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September 2018 Archives

Signed term sheet a good sign, not a guarantee

For entrepreneurs and business owners in California, securing a term sheet is a major step in the fundraising process. Once the term sheet is in hand, potential investors may speed up their evaluation processes and the next stages of the deal are set in motion. Following the receipt of the term sheet, legal review and due diligence can begin in earnest.

Apple's Shazam acquisition completed after regulatory approval

The popular song-recognition mobile app Shazam was acquired by California-based Apple for $400 million. While an announcement of the deal was made in December 2017, the acquisition was delayed by a European Union investigation into potential antitrust issues. However, the EU regulators approved the merger in early September. In one step following the acquisition, Apple has announced that it will be removing all advertising content from the app. The ad content will be removed on both the iOS version, for Apple's mobile devices, and the Android version.

Teem purchased for $100 million by WeWork

Those who live and work in California may be familiar with a company called WeWork. It has been around for about eight years and is estimated to be worth $35 billion. The company just acquired a business called Teem for $100 million in cash. Teem and WeWork have many of the same customers, and the acquisition is said to help WeWork create flashier tools for its clients.

Talos Energy expands Gulf oil assets with acquisition of Whistler

Energy producers drilling in the Gulf of Mexico contribute to the energy needs of California. One of those producers, Talos Energy Inc., has completed a deal to acquire Whistler Energy II, LLC, which will significantly expand its access to future reserves of oil and gas. For a purchase price of $52 million, Talos gained Whistler's annual production of 1,900 barrels of oil equivalent per day.

FCC needs more time to review telecommunications merger

California residents who follow the technology and communication sectors are likely aware that the telecommunication giants T-Mobile and Sprint have announced a proposed merger. Consumer rights groups have voiced concerns about the deal and the impact that it could have on wireless service costs, and the Federal Communications Commission said on Sept. 11 that it needs more time to review the merger to determine whether or not these arguments have merit.

Issues that cause VCs to say no to funding start-up companies

The entrepreneurial ambitions of business people in California often depend on venture capitalists and VC firms investing in start-up companies. Entrepreneurs typically strive to make their best cases when asking for money, but their efforts might be sabotaged by overlooked issues or even rivalries among VCs that are beyond their control.

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