Venture Financing Looking Up, Sorenson Media Launches Online Video Technology, Avalon Ventures Buys Copley Building, & More San Diego BizTech News
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—San Diego’s Avalon Ventures founder Kevin Kinsella told me the firm’s investment in San Francisco-based Zynga, which develops multiplayer browser games like FarmVille and Mafia Wars, might yield the best returns in Avalon’s 27-year history. Kinsella also told me Avalon Ventures has purchased the La Jolla office building that was previously the corporate headquarters for the Copley Press, the former longtime publisher of the San Diego Union-Tribune and other newspapers.
—A venture financing report released by the Cooley law firm (previously known as Cooley, Godward, Kronish) says there were more “up rounds” than flat or “down rounds” in the first quarter of 2010. That’s the first time that’s happened since the summer of 2008. An up round reflects the increased valuation of a venture-backed company, while a down round means the company is worth less than it was in the previous financing round.
—After gaining experience with its Sorenson 360 online video platform (OVP) with small and medium businesses, Carlsbad, CA-based Sorenson Media introduced an upgraded version of its OVP for big media and enterprise customers. CEO Peter Csathy told me Sorenson is … Next Page »