Beyda: We Invest in Great Teams (Video: Bloomberg TV)

Genacast Ventures' Gil Beyda talks about the venture capital market and his firm's investment strategy in this 10 minute Bloomberg TV interview.

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Daily Links 8/9/2012: Philly papers still losing dough, looking for more cutsCapital not so patient

Philadelphia newspapers lose $16 million, seek $28 million in cuts (Poynter)

Salesforce Attracts Big Rivals As Strategy Delivers (Bloomberg)

Why Workday Is Different by Design, and Why It Matters (Stan Swete/Workday Blog)

PANL (Universal Display) Surges 20%: Bulls and Bears Argue Materials Sales Timing (Barron's: Tech Trader Daily)

Announcing a Live Chat With MeetMe Founder Catherine Cook (Mashable)

5 startups to watch from DreamIt Ventures NYC demo day 2012 (Gigaom)

SevOne Scales Up Its Network Monitoring Cluster Solutions (eWeek)
SevOne is based in Wilmington.


Philly-based Connectify combines Wi-Fi, 4G into a superfast wireless pipe (Gigaom)
In an interesting twist, Connectify, which has received funding from a CIA-backed VC firm, is using Kickstarter to crowdsource funding for its new project.

NBC ‘Ideal’ Buyer for Starz Spinoff Says Analyst (Wall Street Journal: Deal Journal)

Photos: Comcast/NBCU Ultra-HD Demo (Light Reading Cable)

Kevin Tofel Inspires Apple To Build Smaller iPad (Zatz Not Funny!)
Kevin Tofel is the Philly area-based Mobile Channel Editor at GigaOM and Podcast Host and Producer at MobileTechRoundUp.com.


Devon IT to Feature New Thin Clients, Software at VMworld 2012 (Business Wire via MarketWatch)



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Liberty Interactive reports 4% QVC growth; China joint venture approved, set for split-off

Tom Paine

Liberty Interactive today reported results for its 2nd quarter 2012, including those for its principal business, West Chester-based QVC.

QVC's consolidated revenue increased 4% to $2 billion, while operating income increased 7% to $301 million. QVC's US revenue grew 4% to $1.3 billion, while QVC said eCommerce revenue increased 15% to $498 million and grew to 39% from 35% as a percentage of total U.S. revenue. International revenue also grew 4% in the quarter. Liberty Interactive also contains a number of smaller eCommerce businesses.

QVC said it received government approval in July from China to proceed with its joint venture with China National Radio.

Liberty Interactive also confirm it was creating another tracking stock to be called Liberty Ventures, breaking out its holdings in Expedia and other properties from Liberty Interactive, which will then consist of QVC and the smaller eCommerce businesses. Liberty Ventures is expected to begin trading on Friday.

Liberty Interactive also repurchased $257 million of its stock during the quarter. In its current form, Liberty Interactive (NASDAQ:LINTA) was split off from Liberty Media last September. It has a market capitalization of almost $11 billion.

Separately, Liberty Media in reporting its results said a small decrease in revenue was "primarily due to a decrease in revenue at [Berwyn-based] TruePosition which continues to be out of contract with one of its large customers". It also announced it would be spinning off cable movie channel provider Starz into a separate publicly traded company.



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Daily Links 8/8/2012: Philly names city's first Chief Data Officer

5 charged, others sought in scheme to bilk Comcast (Philadelphia Inquirer)

Customers Can Quickly and Easily Turn Their New Home into a Connected Home with Comcast’s Movers Edge Program (Business Wire)


Welcome Upstart (Redeye VC)

Philadelphia Gets a Chief Data Officer (Government Technology)
Mark Headd named to new post.

MeetMe, Inc. Reports Record Results for the Second Quarter of 2012 (Marketwire via MarketWatch)
2nd quarter revenue up 47% over combined Quepasa/myYearbook revenue from a year ago.

Universal Display Corporation Announces Second Quarter 2012 Financial Results (Business Wire)

Kenexa Shares Up 14% After Q2 Earnings, Revenue Beat (Investors Business Daily)

BioClinica Reports 12.8% Growth in Second Quarter Service Revenue (Business Wire via MarketWatch)

CardioNet, Inc. Reports Second Quarter 2012 Financial Results (Business Wire)



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Highlights on Philly Tech News (7/23/2012 to 8/5/2012): Accenture acquires Octagon; A look at Philly MedAd firms

Accenture announced last week it would acquire clinical data technology firm Octagon Research Solutions of Wayne. Terms were not disclosed; Accenture said Octagon has a headcount of 380.

Comcast reported positive earnings results last week despite problems in filmed entertainment. Management emphasized that NBC's Olympics ratings were exceeding expectations and that it might even break even on the event, although there was some dispute as to what that meant.

I looked at Medical Marketing & Media's annual agency issue, focusing on the 17 agencies among MM&M's top 100 based in the Philadelphia area.

