Local Company Hits and Misses
A look back at our 3-year series on emerging companies in the Sacramento region; meet the winners; the mergers and those stuck in the gate
From December 2007
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This 24-employee firm, which splits its work force between technical development in El Dorado Hills and sales and executive offices in San Francisco, has moved its focus beyond its "SpotLock" data-encryption security technology and database of "hot spot" locations. In July 2006, it announced the JiWire Hotspot Advertising Network, with Toshiba and Sony as the first advertisers and nine wireless internet service providers as participants. "Our business has really taken off as a result of the shift in direction," David Blumenfeld, marketing vice president, says. "This is now a majority of our business." JiWire currently works with 32 WiFi networks. JiWire recently linked up with Microsoft to sell ads supporting free municipal WiFi connections in Portland, Ore., and Oakland County, Mich. It also launched a version of its WiFi Finder optimized for Apple iPhone users.
MaxPreps Inc.
A touchdown on the business playing field? In March, CBS Corp. bought this online network for national high school sports for $43 million. Founder, president and CEO Andy Beal continues to operate the Cameron Park company, which became part of CBS' college sports television team. MaxPreps.com reportedly provides information on nearly 80,000 high school football games and more than 500,000 boys and girls basketball games played each year. MaxPreps had 37 employees at the time of acquisition.
Placer Sierra Bancshares (Nasdaq: PLSB)
In January 2007, Wells Fargo announced an agreement to acquire the Sacramento area's largest locally based bank, the holding company for Placer Sierra Bank and also Sacramento Commercial Bank, Bank of Orange County, Bank of Lodi and Southwest Community Bank. The all-stock deal was valued around $645 million. The previous year had brought bad news for Placer Sierra Bancshares. In November, the bank announced that its largest depositor, identified only as a nationwide mortgage servicer, planned to consolidate operations at its Midwest headquarters and withdraw all balances before June 2006. Bank officials denied that was the reason for the sale. The holding company encompassed 32 branches in Northern California and 18 in Southern California, employed more than 600 people and had assets of $2.6 billion.
TriCo Bancshares (Nasdaq: TCBK):
Continued...
MaxPreps Inc.
A touchdown on the business playing field? In March, CBS Corp. bought this online network for national high school sports for $43 million. Founder, president and CEO Andy Beal continues to operate the Cameron Park company, which became part of CBS' college sports television team. MaxPreps.com reportedly provides information on nearly 80,000 high school football games and more than 500,000 boys and girls basketball games played each year. MaxPreps had 37 employees at the time of acquisition.
Placer Sierra Bancshares (Nasdaq: PLSB)
In January 2007, Wells Fargo announced an agreement to acquire the Sacramento area's largest locally based bank, the holding company for Placer Sierra Bank and also Sacramento Commercial Bank, Bank of Orange County, Bank of Lodi and Southwest Community Bank. The all-stock deal was valued around $645 million. The previous year had brought bad news for Placer Sierra Bancshares. In November, the bank announced that its largest depositor, identified only as a nationwide mortgage servicer, planned to consolidate operations at its Midwest headquarters and withdraw all balances before June 2006. Bank officials denied that was the reason for the sale. The holding company encompassed 32 branches in Northern California and 18 in Southern California, employed more than 600 people and had assets of $2.6 billion.
TriCo Bancshares (Nasdaq: TCBK):
Continued...
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Community Comments
December 18, 2007