Sunday, October 31, 2010
Google revises internal privacy practices, appoints director of privacy
No custom ringtones for Windows Phone 7? (video)
How To Protect Your Login Information From Firesheep
TechCrunch reader Steve Manuel claims to have found a workaround to Firesheep, the controversial Firefox extension that allows anyone on an insecure open Wifi network to access user login info for almost every single social network in existence.
Firesheep banks on the fact that most social sites default to the HTTP protocol because it’s quicker. The already existing Firefox extension Force-TLS attempts to circumvent this by forcing those sites to use the HTTPS protocol, therefore making user cookies invisible to Firesheep.
Like the alternative option HTTPS Everywhere, the Force-TLS Firefox extension allows your browser to change HTTP to HTTPS on sites that you indicate in the Firefox Add On “Preferences” menu, protecting your login information and ensuring a secure connection when you access social sites.
HTTPS encrypts user data, so if a script like Firesheep’s like tries to pull it, it can’t be read. Force-TLS forces a number of sites to make all of their requests over an SSL secured channel and while some sites, like Amazon, don’t currently have the secure option, the majors like Facebook, Twitter, Google, etc all allow a HTTPS connection.
How to configure:
1. Download the plugin here and install into Firefox.
2. Open “Preferences” and add the domains you want to force the HTTPS connection with.
3. Restart Firefox.
Note: Unlike HTTPS Everywhere, Force-TLS relies on the user defining the sites they want to access through a secure HTTPS connection.
And while everyone should have learned by now that there’s always some privacy risk when interacting online, hopefully the installation of Force-TLS will at least put less of a damper on today’s stint at your local “free Wifi!” boasting cafe. I’m also looking into the possibility of equivalents for this extension on other browsers and will update this post as soon as I have alternative options.
Thanks: Steve Manuel
Teaser Image: Kevin Steele
Viper SmartStart app goes to 2.0, gets potentially cheaper and throws roadside assistance into the mix
Vista, California (10-22-2010) - Directed Electronics today announced what it calls Viper SmartStart 2.0 – a comprehensive update to its award-winning Viper SmartStart product line, which allows users to control vehicle security and convenience features using their iPhone®, BlackBerry® or Android® smartphone.
Lower Pricing
With Viper SmartStart 2.0, Directed has dramatically lowered pricing, with dealers advertising Viper SmartStart as low as $199 as an add-on to compatible Viper systems. According to Mike Simmons, Executive VP of Directed Electronics, "We optimized the design and engineered costs out to put Viper SmartStart within reach of as many customers as possible."
"We created the smartphone car integration category last year with the launch of Viper SmartStart," said Simmons. "It's exciting to see all the attention the category has been getting lately, with OnStar® and many of the OEMs pre-announcing their products on the drawing board. It's clear that customers are very interested in controlling their car from their smartphone, and we will continue to lead this category by being first to market with the most advanced – and most affordable – solutions."
Viper Motor Club
Locked out? Dead Battery? Need a tow? Viper SmartStart's got your back. Free roadside assistance now comes with Viper SmartStart 2.0. Customers in a bind can access the Viper Motor Club with just the push of a button in the Viper SmartStart app. And this is just one of many features Directed will be adding starting in the 4th Quarter. "We are focused on delivering a simple and affordable smartphone solution with features that drivers really value, including the new Viper Motor Club," added Simmons.
"It is hard to believe we launched Viper SmartStart just one year ago," said Kevin Duffy, President of Directed Electronics. "Viper SmartStart received an onslaught of media attention, and introduced a completely new product category in mobile electronics. We expect the launch of Viper SmartStart 2.0 to drive a whole new wave of customer interest over the next few months, especially with cold weather on its way."
The new Viper SmartStart 2.0 Module (VSM200) can add SmartStart capability to the millions of cars on the road with Viper systems installed. Now most Viper remote start and security systems installed since 2003 are SmartStart compatible. In addition, two new complete Viper SmartStart systems are being introduced: Dealers are advertising the Viper VSS3000 Remote Start System as low as $299, while the Viper VSS5000 Security with Remote Start System is being advertised as low as $499. For more information including a store locator, please visit www.viper.com/smartstart
About Directed Electronics
Headquartered in Southern California, Directed Electronics is the largest designer and marketer in North America of consumer-branded vehicle security and remote start systems (sold under Viper®, Clifford®, Python®, Autostart® and other brand names). Directed Electronics is also a supplier of mobile audio products sold principally under the Orion® brand name, and digital OEM Integration products sold under the XPRESSKIT® brand name. Directed Electronics markets its broad portfolio of products through many channels including leading national retailers and specialty chains throughout North America and around the world. Founded in 1982, the company's primary operations are located in Vista, California and Quebec, Canada. For more information, please visit www.directed.com. Directed Electronics is a business unit of DEI Holdings, Inc.
