Archive for September, 2010
Wednesday, September 29th, 2010
DURHAM, NC – Durham-based Slate Pharmaceuticals Inc. has raised $1.99 million selling mixed securities, according to a regulatory filing. The company focuses on products to treat certain afflictions of maturing men and women.
Slate, founded in 2007 by a team of experienced pharmaceutical executives, currently markets Testopel, a treatment for low testosterone in men, in the United States.
Principals named in the filing with the US Securities and Exchange Commission disclosing the funding include Trygive Mikkelsen of T+T Holdings, a private investment company; and William Dahl, vice chair and co-foudner of Golden Pond Healthcare, Darien, CT.
The company raised $2.79 million in January, according to another filing with the SEC.
Tags: Biotech, Durham, financing, NC, Pharma, Slate Pharmaceuticals, Testopel Posted in Biotech, Carolinas, Healthcare, Money, North Carolina, Pharma | Comments Off
Wednesday, September 29th, 2010
RESTON, VA -Koofers Inc , a social learning company, has raised $5 million in Series A equity funding. Investors include Revolution, created by AOL co-founder Steve Case, and QED Investors, started by Nigel Morris, insiders, New Atlantic Ventures and Altos Ventures, which previously provided seed funding in 2008.
The new capital will be used to scale the company’s presence by expanding product development and customer adoption while adding even more content to enhance the user experience.
Koofers is a social learning company that empowers students to help each other learn by providing open and free access to: course materials, class and professor ratings, study aids and more.
Koofers has aggregated data from more than 400 universities and leveraged the power of social networks like Facebook to attract more than 310,000 college students who use the service to prepare for class, study more efficiently and save money.
By using social media and the “social graph” – a map of people and how they’re related on the web – Koofers can create a rich learning opportunity for college students by connecting them to relevant educational content and to one another.
“Koofers is driving the reinvention of our university system,” said John Backus, founder and managing partner, New Atlantic Ventures.
“Traditionally, academic education has been top-down, with the wise teacher imparting knowledge, one way, to the blank-slate mind of the student. Social media on the web destroys this hierarchy and creates a level playing field for knowledge around the world, where students and professors learn from and teach each other.”
Koofers provides free academic course materials, public course and professor ratings, historical grade distributions, digital flashcards, textbook price comparisons, and a class schedule maker.
We’ve lost count of the number of education related tech companies that chalked up funding rounds this year.
Many are headquartered in the Potomac region, where both Blackboard and the Washington Post Company’s Kaplan are also major players.
Eventually major consolidation of these firms is likely to occur, with the question being, which company will start picking up the pieces.
–Allan Maurer
To contact TJS editor Allan Maurer: Allan at TechJournalSouth dot com.
Tags: Altos Ventures, John Backus, Koofers, New Atlantic Ventures, Nigel Morris, QED Investors, Revolution, social learning tech, Steve Case Posted in Education, Internet/New Media, IT, Money, Potomac, Virginia | Comments Off
Tuesday, September 28th, 2010
 Erick Hachenburg, CEO, Metacafe
By Allan Maurer
SAN FRANCISCO – Short video clips focused on entertainment channels – music, movies, TV, video games and sports and a niche model like cable TVs is the way to go in the online video world for Metacafe, says CEO Erick Hatchenburg.
Metacafe is one of the world’s largest video sites, attracting more than 40 million unique viewers each month (comScore Media Metrix). But it decided several years ago to drop a focus on user generated video and instead specialize in short clips from its entertainment channels.
“Online video is a very competitive space with 800 pound gorillas such as Hulu, YouTube, and others. But it is the future of the Internet,” says Hatchenburg. “But it’s still early in the online video industry. There is still so much to create and build.”
YouTube has pretty much sewn up the post-your-own video and the be-everything-everybody online video space, Hatchenburg says. Other sites, such as Hulu.com, are providing full length TV episode and movies. They’re more like broadcast TV models that try to be everything to all people.
Do one thing well
But the average video on Metacafe is just over 90 seconds from one of its five entertainment verticals, a model more like cable TVs where niche channels offer everything from religion to Sci-Fi.
“We want to do one thing really well,” Hatchenburg says.
“People come to Metacafe looking for an entertainment break in their day,” says the company’s self-description, and that’s what it offers.
“We curate the site. We want to find the freshest, latest, most compelling content to place at the top of the page. But if you can then connect the head of the curve to the longtail, you really have something special. What we’re trying to do is to have you watch three to five great videos every time you come to the site.”
Metacafe hired a team of specialists to program the top of the site, but he notes, “You need the longtail to grow the business.”
