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| | The May Report: 7/30/2010: Part TWO of three tonight: McCall and New World sell out on Playdom; No more excuses, no more self-pity, no more long naps -- the real problem is the space between my ears, not the lesion in my liver, capisce?; Bland claims to be getting some traction
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| | July 30, 2010
The May Report: 7/30/2010: Part TWO of three tonight: McCall and New World sell out on Playdom; No more excuses, no more self-pity, no more long naps -- the real problem is the space between my ears, not the lesion in my liver, capisce?; Bland claims to be getting some traction
Editor and publisher: ron@themayreport.com, ronaldmay@aol.com, www.themayreport.com , 773-525-3944.
If you missed an article, go here: http://www.tmronline.com/A55951/tmrarticles.nsf/vwFullNewsletter
[Editor's note: May here. This is part two of three tonight. My pride and ego will not permit me to end July 2010 with a whimper and not a bang. There was a typo in the header of Part One. It is Playdom, not Plsydom.
http://games.venturebeat.com/2010/07/27/disney-buys-social-game-firm-playdom-for-up-to-763-2m/
I am giving you the entire Table of Contents for parts one and two, but the actual send is being split into three sections with the last one being Briefly noted.]
______________________________________
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GP Ventures specializes in M&A advisory services for technology companies in a wide range of sectors.
Some current projects include:
*Acquisition Program for publicly-traded IT Consulting firm, seeking firms in the Data Center, Managed Services, and IT Consulting (SAP, Oracle, etc.) sectors ($10 million to $100 million revenues)
*Acquisition Program for US PC Board Manufacturer seeking US PCB shops ($1 million to $30 million revenues)
*Sell Side Program for 40 million Euro Fiber Optics Company (based in Europe, now preparing materials)
Please contact GP Ventures to discuss sell-side projects, acquisition programs, and "grooming" consulting projects.
Best regards,
Tom Kastner
GP Ventures
847-431-3993
M&A Advisory Services for technology companies in EMS, PCB, Software, Defense, IT Services, Electronics, Distribution
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__________________________________
TABLE OF CONTENTS
The Scoop section:
-- Envestnet Inc., a Chicago-based provider of online investment solutions and
services to financial advisors, raised around $63 million in its IPO
-- SocialDevCamp Chicago Aug.14-15
-- An event Ron missed but wishes he had not: Thursday, July 29: Uncle Fatty's hosts SMC Chicago's Summer Social
-- Sad News at Locke Lord
-- Another event Ron wishes he had known about and attended at the Knapp Center July 29th
-- Lyn Williams on mysoiree.net, a kind of star search for budding artists
-- Melanie Adcock on mobile apps and some big local initiatives
-- Michael Quintos on social media using an Adobe case study
-- Paul Sand: Chicago InfraGard Programs and Seminars
-- Sandra Susino: Looking for work with degrees from Stanford, Harvard and Princeton
-- Darrell Dvorak: Krugman's veracity, cont'd
-- Mark your calendars for September 28: VenturesLAUNCH to Bring the Country's Hottest Startups to Chicago
-- Jason Rexilius: BARcamp Chicago 2010 - Aug 21-22
END OF PART ONE
++++++++++++++++++++++++++++
START OF PART TWO
-- John Katsantonis: Various "Johns" and "Jerries"
-- New Technology to Help 1st Ward in City of Chicago Residents
-- Tuesday, August 3: BNC Capital Group and in their promo material there seems to be some progress in funding deals
-- Len Bland's summary of the three firms that presented at the July 6th meeting
-- Miscellaneous (5 notes)
-- Another regular annual event Ron wishes he had attended put on by TBIF
-- Is Data Breach Litigation a Continuing Threat?
-- Chicago Growth Partners
-- Yet another event Ron wishes he had been able to attend: BNC Entrepreneur 2010 Summer Social with Howard Tullman
-- Washington, DC, and Chicago, IL - June 23, 2010 - 3Sixty Holdings, LLC, a technology-focused holding company formed by several private equity investors, today announced it has acquired AIS Network Corporation
-- Cards Ron collected at Social Media Club Chicago on 6/24/2010
-- Cards Ron collected a Ignite Chicago on 6/9/2010
-- Cards Ron collected at TBIF (The Big Idea Forum) on 6/21/2010
_______________________________________
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******************************************
The Scoop section:
_____________________
John Katsantonis: Various "Johns" and "Jerries"
From: "John P. Katsantonis" jpkattt@att.net
Subject: Various "Johns" and "Jerries"
Date: Tue, 27 Jul 2010 20:53:05 -0500
To: The May Report <ron@themayreport.com>
God, how I enjoy anonymous folks who claim to know me personally, shred me and one of the few people in this town who knows which end is up, then don't have the courage to have their name or contact info published. Much less spell "judgement" (sic) correctly!!
Now THERE is a credible source!
QUIZ:
1) Find where anyone (including myself) called me an "expert."
2) I came back to Chicago in January of 1999. That would be 11 years ago, Anonymous Boy. Not exactly a "recently returned ex-pat." I saw the whole thing, up-close. And predicted it would happen. More than twice. And why, and how.
3) If you'd been reading TMR or its late, lamented competitor ePrairie/MidwestBusiness.com, you'd know that none of these observations are new, revolutionary, or inaccurate. So once again, an "F" for reading comprehension.
4) I've personally been fortunate enough to have been instrumental in the launch of 30-some startups, in all tech sectors (including Dell, ACT! and other, somewhat less-household-y names), across North America. Some have worked, some have not. My practice began in 1988, which means I've outlasted most of the tech companies out there. Pretty weird, huh?
