Rapt, Accel & Levensohn settle with co-founders in ten days
Just ten days after two co-founders of San Francisco pricing software company Rapt sued its venture backers, the case has been settled.
We thought it would be quick (see our original story here), because high-profile venture firm Accel Partners, and another valley firm, Levensohn Venture Partners, likely wanted to get it over with. But terms of the settlement were undisclosed, according to PE Week, which covered the suit and first reported the settlement Friday.
The two co-founders… Continue Reading
Musk leads $10M investment in SolarCity — to provide solar for all
Updated
SolarCity, a new Silicon Valley start-up wants to be the Swiss arms-dealer of the solar industry, and has just raised $10 million to do it.
It wants to provide solar installation for individuals and small companies — by acting as an honest, neutral broker, and giving them the best, most affordable technology available.
SolarCity, of Foster City, is the latest start-up backed by serial entrepreneur and former PayPal co-founder, Elon Musk. Musk, who recently led an investment… Continue Reading
Rapt co-founders sue Accel & Levensohn for playing hardball
Two co-founders of Rapt have sued the company’s chief executive and venture capital backers, Accel Partners and Levensohn Venture Partners for breach of fiduciary duty and fraud.
Rapt is a San Francisco company that provides software to help companies find the right price for their goods to maximize profits.
It is another one of those stories we are getting familiar with in the valley — where start-up founders get washed out of their ownership holdings, while venture… Continue Reading