OCBJ WEEKLY EDITION

Energy Boost: Upstart TS Conductor Nabs $25M

Bill Gates backing; manufacturing plant in works

TS Conductor Corp. believes a key technology element of the electricity grid, nearly 100 years old, is more than overdue for an update

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Philanthropy

CureDuchenne and Vintner Chair Bryant Estate hosted its Seventh Annual Napa in Newport Wine Auction on Nov. 6

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RIA Beacon Pointe Gets KKR Investment

CEO Eusey sees growth continuing

Shannon Eusey has built Newport Beach’s Beacon Pointe LLC from a UCLA school paper into the largest female-led registered investment advisory firm in the country

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Vizio Platform+ Spikes On Targeted Ad Demand

Upwards of $110M Projected for Q4

Platform+ revenue surged 134% to $85.9 million in the quarter, with advertising leading the increase via a 271% jump to $66 million

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Streaming Workouts From Xponential Tops 2,700

Fitness Co.’s Xpass Service Available at 1,400+ Studios

Xpass service currently available across more than 1,400 studios in 48 states, with subscriber accounts about doubled from the second quarter

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Gamer's Gateway

Tencent, Pac-Man Parent, Upstart Studios Drawn to Sand Canyon Ave.

Tencent is among the newest tenants at Discovery Park; reaffirms Irvine’s prominent, and growing, role in the gaming industry

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Hydrogen-Focused FirstElement Gets $105M Fill-Up

ENERGY: Aims for 80 California fueling stations by 2024

In the rush for environmentally friendly cars, hydrogen proponents have often been overshadowed by the fanfare over electric vehicles

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OC LEADER BOARD

Paul and Harry

Among the people most instrumental in transforming Chapman University include two great champions of our university: Paul Musco and Harry Rinker

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Eye Care Giant Alcon To Acquire Ivantis for $475M

Microstent sales reach to expand

The transaction will expand Ivantis’ global footprint for sales from six countries to 140

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Apparel Company 5.11 Ready for IPO

RETAIL: Sales topped $400M in ’20; Compass Unit

Potential IPO comes as the company looks to expand beyond core consumer base of military AND first responders to target mainstream users of its cargo and uniform pants

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Rivian Valuation Over $100B; Tops for OC

IPO: $11.9B in proceeds for electric vehicle maker

Company stock subsequently rose as much as 52% in its first day of trading on Wednesday, Nov. 10, before closing up 29% to $100.73

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Medical Software Co. Kareo Adds PatientPop

HEALTHCARE: Reports cite $1B valuation for Tebra

Newly formed combination with marketing company PatientPop will form Tebra, a new all-in-one platform for independent medical practices

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Alteryx Execs Point to Recurring Revenue Growth

Data analytics co. touts $579M ARR, up 29%

Shareholders accepted the ARR strategy story as the stock climbed about 9.2% in the two trading sessions following the third-quarter report

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SecureAuth Buys Acceptto To Boost Cybersecurity

Irvine-Based Firm Promotes Seamless Authentication

SecureAuth has acquired Acceptto to boost cyber protections as more workers go to a hybrid model shifting between home and office

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EV Battery Developer Enevate Adds 2 Execs

Aims for EV Battery Tech Commercialization in ’25

Enevate adds two new members to exec team as it readies for expanded development of fast-charging battery technology for electric vehicles

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Newport Beach’s 1301 Dove Tower Trades for $64M

Alliant Insurance Moving HQ to Irvine Next Year

Ocean West Capital Partners remains on the hunt for local office investments, a month after selling one of its more prominent local towers

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Burnham’s Boulevard: Adds to Westcliff Drive Holdings

Mariners Medical Arts Site Designed by Neutra

Property described as “historically significant” by new owners, noting it was designed by famed master architect Richard Neutra, who worked with Frank Lloyd Wright

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STARTUPS & INNOVATIONS

Turion Space Corp. has signed a multi-launch agreement with New York-based reusable rocket startup iRocket

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Caring Companies Wanted for Second Annual Awards, List

COMMUNITY: Centerpiece of Dec. 13 Special Report

Has your company stepped up and demonstrated support to the community over the past year?

