Links 11/26/2013: Report - Über said to be raising funds at $40 billion valuation



Uber Said to Be Raising Funds at $40 Billion Valuation (Bloomberg)

Hewlett-Packard Profit Declines as Breakup Plan Begins (New York Times)

Veeva Stock Jumps After Q3 Earnings, Guidance Beat (Investor's Business Daily)

Veeva Announces Fiscal 2015 Third Quarter Results (Veeva Systems Press Release)

Veeva encouraged to tap CRO industry after inVentiv puts head in the cloud (Outsourcing Pharma)
Based in California, Veeva Systems has a significant presence in Delaware and Montgomery Counties.


SAP Set To Wrap Up $8.3B Concur Acquisition (CRN)


Zayo Rising: Underwriters Unanimously Start Dark Fiber Vendor at Buy (Barron's Tech Trader Daily)

Google Fiber applies for service franchise to bring FTTP service to Tennessee (FierceTelecom)

No blackout ahead: Netflix already ditched Silverlight for Chrome (Gigaom)


Marc Lore's startup Jet offers equity to a few people who bring in the most referrals



Tom Paine



 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email


Jet, the New Jersey ecommerce startup founded by Marc Lore, who sold his previous startup Quidsi (Diapers.com, etc.) to Amazon, offers special benefits on its website to early signups to its Jet Insider program: free membership, early access, and maybe even Jet stock.




By signing up for Jet Insider, you get a free six-month membership. Increasing awards come with the number of referrals you bring to Jet, but if I understand correctly you would have to be among the top 10 in referrals to earn 10,000 shares while the number one referrer earns 100,000 shares.

Of course, no one knows what those share may ultimately be worth, though Jet has raised at least $80 million to date. Jet plans to use advanced ecommerce technology to compete on price on selected items with Amazon.

Lore is a Wharton grad and Penn-related MentorTech Ventures is an investor in Jet along with other much larger funds. MentorTech was also an investor in Quidsi. Jet is based in Montclair.


Links 11/25/204: Much of Eniac reconstituted, on display in Oklahoma






 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email



How the World’s First Computer Was Rescued From the Scrap Heap (Wired)

Unisys Announces Progress in Leadership Transition; Appoints Interim Chairman and Interim CEO (PR Newswire)


HR software maker Workday's revenue forecast disappoints, shares fall (Reuters)

Workday Takes Investor Heat For Light Outlook (Investor's Business Daily)



Customers say SAP knows too little about their businesses (ComputerWeekly.com)

ShopRunner CEO Scott Thompson on battling Amazon, the Alibaba connection, and Black Friday madness (Upstart)



Fort Washington firm offers high-tech hiring (Philadelphia Inquirer)

Arris Stays On Top Of Cable Access Heap (Multichannel News)


First Round Capital. first institutional investor in Uber, has yet to comment on controversy


Tom Paine



 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email

Josh Kopelman/ Uber Blog

Josh Kopelman and First Round Capital are in an interesting position relative to Uber, although there might not be much they can do to influence it.

I wrote in June about how First Round Capital came to lead the seed round in Uber, as described by Business Insider. The First Round team knew of the concept of Uber through its association with Garret Camp, co-founder of FRC-backed StumbleUpon who reportedly came up with the idea for it (Camp at last word is Uber's non-executive chairman). FRC became Uber's first institutional investor. Now, by Fortune's assumptions, those seed round stakes of $500,000 may be worth up to $1 billion or more. And there is talk of raising another round at a somewhat higher valuation.

Kopelman is also, personally, an investor in Sarah Lacy's website PandoDaily, as is a partner with another VC firm that's invested in Uber (at least two other VC firms have invested directly in both). Lacy has been in many ways at the center of the conflict with Uber.

The long-simmering, but relatively quiet, controversy about Uber's corporate behavior exploded after BuzzFeed's piece published November 18 alleged that a senior Uber executive, Emil Michael, suggested at a dinner with media present (thought to be off the record) that it might hire opposition researchers to look into reporters' personal lives. That stirred up several other questions about Uber's corporate behavior. Despite CEO Travis Kalanick's tweeted apologies for Michael's comments, a lot of crap is still flying from all sides, as they say.

Some have tried to portray this struggle in political terms, though along confusing lines; some compare Uber users to Republicans, while others compare Uber to a progressive movement against a long-entrenched taxi monopoly trying to halt progress. No doubt a key hire is former Obama campaign manager and top White House aid David Plouffe (I wrote about his hire in August, and pointed out his Delaware roots) as SVP, Policy & Strategy. I don't know how much his fingerprints are on Uber's PR yet, but his aggressive tactics and dependence upon social media influence at the grass roots level as used on the Obama campaigns might be evident here.