Consolidation coming
Metacafe recently beefed up its sports coverage with the recent acquisition of ActionSports, and Hatchenburg expects to see continued consolidation in the web video space. He also expects Metacafe to be a player, buying innovative, creative companies that help it meet its goals.
According to the Wall Street Journal, Highland General invested in a $30 million round of funding in 2007 with Accel Partners, Benchmark Capital, DAG Ventures and Highland Capital Partners. The company raised another $5 million from the same investors in May.
Hatchenburg is one of more than 50 top Internet executives, entrepreneurs, venture capitalists and other participants at the first Digital East event scheduled for Oct. 17 at Tysons Corner, VA.
Tags: Digital East, Eric Hatchenburg, Hulu.com, Metacafe, online video, YouTube Posted in Events, Internet/New Media, Potomac, Virginia | Comments Off
Tuesday, September 28th, 2010
CHANTILLY, VA - U.S. mobile local advertising revenues will increase from $213 million in 2009 to $2.02 billion in 2014, representing a compound annual growth rate (CAGR) of 56.9 percent, according to a newly released update to BIA/Kelsey‘s U.S. Local Media Forecast (2009-2014).
BIA/Kelsey defines mobile local advertising as advertising that is targeted based on a user’s location and/or advertising that is locally actionable. For large and small advertisers alike, location targeted ads will command premiums over non-local advertising, due to higher immediacy, consumer buying intent and conversion levels.
“We expect advertisers will be drawn to mobile marketing as the overall market shifts to digital ad platforms,” said Neal Polachek, president, BIA/Kelsey. “A lack of traffic to fulfill quotas on geotargeted ads will likely accelerate mobile Web site and application development by publishers.”
Regarding influencers of mobile ad growth, Michael Boland, senior analyst and program director of BIA/Kelsey’s Mobile Local Media practice added, “As we’ve seen in the online space over the past decade, tools will be introduced to democratize and localize the mobile ad buying process. Google has already begun to bundle mobile ad placements within its pervasive AdWords search marketing platform.”
BIA/Kelsey cites smartphone penetration, mobile Web usage and related increases in ad inventory as additional mobile ad growth drivers.
The Big Picture on Local Media
BIA/Kelsey expects total local advertising to grow from $130.6 billion in 2009 to $145.2 billion in 2014, representing a CAGR of 2.1 percent. Comprising total local advertising is traditional local media, which will decline from $115.1 billion in 2009 to $110 billion in 2014, a CAGR of negative 0.9 percent, and online/interactive local media, which will grow from $15.5 billion in 2009 to $35.2 billion in 2014, a CAGR of 17.4 percent.
Tags: BIA/Kelsey, Chantilly, Local Media Forecast, mobile local advertising, Report, VA Posted in Internet/New Media, IT, Marketing, Money, Studies, surveys, reports, Telecommunications | Comments Off
Tuesday, September 28th, 2010
RESEARCH TRIANGLE PARK, NC – ZenBio Inc. has been awarded a Phase II SBIR grant to continue its breast cancer research program. The $1.2 million award from the National Institutes of Health will fund studies to isolate and characterize primary basal and luminal mammary ductal cells from cancerous and non-cancerous human breast tissue.
Investigations point to a critical role for luminal cells in cancer progression and as therapeutic targets. The scarcity of primary human luminal cells from normal and cancer tissues has made it difficult for researchers to perform comparative studies to investigate the etiology, progression, and potential cures of breast cancer.
To address this need, ZenBio is developing methods to isolate and propagate donor matched luminal and basal cells as a human cell-based model system.
“Our Phase I studies established basic methods to isolate both basal and luminal cells from the same donor tissue” said Ben Buehrer, Ph.D., ZenBio’s Vice President and Principal Investigator of the program.
“The Phase II program extends these studies to include breast cancer cells and comparative analyses to non-diseased cells. Our overall goal is to provide a well characterized model system of matched normal and malignant cells for basic and discovery research that may lead to novel discoveries and effective therapeutics.”
Tags: Biotech, breast cancer cell study, SBIR grant, ZenBio Posted in Biotech, Carolinas, Money, North Carolina, Pharma | Comments Off
Tuesday, September 28th, 2010
 Ray Carey
RESEARCH TRIANGLE PARK, NC -NeoNova Network Services Inc., a provider of managed broadband services for Telcos, has named Ray Carey CEO and Chair. Carey has been on the NeoNova board for the past three years.
Current CEO, John Carlson, will remain on NeoNova’s board.
For the last decade, Carey was a General Partner with Azure Capital Partners, where he will remain as a Venture Partner. During that time, Carey focused on leading companies that provide technology and solutions to the telecommunications market.