Hyperice Boosts Roster of Athlete Investors

Muscle Therapy Device Co.’s Valuation Nears $1B

While Hyperice’s 2021 revenue remains undisclosed at this point, it’s expected to eclipse a $1 billion valuation this year

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Healthy, Online Orders Drive Record WaBa Sales

OC Restaurant Chain Notches Historic Growth

Celebrating 15 years of business, ending the third quarter with total sales of $43.5 million, up 17.9% from the year-ago period

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‘Pacsun Kids’ Makes Big Push on Social

Digital-First Strategy Builds Biz, Grows Buzz

Pacsun wants to be cool in front of the kids, and it’s nailing its digital-first strategy with a new category

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UCI Takes Over as Largest Orange County Employer

Govt, Retail, Health Dominate as Disney Slips

Surpassing Disney, UCI took over the top spot on the Business Journal’s annual list of the largest OC employers by growing 2.6% to 26,182

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Don’t Believe Cooling Market Rumors, Reports Say

OC Still an ‘Extremely Hot Seller’s Market’

Last month, 13 homes sold above the $10 million mark for a total sales volume of $189.5 million

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STARTUPS & INNOVATIONS

Huckleberry Labs raised $12.5 million in a Series A round led by Morningside Ventures alongside Spero Ventures and Tamarisc VC

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Pacific Dental Offers Workers Paid College Tuition

‘Entering War’ Against Big Employers for Talent

The College Advancement Program made possible in partnership with flexible education program provider InStride and Arizona State University

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Taco Bell’s Go Mobile Restaurants Expanding

Tech Helps Expedite Order, Delivery Times

Go Mobile focuses on smaller real estate footprint, two drive-thru lanes, employee Bellhops and mobile pickup shelves in restaurants

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Chipotle Goes Meta With Roblox Restaurant

Growing Roster of OC Brands on Game Platform

Despite a widespread outage on Roblox that began on Oct. 28, the restaurant racked more than 8,300 likes

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Philanthropy

Pacific Symphony’s 43rd season began Sept. 30 with an Opening Night Celebration

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Top Shopping Centers Plot Expansion, New Additions

South Coast Brings In $1.6B in Taxable Sales

Many shopping centers are projecting record growth in holiday retail sales this year despite supply chain issues

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New Museum Prepares for Center Stage

CEO Zuckerman Shines Lights on 2022 Opening

Museum noted for major holdings of California-centric art, opened in 1962 as the Balboa Pavilion Gallery, created by 13 local women

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OCBJ INSIDER

The Sound of Music

The Pacific Chorale, Orange County’s premier choir, gave its first live performance in over 600 days when it appeared Oct. 30 at the Renée and Henry Segerstrom Concert Hall

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Tiffany Ketterer-Buchanan: Cybersecurity Giant SVP

CrowdStrike finance exec leads from Irvine base

Ketterer-Buchanan, who works out of CrowdStrike’s local offices, was honored with a Business Journal Women in Business Award late last month

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Rivian Expects $60B+ Valuation for IPO

Listing expected shortly; few deliveries

Rivian disclosed in a regulatory filing late last week an expected per share price range of $72 to $74 in its highly anticipated initial public offering

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Agendia Files For $75 Million IPO

Genomic breast cancer test company

Agendia is the second Irvine cancer testing company with ties to Europe in recent weeks to seek an IPO; MDxHealth launched last week

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Sunstone’s Wine Trip Approaches $440M

Nears 2nd Napa-area acquisition

Sunstone Hotel Investors is back on the acquisition track in a big way and is paying top dollar in the process

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Dawn Maroney: Finding Niche ‘Serving the Senior’

Alignment exec boosts services for elderly

Since Maroney joined Alignment, she has pioneered several initiatives to better serve seniors

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