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Heather Somerville Heather Somerville (248 Posts)

Heather Somerville is a business reporter covering venture capital and startups for the Bay Area News Group.


Sean Parker gives $24 million to Stanford for allergy research

In his latest philanthropic endeavor, Silicon Valley entrepreneur Sean Parker is giving $24 million of his own money to prop up an allergy research center at Stanford University. Parker, best known perhaps as founding president of Facebook and founder of Napster, the Read More →

Lending Club IPO rises to $1 billion

Lending Club, which went public last week in the largest offering from a California company this year, announced on Tuesday it had sold additional shares to raise its total IPO earnings to just more than $1 billion. The San Francisco-based Read More →

Hortonworks sets IPO share price above range

Hortonworks, one of two big data companies from the Bay Area that will make their public debuts on Wall Street Friday, will raise $96 million in its IPO. The company on Thursday priced shares at $16 each, well above the $12 to Read More →

Lending Club prices shares at $15

On the eve of its highly anticipated Wall Street debut, Lending Club priced shares at $15 each, setting up the company to become the largest IPO of the year from California. San Francisco-based Lending Club, which will start trading Read More →

Zenefits nabs David Sacks, former PayPal and Yammer exec

Zenefits, the one-year-old cloud software startup that is aiming to upend the health insurance business, nabbed longtime tech executive David Sacks to join its top ranks. San Francisco-based Zenefits announced Wednesday that Sacks, the founder of enterprise social networking company Yammer and Read More →

New Relic raises IPO share price, market cap nears $1 billion

It's beginning to look like a very lucrative Christmas for some Bay Area startups planning a holiday IPO. For the second time in as many days, a Silicon Valley tech startup has raised its initial-public-offering price, hoping to take advantage of Read More →

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