Forward-Looking Statements
Certain statements in this news release that are not historical fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements typically are identified by the use of terms such as "may," "should," "might," "believe," "expect," "anticipate," "estimate" and similar words, although some may be expressed differently. Shareholders and other readers are cautioned not to place undue reliance on these forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results of DEI Holdings to be materially different from historical results or from any results expressed or implied by such forward-looking statements. These factors include competition in the consumer electronics industry, development of new products and changing demand of customers, reliance on certain key customers, decline in consumer spending, reliance on certain manufacturers and their ability to maintain satisfactory delivery schedules, disruption in supply chain, shortages of components and materials, economic risks associated with changes in social, political, regulatory, and economic conditions in the countries where the company's products are manufactured, quality installation of products by customers, significant product returns or product liability claims, compliance with various state and local regulations, risks with international operations, impairment of goodwill and intangible assets, claims related to intellectual property, ability to service debt obligations, restrictive terms of the company's senior secured credit facility, vulnerability to increases in interest rates, disruption in distribution centers, ability to raise additional capital if needed, dependence on senior management, ability to realize on investments made in the business, and integration of acquired businesses. Certain of these factors, as well as various additional factors, are discussed from time to time in the reports filed by DEI Holdings with the Securities and Exchange Commission. DEI Holdings disclaims any intent or obligation to update these forward-looking statements.
Apple, the Apple logo, iPhone, iPod, iPod touch, and iTunes are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.
Other trademarks, service marks and trade names appearing in this release are the property of their respective owners.
Symbian Foundation winding down operations?
LDK Solar Inks $300 Million Deal With BYD
Several big names in solar have settled from recent highs on Wall Street, but there’s still a lot of money running into the sector.
On Monday morning, LDK Solar announced that it has locked up a new two-year sales deal with Chinese juggernaut BYD worth roughly $300 million. Under the deal, LDK will provide monthly shipments of polysilicon starting on January 2011.
It’s another win for the solar wafer manufacturer, which earlier this month raised its third quarter revenue guidance about 7% to a range of $610 to $640 million. In addition to raising its outlook, LDK noted that shipments of solar wafers and modules were outpacing demand.
For its part, the diversified BYD— which makes everything from automobiles to mobile phone batteries— has made no secret of its ambitions in green tech.
Earlier this year BYD announced that it will spend more than $3 billion over five years to construct one of China’s biggest solar power battery plant in Shangluo. Meanwhile, the company has also been working on large-scale energy storage solutions and their all-electric vehicle, the e6, is being prepped for a US debut. Although BYD (which Warren Buffett’s Berkshire Hathaway has a 10% stake in) has struggled this year amid soft demand in China’s auto market, the company has seemingly maintained its aggressive stride in the green sector.
“We are very excited to add BYD, a leading high-tech enterprise that has a strong commitment to the green energy sector, as a key customer,” LDK’s CEO, Xiaofeng Peng said in a statement.
Saturday, October 30, 2010
HTC 7 Pro squares away its FCC approval?
Jolicloud prepping a netbook of its own
BlackBerry PlayBook demoed in the flesh at Adobe MAX, Air-based SDK launched
Update: RIM co-CEO Mike Lazaridis -- who was up on stage with Adobe's Kevin Lynch for the demo -- announced that devs who get PlayBook apps approved into App World will get a free PlayBook. Not a bad incentivizer, if we do say so ourselves.
