SILICON VALLEY INVESTORS DISCOVER LA'S STAR APPEAL
By Matthew Garrahan in Los Angeles
Tuesday, April 29, 2008
After two decades watching their neighbors in Silicon Valley attract more venture capital investment than anywhere else in the US, companies in southern California are making a comeback.
Successive technology booms have made the northern California technology corridor the undisputed leader when it comes to start-up investment.
But a new generation of Internet companies specializing in content management, online advertising and search optimization has established headquarters in Los Angeles, which is acting as a magnet for investors.
First-quarter figures released last week by the National Venture Capital Association show that southern California, which includes Los Angeles, San Diego and Orange County, leapfrogged New England by attracting more venture capital investment, lifting it to second place behind Silicon Valley.
Silicon Valley is still the most dominant region, attracting $2.58bn of investment in the first quarter compared with $857m for southern California, according to the NVCA. But Silicon Valley investors are increasingly looking south for new opportunities.
San Diego has a vibrant biotechnology industry and Orange County's medical device sector has also attracted investment. However, the concentration of digital media companies in Los Angeles has made the city “the rising star” in the region, according to Randy Churchill, director of business development at PWC, which compiles the quarterly figures with the NVCA.
“We are increasingly seeing venture capitalists based in Silicon Valley hop on a plane and go to Los Angeles,” says Mark Heesen, president of the NVCA. “And they're setting up shop there.”
Dealmaker, a San Francisco group that organizes networking events for entrepreneurs and technology investors, recently opened a Los Angeles branch and has held two over-subscribed events in the city this year. The inaugural party took place at the offices of Michael Ovitz, the former Hollywood super-agent who founded the Creative Artists Agency.
“In the 1980s, all venture capital investment in southern California was driven by defence contracts at companies like Boeing and Lockheed,” says Jack Kennedy, executive vice-president of strategy and corporate development at Los Angeles-based Fox Interactive Media, the digital arm of News Corporation.
Defence-related investments began to fade away in the 1990s, he adds, and were replaced by video game groups and, eventually, online companies. “The talent that surged to Los Angeles gravitated to specific areas, whether it was [online] delivery systems, monetization technology or content.”
Proximity to Hollywood and the entertainment industry has also helped lure web start-ups. “Being here means it is easier to strike deals with studios.”
William Quigley, managing partner of Santa Monica's Clearstone Partners, which has invested in The Rubicon Project, a Los Angeles-based online advertising network, agrees the entertainment industry has played a key role in luring start-up money. “Fox and Disney have very strong internet groups . . . that's driving a lot of start-up capital.”
MySpace, which is part of Fox Interactive Media, is probably the best-known online group in Los Angeles. LowerMyBills, PriceGrabber and Fandango, the online cinema tickets company that was acquired by Comcast last year, are also in the city. Experian, the credit reporting group, bought PriceGrabber and LowerMyBills two years ago for $485m and $380m respectively.
Mr Quigley says sales of web companies have helped the region. “These entrepreneurs are now either funding new entities as angel investors or they're starting new businesses.”
The Rubicon Project is the latest in a string of businesses started by Frank Addante. He moved StrongMail, an e-mail delivery software group, from Los Angeles to San Francisco, partly because he could not find the right software engineers in southern California.
He moved back to Los Angeles, after sensing a fundamental shift in the city, to start Rubicon. “In the last couple of years the technology industry in southern California has changed. It has become much more connected.”
