News about tech money and innovation by Matt Marshall and Michael Bazeley of the San Jose Mercury News.
The Mercury News will eliminate sixty more newsroom positions this summer, according to Grade the News. If true, this is tough news, because the Mercury News has long been considered the voice of Silicon Valley.
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Read Mercury News laying off about quarter of newsroom? (Links)
Pierre Grenier, who worked briefly at fast-growing San Francisco social network Piczo, saw the pain it and other companies had dealing with the “unmanageable” wave of content being produced, including hairy security, copyright and general brand management challenges.
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Read Keibi to harness user-generated content, after seeing chaos at Piczo (Links)
When John Doerr spoke at the Ted conference in March, he broke into tears at the end of a 20-minute talk about global warming. In other words, we’ve got to start at home to take urgent measures, to set an example and start pushing urgent measures internationally.
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Read Doerr?s crusade on global warming (Links)
It opened in March, but has just made its first commitments. The third fund, Bioprocess Ventures, was established by a biotech group Bioprocess and Silicon Valley veteran VC Pitch Johnson who set up his first fund in Silicon Valley with Bill Draper in 1962, over 40 years ago.
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Read Russia finally gets serious about venture capital (Links)
We checked with Google, and a spokeswoman confirmed the Korean site was developed in response to market research and feedback from Korean users. Google Street View continued — They should have called Google’s latest map service, Street View the Google Living Room View instead.
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Read Roundup: Google?s Korean clutter, Real?s player, Panoramio and more (Links)
LiveFuels, a Menlo Park, Calif. company seeking to turn algae into an alternative fuel, has raised a $10 million round of capital. The investor was David Gelbaum at the Quercus Trust, which has previously backed environmental organizations such as the Sierra Club and the Wildlands Conservancy.
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Read LiveFuels raises $10M to turn algae into alternative fuel (Links)
Multiverse, a Moutain View, Calif. company that provides a tool-kit for develops to build multiplayer online games and virtual worlds and then make money off them if they want, said it has raised $4.175 million in a first round of funding.
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Read Multiverse raises $4M for virtual world offering (Links)
Read Jazz slashes expected IPO price, follows ?date rape? controversy (Links)
EMI Music, the world?s third largest music label company, said it has reached a deal with Google and its YouTube property to allow YouTube users to exploit EMI music while creating videos. It means EMI songs bought on iTunes will work on other portable music players.
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Read GooTube strikes deal with EMI, after label shuns DRM with Apple (Links)
This comes after a report last week by law firm Fenwick & West showing that a greater percentage of companies negotiated higher valuations in follow-on rounds than in any other quarter on record (79 percent of SF Bay Area companies negotiated up rounds vs. 9 percent down).
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Read Private company values ? are they really dropping? (Links)
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