Ortustech unveils world's smallest Full HD display, puts Retina to shame
The Color Nook Could Be The Tablet Tipping Point
Both Amazon and Barnes & Noble have downplayed actual e-reader device sales numbers, instead crowing about the number of e-books sold in the past year. This is an important distinction because it shows us a few things about the Nook/Kindle audience. First, e-readers (dedicated e-readers, mind you, not tablets) are popular with heavy readers and, as a corollary, most e-reader owners buy a lot of books. However, the real value has been in the e-book format itself, as the popularity of the Kindle and Nook e-book stores can attest. Since the first e-readers trickled out of Sony in about 2006, the general audience has complained about the lack of a color option and their interest has been consistently drawn to tablets like the iPad, the Playbook, and the HP Slate. What’s an e-reader manufacturer to do?
In short, they need to create a slate with a focus on e-reading which, like the Nook, will run a kiosk-style, locked-down version of Android. A thin LCD screen (OLED is right out) should satisfy all but the most picky reader and a $250 price tag, $50 more than the best E Ink e-reader, would create a fairly compelling offering for that self-same reader.
And that’s just what we can expect to see from Barnes & Noble this week when they announce a new Nook.
Read the rest of this entry »
Microsoft says it's 'doubling down' on PC games
Friday, October 29, 2010
Wi-Fi Direct certification begins today, device-to-device transmission starting soon
As for functionality, the claims are fairly impressive. In order to make a direct device-to-device connection over WiFi, just one of the two need to be Wi-Fi Direct certified. In other words, a Wi-Fi Direct printer can recognize and interface with your Latitude D410 laptop from 1999, as all Wi-Fi Direct certified devices have to be able to control the one-to-one relationship. The goal here is pretty simple -- it's to create a protected connection between two devices over WiFi with as little hassle as possible. Think Bluetooth, but using WiFi. We also learned that "most" products certified will also support "one-to-many" connections, enabling a Wi-Fi Direct laptop to be in contact with a printer, connected HDTV and a tablet simultaneously, with no router in-between at any point. We should also point out that while 802.11a/g/n is supported over 2.4GHz and 5GHz bands, there's no requirement for Wi-Fi Direct products to support 802.11b, so legacy users may want to pay attention to that quirk.
There's also no new hardware requirements here, so in theory, any existing WiFi chipset could be upgraded via firmware to handle Wi-Fi Direct -- whether or not that'll happen on a large scale was a question the Wi-Fi Alliance couldn't answer for us. Finally, they noted that the app ecosystem is likely to make this whole rollout a lot more interesting, particularly considering that Direct is simply a pipe that software can dictate as it sees fit. We'll be keeping a close eye on the developments here; we've waited way too long for this to blossom, but we're pretty jazzed about the possibilities. Head on past the break for a video overview of how Wi-Fi Direct works.
See more video at our hub!WI-FI® GETS PERSONAL: GROUNDBREAKING WI-FI DIRECT™ LAUNCHES TODAYWi-Fi CERTIFIED Wi-Fi Direct devices make connections that don't require a traditional network
AUSTIN, TX, October 25, 2010 – Wi-Fi has made an important leap in connecting devices anywhere, anytime - with or without a traditional network available. The Wi-Fi Alliance® today announced that it has begun certifying products capable of making device-to-device connections, designating those products Wi-Fi CERTIFIED Wi-Fi Direct.With portable content like photos, videos and music taking center stage in the digital consumer experience, Wi-Fi Direct devices meet an important consumer need: directly connecting devices for applications such as content sharing, synching, printing, and gaming anywhere with ease. Current trends demonstrating how people use digital devices highlight the need for this compelling solution:
· Content is portable. In 2010, young Americans carry an average of about 1,100 songs, 50 videos, and 1,200 photos with them on digital devices.1
· Wi-Fi connects it all. With 82 million Wi-Fi-enabled portable consumer electronics and 216 million Wi-Fi enabled handsets set to ship this year, and growing at annual rates of 26 percent through 2014, consumers will be able to use Wi-Fi Direct to connect a huge range of digital devices.2
· Apps are at the forefront. New applications for portable devices emerge every day, offering compelling new ways to use connected devices. Adoption of apps on portable devices is growing at a 50 percent annual rate. 3
· Technology is social. In the United States, 64 percent of young people report that Wi-Fi connectivity helps them maintain relationships with their friends. Moreover, young Americans also report they often gather around devices for entertainment, with about 90 percent of people reporting they have gathered around a portable device to look at pictures, videos, or video games.4
"We designed Wi-Fi Direct to unleash a wide variety of applications which require device connections, but do not need the internet or even a traditional network," said Edgar Figueroa, CEO of the Wi-Fi Alliance. "Wi-Fi Direct empowers users to connect devices – when, where and how they want to, and our certification program delivers products that work well together, regardless of the brand."