5) Since I don't promote myself at all, as any of the things you said, maybe one of us doesn't know what a "poseur" is...and, technically, since I do not seek to impress anyone, but merely report the truth ---- and in this case, respond to Ron's call for opinions ---- perhaps Anonymous Boy was referring to himself.
later~jk
Definitions of Poseurs on the Web:
* Poseur is a pejorative term, often used in the punk, heavy metal, hip hop and goth subcultures to describe a person who adopts the dress, speech, and/or mannerisms of a group or subculture, generally for attaining acceptability within the group, yet who is deemed to not share or understand the ...
en.wikipedia.org/wiki/Poseurs
* poseur - a person who habitually pretends to be something he is not
wordnetweb.princeton.edu/perl/webwn
* poseur - One who affects some behaviour, style, attitude or other condition, often to impress or influence others
en.wiktionary.org/wiki/poseur
____________________________________
New Technology to Help 1st Ward in City of Chicago Residents
From: Kara Silverman kasilverman@gmail.com
Subject: New Technology to Help 1st Ward in City of Chicago Residents
Date: Wed, 28 Jul 2010 11:45:50 -0400
Hi -- Please find a press release below on the new mobile text messaging technology that will help the residents of Chicago's 1st ward to get better, real time information on parking and street sweeping. Please contact me for more information or to speak with the developers.
Thanks! Kara
For Immediate Release:
Contact: Kara Silverman kara@recessmobile.com 216-870-6073
FIRST FREE STREET SWEEPING TEXT REMINDERS TO LAUNCH IN CHICAGO?S 1ST WARD
AntiTow, created by Recess Mobile, is the SMS System Launched by Alderman Moreno
Chicago, IL/Columbus, OH ? July 27, 2010 ? AntiTow, a street sweeping alert system created by Recess Mobile, is proud to announce that it will be the first text message notification system for street sweeping in Chicago that is free to residents. AntiTow is being implemented in Chicago?s 1st ward through Alderman Joe Moreno. The service will be free to 1st ward residents.
?This text notification system will have two positive effects for the 1st ward residents,? Said Alderman Joe Moreno. He continued, ?The number of tickets issued should be significantly reduced and our streets will be more thoroughly cleaned. It is this kind of innovative technology and that makes the lives of residents easier.?
Recess Mobile, a Columbus, OH based SMS application development company, created AntiTow to solve the same frustration for residents of the City of Columbus. Created in 2009, subscribers to the service are alerted to move their cars the night before and morning of a scheduled street sweeping.
?We are proud that AntiTow will be able to help the City of Chicago better serve its residents,? said Vitaliy Levit, co-founder of Recess Mobile and AntiTow. ?We hated getting costly parking tickets and hope that this system will help Chicago?s resident avoid them. It?s our goal to give the whole city access to these alerts!?
For more information on AntiTow, or to sign up for alerts please visit the website: http://antitow.com.
###
About Recess Mobile: Established in 2009, Recess Mobile is known for text messaging solutions that make doing business more cost-effective and convenient. Recess Mobile designs and develops innovative SMS and cross-platform mobile applications.
About Alderman Joe Moreno: Proco Joe Moreno was inaugurated as the Alderman of Chicago?s 1st Ward on March 26, 2010. Joe is a strong and independent advocate for the people of the 1st Ward in the Chicago City Council. As the youngest serving Alderman, he focuses on constituent services, public safety and building the 1st Ward business community.
--
Kara A. Silverman
216-870-6073
kasilverman@gmail.com
http://karasilverman.posterous.com
@karasilverman
______________________________________
Tuesday, August 3: BNC Capital Group and in their promo material there seems to be some progress in funding deals
Subject: BNC VC Group 8/3 5:00 PM at LLB&L. Presenters: I-Guide Robotics, Luxe Life, The Music Producer
Date: 7/30/2010 4:55:48 P.M. Central Daylight Time
From: len_bland@conceptequity.com
To: ronaldmay@aol.com
Click here to see web version of this notice http://conceptequity.com/BNCVCGroup.htm
You are receiving this email from Concept Equity Group, Inc. because you have expressed an interest in attending these events. If you haven't done so already, click to confirm your interest in receiving email campaigns from us. You can now sign up to be a presentation coach as well. Simply view your subscription options.
BNC Venture Capital Group
Sign up here: 123 Signup http://tinyurl.com/bncvc0803
Tuesday 8/3/2010, 5:00 PM - 8:00 PM 111 S. Wacker Drive, 41st Floor
Please do not arrive before 5:00 PM. Picture by K Sanderson Photographic Art
Locke Lord Bissell & Liddell, LLP is a national law firm with extensive experience representing emerging growth businesses and venture capital funds through formation, initial financing, protection of intellectual property, and other legal and regulatory hurdles that face such businesses.
When the time comes, Locke Lord has the necessary practical experience to advise entrepreneurs and investors regarding initial public offerings, mergers, acquisitions and divestitures.
Locke Lord attorneys assist emerging growth businesses with choosing the proper entity and initial financing arrangements, as well as other possible legal issues and regulatory hurdles that growing businesses face. We advise venture capital firms and private equity funds concerning their formation and operation, including initial investments in small and start-up businesses.
Entrepreneurs, send your executive summary to len_bland@conceptequity.com to be considered to present at the BNC Venture Capital Group.
Join the BNC VC Group on LinkedIn
News and Articles
Business method patents preserved for software entrepreneurs.
Illinois Passes Angel Tax Credit
Concept Equity Blog: What goes into the PPM? How to generate a Term Sheet?
Witness the MIT EF Whiteboard Challenge Finals, May 26
Inc: An Insider's Guide to Venture Capital Financing
Concept Equity Blog: Finance bill could hurt angel investing
When should entrepreneurs use an NDA?
Gain payroll tax savings when hiring.
Inc Magazine: How to Read a Term Sheet Looking for venture capital? Here's what you need to know about liquidation preferences and preferred stock.