Quality Systems, parent of Horsham-based NextGen Healthcare (its principal business), saw its shares plunge 33% after reporting disappointing earnings on July 26. Quality Systems faces a major proxy challenge at its annual shareholders meeting on August 16.

Conshohocken-based ShopRunner, a piece of GSI Commerce founder Michael Rubin's Kynetic LLC, brought in ex-Yahoo CEO Scott Thompson as its CEO. Thompson had recently left Yahoo after a discrepancy in his biographical information was uncovered.

SAP reached an agreement to settle Oracle's TomorrowNow lawsuit for $306 million, in addition to the $120 million SAP has already paid to cover legal costs. This eliminates the need for a retrial, which was scheduled to begin late this month. Oracle says it will still appeal a judge's rejection of a $1.3 billion damages award reached by a jury.



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Daily Links 8/7/2012: First Round Capital invests in FundersClub; NextStage backs HigherNext

Welcome FundersClub (Josh Kopelman/Redeye VC)

Here Are The 10 Cities Where Amazon Offers Same-Day Delivery (And Why We'll See More Soon) (Silicon Alley Insider)
Philadelphia is one of them, though its costly.

“Yes, There Are Homes That Are Cutting the Cord.” (All Things Digital)
Says Bernstein analyst Craig Moffett, who has always been skeptical that anyone would want to cut the cord to their wonderful cable provider for any reason other than the most dire economic circumstances.

A look at cable, satellite TV earnings reports (AP via Business Week)

New technologies, clearer roadmaps benefiting SAP SCM customer (SearchSAP)

THE PSYCHOLOGY OF SAAS PRICING (Joe Allegra/Edison Ventures Community)

Center City's HigherNext gets an A for funding; hiring marketer, developer (Flying Kite)
Funding led by Audubon, PA-based NextStage Capital. The plan is for HigherNext to relocate to the Lehigh Valley, according to NextStage's release.

Nielsen Uses MediaMath For Cross-Platform Ad Analytics
Microsoft, Adap.TV Among Clients Using Nielsen's Online Audience Segments - TV Viewing Service (Multichannel News)
Safeguard Scientifics is a major investor in MediaMath.

Kenexa Announces Financial Results for Second Quarter 2012 (Business Wire)
Increases guidance for year.

Synygy Reports Sustained Strong Growth Business Wire)

Barclaycard chief: U.S. mobile market a challenge (Delaware Online: Delaware Inc)



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phillytechnews twitterfeed 8/5 to 8/6/2012

phillytechnews: Light Reading Cable: Google may sell off Horsham-based Motorola Home by year end http://t.co/sZKNDSy9 Posted: 06 Aug 2012 11:25 AM PDT phillytechnews: Light Reading Cable: Google may sell off Horsham-based Motorola Home by year end http://t.co/sZKNDSy9

phillytechnews: RT @DigMedCom: The Medical Marketing Daily is out! http://t.co/OdVU6Eu1 ▸ Top stories today via @DrMarketingTips @CCHR @phillytechnews Posted: 06 Aug 2012 11:07 AM PDT phillytechnews: RT @DigMedCom: The Medical Marketing Daily is out! http://t.co/OdVU6Eu1 ▸ Top stories today via @DrMarketingTips @CCHR @phillytechnews

phillytechnews: RT @evwelsh: SAP Hits Home Run With New York Yankees Partnership http://t.co/F2u9TnKw #SCN via @SAPCommNet Posted: 06 Aug 2012 11:06 AM PDT phillytechnews: RT @evwelsh: SAP Hits Home Run With New York Yankees Partnership http://t.co/F2u9TnKw #SCN via @SAPCommNet

phillytechnews: New PTN Post: Dennis Howlett: Significant SuccessFactors accounting issues prior to being acquired by SAP http://t.co/tukXLGCE Posted: 06 Aug 2012 11:03 AM PDT phillytechnews: New PTN Post: Dennis Howlett: Significant SuccessFactors accounting issues prior to being acquired by SAP http://t.co/tukXLGCE

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Dennis Howlett: Significant SuccessFactors accounting issues prior to being acquired by SAP

Enterprise Software consultant, analyst and blogger Dennis Howlett discovered that SuccessFactors had significant, "material" accounting issues at the time SAP agreed to acquire it last year. He questions whether SAP understood all these issues at the time of the agreeement, and whether SuccessFactors may have been overvalued as a result. Similar questions exist for many other SaaS and Cloud Vendors, which often use some accounting metrics and recognition methods that differ from more tradtional software vendors.

Ascent Venture Partners partner Matt Fates, writing in Gigaom, offers a explanation of using metrics that reflect a SaaS perspective. This may be appropriate, but that doesn't justify material accounting deficiencies that may have existed in the case of SuccessFactors.