Wi-Fi Direct-certified devices can connect with older Wi-Fi CERTIFIED devices, enabling a vast range of devices already in use to connect with products implementing Wi-Fi Direct from the certification program's inception. Wi-Fi Direct devices include a push-button set up mechanism, employ the latest WPA2™ security protections, and bring typical Wi-Fi throughput and range. Wi-Fi Direct-certified devices can support Wi-Fi CERTIFIED n technology as well as older forms of Wi-Fi.
"Wi-Fi Direct is a game-changing advance for Wi-Fi technology," said Victoria Fodale, Senior Analyst at ABI Research. "As people continue to increase the number of devices and the amount of content they carry, Wi-Fi Direct extends an already-compelling technology into an even more useful, convenient solution for all the things people want to do with their devices."
The first products to be designated Wi-Fi CERTIFIED Wi-Fi Direct, and which form the test suite for the certification program are:
· Atheros XSPAN® Dual-band 802.11n PCIe Mini Card (AR928x)
· Broadcom BCM43224 Dual-Band 802.11n 2x2 MIMO PCIe Half Mini Card
· Intel® Centrino® Advanced-N 6200
· Ralink MIMObility 802.11n 2x2 PCIe Half Mini Card
· Realtek RTL8192CE-VA4 HM92C00 PCIe mini card
In addition, the Cisco 2106 Wireless LAN Controller and Cisco Aironet 1240 Series Access Points are used in the certification test suite.
More information, including information for consumers and retailers, a list of Wi-Fi CERTIFIED Wi-Fi Direct products, the technical specification, white papers, and more, is available at www.wi-fi.org/Wi-Fi_Direct.php.
Galaxy Tab WiFi-only model hitting Best Buy for $499.99, Sprint 3G model on sale November 14th?
Update: As noted in the comments, the Galaxy Tab doesn't ship with a 7-inch Super AMOLED display -- it's Super TFT LCD. We suspect that's a printing error and not a hint of things to come.
Update 2: Sprint confirms
[Thanks, Chris]
Interlude, S-Curve, And VEVO Team To Launch Ridiculously Engaging Interactive Music Video
Head to leading music video portal VEVO this morning and you’re going to see something that’s quite out of the ordinary: a new music video starring Andy Grammer that puts you in the director’s chair. Hit ‘play’ and things will start simply enough, with Grammer walking down an alley as he croons toward the camera. But after a few moments you’ll see a popup asking if you want him to “Bump into Movers” or get “Dumped by Bikers”. Better make up your mind — you only have ten seconds to make your choice, and it actually impacts which version of the video you’ll be seeing. It’s part video game, part choose-your-own adventure story, and it’s what you might call “engaging as hell”.
The video may well be a taste of what’s to come over the next few years as musicians, entrepreneurs, the labels, and web publishers work together to figure out the future of music content online. And it’s surprisingly fun — there are dozens of possible versions based on the choices you make, with variations that include everything from dancing housekeepers to multiple cameos from actor Rainn Wilson (Dwight from The Office). But the story behind the video is also compelling. Over the last week I’ve spoken with some of the key players involved with the production to learn how it was put together, and where they see things going from here.
Interlude
If the interactive portion of the video seems vaguely familiar, it’s because we previously wrote about the startup that’s building the technology behind it: Interlude. This Israeli company was founded by Yoni Bloch — who is actually a well-known musician himself — and has developed a platform that can add this engaging, interactive layer to video content. Interlude put together a demo video of Yoni early this year, and it was a huge success in Israel — he tells me that 25% of the country’s Internet-using population watched it. And perhaps even more impressive: the engagement stats showed that nearly everyone watched the video more than once, so they could discover the multiple routes.
Of course, interactive videos aren’t exactly a novel idea — we’ve seen plenty of startups looking to add an interactive layer on top of video footage, and it’s even possible to use YouTube’s annotations feature to build some basic interactivity. The key distinction that Interlude brings to the table is an interactive experience that’s seamless: the content doesn’t pause as it waits for you to make your decision. Instead, you see an overlay for a period of time determined by the artist (for the Grammer video it’s 5-10 seconds), and the audio and video never cuts out.