Why You Should Start a Company in Chicago
Entrepreneurs have trouble crafting a simple, emotional message because they suffer from the curse of knowledge.
Audio Sample from Made to Stick
Assistive Medical Equipment receives investment as a result of their December BNC VC Group presentation.
Perfecting Your Pitch - what goes into a good investor presentation?
Forward Momentum sales up over 700% in 2009. January sales are 10x last year.
2009 Results - Two companies receive funding from the BNC VC Group meeting. 25% of presenters are successful in gaining funding from some source.
How does the investor make money? Modeling the answer to one of our four questions.
Don Dodge on The Next Big Thing: Why VCs say no 99% of timeStories connect to emotions, where decisions are made
Angels take an average of 67 days to close a deal.
Why It's So Difficult to Find Angel Capital
Len Bland Funding Interview on SmallBiz America
Startup Valuation: Top Ten Techniques
Tips for Sizing a Credible Funding Request
You're the Boss: Protecting the Patent System for Entrepreneurs
Investor Presentation - 10 Slides is Just Right
Must see from 2006, Guy Kawasaki's The Art of the Start presentation
Setting your company's valuation
Why Business Plans Don't Deliver - The five most common flaws-and how to fix them
Study Disputes The Value of VCs "Buying Local"
In Pitching to Angel Investors, Preparation Tops Zeal
Top Ten Lies of Startups
I Love Executive Summaries
The BNC Venture Capital Group introduces exciting investment opportunities to professional investors (angels, early stage venture capitalists, and private equity firms seeking add-ons) and fosters the growth of entrepreneurial activity.
Len Bland, CEO of Concept Equity, and David Carman, CEO of Business Network Chicago, lead the BNC Venture Capital Group.
We will review three entrepreneurial opportunities. Each presentation lasts 10 minutes, followed by a 15 minute Q&A.
Effective presentations answer 4 questions:
·What is the product or service?
-Why will customers buy it?
·Why is this management team the best one to run the business?
·How will the investor make money?
5:00 PM - Networking
5:30 PM - Introductions
5:45 PM - I-Guide Robotics
6:15 PM - Luxe Life
6:45 PM - Break
7:00 PM - The Music Producer
7:30 PM - Results
The I-Guide Robotics system http://www.i-guiderobotics.com/ is an on-board computer that automates the commercial mowing process. By the end of 2010, the i-Guide Robotics system will be integrated into the standard manufacturing process of two commercial models produced by the rapidly growing Bad Boy Mower Company with 310 dealers in 35 states.
Luxe Life http://shopluxelife.com/about-us/ offers turnkey online consignment sale services for luxury and collectible goods to Individuals and Businesses.
The Music Producer2.0 (TMP) http://www.themusicproducer.com/ is a music creation software application enabling ANYBODY to write and produce their own music and ring tones from their home PCs. With virtually no marketing, individual customers from 50 different countries have already purchased the software from the website.
Locke Lord Bissell & Liddell
111 South Wacker Drive, 41st Floor
Chicago, Illinois 60606
Sign up at 123Signup - Event cost $25
Evening Meeting includes food and beverages
Call Len Bland at 847-317-0656 or write len_bland@conceptequity.com with questions or if you have any difficulty registering. Other investors welcome.
If you have a scheduling conflict, please join us for the next meeting set for 8/3/2010.
DISCLAIMER: ....
Previous Presenters
Click Here for Information on Previous Presenters.
For More Information Contact:
Len Bland, Concept Equity Group, Inc.
Follow Len Bland and Concept Equity on twitter @conceptlen
See Len Bland's latest blog
Need funding to grow your business?
Looking for meaningful, exciting investments?
Concept Equity Group helps close the funding gap between entrepreneurs and investors.
We prepare entrepreneurs by:
Introducing vendors, customers, talent, and investors
Preparing investor communications
Providing strategic insight
We engage investors by:
Learning their creativity and passion
Leveraging their experience
Qualifying entrepreneurs
We match successful business people with entrepreneurs. Contact len_bland@conceptequity.com if you would like to be included in a list of recommended business people.
More about our services
__________________________________________
Len Bland's summary of the three firms that presented at the July 6th meeting
From: Len Bland [mailto:len_bland@conceptequity.com]
Sent: Wednesday, July 14, 2010 2:01 PM
To: ronaldmay@aol.com
Cc: 'David Carman'
Subject: 7/6 BNC VC Group presentation.
Ron,
All three companies had very promising product ideas. Each of the
presentations could have been better with coaching. They each received
votes and came through in the following order:
Advertising
Technology
Lygase http://www.lygase.com/Default.aspx has developed an RFID-enabled
event management platform that can automate lead capture, facilitate
targeted marketing and enhance advertisement throughout a live event while
providing participants with timely and valuable information. The technology
saves time and money, delivers actionable data to a broad set of users, and
improves the experience for both the vendor and attendee.
$400K
Education
Technology
Learning Enhancement Corporation
http://www.learningenhancement.com/Article.aspx develops and markets tools
that expand the mind's capacity to learn by combining the latest brain
science with entertaining and motivating video-game technology. Currently,
over 200 school districts, 400 individual schools, 300 health care clinics,
and 150 tutoring centers use Brainware Safari. The company just turned
profitable.
$1MM
Sports Gaming
Live Fantasy Sports Tournaments provides millions of sports fans, traders
and gamblers with the opportunity to play an interactive game of skill
throughout any sporting event and potentially win fabulous cash
prizes. Currently, there is no product on the market that permits live
competition during a sporting contest with the opportunity to win cash. In
addition, sports betting is illegal in every state except Nevada.
$500K
We were happy to have about 45 people given the proximity to July 4 weekend.
The Next BNC Venture Capital Group Meeting is on 8/3
http://conceptequity.com/BNCVCGroup.htm.
