iVLG News Roundup Week 5 2014: Washington State Advances Crowdfunding; Microsoft CEO Search Nearing End; Bay Area’s Tough Week
States, Including Washington, Take the Lead on Equity Crowdfunding through Intrastate Offerings
It has been widely reported that states are taking the lead on advancing legislation that gives startups access to capital through equity crowd funding. And this week Washington state joined the leaders as the crowdfunding exemption bill HB 2023 advanced through the Washington state house of representatives. The bill is designed to provide an intrastate exemption to Washington’s rules for certain smaller deals, which would allow some of the promise of Title III of the Jobs Act to be realized for intrastate offerings. The bill must still move through the senate, and if it does, Washington would join Wisconsin, Georgia, and Kansas in passing crowdfunding legislation.
Microsoft to Name New CEO
Microsoft announced that it will meet this weekend to decide on who to name as CEO of the computing giant. Apparently, Satya Nadella, who currently heads Microsoft’s enterprise division, is the candidate who will most likely replace long-time CEO Steve Ballmer when he steps down later this year. The announcement may be delayed until the middle of next week because the Seattle-based company’s board of directors needs to make time Sunday to cheer on the ‘Hawks in the Super Bowl.
Google and the Bay Area’s Tough Week
Watching their NFC West rivals relish their spot in the Super Bowl isn’t the only thing paining Bay Area residents this week. Indeed, Google had a tough week, with news coming that it had lost a patent dispute to “troll” Vringo, who had purchased the patents from search engine Lycos. The adwords-related judgment could be worth more than $200 million annually from 2012 through 2016 for the publicly traded Vringo, though Google has said it will appeal. Google also announced it was selling Motorola Mobility, the hardware arm of Motorola it acquired less than 2 years ago, to Lenovo for $2.9 billion. Google paid $12.5 billion for the company, and though it retained some patents in the sale, it is believed to be “one of the worst investments in Google’s history.”
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