lyft raises $250 million from Coatue, others

SAN FRANCISCO, April 2 (Reuters) – Lyft, the ridesharing
service known for cars sporting fluffy pink moustaches, said it
has raised another $250 million, making it one of Silicon
Valley’s most richly valued private companies.

The service, which uses a smartphone-based app to match
riders with paid drivers who use their own cars rather than
livery vehicles, said it would use the cash to expand
domestically and internationally. Currently, it works in 28 U.S.
cities, with plans to expand to two more by week’s end: Tampa,
Florida; and Tucson, Arizona.

Mar 27, 2014

Tiger Global leads Wall St pack turning to Silicon Valley

SAN FRANCISCO/BOSTON, March 27 (Reuters) – As increasing
numbers of technology companies defer their initial public
offerings, one influential hedge-fund investor has stepped up to
the plate in Silicon Valley.

Tiger Global Management has emerged as among the most
prominent of a growing club of Wall Street financiers now eyeing
technology start-ups, a circle that includes hedge funds such as
Coatue Management and Valiant Capital Management; private-equity
groups such as Rizvi Traverse Management and TPG; and
mutual-fund giants BlackRock, Fidelity and T. Rowe Price.