HP Names Former SAP CEO Léo Apotheker As Their New CEO And President (TechCrunch)
Surprise! HP names Leo Apotheker CEO; Can he rewrite his legacy? (ZDNet Blogs)
at 4:56 PM
Edison Venture Fund of Lawrenceville, NJ, announced yesterday that they have sold their stake in CambridgeSoft, a Cambridge, Massachusetts-based provider of software for the life sciences industry, back to the company. Edison says it received $40 million on a $5 million investment; 11x its initial investment and 3x a follow-on investment in CambridgeSoft. The Wall Street Journal's Venture Capital Dispatch dicusses Edison's exit strategy.
at 3:09 PM
Plosser Opposes More Fed Bond Buying, Sees Small Deflation Risk (Bloomberg)
Course-Management Software Deal Marks a First for SunGard (Chronicle of Higher Education)
has a story on the difficulties SAP has faced in getting Business byDesign off the ground (subscription required).
Meet Steve Burke: NBCU's Prudent Risk-Taker, Zucker Antidote (The Wrap)
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Philip Emond Named as CIGNA’s Chief Information Officer (Business Wire)
at 11:36 AM
Official: Jeff Zucker leaving NBC Universal
myYearbook of New Hope is the only company from the Philadelphia area (though some think of New Hope as a distant New York suburb) that I see on Silicon Alley Insider's Digital 100: The World's Most Valuable Startups. myYearbook is ranked 68th with estimated market value of $185 miliion, which may seem a little high, but perhaps not with some people talking about Facebook being worth $25 to $30 bilion. myYearbook's backers include First Round Capital and Northwest Venture Partners.
QlikTech Launches Aggressive Global Recruitment Initiative (Business Wire via MarketWatch)
“Ask A VC” Guest Swap: Kopelman Out; Hirshland In (TechCrunch)
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QlikTech Succeeds By Keeping It Simple (TheStreet)
Exclusive: Comcast Reshuffles Its Digital Deck Before NBC Comes Aboard (All Things Digital: MediaMemo)
I wrote about First Round Capital's investment in a startup called AdCopy, which was seeking to monetize CAPTCHAs (those letters you type in on many websites to verify you are not a bot) as an advertising vehicle. AdCopy had offices in New York and Philly, according to its website. There hasn't been much news about them since then.
at 12:24 PM
I.B.M. to Buy Analytics Firm for $1.7 Billion (New York Times: DealBook)
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an indepth article on the psychology of entrepreneurs, focused on SCVNGR founder Seth Priebatsch. SCVNGR started as a project at Princeton, went through Philly's DreamIt Ventures incubator in 20008, before being backed by Highland Capital Partners and eventually, Google Ventures. The company is now based in Cambridge.
at 9:27 AM
Comcast hires Dobrow from T-Mobile (PR Week)
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Information Week 500 is out, and although it often tends to read pretty much the same from year to year, one interesting move is that the Vanguard Group of Malvern, the giant mutual fund, now has the top ranking (though it has been highly ranked in previous years). See detailed profile here. I'll do a rundown of the other area companies included soon.
NBC's fall guys
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Angelakis: Big Opportunities in Commercial
New auction set for Philadelphia newspapers (Philadelphia Inquirer)
SCVNGR Launches Rewards in Philadelphia (Marketwire)
Post-Saridakis, pointed questions about PointRoll (Gannett Blog)
Jaffe leaves Ballard Spahr for Duane Morris (Philadelphia Business Journal)
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QlikTech opens Hong Kong office (Computerworld Hong Kong)
SAP Rules Out Hardware Company Acquisitions, Co-CEO McDermott Tells CNBC (Bloomberg)
Network for conservative entertainment launches (AP via Google News)
Resurrecting Mark Hurd: Larry Ellison's War With IBM (Information Week: Global CIO)
a tweet by SAP CIO Oliver Bussmann, who
at 4:40 PM
Comcast-Spectacor taps Comcast Cable for new CFO (Philadelphia Business Journal)
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Cross Atlantic Capital Partners has been a relatively quiet venture capital firm compared to some others located in the Philadelphia area. But the Radnor-based firm (also known for short as XACP), with more than $500 million in assets under management, has had its share of major success stories.
at 12:00 PM
SAP Sees `Limitless' Potential in `Second Home' China (Bloomberg)
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SCVNGR, the Cambridge, Massachusets-based startup that originated as a project at Princeton and went through the first DreamIt Ventures program in 2008, will launch its SCVNGR Rewards program for Philadelphia on September 14 at Social Media Day Philadelphia, according to the event's website.
at 1:46 PM
GSI to shed sporting goods inventory in a deal with Sports Authority
Kenexa To Acquire Salary.com In $80 Million Deal (TechCrunch)
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