Tag Archives: Million

After Raising $250 Million, Lyft Cuts Prices By Up To 20% In All Markets

Last week, Lyft announced that it had raised a massive $ 250 million round of funding as part of its effort to compete against other on-demand ride services. Now the company is going on the offensive against its competitors, with a price cut of up to 20 percent in all of its markets. Read More


TechCrunch

Trout, Angels agree to $144.5 million, 6-year deal (Yahoo Sports)

Los Angeles Angels' Mike Trout hits for a base hit against the Chicago Cubs during the first inning of a spring training baseball game, Tuesday, March 25, 2014, in Mesa, Ariz. (AP Photo/Matt York)

Mike Trout and the Los Angeles Angels agreed Friday night to a $ 144.5 million, six-year contract, keeping baseball’s brightest young star under club control through 2020. The Angels said the 22-year-old outfielder and his family will be at a news conference Saturday in Anaheim to formally announce the contract along with owner Arte Moreno, manager Mike Scioscia and general manager Jerry Dipoto. The Millville, N.J., product was a unanimous choice for AL Rookie of the Year in 2012, and he finished second in AL MVP voting to Miguel Cabrera the past two years. Trout’s deal came on the same day Cabrera finalized a $ 292 million, 10-year deal with the Detroit Tigers, the richest contract in American sports.



Yahoo Sports – Top News

Ex-Spotify Engineers Raise $2.2 Million For Lookback, A Mobile App Screen Recorder For User Testing

A team of ex-Spotify engineers have raised $ 2.2 million in seed funding for Lookback, a platform allowing developers to record onscreen activity within mobile apps – and even record the user’s face and voice, so they can explain what they’re doing when they encounter a bug or some other problem. The round was led by European investor Lakestar, and saw participation from Index… Read More


TechCrunch

DocuSign Raises $85 Million to Accelerate Growth as the Global Standard for Digital Transaction Management

DocuSign announced the company has raised an additional $ 85 million with the vast majority from large institutional public funds and the balance from existing investors. DocuSign will use the funds to fuel continued growth as the global standard for Digital Transaction Management (DTM). The company will further innovate the DocuSign DTM platform, drive deeper vertical [...]
RISMedia » Consumer News and Advice

Trout, Angels agree to $1 million, 1-year contract (Yahoo Sports)

Los Angeles Angels' Mike Trout talks to a few teammates as he arrives to take batting practice during spring training baseball practice on Tuesday, Feb. 25, 2014, in Tempe, Ariz. (AP Photo/Ross D. Franklin)

Mike Trout has his first seven-figure contract. ”It feels good,” Trout said Wednesday after agreeing to a $ 1 million, one-year contract with the Los Angeles Angels. The salary is the highest for a one-year major league contract for a player not yet eligible for arbitration who wasn’t coming to the big leagues from Japan or Cuba or wasn’t required to have a larger amount because of the maximum cut rule. Ryan Howard earned $ 900,000 with Philadelphia in 2007 and Albert Pujols with St. Louis in 2003.



Yahoo Sports – Top News

Aerohive Networks Files For $75 Million IPO

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Aerohive, a company that sells Wi-Fi products to enterprise customers, has today filed to go public. The company’s proposed $ 75 million public offering is not unexpected. It spoke directly about a future flotation when it raised its Series E round of capital ($ 22.5 million) in 2012.

Aerohive went back to the well a final time, picking up $ 10 million as a Series F in mid-2013.

The initial public offering has not been priced, nor have the number of shares to be sold been disclosed. Aerohive reiterated this in a short statement. It will trade with the ticker symbol HIVE on the New York Stock Exchange.

The company raised more than $ 100 million on its path to IPO. Its investors include Northern Light, Lightspeed, Kleiner Perkins, and New Enterprise Associates.

Aerohive has experienced quick growth and widening losses, due in no small part to its growing marketing spend. That expense isn’t surprising, given that the company appears to have worked to expand its top line at the fastest pace possible, even taking on $ 10 million in debt along the way.

Revenue at the firm was $ 15.6 million in 2010, $ 31.8 million in 2011, $ 66.6 million in 2012, and for the first nine months of 2013, $ 70.3 million. In the comparable nine-month period of 2012, Aerohive had top line of $ 47.3 million. So, for the first three quarters of 2013, Aerohive grew just under 50 percent.