------------------------------------------------------
译文：
硅谷第二 - 南加州（洛杉矶, 圣地亚哥和奥兰治)
二十年来，南加利福尼亚的各家公司一直眼睁睁地看着硅谷(Silicon Valley)的邻居们吸引到全美各地都无法媲美的风险资本投资，而现在，它们也迎来了自身的复兴。
以创业投资而论，连续的技术繁荣已经让北加州的这个技术走廊（指硅谷）成为无可非议的领军地带。
但专擅于内容管理、在线广告和优化搜索的新一代互联网公司则纷纷在洛杉矶成立总部。洛杉矶正成为吸引投资者的一块磁铁。
据美国风险投资协会(National Venture Capital Association)上周公布的一季度数据显示，包括洛杉矶、圣地亚哥和奥兰治郡在内的南加州地区超过新英格兰地区，所吸引的风险资本投资额已跃居全国第二，地位仅次于硅谷。
据美国风险投资协会称，硅谷目前仍遥遥领先，一季度吸引到的投资总额为25.8亿美元，而南加州为8.57亿美元。但硅谷的投资者们却日益趋向于南下寻找新的投资机遇。
圣地亚哥的生物技术产业较为兴旺，而奥兰治郡的医疗设备行业也有吸引力。不过，普华永道(PwC)业务开发主管兰迪•丘吉尔(Randy Churchill)称，数字媒体公司云集洛杉矶，已经使得这座城市称为“一颗新星”。普华永道与美国风险投资协会一起汇编了上述数据。
美国风险投资协会主席马克•赫森(Mark Heesen)表示：“我们越来越多地看到，总部设在硅谷的风险投资家们正匆匆登上奔赴洛杉矶的飞机。他们要去那里开设门店。”
Dealmaker 是旧金山的一家公司，负责为企业家和技术投资者牵线搭桥。最近它在洛杉矶开设了一家分部，今年还在当地举办了两场活动，报名者爆满。第一次活动是在原好莱坞超级经纪人、创新艺人经纪公司(Creative Artists Agency)创办人迈克尔•奥维茨(Michael Ovitz)的办公室举办的。
总位位于洛杉矶的福克斯互动媒体(Fox Interactive Media)战略与企业发展部门执行副总裁杰克•肯尼迪(Jack Kennedy)表示：“在上世纪80年代，南加州地区所有的风险投资都依仗于波音(Boeing)和洛克希德(Lockheed)等公司的防务合同。” 福克斯互动媒体是新闻集团(News Corporation)下属的数字业务公司。
他补充道，与防务相关的投资在上世纪90年代开始衰落，取而代之的是电子游戏公司，最终则是网络公司。“无论是（网上）配送系统、货币化技术，或是内容服务，这些特殊领域都会吸引那些人才涌入到洛杉矶。”
与好莱坞以及娱乐产业的贴近，也有助于吸引到网络初创公司。“身处此地，意味着可以更容易地与各个电影公司做生意。”
总部位于圣莫尼卡的风险投资公司Clearstone Partners的管理合伙人威廉•奎格利(William Quigley)也认为，娱乐业在吸引创业投资方面起到了关键作用。“福克斯(Fox)和迪斯尼(Disney)拥有非常强大的互联网群……带动了大批创投资本。”Clearstone曾投资于总部位于洛矶杉的在线广告网络The Rubicon Project。
MySpace是福克斯互动媒体的一部分，也许是洛杉矶最为人熟知的网群了。“省钱网”(LowerMyBills)、“砍价网”(PriceGrabber)和方登戈 (Fandango)也都设在洛杉矶。方登戈是一家在线电影票务公司，去年被康卡斯特(Comcast)收购。而信贷信息服务公司益百利 (Experian)则在两年前分别以4.85亿美元和3.8亿美元的价格购得“省钱网”和“砍价网”。
奎格利认为，网络公司的收购交易帮助了这个地区。“这些企业家现在或是以天使投资者(angel investor)的身份来资助新单位，或是正在启动新的业务。”
The Rubicon Project是弗兰克•阿丹特(Frank Addante)启动的一系列业务中最新的一项。以前，他曾将电邮发送软件公司StrongMail从洛杉矶转移至旧金山，部分原因是在南加州地区找不到合适的软件工程师。
在感觉洛杉矶已出现一些根本性的转变之后，他又重新回到这个城市，并且还启动了The Rubicon Project。“在过去几年里，南加州的技术产业确已发生变化。它已经形成了更为密切的联系。”
译者/李晖
By Matthew Garrahan in Los Angeles
Tuesday, April 29, 2008
After two decades watching their neighbors in Silicon Valley attract more venture capital investment than anywhere else in the US, companies in southern California are making a comeback.
