Today Marrone Bio Innovations (Symbol: MBII) of Davis had their initial public offering on the NASDAQ stock exchange. It was priced at $12/share and ended the day at $13.75.
SacAngel members first invested in the company in 2006 as part of MBI’s first round of funding (Series A). It is estimated from the company S-1/A filing with the SEC that those investors had a return in the range of 6.4x based on the closing price today (i.e., for every dollar invested, their return today, if they sold their stock, would be $6.4). Similarly, those that invested in subsequent Series B (2008) and Series C (2010-11) financing rounds got returns of 3.9x and 3.6x, respectively.
The group invested in EcoTensil earlier this year along numerous other angel groups in a syndicated deal for $850K. There are a number of press releases on the web like this one, and below is a press release we received from the company.
ECOTENSIL CLOSES OVER-SUBSCRIBED SERIES A ROUND, ACHIEVES OTHER SIGNIFICANT BUSINESS MILESTONES
EcoTensil, Inc., maker of the most eco-friendly paperboard utensils available, announced that it has over-subscribed and closed its Series A round of financing, having raised in excess of $850,000. The successful capital raise complements some other important business milestones, such as the shipment of the company’s first SpoonLidz on-package product, and the move into a new, larger office.
We like to know what’s happened to some of the people/companies that have presented to us even if we did not invest. It helps us understand markets and new trends; and sometimes, by staying abreast of the company, it might encourage us to invite them back to take another look. Maybe we gave them some good guidance in the feedback sessions that are incorporated into our dinners.
Kohl presented LaborVoices to us last year and this article follows the tragic Bangladesh garment factory fire.
In late December, the California Franchise Tax Board (FTB) decided to cancel the Qualified Small Business Stock (QSB ) tax benefits and retroactively deny the benefits for the past five years. Yes, RETROACTIVELY! Investors and Entpreneurs alike are in for a surprise — see this article for a summary of the change in QSB benefits and how it effected its author.
Here is just one quote from the article:
“More importantly, the FTB’s radical action is going to send a terrifying message that will have the unintended consequence of driving young, growing businesses to friendlier environments. That’s the last thing that the state of California needs right now”
The company has developed automatic tire inflation technology and had gained enough customer interest in the last year to attract this new $5.7M round of funding. The technolgy utilizes a wheel’s rotational motion to maintain optimal tire pressure, increasing MPG, extending tire life, and reducing blowouts. For the trucking industry this value proposition is significant.
On this website we often mention the work we do in the community helping entrepreneurs and startups in ways other than purely putting up hard dollars – e.g., our Angels on Campus and Angel In Action programs, and being advisors in the VentureStart program. Most of that “community” work is done in the background and seldom are the results obvious or transparent – usually we’re just one of many helping hands contributing to any one success.
Aperia have kept a pretty low profile since their funding while the product was developed and market development was initiated. Recently, more information about the company has emerged as the company CEO, Josh Carter, was invited to speak at the Wall Street Journal ECO:nomics conference in Santa Barbara (take a look at the program; it has some pretty impressive speakers).
Today we saw this press release about our Portfolio company, Glue Networks, new product, Cisco Virtual Office-as-a-Service (CVOaaS). They are showcasing the product at Geek Day in Washington,US.
The new release automatically builds, maintains, monitors, and manages next-gen networks anywhere in the world, and delivers voice, video and real-time data applications for remote offices and employees with plug-and-play simplicity, error-free set up, military-grade security, and full network lifecycle management for a low monthly fee.