Regards,
Len Bland, CPA
CEO
www.conceptequity.com
Office/Cell: 847-317-0656
Fax: 847-919-4396
Join BNC Venture Capital Group notification list
Current investment opportunities
Concept Equity Blog
From: ronaldmay@aol.com [mailto:ronaldmay@aol.com]
Sent: Wednesday, July 14, 2010 4:10 AM
To: len_bland@conceptequity.com
Subject: Len, what was the vote for each firm at the 7/6 meeting if you have
it and I'm still in the hospital. Also, attendance?
__________________________________________
Miscellaneous (5 notes)
________________________
#1: From: "Charles Stack, MPH" <cstack@2ci.com>
Sender: "Charles Stack, MPH" <cstack@2ci.com>
Subject: Hi Ron! Nice report, thanks!
Date: Mon, 26 Jul 2010 17:22:58 -0500
To: "ron@themayreport.com" <ron@themayreport.com>
Hey, man, I thought you were going to retire? 8-) Uh, yeah, right!
Thanks for the connection on LinkedIn, does MayReport have a Facebook page yet? Those seem inevitable!
A FB page might be a valuable tool for Chicago tech networking, but the abuse potential might also be high....a LinkedIn group might also be popular.
Just thinking, FB is a decent format, despite the shenanigans & nonsense!
C U in Cyberspace, hope you continue to feel well, Chuck
Charles R. Stack, MPH
Vice President
Constant Compliance Inc.
140 South Dearborn Street
Suite 411
Chicago, Illinois 60603 USA
Cell phone (630) 841-8706
Fax (312) 782-0936
Website: http://www.2Ci.com/
On 7/26/10 1:47 PM, "The May Report" <ron@themayreport.com> wrote:
__________________________________
#2: From: "rbeston" rbeston@rainmakerfg.com
Subject: RE: The May Report: 7/26/2010: Is Flip back -- better yet, did he ever really leave?; So, why is Chicago tech over and other musings.
Date: Mon, 26 Jul 2010 15:48:00 -0500
To: "'The May Report'" ron@themayreport.com
LL,
Please schroll down to the part highlighted in yellow (in case you want to either attend the event, or somehow figure a way to reach these people so they are aware of Polk).
Respectfully,
Rick
Rick Beston, CEO
RainMaker Financial Group, Inc.
____________________________________
#3: From: Gerald Murphy <geraldlmurphy@att.net>
Subject: Fw: The May Report
Date: Fri, 23 Jul 2010 19:23:47 -0700 (PDT)
To: The May Report <ron@themayreport.com>
Cc: geraldlmurphy@att.net
----- Forwarded Message ----
From: "geraldlmurphy@att.net" <geraldlmurphy@att.net>
To: The May Report <ron@themayreport.com>; gmurph@xnet.com
Cc: cookbusiness@att.net
Sent: Fri, July 23, 2010 9:16:42 PM
Subject: Re: The May Report
Hi Ron:
In recent weeks, I have missed receiving and reading The May Report and would much appreciate receiving it again on a regular basis.
There could have been an instance where I made a wholesale deletion of inbox items that included one of your letters. I did not knowingly elect to stop receiving any of your letters.
Otherwise, I hope all is well and that you feel disposed to continue your letter for many years. I remember fine writings of yours that date back prior to the milennnium!
Gerald L. Murphy
708-531-1117
P.S. Please feel free to send future mailings to cookbusiness@att.net. (both receive messages).
____________________________________
#4: From: Thomas Hinkamp <thomasjhinkamp@yahoo.com>
Subject: Re: The May Report: 7/27/2010: A reader responds to May and Katt with the suggestion that we have too many Johns and Jerries; Tell 'em 'Ron May sent me' and there is no charge for the July 27 (tonight) art outreach event....
Date: Tue, 27 Jul 2010 17:38:51 -0700 (PDT)
To: The May Report <ron@themayreport.com>
Thomas J. Hinkamp, M.D.
Cardiac Surgery Associates, S.C.
(630) 324-7900, Office
(847) 833-6428, Cell
(847) 479-0155, Pager
www.openheart.net
ThomasJHinkamp@yahoo.com
_________________________________________
#5: From: "Zenah Khawaja" zkhawaja@semiautomatic3d.com
Subject: health well wishes/help
Date: Wed, 28 Jul 2010 15:46:43 -0400
To: ron@themayreport.com
Hi,
Hope you are feeling as well as possible these days and things are
improving for you health wise.
Feel free to drop a line in case I can be of help in regards to your
circumstances.
Best regards,
Zenah
Zenah Khawaja, CTO
Semiautomatic Semiotics, LLC
__________________________________________
Another regular annual event Ron wishes he had attended put on by TBIF
From: "Jed Abernethy" jedabernethy@comcast.net
Subject: The Big Idea Forum Summer Social - Monday July 23rd at O'briens on the River
Date: Wed, 21 Jul 2010 08:05:56 -0500
To: ron@themayreport.com
Ron,
We are having our summer social on Monday on the river. Anyone interested in discussing the Cub's latest surge, speculation about what happened to the puck that won the Stanley cup (it's missing) or entrepreneurial topics like incubators, funding, and other entrepreneurial issues - please come down and join us by the river:
The Big Idea Forum's Annual
Summer Social Event
Monday, July 26, 2010
5:30pm - 8:30pm
O'Brien's Riverwalk Cafe*
45 E. Riverwalk South, Chicago
(Promenade level of the Chicago River at Wabash and Wacker Streets)
Please RSVP to rsvp@thebigideaforum.org by July 23.
$10.00 (includes appetizers and cash bar)
(*since this is an outside venue, if it is raining, then the alternate location is Emerald Loop Bar and Grill at 216 N. Wabash)
Enjoy the summer breeze on the river with some of Chicago's most dedicated entrepreneurs.