S-Curve
It’s one thing for a startup to build a snazzy custom video player — but how do you actually get artists to use it? That’s where S-Curve, a record label founded by former Columbia Records President Steve Greenberg, came in.
Greenberg (who is also known for discovering The Jonas Brothers and is a Grammy-winning producer) says that S-Curve is still a small company, which gives it the flexibility and a very strong incentive to keep innovating as much as possible. To do that, the label is working to discover and foster new technologies that are related to the music business — and then to actually use these technologies with S-Curve artists (and help connect the companies with the rest of the industry). Along with Interlude’s interactive video project, S-Curve has also been involved with Hashtag art, which was used by Katy Perry.
In return for helping these companies get off the ground in the hard-to-crack music industry, S-Curve will sometimes take an equity stake in the company, which is the case with Interlude. Greenberg expects that Interlude’s technology will extend well beyond music— he says there’s been interest from the advertising world, producers of online webisodes, and a content creators from a variety of other categories. In short, he says “the only limitation is the creativity of the people making the video — lightbulbs are going to go off when everyone sees it”.
VEVO
The third piece of the puzzle is distribution — you need people to actually see what Interlude, S-Curve, and Andy Grammer have put together. Cue VEVO, the music video portal that’s a joint venture between Universal Music Group, Sony Music Entertainment, and Abu Dhabi Media (EMI participates as well, and all VEVO content is syndicated to YouTube in a setup that still confuses me).
VEVO would be featuring Grammer’s music content anyway (S-Curve is distributed by UMG) but this video in particular is going to be given very prominent placement. The reason? It’s the first video to be part of VEVO’s new Video Evolved showcase.
VEVO CEO Rio Caraeff says that the site wants to do everything it can to feature innovative music content — he says that “music videos are ripe for reinvention” and he wants VEVO to be a place to help these experiments come to life. So the site is setting up a separate section that will highlight these new technologies as they launch. In some cases, VEVO will simply be embedding content from other services onto the Video Evolved site. But in the case of Interlude, VEVO has actually integrated the startup’s video player into its platform, so it will be hosting the content itself.
VEVO is also doing something special to mark the launch of its first truly interactive music video: the site will be tracking which ‘routes’ made through the video are most popular and after two weeks this version will be considered the ‘official’ release — it will be the version that’s given to other content channels like television and YouTube.
There’s a clear theme running through all of this: the desire to discover the future of music videos and their interplay with the web, whatever that may be. And while it’s far too early to say whether this interactive music video technology will be as ubiquitous as the “static” music videos that came before it, I can say one thing with certainty: it’s pretty damn fun. Sure, it’s quite possible that the novelty will wear off after a few of these, but I found myself watching the video repeatedly just so I could find Dwight — the last time I was this engaged in a music video was Britney Spears’ Sometimes. I finally found Dwight, and it seems like the labels won too: I now have this Andy Grammer song stuck in my head.
Galaxy Tab for Sprint confirmed for November 14th: $400 with two-year contract
PaperBecause: A Paper Industry Astroturf Defending Paper
How prescient! I just wrote that the dead-tree book is dying and a tipster sent us in this charming little site dedicated to the joy of paper – funded by a paper manufacturer, one of the biggest in the world.
Domtar is the “largest integrated producer of uncoated freesheet paper in North America and the second largest in the world based on production capacity” and business, thus far, has been good. Like buggy whip manufacturers, however, the writing is on the wall – a great deal of the paper they spew out will soon be replaced by bits.
While most of that information, including the lip-service to sustainability, is false, I don’t envy Dotmar’s position. They are a massive paper conglomerate and their bottom line is being attacked by a free newspaper app you can download for iPad. Their best customers for centuries are now, slowly, turning away from them. That said, the website is a ham-handed attempt (one example bit of advice “Senior Executives prefer print…A resume is a summary of your professional career, not a blog about what you had for breakfast.” That’s why they’re called Senior. Duh!) by an entrenched industry to keep making money.
