Tech Weekly Newsletter: July 10, 2016

Last week, today

  • 7/1 – Richard Boyle, who was an operating partner at Khosla Ventures and the former CEO of LoopNet (acquired by CoStar for $860M, 9.5x LTM revenue), is joining Canaan Partners as a partner (PE HUB)
  • 7/1 – Johnson & Johnson is aggressively moving to the cloud, planning to have 85% of its applications in the cloud by 2018 (WSJ)
  • 7/4 – Snapchat is catching on with people over 35 according to a new study by the comScore (as reported by the WSJ). Currently 14% of US smartphone users over 35 years old are on the app and that number is rising steadily (WSJ)
  • 7/4 – San Francisco is considering a tax on tech companies to pay for the displacement by tech companies in the city (NYT)
  • 7/4 – Line, the Japanese messaging-app, revised its IPO price range up, citing strong demand (WSJ)
  • 7/4 – A market research firm released a pretty brutal report on customers’ experience using SAP’s software recently (Diginomica)
  • 7/5 – The New York Times does a deep dive into the new life of Jared Kushner, an investor himself and the older brother of Thrive Capital and Oscar Health founder, Josh Kushner, and his new role as one of the leaders of the Trump campaign (NYT)
  • 7/5 – The latest rounds of Yahoo offers are due this week with the final rounds due the week of July 18th (Re/Code)
  • 7/5 – Twitter has added Quip CEO and former Facebook CTO Bret Taylor to its board (VentureBeat)
  • 7/5 – Alex Shootman, former President of Apptio and Eloqua, has been named the CEO of Workfront (formerly known as AtTask), which has raised $95M from OpenView and JMI among others (PR Newswire)
  • 7/5 – Online lender Avant has offered buyouts to all 760 of its employees amid the slowdown in the financial lending market (WSJ $)
  • 7/5 – Twilio will now help Amazon deliver some of their SMS messages through the Amazon Simple Notification Service program, but specifics around what exactly that means remain vague/cryptic (TechCrunch)
  • 7/5 – Google is now trying to sue the Oracle lawyer that let it slip in open court that Google pays Apple over $1B a year to include its search bar in the iPhone (Fortune)
  • 7/5 – A short bit after indicating it was for sale, Epicor (a provider of sales and back-office software to manufacturers and retailers) has been acquired by KKR from Apax for $3.3B (WSJ $)
  • 7/5 – The war between Comcast and Netflix has finally ended with the two companies striking a deal to provide the streaming service on Comcast’s X1 cable boxes later this year (Fortune)
  • 7/5 – Social Gaming Network is acquiring Andreesen Horowitz-backed company, TinyCo, which had raised $38M (last in 2013) and navigated through some tough times including breaching the covenants on a $10M SVB line (WSJ $)
  • 7/6 – Dan Primack was able to dig up some of the details on (Zenefits co-founder and former CEO) Parker Conrad’s new start-up, which will focus on employee on-boarding (Fortune)
  • 7/6 – Forbes has a detailed look into the battle that Google and Microsoft are now waging to try and catch up to Amazon in the cloud (Forbes)
  • 7/6 – In what might prove to be a huge announcement, but will probably prove to be a nothing one, Microsoft announced that it is combining its Dynamics CRM and ERP products into an integrated platform that it is hoping third parties will build apps on top of and also an app store for it (TechCrunch)
  • 7/6 – This was Pokemon Go’s week and we were all just witnesses to it (TechCrunch). The app is apparently about to pass Twitter in daily active users on Android (Forbes)
  • 7/6 – Zerve, a platform for tours and activities, announced it would be shutting down on 6/30. Apparently, Zozi had offered to acquire the business for $6M, but Zerve declined and instead accepted $100K from FareHarbor to run the business for another week and transition its 200 clients to the FareHarbor platform (Skift)