Entrepreneurs helping Entrepreneurs:
The Big Idea Forum is a Chicago-based group of entrepreneurs who gather regularly for the purpose of sharing knowledge to assist peers in developing and promoting business ideas.
Thanks,
Jed Abernethy
President - The Big Idea Forum
www.thebigideaforum.org
______________________________________
Is Data Breach Litigation a Continuing Threat?
Is Data Breach Litigation a Continuing Threat?
On June 25, 2010, a federal court in New York granted summary judgment
dismissing consumer class action claims against Bank of New York arising
from the loss of unencrypted computer back-up tapes. Hammond v. The Bank of
New York Mellon Corp., Case No. 1:08-CV-06060 (S.D.N.Y. June 25, 2010); 2010
WL 2643307 (BNY Litigation).
The court held, among other things, that alleged increased risk of identity
theft constituted neither sufficient injury to confer Article III standing
to sue nor, alternatively, legally compensable injury under any of the
causes of action asserted by plaintiffs, which included negligence, breach
of implied contract, breach of fiduciary duty, negligence per se, and
purported violations of state consumer protection statutes. This decision is
consistent with decisions of many other courts that have dismissed data
breach-claims for lack of standing or compensable injury.
Although the weight of authority currently is against plaintiffs seeking to
recover damages in data breach class actions, plaintiffs continue to bring
these actions and assert new legal theories and variations of previously
rejected theories based upon allegedly different facts. Many defendants have
decided to settle these claims to avoid the cost and risk of continued
litigation.
We expect plaintiffs will attempt to distinguish the BNY Litigation decision
and other adverse precedents on their facts. Plaintiffs have argued, and
likely will continue to argue, that increased risk of identity theft should
be treated like increased risk of future medical injury, for which recovery
is sometimes allowed depending upon the nature of the medical risk. Although
courts have rejected this analogy so far, a few courts have left open the
possibility that under a different set of facts, the increased risk of
identity theft might be sufficient to support recovery.
Plaintiffs also have argued that they should be entitled to nominal damages
for breach of contract, which, in a class action, could result in a
significant money judgment. The court in the BNY Litigation did not resolve
this issue. Instead, it dismissed the claim because plaintiffs never pled
nominal damages. In addition, plaintiffs have sought injunctive relief to
compel defendants to improve data security systems or stop representing that
their data security systems are adequate. To date, courts have rejected
these claims on the same grounds that they have rejected damage claims, ie.,
lack of standing or failure to establish an imminent threat of a legally
recognized injury. Again, it is likely that plaintiffs will attempt to
distinguish these cases.
It also should be noted that federal and state regulators have authority to
seek injunctive relief to compel companies to implement reasonable data
security safeguards and to seek penalties under various consumer protection
statutes. In fact, the Federal Trade Commission (FTC) has filed more than 25
cases challenging allegedly faulty data security practices by companies that
handle sensitive consumer information. These cases generally allege either a
violation of the FTC's safeguarding rule promulgated pursuant to Title V of
the Gramm-Leach-Bliley Act or Section 5 of the Federal Trade Commission Act,
which prohibits unfair acts or practices.
Therefore, although courts so far have refused to open the floodgates to
private class action litigation in data breach cases, compelling business
and legal reasons remain for companies to comply with state, federal and
international data security laws, to take swift and appropriate remedial
action if a data breach occurs and to give prompt notice of the breach to
affected parties in the manner required by applicable state and federal
laws. With 46 states and the District of Columbia having enacted data breach
laws, compliance with the varying notice requirements is often challenging
and cumbersome. Therefore, companies must have policies and procedures in
order to quickly respond to a data breach involving sensitive employee or
customer information. Also, the first few days after a company learns of a
data breach are a critical time for remedying the breach and, as a result,
may become a principal focus of discovery if litigation ensues. Therefore,
it is important both to take effective action and to appropriately document
the action taken during this important time.
For more information about the topics addressed in this Legal Update, please
contact Robert J. Kriss at +1 312 701 7165, Jeffery P. Taft at +1 202 263
3293 or Charles E. Harris, II at +1 312 701 8934.
Learn more about our Privacy & Security and Business & Technology Sourcing
practices.
Visit us at mayerbrown.com
__________________________________________
Chicago Growth Partners
Chicago Growth Partners
http://www.cgp.com/news/pdf/PR_20100209_FPRS.pdf
Zogenix Inc., a San Diego-based drug company focused on pain management and
CNS disorders, has raised $15 million in Series C funding. Return backers
include Clarus Ventures, Domain Associates, Scale Venture Partners, Thomas,
McNerney & Partners, Abingworth Management and Chicago Growth Partners.
The company previously had raised $71 million, and today also announced that
it has secured a $35 million debt facility from Oxford Finance Corp. and
Silicon Valley Bank.
PRESS RELEASE
Zogenix, Inc. ("Zogenix"), a privately held pharmaceutical company,
announced that it has secured a $35 million debt facility led by Oxford
Finance Corporation which also included Silicon Valley Bank. The facility
consists of a $25 million term loan and a $10 million revolving line of
credit. Concurrently, all existing Zogenix investors, including Clarus
Ventures, Domain Associates, Scale Venture Partners, Thomas, McNerney &
Partners, Abingworth Management, and Chicago Growth Partners, have provided
an additional $15 million investment.
The financing will be used to satisfy working capital needs in the
commercial launch of SUMAVELT DoseProT (sumatriptan injection) needle-free
delivery system, the company's first FDA-approved product, and the ongoing
Phase 3 clinical development program of ZX002, a novel oral
controlled-release formulation of hydrocodone without acetaminophen for the
treatment of chronic pain. Proceeds will also be used to fully repay the
outstanding balance of an existing term loan.
