MaxLinear Scores Successful IPO, $321M V-Vehicle Loan Request Rejected, Genomatica Raises $15M in VC Funding, & More San Diego BizTech News
It’s been a while since San Diego’s high-tech community saw this much deal news in one week—and most of it was good news, too. We gathered it all in one place for you here.
—Investor demand helped boost Carlsbad, CA-based MaxLinear’s shares (NYSE:MXL) by 33 percent on their first day of trading, with volume of nearly 6.9 million shares. MaxLinear, which makes wireless semiconductors for receiving and processing television and video signals over a broadband wireless connection, got about $50 million of the almost $90 million raised in the initial offering of 6.4 million shares, which was priced at $14 per share.
—Connect, the San Diego nonprofit group for technology and entrepreneurship, found that 319 startups were launched in 2009, about 13 percent more than the 282 startups of 2008. The data point was just one part of a report on San Diego’s innovation economy that Connect released for the fourth quarter of 2009.
—The Department of Energy turned down an application for $321 million in loans submitted by San Diego-based V-Vehicle, a venture-backed startup automaker that planned to build a factory in Northeastern Louisiana. The V-Vehicle Co. sought funding under the DOE’s Advanced Vehicle Technology Loan Program for what it called … Next Page »