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Ben Franklin Technology Partners SEP Invests $1.375M in Seven Early-Stage Companies

Ben Franklin Technology Partners of Southeastern Pennsylvania announced today it had approved investments totaling $1.375 million in seven early stage ventures. BFTP had previously invested in two of these ventures. Ben Franklin's press release:

Ben Franklin Technology Partners of Southeastern Pennsylvania Approves $1.375M for Seven Early-Stage Companies

August 6, 2012

PHILADELPHIA, PA (www.sep.benfranklin.org) – Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP) recently approved $1,375,000 in funding for seven early-stage companies.

“We’re excited that this round of investments is comprised of such a diverse group of companies - with target consumers ranging from energy efficient manufacturers to diabetic patients to television viewers,” said RoseAnn B. Rosenthal, President & CEO of Ben Franklin Technology Partners of Southeastern Pennsylvania. “Southeastern Pennsylvania is becoming a leader in developing technologies that affect just about every facet of our lives,” she added.


Companies approved for funding:

ARB Geowell – West Conshohocken – Montgomery County – Approved Investment: $125,000

ARB Geowell has developed a novel geothermal heating/cooling platform that permits better heat transfer in the underground well. Using a unique design that provides more surface area and better contact with the earth, ARB Geowell’s system offers higher energy efficiency. In most cases, the increased efficiency allows the project to eliminate the need to drill multiple holes on site, and thus markedly lower the cost of construction.

Its target market ranges from residential homes to commercial buildings, schools and developments.

The company is led by Harry R. Halloran, Jr., President; Kathryn Coffey, COO; and Albert A. Koenig, Ph.D., Vice President.


Brad’s Raw Chips, LLC – Pipersville – Bucks County – Approved Investment: $100,000

Brad’s Raw Chips, manufactured with an advanced dehydration system, was launched when its founder and creator, Brad Gruno, made significant changes in his life and discovered the health benefits of eating raw. In order to still be able to enjoy crunchy snacks, he began making his own raw chips in his kitchen.

The snacks he developed are now the basis of the company’s line of healthy, crunchy snacks made from dehydrated raw, healthy foods—such as fresh vegetables, nuts, and seeds. All of the company’s products contain no chemicals, preservatives, trans-fats, or gluten.

The company’s products are sourced from local farms whenever possible, and are considered “raw’ because they are not baked or fried, but rather are dehydrated to preserve all the nutrients and enzymes. It is currently developing other raw food products including dips, granola, pizza crust, and crackers.

Brad’s Raw Chips is led by CEO & Founder Brad Gruno, and COO Walter Gruger.


Drakontas, LLC – Glenside – Montgomery County – Approved Investment: $250,000

Drakontas has created mobile collaboration software that helps teams share information while working together, via smartphones, tablets, computers, etc. to enable real-time exchange of critical data.

Their solutions primarily serve government factions, such as police, military, fire, emergency response, and public service teams; helping them to improve operations and efficiency, make decisions more quickly, and enhance their own and the public’s safety.

Drakontas’ flagship product, DragonForce™, combines geo-tracking (which allows for tracking of personnel on maps and floor plans), a whiteboard for coordinating tactics, shared media and files of critical information, and text messaging; to allow law enforcement teams to act faster, safer, and more efficiently.

The company is led by Dr. Brian Regli, CEO; James J. Sim, President & COO; Dr. Alan Kaplan, CTO; and Joseph Madgey, CAO.

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Daily Links 8/6/2012: Report says Google has decided to sell Motorola Home; Vanguard bringing techie back in to lead IT

Google Preps Sale of Motorola Home (Light Reading Cable)
Horsham-based unit might be sold by year end, according to Light Reading's sources, though Google may strip off and retain some IP assets.

For Vanguard CIO, Running IT Comes Second
Vanguard is bringing a true techie back in to lead IT, but his job will be about a lot more than technology. (Information Week)
GE veteran John Marcante becomes CIO, and former CIO Paul Heller becomes head of the retail investor group.


Minneapolis spent millions on no-bid IT contract (Minneapolis Star Tribune)
Some questioning city's long term relationship with Unisys.

Viridity receives $15M investment (Philadelphia Inquirer)
From Japanese corporation; values Viridity at $100 million.

Comcast's Brian Roberts: ‘We see these Olympics as a real laboratory’ (Sports Business Daily)

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Philly Tech People News 8/5/2012: Temple expected to name new President

The choice to lead Temple University wins praise for administrative, people, and money skills (Philadelphia Inquirer)

Pa. Convention Center hopes hire will make it more competitive (Philadelphia Business Journal)

Greenphire appoints John Blakeley Chief Commercial Officer (Greenphire Press Release)

Rob Morin Joins Tangent Energy Solutions as Vice President of Business Development (Tangent Energy Solutions Press Release)

WPCS Appoints Kevin P. Coyle to Board of Directors (Marketwire)

Rembrandt IP Management, LLC Announces the Addition of Meredith L. Carter as Managing Director of Business Development (Business Wire)




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