Carey has been actively involved in NeoNova since early 2008 when he led Azure’s investment in the company alongside Bridgescale Partners.
While at Azure Capital Partners, he was also involved with other leading companies in the broadband market including Calix Networks, Cyan Optics, Vapps, Inc., and World Wide Packets.
Prior to Azure, Carey worked at Credit Suisse First Boston where he provided strategic advice to several companies including ADC Telecommunications, Cerent (acquired by Cisco), Juniper Networks, and Zhone Technologies.
“We see a huge market opportunity with the future of broadband and realize that Ray has had a tremendous impact on the industry to date,” said Paul Weinstein, General Partner, Azure Capital Partners. “We are thrilled that he can take his knowledge and make this seamless transition to the CEO role.”
Tags: Azure Capital Partners, broadband, NC, NeoNova Network Serivces, Ray Carey, Research Triangle Park, telecom Posted in Carolinas, IT, North Carolina, People, Telecommunications | Comments Off
Tuesday, September 28th, 2010
WEST PALM BEACH, FL – FTI Consulting Inc. (NYSE: FCN) announced today that it has entered into a new five-year $250 senior secured revolving line of credit which refinances its existing $175 million credit facility.
Subject to certain conditions, at any time prior to maturity, the Company will be able to invite existing and new lenders to increase the size of the facility up to a maximum of $325 million.
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organizations protect and enhance enterprise value in an increasingly complex legal, regulatory and economic environment.
It employs 3,500 people globally.
Tags: credit line, FL, FTI Consutling, West Palm Beach Posted in Business Briefs, Florida, Money | Comments Off
Tuesday, September 28th, 2010
AUGUSTA, GA – REACH CAll Inc., which has developed a telemedicine system, has closed on a $5 million first round financing led by Nashville, TN-based Council Ventures with Crof & Bender Capital, Atlanta, a co-investor. Georgia Health Sciences University (formerly the Medical Colleges of Georgia), an existing investor, participated.
We have reported on REACH since its inception, including earlier this month when it named Ken Rardin president and chief executive officer.
REACH was founded in 2006 by a group of neurology and emergency medicine physicians from the Augusta-based Georgia Health Sciences University (formerly known as Medical College of Georgia).
REACH is transforming the paradigm of virtual health care by enabling specialists such as neurologists to evaluate and diagnose patients 24/7 in remote, underserved and even urban locations.
REACH’s evidence-based software protocols enable clinically rich collaborations in time-critical emergency situations such as stroke, regardless of distance. That allows even under-staffed rural health care providers to offer patients leading edge care guided by a specialist.
“Our technology is helping physicians improve the quality of stroke care every day,” said David Hess, M.D., chairman of REACH’s board of directors and chairman of the Department of Neurology at the Georgia Health Sciences University. “REACH has provided cost-effective and easy-to-use technology with comprehensive services that enable telemedicine programs to thrive.”
The new funding will support REACH’s continued expansion into acute care services in the burgeoning telemedicine market. REACH will grow its national sales and marketing operations and invest in R&D to expand into new clinical specialties.
“There is a lot of growth capital available to health care companies, but very few professional investors have the knowledge, experience and breadth of health care industry relationships that Council Ventures brings to the table,” said Rardin.
“I have raised more than $1 billion over my career and have learned to seek out investment partners that bring far more to the table than just capital. Council Ventures has a unique business model that is supported by successful health care business executives who are investors and are aligned with successful investment partners.”
Posted in Georgia, Healthcare, Internet/New Media, IT, Money | Comments Off
Tuesday, September 28th, 2010
WASHINGTON, DC – AOL may be on the verge of buying the popular TechCrunch blog founded by attorney Michael Arrington, according to the web site Gigaom, which cites unnamed sources.
Om Malik reports that “the deal is at a sensitive stage and may fall apart yet, but I don’t think so.”
If it happens, the deal is likely to occur on stage at the TechCrunch Disrupt event underway in San Francisco.
AOL has been rapidly expanding its content offerings, including local city reporting and blogs. TechCrunch is one of the best known and most popular blogs in the tech sphere.
AOL CEO Tim Armstrong, who may appear at the Disrupt event if these reports pan out, has said AOL plans to become a major employer of online journalists and bloggers.
So far, its efforts have not resulted in better financial numbers for the once dominant AOL, which does still employ many people in the Potomac region, although it moved its HQ to New York.
Former AOL executives, including founder Steve Case, have been active investors and entrepreneurs, seed funding and starting many companies.