Successive technology booms have made the northern California technology corridor the undisputed leader when it comes to start-up investment.
But a new generation of Internet companies specializing in content management, online advertising and search optimization has established headquarters in Los Angeles, which is acting as a magnet for investors.
First-quarter figures released last week by the National Venture Capital Association show that southern California, which includes Los Angeles, San Diego and Orange County, leapfrogged New England by attracting more venture capital investment, lifting it to second place behind Silicon Valley.
Silicon Valley is still the most dominant region, attracting $2.58bn of investment in the first quarter compared with $857m for southern California, according to the NVCA. But Silicon Valley investors are increasingly looking south for new opportunities.
San Diego has a vibrant biotechnology industry and Orange County's medical device sector has also attracted investment. However, the concentration of digital media companies in Los Angeles has made the city “the rising star” in the region, according to Randy Churchill, director of business development at PWC, which compiles the quarterly figures with the NVCA.
“We are increasingly seeing venture capitalists based in Silicon Valley hop on a plane and go to Los Angeles,” says Mark Heesen, president of the NVCA. “And they're setting up shop there.”
Dealmaker, a San Francisco group that organizes networking events for entrepreneurs and technology investors, recently opened a Los Angeles branch and has held two over-subscribed events in the city this year. The inaugural party took place at the offices of Michael Ovitz, the former Hollywood super-agent who founded the Creative Artists Agency.
“In the 1980s, all venture capital investment in southern California was driven by defence contracts at companies like Boeing and Lockheed,” says Jack Kennedy, executive vice-president of strategy and corporate development at Los Angeles-based Fox Interactive Media, the digital arm of News Corporation.
Defence-related investments began to fade away in the 1990s, he adds, and were replaced by video game groups and, eventually, online companies. “The talent that surged to Los Angeles gravitated to specific areas, whether it was [online] delivery systems, monetization technology or content.”
Proximity to Hollywood and the entertainment industry has also helped lure web start-ups. “Being here means it is easier to strike deals with studios.”
William Quigley, managing partner of Santa Monica's Clearstone Partners, which has invested in The Rubicon Project, a Los Angeles-based online advertising network, agrees the entertainment industry has played a key role in luring start-up money. “Fox and Disney have very strong internet groups . . . that's driving a lot of start-up capital.”
MySpace, which is part of Fox Interactive Media, is probably the best-known online group in Los Angeles. LowerMyBills, PriceGrabber and Fandango, the online cinema tickets company that was acquired by Comcast last year, are also in the city. Experian, the credit reporting group, bought PriceGrabber and LowerMyBills two years ago for $485m and $380m respectively.
Mr Quigley says sales of web companies have helped the region. “These entrepreneurs are now either funding new entities as angel investors or they're starting new businesses.”
The Rubicon Project is the latest in a string of businesses started by Frank Addante. He moved StrongMail, an e-mail delivery software group, from Los Angeles to San Francisco, partly because he could not find the right software engineers in southern California.
He moved back to Los Angeles, after sensing a fundamental shift in the city, to start Rubicon. “In the last couple of years the technology industry in southern California has changed. It has become much more connected.”