Read the rest of this entry »
VLC downsized to fit on the iPhone and iPod touch, now playing in the App Store
Thursday, October 28, 2010
Samsung to unveil new Android device November 8th
Adobe confirms Flash Player 10.1 is coming to BlackBerry, Windows Phone 7 and more
Flash Player 10.1
Already one of the top free apps on Android Market, with more than 50,000 users giving it a 4.5-out-of-5 star rating, Flash Player 10.1 brings rich Flash based content to mobile devices inside the browser. The runtime is now certified on close to a dozen Android devices and will become available on dozens more over the coming weeks and months. Adobe also announced that Flash Player 10.1 was downloaded more than 2 million times from Android Market. In addition to Android Market, the runtime is distributed directly by device manufacturers and operators via pre-installs and operating system upgrades. Flash Player 10.1 is available on Android and Google TV today, with BlackBerry platform, HP webOS 2.0, future versions of Windows® Phone, LiMo, MeeGo, and Symbian OS also expected to support Flash Player 10.1. For a list of devices supported today, visit Adobe Flash Player 10.1 certified devices.
EVO 4G picks up stylish Powermat induction charger (video)
Five Years Later, Ray Ozzie Pens Another Great Memo: “Dawn Of A New Day”
Ray Ozzie, who famously took over the reins as Chief Software Architect at Microsoft when Bill Gates formally retired from the company (his last full-time day was June 27, 2008), stepped down from that position last week and will leave the company behind within months.
Ozzie, of course, you should know as the historical driving force behind Lotus Notes, a popular e-mail and collaborative workspace software package. He also co-founded Groove Networks, which was acquired by Microsoft in 2005.
Five years ago this week, Ozzie penned a memorable memo, 5,000 words long, entitled “The Internet Services Disruption”, outlining the challenge for Microsoft to catch up to its rivals in the Internet and cloud computing space.
He’s celebrating that birthday with a fresh memo: “Dawn of a New Day”.
Below is a short excerpt from the end of the memo, as I wouldn’t dream of stealing the man’s thunder (read the whole, 3,477-word thing here):
Let there be no doubt that the big shifts occurring over the next five years ensure that this will absolutely be a time of great opportunity for those who put past technologies & successes into perspective, and envision all the transformational value that can be offered moving forward to individuals, businesses, governments and society.
It’s the dawn of a new day – the sun having now arisen on a world of continuous services and connected devices.
(Hat tip to @ScepticGeek)
Daiwa House enlists Moggle for remote control crawlspace inspections
Wednesday, October 27, 2010
Facebook, Groupon And Zynga Investor Mail.ru (aka, DST) Shoots For $5.7B Valuation In IPO
Mail.ru Group, formerly known as Digital Sky Technologies and notable investor in Internet sensations Facebook, Groupon and Zynga, among others, has filed for a $876 million IPO on the London Stock Exchange that would value the investment firm at up to $5.7 billion.
That valuation is higher than expected (earlier reports predicted a $5 billion valuation).
Mail.ru, which includes largely Russian e-mail, social-networking and gaming sites, will float just over 3 million new shares and 28.59 million existing shares in the form of global depositary receipts at between $23.70 and $27.70 per GDR, it said in a regulatory disclosure.
Shares will be admitted to a Standard Listing on the LSE under the ticker ‘MAIL’.
To be clear, Mail.ru Group is the new name for DST’s Russian holding – its international investments are handled by DST Global, which has retained its name and will not float.
Part of the proceeds of up to $876 million (which, for your reference, would be slightly more than the total of capital raised by Facebook since its founding) from Mail.ru Group’s IPO will be used to increase the company’s stake in Russia’s biggest social network, vKontakte.ru, reports Russian business paper Vedomosti.
Mail.ru Group, which already owns social network Odnoklassniki.ru and ICQ, plans to buy a 7.5% stake in vKontakte for $112.5 million, increasing its equity stake from 24.99 percent to 32.49 percent. The investment values the site at $1.5 billion.
Mail.ru is also purchasing an option to acquire an additional 7.5% stake in vKontakte over the next year, which if exercised would bring its stake to 39.99%.
Mail.ru Group shareholders include Russian billionaire Alisher Usmanov, South African media company Naspers, China’s Tencent, Goldman Sachs, Tiger Global Management and DST founder Yuri Milner.
Goldman Sachs and J.P. Morgan Chase are acting as joint coordinators for the IPO, and the banks are working with Morgan Stanley and VTB Capital as joint book-runners in connection with the offering.