Tags: Acquisitions, AOL, Disrupt, Michael Arrington, Steve Case, TechCrunch Posted in Acquisitions, Business Briefs, Internet/New Media | Comments Off
Tuesday, September 28th, 2010
By Jamie MacVicar
A marketer recently wrote, “In the age of facebook and twitter the winners will be those who know how to work the phone.” In today’s soft economy that’s a perfect segue to the perennial question that is stronger than ever.
How do I maximize my marketing and advertising dollars, and how do I close the sale?
The advance men for Ringling Bros. and Barnum & Bailey Circus have for years exercised an extraordinary talent. And it isn’t their media buying expertise; though in that regard they are savvy.
Nor is it their advertising’s creative impact; though their illustrated posters are considered works of art. Their genius has been how much exposure they’d get for free – air time and space that wouldn’t cost a dime. A Ringling promoter once exclaimed, “If I have a $30,000 budget by the time I am through I’ll have $300,000 worth of exposure. They did this two ways:
1) First, by the use of three chips: cash, trade, and promotion. Both the media and the circus have something that costs them nothing that they both want to get rid of. In the case of the circus, it is unsold seats, and in the media’s case it is unsold time or space.
An advance man’s approach to a local radio station would typically be, “I’ll give you five thousand dollars for ten spots a day to run in drive time over two weeks. In addition I will trade you four hundred tickets – good for Mondays through Thursdays – for another ten spots a day for two weeks.
And I’d like to do a co-promotion (perhaps our king and queen promotion; whereby, teachers submit the names of outstanding students) where you give the tickets away over the air for another ten spots a day the preceding two weeks.”
2) The second approach didn’t cost the circus anything. A company such as Safeway with a large advertising budget would be pitched on a circus tie-in.
The advance man might give the grocery chain two thousand discount tickets good for weekday matinees and evenings. Safeway would be given a special “Safeway Night at the Circus” enhanced by their own Honorary Ringmaster and VIP seats. In turn the circus and the full dates of its engagement would be announced in all of Safeway’s advertising and in-store promotions. This would go on for a month as Safeway stuffs the coupons in each family’s bag.
And it’s a win-win for everyone! With the discount coupons Safeway attracts new customers. Families that might not be able to afford the full priced ticket receive a healthy discount. And the circus, only too happy to receive 70% of the ticket price (plus concession sales) for a weekday show, gets an unimaginable amount of free advertising and exposure.
With variations on these themes and a grab-bag of promotional ideas these trade-outs and tie-ins would be repeated all over town for what amounted to a short-term market saturation. In compliance with accounting rules, and some creative thinking, any business today could increase their advertising exposure through similar strategies.
-Back to the Basics-
But the advance men knew that nothing comes from nothing. Somebody has to act, and that the most successful business people, from P.T. Barnum to Steve Jobs, have realized that, in the end, somebody has to sell something to someone. In fact, probably 80% of the most productive and consequential time that a marketing executive will spend will be in one-on-one personal sales.
Rarely will an email, a twitter, or a brochure make a sale. But personal, congenial, professional contact often does. But with the modern day computer a certain impersonalized distance has developed in the business world. A distance that could be mitigated by picking up the phone and making a sales call, the old-fashioned way.
But prospect calling isn’t easy. By nature, we all want to feel accepted, and rejection is a part of any sales effort. That same trepidation can lead to inactivity, or wasted, unproductive time behind the computer. So here is how you can make it easier:
1. Find your rhythm, your highest positive energy of the day. For me it’s mornings. From 8 a.m. until noon I am fearless. At 9 a.m. I’d call Vladimir Putin and pitch an idea! But my confidence fades in the afternoon. So it’s mornings that I make my sales calls. No interruptions. I then schedule my presentations for the afternoons, leaving my mornings free – for more sales calls.
2. Smile when you speak into the phone. It will show in your voice.
3. Today’s selling is far more consultative. Your first call isn’t meant to sell anything. It’s to open a dialogue, and get an appointment.
4. Use referrals no matter how obscure. The prospect is more likely to listen when you start by saying, “So and so spoke highly of you and suggested that I give you a call.”
5. Sell like to like. People are more receptive when they hear that a company or someone they know has done a similar tie-in or promotion.
6. And most important of all, focus almost solely on their “needs,” not yours, and more often than not you will close the sale.
In summary, there are numerous win-win alliances that can multiply your advertising dollars. But we mustn’t forget that all things start from actions…actions worthy of P.T. Barnum that emanate from the heart of a good salesperson.
Jamie MacVicar is the author of the newly released non-fiction narrative “The Advance Man: A Journey Into the World of the Circus,” about his experience as an advance man for Ringling Bros. and Barnum & Bailey Circus.
Contact Jamie at jmacvicar@cox.net.
Posted in Business advice, Marketing, Viewpoint | 1 Comment »
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