Bay Area Tech Wire - Sept. 13

[Bay Area Tech Wire]

	========================= BAY AREA TECH WIRE -- Sept. 13 ========================= o Shares of S.F.-Based Cloudflare Spike Following $525 Million IPO  o San Francisco-Based Patch Homes Raises $5 Million in First Round of Funding  o National Labor Relations Board Orders Google to Let Employees Speak Out  o Sunnyvale-Based Rambus to Pay $65 Million for Verimatrix Business  o San Jose-Based Summit Wireless Technologies Names George Oliva as CFO o Briefly Noted: Pure Storage, Hearsay Systems __________________________ Event/Job Listings: -- 2nd Annual DataTribe Challenge - Apply to Present --New: Head of Product Marketing --Data Science Fellowship Want to post an ad? Click Here. __________________________ o Shares of S.F.-Based Cloudflare Spike Following $525 Million IPO  San Francisco -- Shares of San Francisco-based Cloudflare rose more than 20% by midday Friday on their first day of trading, hours after the developer of a service designed to speed up and protect Internet properties raised $525 million in its initial public offering (IPO). The company late Thursday priced 35 million shares at $15 each, above its target range of $12-$14, which already had been raised from earlier. The stock began trading Friday morning under the symbol "NET" on the New York Stock Exchange. Cloudflare said it counts about 10% of the Fortune 1000 as paying customers, blocking approximately 44 billion cyber threats a day through its network. In the first half of 2019, the company lost $36.8 million on revenue of $129.2 million. https://www.cloudflare.com/ https://www.cloudflare.com/press-releases/2019/cloudflare-announces-pricing-of-initial-public-offering/ https://www.sec.gov/Archives/edgar/data/1477333/000119312519244325/d735023d424b4.htm __________________________ o San Francisco-Based Patch Homes Raises $5 Million in First Round of Funding  San Francisco -- Patch Homes, a San Francisco-based tech company that offers a home equity sharing product designed to let homeowners tap into their equity without selling or taking on additional debt, said it has raised $5 million in its first round of funding. Union Square Ventures led the rohnd, which included participation from new investor Tribe Capital and previous backers Techstars Ventures, Breega Capital and Greg Schroy. The company said it will use a portion of the capital to expand its staff. "This funding will allow us to rapidly grow our team and continue our expansion, so that we can partner with even more homeowners," said co-founder Sahil Gupta. Patch uses machine learning to analyze thousands of data points on each asset, market and owner, letting homeowners access as much as $250,000 of their home equity without monthly payments or interest.  https://www.patchhomes.com https://www.prnewswire.com/news-releases/patch-homes-raises-5-million-series-a-led-by-union-square-ventures-300917222.html __________________________ o National Labor Relations Board Orders Google to Let Employees Speak Out  Mountain View, Calif. -- The National Labor Relations Board (NLRB) has ordered Mountain View-based Google to tell employees they are within their rights to speak out concerning political and workplace issues, The Wall Street Journal reported. The order is part of a settlement with the Silicon Valley company, after some employees had complained of having their free speech restricted at work. In one complaint, former engineer Kevin Cernekee claimed he was fired for expressing conservative views, though Google said he was terminated for breaking several company policies. The company has denied settling a second complaint, which the Journal reported involved a current employee who claimed he was punished for posting negative comments about an executive on Facebook. "We have agreed to a proposed settlement with the NLRB of Mr Cernekee's complaint," Google said in a statement. "Under that settlement, we have agreed to post a notice to our employees reminding them of their rights under the National Labor Relations Act. As a part of that notice, we will also remind employees of the changes we made to our workplace policies back in 2016 and 2017 that clarified those policies do not prevent employees from discussing workplace issues. There is absolutely no mention of political activity in the proposed settlement." https://www.wsj.com/articles/government-orders-google-let-employees-speak-out-11568284582 https://www.msn.com/en-us/money/companies/google-ordered-by-nlrb-to-allow-employees-to-speak-out-on-politics-labor-issues/ar-AAHco9f __________________________ o Sunnyvale-Based Rambus to Pay $65 Million for Verimatrix Business  Sunnyvale, Calif. -- After initially announcing plans for the deal earlier this month, Sunnyvale-based Rambus, the silicon IP and chip developer, said it will pay $65 million in cash to  acquire the silicon IP and secure protocols business of San Diego-based Verimatrix, a developer of security and analytics tools known until July as Inside Secure. The deal is expected to close by the end of the year. Rambus said it plans to integrate the companies' embedded security teams and technologies. "Their combination of products and expertise is highly complementary to our existing business and will expand our global reach for our worldwide security customer base," said Luc Seraphin, the president and CEO of Rambus, when the company first announced the deal in early September. http://www.rambus.com https://www.verimatrix.com/ https://www.businesswire.com/news/home/20190911005720/en/Rambus-Signs-Agreement-Acquire-Silicon-IP-Secure __________________________  o San Jose-Based Summit Wireless Technologies Names George Oliva as CFO