"This funding enhances our financial strength as we continue to focus on the
successful launch of our first product, SUMAVEL DosePro," said Ann Rhoads,
chief financial officer at Zogenix. "The additional support from our
investors represents their commitment to the growth of our company and the
development of our pipeline."
"Oxford is pleased to participate in the financing package Zogenix has
secured to further the growth of its company," said Chris Herr, managing
director of Oxford Finance Corporation. "Zogenix has a strong management
team that is leading their FDA-approved product to commercial success."
"The financing we are providing Zogenix will offer the flexibility the
company needs to continue to meet its strategic objectives," said Michael
White, senior relationship manager, Life Sciences, from Silicon Valley Bank
in San Diego. "We are pleased to help Zogenix and many other life science
companies in the San Diego market meet their goals."
About Zogenix
Zogenix, Inc., with offices in Emeryville and San Diego, Calif., is a
privately held pharmaceutical company focused on the development and
commercialization of medicines to treat neuroscience disorders and pain. The
company is commercially focused on SUMAVELT DoseProT (sumatriptan injection)
needle-free delivery system, which launched in January 2010, for the acute
treatment of migraine and cluster headache. The company's pipeline includes
ZX002, a novel oral controlled-release formulation of hydrocodone without
acetaminophen for the treatment of chronic pain, which entered Phase 3
clinical trials in March 2010. Zogenix also plans to license the patented
DosePro needle-free drug delivery system to other companies. For additional
information, please visit www.zogenix.com.
About Oxford Finance Corporation
A subsidiary of Sumitomo Corporation, Oxford is a specialty finance firm
providing senior secured loans to public and private life science and
healthcare services companies worldwide. For over 20 years, Oxford has
delivered flexible financing solutions to its clients, enabling these
companies to maximize their equity by leveraging their assets. In recent
years, Oxford has originated over $1.5 billion in loans, with lines of
credit ranging from $500 thousand to $40 million. Oxford is headquartered in
Alexandria, Virginia, with additional offices in California and
Massachusetts. For more information visit www.oxfordfinance.com.
About Silicon Valley Bank
Silicon Valley Bank (SVB) is the premier commercial bank for companies in
the technology, life science, venture capital, private equity and premium
wine industries. SVB provides a comprehensive suite of financing solutions,
treasury management, corporate investment and international banking services
to its clients worldwide. Through its focus on specialized markets and
extensive knowledge of the people and business issues driving them, Silicon
Valley Bank provides a level of service and partnership that measurably
impacts its clients' success. Founded in 1983 and headquartered in Santa
Clara, Calif., the company serves clients around the world through 26 US
offices and international operations in China, India, Israel and the United
Kingdom. Silicon Valley Bank is a member of global financial services firm
SVB Financial Group (Nasdaq: SIVB) and a member of the FDIC and the Federal
Reserve System. More information on the company can be found at www.svb.com.
Zogenix Inc., a San Diego-based drug company focused on pain management and
CNS disorders, has raised $15 million in Series C funding. Return backers
include Clarus Ventures, Domain Associates, Scale Venture Partners, Thomas,
McNerney & Partners, Abingworth Management and Chicago Growth Partners.
The company previously had raised $71 million, and today also announced that
it has secured a $35 million debt facility from Oxford Finance Corp. and
Silicon Valley Bank.
___________________________________
Yet another event Ron wishes he had been able to attend: BNC Entrepreneur 2010 Summer Social with Howard Tullman
From: "Susan Barahia (BNC Entrepreneur)" bnc.entrepreneur@gmail.com
Subject: BNC Entrepreneur 2010 Summer Social with Howard Tullman
Date: Wed, 30 Jun 2010 08:36:42 -0500
To: ron@themayreport.com
BNC Entrepreneur 2010 Summer Social with Howard Tullman
Small Business owners, solopreneurs and those wanting to start their own business: This is the one BNC Entrepreneur Event you don't want to miss!
Join us for the second annual BNC Summer Social for Entrepreneurs. Mingle with other business owners while enjoying delicious hors d'oeuvres from District Bar Chicago along with a cash bar. Our guest of honor will be the well distinguished and accomplished Chicago Entrepreneur Howard Tullman!
Howard has founded and sold a number of successful startup companies and will give a brief presentation on using technology and social media in a small business. He will discuss how new tools and technologies such as Augmented Reality, Video-in- Print, Square, Classroom Of The Future will help businesses grow and more effectively connect with their customers, vendors and employers. He will also talk about new directions and trends in the social media world with respect to competition, conversation, community and content.
Location
District Bar Chicago
170 W Ontario
From 5:30 - 8:30
$25 General: $35 Walk-In (if available)
To Register: http://bnce071410-rm.eventbrite.com
Schedule
5:30 - Registration - Cash Bar opens
7:00 - Presentation by Howard Tullman followed by Q & A
7:50 - Raffle (must be present to win)
8:30 - Event closes
--
Susan Barahia
BNC Entrepreneur Group Leader
sbarahia@bnchicago.org
312-371-3786
Join us:
July 14: BNC Entrepreneur Summer Social 2010 with Howard Tullman
http://bnce071410-sig.eventbrite.com
Linked-In: http://bit.ly/bnceli
Facebook: http://bit.ly/bncefb
_______________________________________
Washington, DC, and Chicago, IL - June 23, 2010 - 3Sixty Holdings, LLC, a technology-focused holding company formed by several private equity investors, today announced it has acquired AIS Network Corporation
From: "Laurie Head" laurie.head@aisn.net
Subject: For Ron: AIS Network Acquired (press release)
Date: Wed, 23 Jun 2010 13:39:46 -0400
To: ron@themayreport.com
Hi, Ron,
Just sent out a deal release today that you may be interested in for your newsletter. AIS Network is a Chicago-based company; the text is below. Hosting is becoming a commodity these days. Gartner Inc. is predicting that by 2012, 20% of US companies will own no IT assets. Thus, I think we will begin to see a trend toward buying/merging hosting companies.