------------------------------------------------------
译文：
硅谷第二 - 南加州（洛杉矶, 圣地亚哥和奥兰治)
二十年来，南加利福尼亚的各家公司一直眼睁睁地看着硅谷(Silicon Valley)的邻居们吸引到全美各地都无法媲美的风险资本投资，而现在，它们也迎来了自身的复兴。
以创业投资而论，连续的技术繁荣已经让北加州的这个技术走廊（指硅谷）成为无可非议的领军地带。
但专擅于内容管理、在线广告和优化搜索的新一代互联网公司则纷纷在洛杉矶成立总部。洛杉矶正成为吸引投资者的一块磁铁。
据美国风险投资协会(National Venture Capital Association)上周公布的一季度数据显示，包括洛杉矶、圣地亚哥和奥兰治郡在内的南加州地区超过新英格兰地区，所吸引的风险资本投资额已跃居全国第二，地位仅次于硅谷。
据美国风险投资协会称，硅谷目前仍遥遥领先，一季度吸引到的投资总额为25.8亿美元，而南加州为8.57亿美元。但硅谷的投资者们却日益趋向于南下寻找新的投资机遇。
圣地亚哥的生物技术产业较为兴旺，而奥兰治郡的医疗设备行业也有吸引力。不过，普华永道(PwC)业务开发主管兰迪•丘吉尔(Randy Churchill)称，数字媒体公司云集洛杉矶，已经使得这座城市称为“一颗新星”。普华永道与美国风险投资协会一起汇编了上述数据。
美国风险投资协会主席马克•赫森(Mark Heesen)表示：“我们越来越多地看到，总部设在硅谷的风险投资家们正匆匆登上奔赴洛杉矶的飞机。他们要去那里开设门店。”
Dealmaker 是旧金山的一家公司，负责为企业家和技术投资者牵线搭桥。最近它在洛杉矶开设了一家分部，今年还在当地举办了两场活动，报名者爆满。第一次活动是在原好莱坞超级经纪人、创新艺人经纪公司(Creative Artists Agency)创办人迈克尔•奥维茨(Michael Ovitz)的办公室举办的。
总位位于洛杉矶的福克斯互动媒体(Fox Interactive Media)战略与企业发展部门执行副总裁杰克•肯尼迪(Jack Kennedy)表示：“在上世纪80年代，南加州地区所有的风险投资都依仗于波音(Boeing)和洛克希德(Lockheed)等公司的防务合同。” 福克斯互动媒体是新闻集团(News Corporation)下属的数字业务公司。
他补充道，与防务相关的投资在上世纪90年代开始衰落，取而代之的是电子游戏公司，最终则是网络公司。“无论是（网上）配送系统、货币化技术，或是内容服务，这些特殊领域都会吸引那些人才涌入到洛杉矶。”
与好莱坞以及娱乐产业的贴近，也有助于吸引到网络初创公司。“身处此地，意味着可以更容易地与各个电影公司做生意。”
总部位于圣莫尼卡的风险投资公司Clearstone Partners的管理合伙人威廉•奎格利(William Quigley)也认为，娱乐业在吸引创业投资方面起到了关键作用。“福克斯(Fox)和迪斯尼(Disney)拥有非常强大的互联网群……带动了大批创投资本。”Clearstone曾投资于总部位于洛矶杉的在线广告网络The Rubicon Project。
MySpace是福克斯互动媒体的一部分，也许是洛杉矶最为人熟知的网群了。“省钱网”(LowerMyBills)、“砍价网”(PriceGrabber)和方登戈 (Fandango)也都设在洛杉矶。方登戈是一家在线电影票务公司，去年被康卡斯特(Comcast)收购。而信贷信息服务公司益百利 (Experian)则在两年前分别以4.85亿美元和3.8亿美元的价格购得“省钱网”和“砍价网”。
奎格利认为，网络公司的收购交易帮助了这个地区。“这些企业家现在或是以天使投资者(angel investor)的身份来资助新单位，或是正在启动新的业务。”
The Rubicon Project是弗兰克•阿丹特(Frank Addante)启动的一系列业务中最新的一项。以前，他曾将电邮发送软件公司StrongMail从洛杉矶转移至旧金山，部分原因是在南加州地区找不到合适的软件工程师。
在感觉洛杉矶已出现一些根本性的转变之后，他又重新回到这个城市，并且还启动了The Rubicon Project。“在过去几年里，南加州的技术产业确已发生变化。它已经形成了更为密切的联系。”
译者/李晖
2014
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