Kopelman hasn't commented (and didn't respond to a Philadelphia Business Journal request for comment). Garret Camp hasn't commented. I tried to find out the current makeup of Uber's board but found multiple versions on the web and none on Uber's website; a request for an update to Uber was not answered.

Lacy said on Fox Business Wednesday that she emailed several common investors in Pando and Uber that "said, you know, I need to know frankly for our relationship what the ground rules of journalism are between your firm and Pando. And frankly, for the safety of my family, where do you stand on this alleged proposed plan to spend $1 million discrediting me? And no one’s written back" as of Wednesday.

Kopelman personally made an appearance behind the wheel for UberX in its abortive attempt to start up in Philadelphia in late October, before the PPA crackdown. And he followed up with a string of tweets pointing out some other ridiculous laws on the books in Pennsylvania.

To be sure, FRC is a small minority shareholder in Uber at this point. If its shares were worth $1 billion as of the last valuation, it was out of a total of $18.2 billion post money (after the funds were booked). Fortune's Dan Primack commented in today's TermSheet email that he didn't know how Uber is structured, "but do know that many of Silicon Valley's hotter startups structured their early investment rounds in a manner that precludes actual VC control." (Update: Primack: Don't overstate investor power at Uber. I don't think FRC has a board seat any more, as often happens. I believe Rob Hayes was taken off to make room for a larger investor.

There is a legitimate debate over the degree of regulation required in the Taxi industry, though its over regulated now. I'm not going to draw a conclusion on how Uber has acted, though it does seem in several respects to be boorish and overbearing. Many First Round Capital portfolio companies have pushed it to the brink in the process of creating a new market or service, and have tested the legal system while doing so (think Aereo), but have almost always been above board ethically. But Uber presents a different set of issues, that may or may not be smoothed over, at a critical point in its growth trajectory.

Update 11/25: Uber directors (per Form D filed with SEC 11/13/2014) include Travis Kalanick (CEO), David Bonderman (TPG Capital), Garret Camp, David Drummond (Google), Ryan Graves (Uber Head of Global Operations) and J. William Gurley (Benchmark Capital).


Update 11/26: Bloomberg reports that Uber is seeking to raise another $1 billion at a $40 billion valuation.


Links 11/24/2014: Where does SAP’s ‘new Core’ fit into its Cloud Strategy? Workday beats Q3 expectations






 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email



Prepare for SAP’s Five-Year Plan to Fight Back in the Cloud (Q&A) (Re/code)

Deciphering s-Innovations – where does SAP’s ‘new Core’ fit into its Cloud Strategy (Diginomica)

User Group says SAP must make it easier to get business case help (Diginomica)

Host Analytics Raises $25M And Says Next Step Is IPO (TechCrunch)

Swelling Data Feeds Analytics Demand (Bloomberg)

Despite loss, Workday beats Q3 earnings expectations (ZDNet)


This software entrepreneur wants executives to think like cartographers (Fortune)
Jack Dangermond, founder of mapping software company Esri.

Canadian firm buys AirClic for $30M (Philly.com: Philly Deals)


SMBs get their very own Salesforce app store (PC World)

VMware’s vCloud Air ‘knocks Amazon Web Services out of the park’ claims Bluefin head of IT
(Computing)


Luxury retailers are watching you
(CNN Money)

ESPN Gets Ready to Launch Its First Web Video Subscription Service — For Cricket’s World Cup (Re/code)


Philly Tech People News 11/23/2014: Leading Enterprise Software analyst Kanaracus joins ASUG; Xtium names new CEO







Subscribe to Philly Tech People News by Email



Taubman Hires Top Sports Banker
(New York Times: Dealbook)
Taubman is building PJT Partners, a boutique investment bank to be spun off from Blackstone next year. Among the deals its
currently involved in is Comcast/Time Warner Cable.

Jonathan Becher Named Chief Digital Officer and Leads SAP Digital; Maggie Chan Jones Will Join SAP as Chief Marketing Officer (PR Newswire)


Grady Steps Down as NJ Pension Chairman (Chief Investment Officer)

SevOne's SVP, Operations, Tanya Bakalov and Chief Legal Officer Diane Pyron Win Stevie® Award in 2014 Stevie Awards for Women in Business (Marketwire)
Here's the remainder of the Stevie Award winners, including Kimberly Gress of Dell Boomi in Berwyn and At Media co-founder Antoinette Marie Johnson.

Devesh Raj Joins Comcast Corporation as Senior Vice President of Strategic and Financial Planning (Business Wire)

Managed Cloud Hosting Company Xtium Appoints David Rode as CEO (Talkin' Cloud)

Why I Joined the ASUG Team
(Chris Kanaracus/senior editor and senior research analyst-ASUG)
Kanaracus has provided excellent coverage of enterprise software for IDG' PC World for several years. ASUG is the Americas' SAP Users' Group.