Best regards,
Laurie Head
VP, Marketing Communications
AIS Network, LLC
FOR IMMEDIATE RELEASE
Contact: Laurie Head Donna Hemmert
AIS Network, LLC 3Sixty Holdings, LLC
301-523-3165 (mobile) 571-277-6326
laurie.head@aisn.net dhemmert@3sixtyweb.com
www.aisn.net www.3SixtyHoldings.com
3SIXTY HOLDINGS ACQUIRES HOSTING PIONEER AIS NETWORK
Washington, DC, and Chicago, IL - June 23, 2010 - 3Sixty Holdings, LLC, a technology-focused holding company formed by several private equity investors, today announced it has acquired AIS Network Corporation, a leading managed and cloud hosting provider, from founder and president Daniel Lundahl. Long-time Internet executive Kurt Baumann has been appointed chairman of the company, while financial strategist Jay Atkinson will become its chief executive.
Headquartered in Chicago, the 17-year-old AIS Network is recognized as a pioneer in managed hosting technologies. Lundahl will remain president of AIS Network's midwest operations and will retain a significant equity stake in the company. AIS Network will open a new East Coast sales office in Reston, VA, which is part of the Washington, DC, metro area.
"We are exceptionally proud of AIS Network's longevity and achievements over the years and we believe 3Sixty Holdings' relevant experience, institutional support and financial capital will expedite our plans for growth while dramatically enhancing the world class services and products that we provide," said Lundahl.
The deal, which helps AIS Network expand its infrastructure, support and cloud computing services and sales capabilities, demonstrates continuing interest in the growing managed hosting sector from private equity investors.
"Because nothing irritates us more than low-brow products and bad client service, we were looking to acquire a highly successful company that has integrity, a high-end product and a strong service culture," said Atkinson.
"AIS Network fits the bill on all these levels. Mr. Lundahl's approach to client support impressed us immediately. His team treats the customer as No. 1. Unlike so many managed hosting companies, it's not about cutting corners in a massive land grab for more customers. Everything AIS Network does for its clients has a personal touch, and our vision is to continue that level of service while promoting world-class innovation."
The dynamic team of Baumann and Atkinson adds significant breadth of experience to the AIS Network executive team. Baumann's long career in the international high tech industry includes responsibility for founding the first ISP in Japan and also InterCon Systems-the leading producer of enterprise Internet software for the Macintosh - which PSINet bought in 1995. More recently, with the founding of Kadoo (www.kadoo.com), he became an early player in cloud hosting technologies. Atkinson, a former finalist for Virginia Business "CFO of the Year," is a successful entrepreneur and financial strategist who has advised companies across various commercial sectors on growth opportunities and strategic repositioning.
Terms of the transaction were not disclosed. This is the first acquisition for 3Sixty, which was founded last year by an elite group of private equity investors. 3Sixty's strategy is to invest in North American IT infrastructure companies positioned to meet demand for managed hosting, cloud computing, co-location and disaster recovery services.
For information: www.3Sixtyholdings.com or www.aisn.net
Contact: laurie.head@aisn.net
Phone: 301-523-3165
# # #
About 3Sixty Holdings, LLC
3Sixty Holdings, LLC, was formed by Internet and technology company veterans to find well-run, profitable, customer-focused hosting and hosting-related companies for which their management expertise and experience could be leveraged. 3Sixty Holding's first acquisition, AIS Network, was targeted given its reputation, solid business practices and superior customer service. AIS Network will be the foundation for growth through further acquisition in this industry. Visit www.3Sixtyholdings.com.
About AIS Network, LLC
AIS Network frees organizations from buying and hassling with servers, so those companies can run their business more efficiently. AIS Network clients no longer maintain applications servers in their office, because we secure and care for those servers 24x7x365 in a world-class, disaster-resistant facility and ensure their capacity grows with the client's business. Fully managed hosting is what we do best, and AIS Network has been delivering it in the form of managed, cloud and email hosting since 1993. Unlike most hosting companies, AIS Network, a SAS 70-certified organization, personalizes client service at every level, inspiring full confidence that mission-critical data, applications and email are in reliable hands. Visit www.aisn.net.