That quick top line ramp came at a price for the firm, which saw its net loss grow from $ 15.7 million in the first three quarters of 2012 to $ 25.4 million in the comparable period of 2013. Presumably, the company will update its S-1 filing with fourth quarter, and therefore full-year 2013 data. For now, we can only view dated information.

Operating expenses were up 60 percent at the company in the first three quarters of 2013. The company indicates in its filing that it has never had a quarter, let alone a year, of profitability.

Quickly expanding revenue and rising losses? Investors that buy into its offering will be wagering that its growth will not slow, and presumably dollars raised from the public markets will help the company grow all the more quickly.

Aerohive is not the only technology company looking to go public at the moment. Box has filed for a public offering, as well, albeit privately.

IMAGE BY FLICKR USER EMMANUEL HUYBRECHTS UNDER CC BY 2.0 LICENSE (IMAGE HAS BEEN CROPPED) 


TechCrunch

Sherpa Ventures Closes On $87 Million Of $150 Million Fund

shervin pishevar

Sherpa Ventures, the “vague by design” investment group founded by Shervin Pishevar and Scott Stanford, has made its first close on a planned $ 150 million fund. As reported by Fortune, the first $ 87 million of its raise has come in, with investors including TPG Capital. Pishevar declined to comment on the raise, citing SEC restrictions, but we’re likely to see more from the team soon. The entire round is expected to close sometime over the coming months.


TechCrunch

Million Dollar Arm – Trailer

  Million Dollar Arm – Trailer
In a last ditch effort to save his career as a sports agent, JB Bernstein (Jon Hamm) concocts a scheme to find baseball’s next great pitching ace. Hoping to find a young cricket pitcher he can turn into a Major League Baseball star, JB travels to India to produce a reality show competition called “Million Dollar Arm.” With the help of a cantankerous but eagle-eyed retired baseball scout (Alan Arkin) he discovers Dinesh (played by Madhur Mittal from “Slumdog Millionaire”) and Rinku (played by Suraj Sharma from “Life of Pi”), two 18 year old boys who have no idea about playing baseball, yet have a knack for throwing a fastball. Hoping to sign them to major league contracts and make a quick buck, JB brings the boys home to America to train. While the Americans are definitely out of their element in India — the boys, who have never left their rural villages — are equally challenged when they come to the States. As the boys learn the finer points of baseball — JB, with the help of his charming friend Brenda (Lake Bell) — learns valuable life lessons about teamwork, commitment and what it means to be a family.
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Indiegogo Raises $40 Million In Series B To Expand Their Crowdfunding Reach

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Institutional Venture Partners and Kleiner Perkins Caufield & Byers have led a $ 40 million Series B round for Indiegogo, the self-described first and largest crowdfunding platform. The company, which raised $ 15 million in 2012 will use the cash to move further into mobile and to expand their global reach.

“We’re already operational in every country in the world,” said CEO Slava Rubin. “We’ve been able to grow 300% in Europe over the year and we’re planning on adding more currencies and languages for more countries.”

“There will also be a lot of focus on mobile and on personalizion and trust,” he said.

Additional funders include Insight Venture Partners, MHS Capital, Metamorphic Ventures and ff Venture Capital.

The company has come off a banner year with a number of high-profile projects including the Mistfit Shine, the Canary, and a number of notable movies and books (Full Disclosure: myself included.)

The company has hosted 190,000 campaigns from 190 countries. Rubin said he was most excited about Indiegogo’s appearances at CES 2014 where 40 Indiegogo-funded companies showed their completed projects.

I asked him if he’d ever consider crowdfunding his next equity round. He said it wasn’t off the table.

“Equity crowdfunding is coming in 2014,” he said. “We’re staying closely connected to that.”


TechCrunch

Owners Spend $1.9 Million to Remodel in Typical Zip Code

Homeowners in the typical zip code area spent a total of $ 1.9 million to improve their homes in 2013, according to new zip-level estimates developed by the National Association of Home Builders (NAHB). This works out to about $ 1,400 per owner-occupied home within the zip code (based on the median across all zip codes estimated [...]
RISMedia » Consumer News and Advice