RightCare Co-founder Recognized by the American Academy of Nursing for Her Commitment To Reducing Readmissions and Improving Patient Outcomes
(Business Wire)

JetPay Corporation Appoints Pete J. DuPré as Chief Information Officer (Business Wire)

InterDigital Adds Former Nokia Executive Kai Oistamo to Board of Directors (Globe Newswire)

Facebook Co-Founder Named CEO Of Philo (Multichannel News)

Bret Piano, Named VP/Group Director Of Strategy & Analytics At Digitas Health LifeBrands Philadelphia
(AAAA)

Andy DelQuadro Joins MayoSeitz Media as Director, Digital Strategy (PR Web)




Cash Is for Losers! (Bloomberg Business Week)
Detailed article on Philly-born Venmo, including its early days, how its acquisition by Braintree (in turn acquired by PayPal) was almost out of desperation, the fact that despite the enormous volume of mobile payments it processes it generates minimal revenue, and how its co-founders' current roles at Venmo appear unclear.

The planned spinoff of PayPal by EBay will likely increase the attention Venmo receives.




Comcast Stretches Broadband Subscriber Lead In Q3 (Investor's Business
Daily)

FCC Barred From Disclosing TV Contracts in Comcast Review (Bloomberg)


A double-Logo SAP ? (Pixelbase)
SAP employees unhappy with new SAP logo so the old one is brought back; CEO Bill McDermott wants employees to focus on
running the actual business.


Links 11/21/2014: Fab may be sold off for $!5-25 million; Aereo files for bankruptcy: AirClic acquired






 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email


Former Rising Star Fab May Sell to PCH at a Steep Discount (Wall Street Journal: Digits)
Fab was valued at about $1 billion after one of its financing rounds, but now may sell for as little as $15 to $25 million, according to reports. First Round Capital was an early investor, though I doubt its exposure is significant. (I mean cash exposure; I don't know when they recognize book gains.)

Aereo, a live-stream TV startup, files for bankruptcy (Fortune)
Another startup that FRC invested in, though again probably with limited exposure. Barry Diller's IAC Corp made the biggest bet. I still would imagine that the technology is going to be worth something to somebody.

The Next Chapter (Aereo Blog)


Aereo CEO: Court Made Incredibly Wrong Decision, Cord-Cutting Is Inevitable (TechCrunch)


Amazon reportedly launching free, ad-supported video streaming service (Engadget)

Comcast SportsNet launches marketing campaign over possible Dish Network blackout (Washington Post)

Descartes Buys Transportation Tech Provider Airclic (Trevose) for $29.7 Million (Transport Topics)
AirClic reportedly recieved investments of $300 million or more going back to 2000.
This is the original press release from 2000 announcing the joint venture investment plans for AirClic. Its not known how much was eventually invested.

CMU to split $750K with two partners (including Drexel) to form PA Interactive Media Consortium (Pittsburgh Business Times)


Is SAP any clearer on its SME strategy?
(Diginomica)

Salesforce brings Social Studio deeper into its Cloud family (VentureBeat)



AWS is playing chicken with pricing, and enterprise incumbents will lose (Tech Republic)

HP boss Meg Whitman shuffles exec pawns just before biz splits (The Register)



Links 11/20/2014: Salesforce off a bit on lower-than-expected guidance; Concur shareholders approve $8.3 billion SAP deal





 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email



Netflix Still Dominates Streaming, but Amazon Is Picking Up Steam (Re/code)

Comcast says it’ll stop wasting your time, offers technician tracking tool (Ars Technica)


Wall Street cool on Salesforce.com numbers despite 29% YoY growth (Diginomica)

Salesforce’s Benioff: The Wave analytics cloud’s market potential is ‘far beyond’ $1B (VentureBeat)

NGO Connect and the New Nonprofit Technology Revolution (Salesforce Foundation)
Explains Salesforce Foundation's investment in Villanova-based RoundCorner and NGO Connect.

Concur Beats Its Financial Expectations For Its 2014 Fiscal Year (Business Travel News)
Meanwhile, Concur shareholders approve $8.3 billion acquisition by SAP.

SAP talks up Hana but small companies slow to sign on (PC World)



Uber’s Massive Fundraising Campaign Forges Ahead Amid Controversy (Wall Street Journal: Digits)

Amazon to Lease Entire Manhattan Building, Hinting at Retail Ambitions (WSJ: Digits)


Unisys Selected to Provide Cloud Infrastructure Solutions to Help Consumer Financial Protection Bureau Protect U.S. Citizens from Financial Crime
(PR Newswire)

Comcast Takes Ethernet Everywhere (Light Reading)

Web Video Channel Guide PlutoTV Raises $13 Million (Re/code)


QVC's Digital Transition (NBC News Video/Interview with CEO David George)