San Jose, Calif. -- Summit Wireless Technologies, a San Jose-based developer of wireless surround sound speaker technology, on Friday named George Oliva as its new chief financial officer (CFO). He succeeds Gary Williams, who has shifted to vice president of finance and chief accounting officer. Oliva most recently was a partner with executive services firm Hardesty, and previously held CFO roles at Penguin Computing, StorCard and StreamLogic. "We are strengthening our management team as we enter our next phase of growth," said CEO Brett Moyer. "George has extensive financial and accounting experience primarily with technology companies. His cash management and strategic planning skills will be key to the team as we execute on our product roadmap and bring wireless immersive sound to consumers around the world." http://www.summitwireless.com https://ir.summitwireless.com/press-releases/detail/59/george-oliva-joins-summit-wireless-as-chief-financial __________________________  o Briefly Noted:  (Mountain View, Calif.) Mountain View-based enterprise IT company Pure Storage has named Andy Brown to its board of directors. Brown, the co-founder and chief financial officer (CFO) of Sand Hill East, is filling the position held by Mike Speiser, who is stepping down following 10 years on the board. http://www.purestorage.com https://www.prnewswire.com/news-releases/pure-storage-adds-andy-brown-to-board-of-directors-300917393.html (San Francisco) San Francisco-based Hearsay Systems, a developer of compliant digital communications and workflow tools for the financial services industry, on Friday named Alex Falls as its vice president of product. Falls most recently served as the vice president of product management at Guidewire Software. https://hearsaysystems.com/ https://www.businesswire.com/news/home/20190913005094/en/Hearsay-Systems-Adds-Insurance-Cloud-Veteran-Alex                                        ============== Job/Event/Services Listings:  ============== To Post in Job/Event/Marketplace: http://www.bayareatechwire.com  7,000 Readers: 5 day ad: $120--10 day ad: $175--20 day ad: $300 > 2nd Annual DataTribe Challenge - Apply to Present  If you are working on an early stage cyber or data science idea, apply to the DataTribe challenge for an opportunity to receive $20,000 in prize money and a chance for up to $2M in seed equity funding.  DataTribe is a cybersecurity and data science startup foundry. DataTribe commits capital, in-kind services and decades of professional expertise to co-build the next generation of cybersecurity, data and analytics companies. To learn more check out www.datatribe.com and www.datatribe.com/challenge  __________________________  > Head of Product Marketing The Head of Product Marketing is a leadership position responsible for defining and executing enterprise go-to-market strategy for the Magento Enterprise Offering. As an expert on the market, you will leverage your deep customer understanding to lead marketing strategy while collaborating with product management to help define product strategy. You will establish a winning position that differentiates Adobe in the market and own go-to-market activities including the development of sales and marketing materials, field enablement, and thought leadership. You will plan and execute product launches coordinating across internal teams to bring new and existing products to market. For more information and to apply, go to: https://adobe.wd5.myworkdayjobs.com/en-US/external_experienced/job/San-Jose/Head-of-Product-Marketing--Enterprise-Commerce_75846 __________________________  > Data Science Fellowship Pathrise invests in undervalued university students or young professionals by coaching them to get a competitive job. The program is completely free upfront. In exchange, Pathrise fellows agree to pay back a share of their first year's salary if and only if they get hired. Pathrise is based on insights from hundreds of hiring managers in tech; this means everyone from heads of marketing of publicly traded companies to startup CEOs. We've been featured in TechCrunch, VentureBeat, EdSurge, and The Atlantic as the "Y Combinator for your career." To date, we've worked with over 500 fellows and have helped them land offers at Facebook, Uber, Google, Oath, Amazon, and other top companies or exciting startups. The Pathrise Fellowship is a program for students and new grads that helps you land the best job possible in tech. During the fellowship, you receive 1-on-1 mentorship from experienced industry data scientists, analysts, managers, and recruiters. You learn systems to attract the attention of any company you want, find out insider information on how to ace your interviews, and more. We even directly refer you to companies in our network until you find a job you love. For more information, go to: https://www.pathrise.com __________________________                       > Advertising on Bay Area Tech Wire Post jobs, events, webinars, white papers or service ads on Bay Area Tech Wire and grow your business. Reach more than 7,000 business and technology professionals from the Bay Area. http://www.bayareatechwire.com/ =================== Subscribe to other newsletters from Tech Wire Media Group: Potomac Tech Wire: http://www.potomactechwire.com  Bay Area Tech Wire: http://www.bayareatechwire.com Advertising: If you are interested in advertising in our newsletters, call  Paul Sherman at 1-301-656-0057 or send email to pa...@techwiremedia.com   News tips, press releases. Send email to: edit...@bayareatechwire.com  Tech Wire Mailing Address: P.O. Box 15180 Washington, DC 20003 Copyright 2019

 

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