__________________________________________
Cards Ron collected at Social Media Club Chicago on 6/24/2010
Jonathan R. Pasky
Principal / Registered Patent Attorney
Pasky IP
Intellectual Property Law
www.paskyip.com
jrpasky@paskyip.com
Lauren Snyder
Public Relations
Depaul University
Linkedin.com/in/snyder229
lsnyder229@gmail.com
Christina Canright
President
Canright Communications
www.canrightcommunications.com
christina@canrightcommunications.com
Jeana Anderson
Community Moderator
Critical Mass
www.critialmass.com
jeanaa@criticalmass.com
Russell Roering
Social Media Content Manager
Air Cut
www.aircut.com
rroeoing@aircut.com
John A Kosis
Curiousity For Knowledge
website not available on card
jakosic@sbcglobal.net
Collin Canright
Principal
Canright Communications
www.canrightcommunications.com
collin@canrightcommunications.com
Jen Tatro
Manager
Ms&L Midwest
www.mslwordwide.com
jen.tatro@mslworldwide.com
Lynn Hazan
President
Lynn Hazan & Associates
www.lhazan.com
lynn@lhazan.com
Rachel Kaberon
Managing Partner
Arkay Solutions llc
www.arkaysolutionsllc.com
rkaberon@arkaysolutionsllc.com
Daryl Niemerow
Director of External Affairs
LA's Best Corporate Office
www.lasbest.org
daryl.niemerow@lacity.org
Paulo Mendes
Portugal
British Council
www.britishcouncil.org/tn2020
mendespaulo@gmail.com
Nate St. Pierre
Founder
Itstartswith.us
itstartswith.us
nate@itstartswith.us
Jason Steinberg
Vice President, Director of Digital
MS&L
www.mslworldwide.com
M.H. Vorthoren, MSc
Policy Officer
Spior
www.spior.nl
m.vorthoren@spior.nl
Mr. Federico Podeschi
Chief Executive Officer
GBT Excellence Centre
www.ecwales.org.uk
federico@ecwales.org.uk
Laetitiia ADHEMAR
CEO Alliance Office
Executive Secretary
Renault Nissan
website not available
laetitia.adhemar@renault.com
Paolo Pietropaolo
Producer,Broadcaster,Writer
Paolo Pietropaolo
www.earbones.ca
malleus@earbones.ca
Annabel Knight
Project Offiicer
Calouste Gulbenkian Foundation
www.gulbenkian.org.uk
annabelknight@gulbenkian.org.uk
Xan Pearson
Director of Corporate
Training Academy
www.bullssoxacademy.com
Xan Pearson@bullssoxacademy.com
Bill Teichert
bteichert@hotmail.com
Monika Zarow, MBA
Project Coordinator
Name of Business Not Available
www.linkedin.com/in/monikakazarow
mzarow.com@gmail.com
Paul Octavio Rios
MIT Sloan Management
paul.rios@sloan.mit.edu
Timothy M. Mojonnier
Management Education & Consulting
Mojonnier & Associates
www.philosophiesofbusiness.com
tim@timmojonnier
Gwyn R. Fisher
Executive Director
Mpact Memphis
www.mpactmemphis.org
gfisher@mpactmemphis.org
Tanya Rose Stanfield
Project Manager
linkedin.com/in/tanyaroseimc
rtstanfield@gmail.com
Tim McDonald
Broker Associate
@properties
atproperties.com
tmcdonald@atproperties.com
Phoebe J. Grant
Insurence Represenative
Brewer Investment Group
brewerinvestmenntgrouup.com
pgrant@brewerinvestmmentgroup.com
Kim Redd
Business development
Rapleaf
www.rapleaf.com
kim@rapleaf.com
Anthony Bernas
Director of Operations
Let's Dabble
www.letsdabbe.com
anthony@etdabble.c
Arturo Pelayo
ocean uiveersity
www.oceannuniversity.org
arturo.pelayo@gmail.com
Don Jaynes
Ednovia learning Soulutions
www.ednovia.com
Brendan Tripp
searching for position
btripp@gmail.com
resume online at
http://bbtripp.info
Luann Workman Collins
CEO/Owner
Jaguar Data Systems INC.
www.jaguardata.com
lcollins@jaguardata.com
Erik J. Hultman
Servant Leader
Uber Blue DM
ejhultman@gmail.com
Morgan Hartley
Money Think
www.moneythink.org
mhartley@moneythink.org
Mark J. Carter
Founder
One 80
www.thrivetime.com
mjcarter@thrivetime.com
____________________________________
Cards Ron collected a Ignite Chicago on 6/9/2010
Zishan Ahmad
Founder/ Chief Architect
Tech Scene
www.techscene.us
zishan@tecscene.us
Jason Fuerst
Business Development
Mundo Com
www.mundocomww.com
jason.fuerst@mundocomww.com
Lauren Kleiman
Graphic Design/ Photo Retouching
Lauren Kleiman.com
laurenrosekleiman@gmail..com
Ed Suda
Co- founder
Emotion
www.emotioncorporation.com
ed@emotioncorporation.com
________________________________________
Cards Ron collected at TBIF (The Big Idea Forum) on 6/21/2010
Phillip Leslie
Founder & CEO
ProOnGo
www.proongo.com
phillip@proongo.com
Peter Tapling
President & CEO
Authentify, INC
www.authentify.com
petertapling@authentify.com
Joe Sprovieri
Founder/CEO
Ready Ping
www.readyping.com
joe@readyping.com
Fred Hoch
President
Illinois Technoogy Assocication
www.illinoistech.org
fhoch@illinoistech.org
Samir Anil Shah
MBA
The University of Chicago Booth School of Business
samirshah23@chicagobooth.edu
Kent Mages
Senior Project Manager
Roam Data
www.roamdata.com
social.kentmages.com
kent.mages@roamdata.com
Ken Mages
VP of Business Deveopment
Roam Data
www.roamdata.com
kmages@roamdata.com
Laura Toerner
Account Manager
101.9 The Mix
www.wtmx.com
ltoerner@wtmx.com
Jason Shah
VP of Product Management
Mediafly
mediafly.com
jshah@medifly.com
Amanda Perry
Designer
Dr.Graphx
www.drgraphx.com
amanda@drgraphx.com
Anderw Bezaitis
Senior Vice President
Corporate Development
Aspect
www.Aspect Software.com
andrew.bezaitis@aspect.com
Ted Greene
Old Willow Partners
www.oldwillowpartners.com
ted@oldwillowpartners.com
Gary L. Dollinger
Chief Executive Officer
Adalyze Technologies
www.adalyze.com
gary@adalyze.com
Scott B. Harris
scott@scottharris.com
Warren Bent
VP Sales And Marketing
InCharge Systems,Inc.
www.inchargesys.com
warren@inchargesys.com
Mike Coop
Hey Coop,LLC
www..heycoop.com
mcoop@heycoop.com
Mil Ovan
Movan@comcast.net
Robbie Abed, PMP
President
Design Develop Delivr
robbie.abed@rawdesignr.com
_____________________________________
END OF PART TWO. PART THREE AWAITS. |
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