Deal Watch: another cash infusion for MyStrands

| Print |  Email
Archives - February 2008
Friday, February 01, 2008

{safe_alt_text}

CORVALLIS-BASED MyStrands, a developer of social recommendation technology, scooped up another $24 million in early December, bringing its VC war chest to $55 million to date. Spanish bank BBVA led the series B2 funding along with existing investor Debaeque.

The company says it “develops technologies to better understand people’s taste and help them discover new things they like and didn’t know about already.”

Or, put another way by Gabriel Aldamiz-echevarria, MyStrands VP of communications:

“You need to understand what people like and give them tools to control their data. The future is that everything is going to be personalized. It’s the new age of the Internet.”

MyStrands has developed a social recommender engine, which provides real-time personalized recommendations of products and services through computers, mobile phones, and other Internet-connected devices. It takes into account that taste is context sensitive and evolves over time. It also has developed a scalable Personalized Discovery Platform. The company says these two developments have created sales of $12 million during 2007.

“Now we are going to see a shift. Personalization will come with us wherever we go, online and offline,” predicts Aldamiz-echevarria. “The search industry has been here for 30 years, but only Google made us realize that search was relevant. We think the search industry will shift a bit toward helping you not only find things but to guiding you to things you like. People will realize more and more that they can be personal. We are entering the age of the guide.”

Since it was founded in 2003, the company has grown to 97 employees (35 in Corvallis). It also has offices in New York and Barcelona, Spain.

The tech press has reported that the new capital would be used to move beyond the current recommendation service, which is centered on music recommendations, and expand into video, online shopping and other media. So what are the next big ideas?

Aldamiz-echevarria isn’t giving it up.

“We’ve got huge plans,” he says, “but I’m not going to give you specifics.”

ROBIN DOUSSARD

MERGERS AND ACQUISITIONS

ANNOUNCED EXP. CLOSE BUYER / PARENT (HQ) SELLER (HQ) / PARENT PRICE (TERMS)
Dec. 5 ND CEI Acquisition (Portland) Christenson Electric (Portland)/Microfield Group (Portland) $9.65m (cash + debt assumption)
Dec. 5 4Q ‘07 Catcher Holdings (VA) Vivato Networks (Portland) $1.35m (stock for stock)
Dec. 7 4Q ‘07 Gheen Irrigation Works (Eugene) OR & TX manufacturing assets/Lake (Eugene) ND
Dec. 7 1Q ‘08 O’Brien Auto Group (WA) DeLon Auto Center (Salem) ND
Dec. 10 ND Drake Gold Resources (Portland) Wolverine & LC2 - AG prospects (BC) ND
Dec. 13 4Q ‘07 Northwest Pipe (Portland) S Square Tube Products (CO) ND (assets)
Dec. 26 1Q ‘08 I-Flow (CA) AcryMed (Tigard) $25m
Dec. 27 4Q ‘07 Cooper Industries (TX) Sure Power Industries (Tualatin) ND (cash)

REAL ESTATE TRANSACTIONS

ANNOUNCED BUYER / PARENT (HQ) REAL ESTATE (LOCATION) / SELLER (HQ) PRICE
Dec. 5 Jennipher L. Grudzien; Charles M. McGrath office building (Bend)/ Daniel and Tambry Broise Joint Trust $1.4m
Dec. 7 Washington Real Estate Holdings (WA) office building (Portland)/ Port of Portland $29.2m
Dec. 7 Balaclava Holdings/ Belkorp (BC) apartment complexes (Portland)/ Essex Property Trust (CA) $97.5m
Dec. 12 Port of Vancouver (WA) land (WA)/ Alcoa Aluminum and Evergreen Aluminum $49m
Dec. 12 Gee-Aspora II (CA) office properties (Portland)/ Terrell Group Management (Portland) $13.3m
Dec. 12 Loren Ness (WA) Tioga Hotel & Koski Building (Coos Bay)/ Estate of Merlin Wisby $2.63m
Dec. 13 Triple Net Properties (CA) 5 office buildings (Beaverton)/ NNN 2003 Value Fund $5.4b
Dec. 17 undisclosed buyer 141 homes (Portland)/ Buena Vista Custom Homes $65m
Dec. 19 Kailash Ecovillage Cabana Apartments (Portland)/ Jack Barry Zwahlen Family Trust $1.7m
Dec. 20 Port of Portland (Portland) 700-acre industrial site (Portland)/ Reynolds Metals $17.25m
Dec. 21 Ashforth Pacific (Portland) Pacwest Center (Portland)/ Mitsubishi Estate (Japan) $161.5m
Dec. 27 private investment group warehouse (CO)/Nautilus (WA) $6.3m
Dec. 29 Saltzman Properties apartment complex (Bend)/ PTLA Corp $14.25m

CAPITAL RAISING

ANNOUNCED COMPANY (HQ) / LEADERSHIP INVESTOR (HQ) PRICE (TERMS)
Dec. 4 MyStrands (Corvallis) / Francisco J. Martin, CEO BBVA; Debaeque (Spain) $24m (series B-2)
Dec. 12 Provenance Hotels (Portland) / Gordon Sondland, President undisclosed bank $24m (mortgage financing)
Dec. 14 Elemental Technologies (Portland) / Sam Blackma, CEO Oregon Angel Fund; Bend Venture Conference; Seattle Alliance of Angels (OR & WA) $1.05m (seed round)
Dec. 19 AVI BioPharma (Portland) / K. Michael Forrest, CEO institutional investors $20.3m (common stock + warrants)

List researched by Mark Druskoff

Have an opinion? E-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

More Articles

Beyond Bodegas

April 2015
Friday, March 27, 2015
BY JACOB PALMER

Five years in the making, the Portland Mercado — the city’s first Latino public market — will celebrate its grand opening April 11. A $3.5 million public-private partnership spearheaded by Hacienda CDC, the market will house 15 to 20 businesses in the food, retail and service sectors. It has some big-name funders, including the Paul G. Allen Family Foundation and JPMorgan Chase. The project goals are equally ambitious: to improve cross-cultural understanding, alleviate poverty and spur community economic development. 


Read more...

Downtime with the executive director of Greater Portland Inc.

April 2015
Thursday, March 26, 2015

Janet LaBar, Executive director, Greater Portland Inc.


Read more...

Fighting Fire With Fire

May 2015
Friday, April 24, 2015
BY BEN DEJARNETTE | INVESTIGATEWEST

Timber companies and environmental groups take a stab at collaboration to boost logging and restoration in Oregon fires.


Read more...

4 highlights of the MLS labor deal

The Latest
Wednesday, March 04, 2015
timbersthumbBY JACOB PALMER | OB DIGITAL NEWS EDITOR

On Wednesday night, a couple days ahead of the 2015 season kickoff, Major League Soccer and the Players Union reached an agreement.


Read more...

Courtside

April 2015
Thursday, March 26, 2015
BY JACOB PALMER

Power lunching at the Court Street Dairy Lunch in Salem.


Read more...

Power Players

April 2015
Friday, March 27, 2015
BY ROBERT MULLIN

A new energy-sharing agreement sparks concerns about independence and collaboration in the region's utility industry.


Read more...

10 Twitter highlights from #OR100Best

The Latest
Friday, February 27, 2015
100bestBY OB STAFF

Oregon Business held its  22nd annual 100 Best Companies to Work For in Oregon celebration Thursday night in the Oregon Convention Center.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS