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The Wing poaches Snap’s comms director

Women-focused co-working space The Wing has hired Rachel Racusen as vice president of communications. Racusen has been the director of communications at Snap, the developer of Snapchat, since late 2016.

Racusen’s exit represents the latest in a series of departures at the “camera company.”

Earlier this year, the company’s chief financial officer Tim Stone stepped down. Shortly after, The Wall Street Journal reported that Snap had fired its global security head Francis Racioppi after an investigation uncovered that he had engaged in an inappropriate relationship with an outside contractor. Snap CEO Evan Spiegel reportedly asked the company’s HR chief Jason Halbert to step down as a result of the investigation’s findings.

Racusen worked under Snap’s chief communications officer Julie Henderson, who had joined late last year from 21st Century Fox.

Racusen has a history in politics similar to several other executives at The Wing. Ahead of her Snap tenure, she served as the associate communications director under President Barack Obama . Before that, she was a vice president at MSNBC and the public affairs firm SKDKnickerbocker, where The Wing co-founder and chief executive officer Audrey Gelman worked prior to launching her business.

Four months after closing a $75 million Series C, The Wing is making two other key additions to its management team. The company has brought on Nickey Skarstad as vice president of product and Saumya Manohar as general counsel. Skarstad joins from Airbnb, where she was a product lead on the Airbnb Experiences team. Saumya Manohar spent the last three years as Casper’s vice president of legal.

Backed by Sequoia Capital, Upfront Ventures, NEA, Airbnb, WeWork and others, The Wing has raised more than $100 million to date.

“We’re thrilled to be bringing this group of seasoned and talented women to build out our executive team,” Gelman said in a statement. “The Wing is the perfect home for leaders who thrive on fast growth and want to combine their social values with their work practice.”

Apeel partners with Nature’s Pride to bring spoilage resistant fruits and veggies to Europe

Apeel Sciences, the developer of a new technology that makes fruits and vegetables more resistant to spoilage, and Nature’s Pride, one of the largest vendors of avocados and mangos in Europe, are partnering to bring longer-lived avocados to market.

Subject to regulatory approval in the EU, Nature’s Pride said it will integrate Apeel’s plant-based preservation technology into its avocado supply chain — bringing avocados with double the edible shelf life to European homes.

Apeel’s technology takes the naturally occurring chemicals found in the skins and peels of plants and applies it to fresh produce, providing what the company calls “a little extra peel” that slows the rate of water loss and oxidation — which cause vegetables and fruits to spil.

The company says that its produce will stay fresh two to three times longer than untreated produce. Apeel touts that its technology can lead to more sustainable growing practices and less food waste.

Across Europe, 88 million tons of food is thrown out every year, at a cost of 143 billion euros (or roughly $163 billion dollars).

As part of the agreement with Nature’s Pride, Apeel Sciences is introducing a co-branded label with the European fruit supplier.

Founded in 2012 with a grant from the Bill & Melinda Gates Foundation to help reduce post-harvest food loss in developing countries that lack access to refrigeration, Apeel Sciences is backed by a slew of marquee investors including Andreessen Horowitz, Viking Global Investors, Upfront Ventures, S2G Ventures, Powerplant Ventures, DBL Partners, The Bill & Melinda Gates Foundation, UK Department for International Development, and The Rockefeller Foundation .

Southern California needs to find its hub for it to develop its own tech ecosystem

Recognizing the tens of billions of dollars that the Southern Californian region leaves on the table, because it hasn’t taken its rightful place in the American technology industry, a new group called  the Alliance for Southern California Innovation has just released a report to analyze how SoCal can work to assume its pole position.

Through interviews with 100 leaders of the technology ecosystem and an analysis of venture capital funding for the region, the organization has concluded (with the help of the Boston Consulting Group) that the promise of a regional rival to Northern California’s silicon valley won’t be fulfilled without the establishment of a geographic hub and a willingness to overcome regional differences.

Founded by Steve Poizner last year to accelerate the growth of a startup entrepreneurial ecosystem in Southern California, The Alliance is building a network of investors, entrepreneurs and universities to provide ballast in the south to the dominance of the Northern California tech industry.

The Alliance estimates that Southern California’s tech community could be one-third the size of Silicon Valley’s by supporting or further developing the six pillars it already has for innovation to occur.

The potential impact making these changes could have is an added 200,000 new jobs and growth of $100 billion for the whole economic region.

“Over the past several years we have observed a significant decrease in startups leaving SoCal,” said Greg Becker, CEO of Silicon Valley Bank . “We’ve also seen a substantial inflow of venture capital from all over the world.”

In fact, as is well-reported, the luster of Silicon Valley is fading. As BCG writes in its report:

The good news for SoCal and any region with tech ambitions is that the Bay Area has in some ways been too successful. Our research revealed a saturation level causing unprecedented challenges, starting with exorbitant housing prices and runaway operating costs that accelerate a startup’s “burn rate”—its monthly spending.

Los Angeles investor Mark Suster, a general partner with Upfront Ventures, has been beating the drum for Los Angeles as a new tech hub for a while — and billion dollar exits for Ring and Dollar Shave Club, in addition to the public offering for Snap, lend credence to his position.

Suster has also noted for years that the region produces more technology doctorates than any other geography in the United States. Caltech generates more patents than any other university while UCLA boasts more startups founded by its graduate than any other school in the nation. Meanwhile, UCSD in San Diego has a deep bench of biotechnology expertise stemming from its proximity to the Sanford Consortium for Regenerative Medicine, the Salk Institute, and the Scripps Research Institute.

However, to thrive, BCG recommends taking six steps to bolster the the ecosystem and its chances to begin to catch up to Silicon Valley.

The consulting firm says that Southern California needs more local venture capital; the individual geographies need to work to promote their regional strengths; regions need to collaborate more closely with each other; founders need to start gunning for that IPO slot instead of taking acquisition offers; the region’s commitment to diversity needs to be emphasized; and finally the embarrassment of entrepreneurial riches needs to be promoted abroad.

“Southern California is a region of extreme innovation; however, it is so spread-out, making it hard to navigate,” said Steve Poizner founder and board chair of the Alliance, in a statement. “We believe by finding, filtering and aggregating exciting startups from top universities, research institutes, and incubators/accelerators, we can demonstrate the combined strength of SoCal in a compelling way to top investors and thought leaders.”

NVCA chair on immigration orders: “If you’re not at the table, you’re on the menu”

U.S. President Donald Trump speaks before signing an executive order surrounded by small business leaders in the Oval Office of the White House January 30, 2017 in Washington, DC. Trump said he will "dramatically" reduce regulations overall with this executive action as it requires that for every new federal regulation implemented, two must be rescinded. (Photo by Andrew Harrer - Pool/Getty Images) Venky Ganesan, managing director of $4.4 billion venture capital firm Menlo Ventures and current chairman of the National Venture Capital Association, is walking a political tightrope and trying not to fall off. The venture capital industry, financiers to many tech giants, relies on immigrant talent to launch startups, help them thrive, and drive their continued success. Right now, that puts… Read More

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