Verizon's Galaxy Tab won't have Skype, NFL Mobile, or V Cast video apps at launch
Venture Capital Sputters in the Third Quarter; Consumer Down, Business Services and Software Up
Dow Jones is releasing its third quarter venture capital numbers today, and the amount of money raised was down sharply from last quarter’s heady $7.7 billion distributed across 740 deals.
In the third quarter of this year, 662 companies raised just $5.4 billion. It’s not uncommon to see a muted third quarter in the venture business due to summer vacations, but this was the smallest amount raised in a summer quarter since at least 2005. Unless the fourth quarter outperforms, the industry will likely wind up in the same range as 2009's total of $23 billion raised by US companies, which is down by about 30% from recent years. That’s not surprising given the dearth of IPOs and the fact that venture firm fundraising is down too.
Still, there were few interesting surprises in the numbers.
Researchers saw a shift in investor attention away from consumer products and services and towards business and financial services. Almost as many business and financial services companies have raised money in first nine months of 2010 as did in all of 2009. Consumer goods and services, on the other hand, saw one of its weakest quarters since the recovery. Although year-over-year the numbers for consumer products and services held up, there was a sharp drop in dollars on a quarter-over-quarter basis, down from $985 million in investments in the second quarter to $621 million this quarter. The reason could be as simple as timing. Several big deals may have just closed in the second quarter and not the third. But it could indicate a frustration with rising valuations and the general frothy consumer Web mood.
The number of cleantech and healthcare deals was pretty steady but, in terms of dollars, it’s a different story. Healthcare has been weak this year, but energy and utilities have surged. Year-to-date dollars going into energy companies are up a huge 47% to nearly $2 billion.
There was also a 26% uptick in the amount of money going to software companies– a cool $1 billion this quarter. “Software” is an inherently broad category, but it has historically been the venture industry’s largest and most consistently profitable one.
It’s a ho-hum quarter overall, but there are seeds of cleantech delivering on its promise, a new generation of enterprise companies and a meaningful disruption of the finance-industry. At a minimum, these numbers show that more entrepreneurs and VCs want there to be.
On a can’t-we-all-just-get-along note, the survey found that there was an increase in venture capital firms and angels doing deals together so far, year-to-date, although to be fair it’s a small $282 million in co-investment out of some $18 billion raised so far in 2010. Returns may be a different matter for this generation of funds, but in terms of money flowing out, this is still a VC’s business.
Logitech Revue with Google TV torn down, netbook specs found within
LG Optimus T hitting T-Mobile on November 3 for $30
Innovalight Chief Awarded For Making Solar Cells (And Industry) More Efficient
The chief executive and president of Innovalight, Conrad Burke, won the 2010 Ernst & Young Emerging Entrepreneur of the Year award, the companies announced today, following the ceremony in Dublin, Ireland earlier this week. The award recognizes “entrepreneurs who are building and leading successful, growing and dynamic businesses” according to an E&Y press statement.
According to Innovalight’s website its silicon ink technology improves the photon to electron conversion efficiency of solar cells by one percent, which can drive the cost of solar energy down by six percent. Solar cells are semiconductor devices that convert photons from the sun into electrical current.
The U.S. Department of Energy backed Innovalight in 2008 with a $3 million grant for:
“…Developing very high-efficiency, low-cost solar cells and modules by ink-jet printing their proprietary ‘silicon ink’ onto thin-crystalline silicon wafers. The company’s contact-less printing process has been demonstrated to significantly reduce both the manufacturing costs and the complexity required to make today’s highly efficient [solar] cells and modules.”
Under Burke’s leadership, Innovalight has developed sales through licensing and collaboration deals with solar manufacturers, rather than through the manufacture and sales of its own solar photovoltaics. The company’s customers are major manufacturers seeking to increase the megawatts-per-year that they produce per line without increasing expenditures on new equipment. These include several of China’s top solar concerns, among them Yingli Green Energy, JA Power and as of last week SolarFun Power.
In January this year, the company raised $18 million in a series D round led by EDB Investments (EDBI) of Singapore, and joined by Vertex Venture Holdings (the venture subsidiary of Temasek Holdings in Singapore) and its pervious investors: Apax Partners, ARCH Venture Partners, Convexa Capital, Harris & Harris Group, Sevin Rosen Funds and Triton Ventures. That brought Innovalight’s total raised capital, mostly from venture, to about $60 million.