  • 7/6 – Glasswing Ventures has now formally filed with the SEC for the $150M fund it plans to raise to focus on AI and cybersecurity (
  • 7/6 – Forerunner Ventures has raised a $122M fund to continue to focus on early stage consumer investing (TechCrunch)
  • 7/6 – Mixpanel agrees to settle an employee class-action suit for $750K for incorrectly classifying employees as overtime exempt and illegally requiring employees to sign non-competes (WSJ $)
  • 7/6 – Google bought a start-up that specializes in ‘instant object recognition’ on the smartphone for an undisclosed amount (Business Insider)
  • 7/6 – Edison Ventures has closed Edison Partners VIII, a $275M growth fund. Their last fund was a $250M raised in 2010 (PE Hub)
  • 7/6 – Alibaba has acquired one of China’s most prominent Android app stores, Wandoujia, for around $200M. The Company was reportedly valued at more than $1B when it raised $120M from SoftBank in 2014 (TechCrunch)
  • 7/6 – The Information has the story on what impact the Zenefits re-pricing will have on its early stage investors (answer: not much) (The Information $)
  • 7/6 – Facebook has poached Rich Heley, the VP of Products at Telsa (responsible for new vehicle programs and reporting directly to Elon Musk), as its new lead of manufacturing at a new research lab that will be responsible for developing hardware products (Investors)
  • 7/6 – Elon Musk continues to be fairly tone-deaf about the Tesla crash, going on Twitter rants about the reporting of the crash and generally just showing a lack of real empathy (Business Insider)
  • 7/7 – M&A keeps humming right along with security firm, Avast (backed by CVC and Summit Partners), agreeing to buy rival AVG for $1.3B in cash, representing a 33% premium in the closing stock price (Fortune)
  • 7/7 – Android co-founder, Rich Miner, is leaving GV (fka Google Ventures) to lead a new education technology initiative within Google (TechCrunch)
  • 7/7 – The lawyer for the accuser in the Michael Goguen case, the former Sequoia General Partner that has been accused of a number of not great things, requested to withdraw from the case, citing irreconcilable differences (Fortune)
  • 7/7 – COO of Microsoft (who ran its entire sales operations), Kevin Turner, is leaving the Company to join Citadel. Turner was at one point considered as CEO after Ballmer (Business Insider)
  • 7/7 – Mozilla could walk away with more than $1B if it doesn’t like Yahoo’s buyer in an odd deal that was personally struck by Marissa Mayer (Re/Code)
  • 7/7 – Facebook Live was at the center of the conversation this week after a Minnesota shooting by a police officer (Business Insider), something the Company is increasingly going to need to deal with (Buzzfeed)
  • 7/7 – Bumble, the offshoot of Tinder that was founded by one of the early Tinder employees, has a [weird/off-brand] new product called BumbleBIZZ that will let you swipe for professional contacts (Fortune)
  • 7/7 – Google has acquired Anvato to handle the backend systems for storing and streaming video in a play to get more media companies on its infrastructure. The Company will join Google’s cloud division (Re/Code)
  • 7/7 – Analysts are having a tough time agreeing on whether or not Apple’s sales will be strong or weak (Bloomberg)
  • 7/8 – This week in Theranos, its founder and CEO, Elizabeth Holmes, has been barred from running a laboratory and accepting payments from Medicare and Medicaid. The sanctions will take effect in 60 days (NYT). Tim Draper probably still defends her though
  • 7/8 – Bain Capital Ventures has closed a new $600M fund for enterprise software companies (WSJ $)
  • 7/8 – Polycom has cancelled its deal with Mitel, which was valued at $1.96B after Siris Capital came in with an offer for $2B in cash (TechCrunch)
  • 7/8 – After the initial (advertising) success of its streaming deal with the NFL, Twitter is looking to ink more sports streaming rights and is currently in discussion with the NBA and the MLS (Re/Code)


  • 7/7 – Barracuda Networks jumped 13.5% on Q1 earnings beat after beating on both the top and bottom line. Its subscription business was up 20.3% (Seeking Alpha)
  • 7/8 – Western Digital shares traded up 6% on better than expected early results from the SanDesk acquisition (


  • 7/8 –Uber, the seven-year-old, San Francisco-based ride-share giant, has raised $1.15 billion from a new high-yield loan, according to the WSJ. The company has now raised more than $15 billion in debt and equity.
  • 7/7 – Light, a Palo Alto, Calif.-based maker of a multi-aperture computational camera, has raised $30 million in Series C funding. GV led the  round
  • 7/6 – HourlyNerd, a Boston-based freelancer marketplace, has raised $22 million in Series C funding. General Catalyst Partners led the round
  • 7/5 – Revinate, a San Francisco-based provider of hotel management software focused on guest experience personalization, has raised nearly $13 million in Series C funding. Sozo Ventures led the round.
  • 7/7 – BevSpot, a Boston-based beverage management software platform for the hospitality industry, has raised $11 million in Series B funding led by Bain Capital Ventures
  • 7/7 – Service Partners One, a Berlin-based digital office management company, has raised $10 million in Series A funding. EQT Ventures led the round
  • 7/6 – Twistlock, a San Francisco-based provider of security solutions for virtual containers, has raised $10 million in Series A funding from TenEleven Ventures
  • 7/6 – Veriflow, a San Jose, Calif.-based provider of network breach and outage prevention solutions, has raised $8.2 million in Series A funding. Menlo Ventures led the round
  • 7/7 – Post-Quantum (PQ), a UK-based quantum encryption startup, has raised GBP 8 million in Series B funding
  • 7/5 – Everplans, a New York-based online estate and legacy planning platform, has raised $6.4 million in Series A funding. Mousse Partners led the round
  • 7/7 – Black Swan Data, a London-based provider of data integration and classification services, has raised GBP 6.2 million in Series B funding. Albion Ventures led the round
  • 7/5 – Natural Cycles, a Swedish provider of fertility software, has raised $6 million in Series A funding. Bonnier Media Growth led the round
  • 7/8 – CoolaData, an Israeli provider of a cloud-based behavioral analytics platform for business intelligence, has raised $5.6 million in VC funding from Salesforce Ventures
  • 7/5 – Network Locum, a London-based provider of healthcare staffing and workplace management software, has raised 5.3 million in Series B funding led by BGF Ventures
  • 7/6 – Homee, a Los Angeles-based home decor app, has raised $5 million in Series A funding from Founders Fund and Sean Rad (Tinder CEO)
  • 7/7 – Riffyn, an Oakland-based provider of cloud-based research process design software, has raised an undisclosed amount of VC funding from Siemens Venture Capital
  • 7/5 – Echobox, a London-based AI service for the digital publishing service, has raised $3.4 million in new VC funding
  • 7/7 – EarnUp, a San Francisco-based platform for automating loan payments, has raised $3 million in seed funding. Backers include Blumberg Capital, Kapor Capital, Camp One Ventures and Fenway Summer Ventures
  • 7/8 – Drupe, an Israel-based mobile interface overlay, has raised $3 million in new VC funding from Canaan Partners Israel and Sweet Capital
  • 7/7 – Syntax, a Montreal-based provider of cloud and other enterprise tech solutions to North American businesses, has raised an undisclosed amount of equity funding from Novacap

Random, long reads
Daddies, “Dates,” and the Girlfriend Experience: Welcome to the New Prostitution Economy
(Vanity Fair) – Vanity Fair goes into the new world of prostitution that has been driven largely by the proliferation of mobile apps and sites (not to mention student debt and the overall economy).  Fascinating look at how this has evolved and where we are today.

Future: Syrup, Strippers and Heavy Angst With the Superstar MC (Rolling Stone) –  Future’s name seems to be attached to every single thing of substance in the hip-hop industry today. Rolling Stone goes deep into what motivates the artist and how he ended up as one of the brightest stars in hip-hop today.

Why One Woman Pretended to Be a High-School Cheerleader (The Atlantic) – You might recall the story from eight years ago. A mother of two in Wisconsin posed as a high school student and went back to school including attempting to join the cheerleading team, before ultimately being arrested.  This is the first time anyone has interviewed her about what happened and how she ended up in that position. A very sad, albeit interesting look into this one woman’s life.
*Battery portfolio company. For a list of all Battery portfolio companies, please click here.