SAN FRANCISCO (Reuters) – Kleiner Perkins Caufield & Byers, the investment firm that has backed tech companies from Google to Amazon, will defend itself in court on Tuesday in a closely watched gender discrimination case that could lay open the inner workings of venture capital.
Former Kleiner partner Ellen Pao accuses the firm of holding her back from a promotion and better compensation after she complained about harassment by a male partner. Kleiner has denied the accusations of discrimination and retaliation, and says Pao underperformed her peers. Both sides are expected to make opening statements on Tuesday in San Francisco Superior Court.
SAN FRANCISCO, Feb 19 (Reuters) – Shipping executives and
union leaders for dockworkers at 29 West Coast ports ended a
third straight day of contract talks late on Thursday without a
settlement, despite arm-twisting from the U.S. labor secretary,
but planned to meet again on Friday.
Labor Secretary Tom Perez joined the talks in San Francisco
on Tuesday at the behest of President Barack Obama, who has come
under growing political pressure to intervene in a dispute that
has rippled through the trans-Pacific commercial supply chain
and could cost the U.S. economy billions of dollars.
SAN FRANCISCO, Feb 11 (Reuters) – San Francisco-based
AppDirect, which helps developers and businesses create, use and
sell apps, said it raised another $50 million in a funding round
led by Mithril Capital Management, the same firm in charge of
its last round.
The latest funding values AppDirect at $600 million, double
the valuation when it raised $35 million in April.
SAN FRANCISCO, Feb 2 (Reuters) – Ellen Pao, a former partner
at prominent Silicon Valley venture capital firm Kleiner Perkins
Caufield & Byers, is seeking $16 million for discrimination and
retaliation in a lawsuit against the firm, a Kleiner attorney
said in court.
The suit, filed in 2012, accuses the firm of holding her
back from a promotion and better compensation after she
complained about harassment by a male partner. The case helped
spark a broad and ongoing discussion in Silicon Valley about
SAN FRANCISCO (Reuters) – Ride service Uber, which is trying to enhance its image after several controversies, on Friday released the findings of a report on its handling of passenger data and said it would act on all the report’s recommendations for improvements.
Lawyers at Hogan Lovells, who wrote the report commissioned and paid for by Uber, found that the smartphone app-enabled service had appropriate guidelines and procedures in place for internal access control, data security and data retention.
SAN FRANCISCO (Reuters) – Smartphone-enabled car services Uber and Lyft head to court this week to resolve a critical question for Silicon Valley’s sharing economy: whether their drivers are independent contractors or employees.
The two privately held companies face separate lawsuits seeking class action status in San Francisco federal court, brought on behalf of drivers who contend they are employees and entitled to reimbursement for expenses including gas and vehicle maintenance. The drivers currently pay those costs themselves.
Jan 28 (Reuters) – Thanks to Facebook COO Sheryl Sandberg
and her mega-bestselling book, Lean In, the gender-disparity
debate has been front and center for years now in Silicon
But another executive believes she is taking that concept
one step further with her own organization, Upward. Her take:
focus a little less on working harder, and a little more on
old-fashioned meeting and greeting.
SAN FRANCISCO (Reuters) – When Intel Corp (INTC.O: Quote, Profile, Research) said this month it would spend $300 million on increasing diversity in its workforce, Silicon Valley lauded its plan to improve the “pipeline” of candidates by helping more women and minorities study computer science and engineering.
But focusing too hard on the pipeline, a frequent tactic of technology firms seeking to change their workforce, will benefit the chipmaker less than working on what happens inside Intel, diversity advocates say.
SAN FRANCISCO (Reuters) – U.S. venture capitalists invested $48.39 billion last year, the biggest total since 2000, according to new data from the National Venture Capital Association, PricewaterhouseCoopers, and Thomson Reuters.
Despite the eye popping numbers that hark back to the dotcom era, including $19.8 billion allocated to software startups, most venture capitalists say last year’s investments should not be confused with a bubble. They point to metrics such as revenue-backed growth, often absent 15 years ago but solid in most current high-flying startups.
SAN FRANCISCO (Reuters) – Online-grocery delivery service Instacart said venture firm Kleiner Perkins Caufield & Byers led its latest funding round totaling $220 million.
The company will use the cash to grow into new markets, both internationally and in the United States, Chief Executive Officer Apoorva Mehta said in an interview.