DailyDose: Apple’s pinch-to-zoom patent invalidated by USPTO

Now, invest on startups online with AngelList angel

Startups can now receive investments online. Individuals can invest as little as $1K and the funds are released once the company reaches $150K in commitments. This feature is currently in limited release, said the folks at AngelList on Thursday. They have partnered with SecondMarket, a registered broker-dealer, to offer these transactions in compliance with securities laws. [Source]

Apple’s pinch-to-zoom patent invalidated by USPTO

USPTO has issued a first “Office action” stating that patents claims were unpatentable. Here are the details:
Pinch to Zoom Patent Invalidated

Over 1,000 seed funded US startups to be orphaned

According to a new study in the US, more than 1,000 Seed-Funded Startups Are Destined To Be ‘Orphaned’ At The Series A Stage. venture capital analysis firm CB Insights released a new seed financing report and it says that between 1,000 to 4,000 recently-funded companies that have raised in excess of $1 billion in total at the seed stage will be “orphaned,” as in unable to raise follow-on financing, at the next level.  Looking back, CB found that around 40 percent of seed-funded startups fail to attract Series A money.[Source]

Kodak to Sell Digital Imaging Patents for $525 Million

Eastman Kodak once described the sale of 1,100 digital imaging patents as a windfall that could prop up and even save the beleaguered company. On Wednesday, the sale was finally announced, but instead of bringing as much as $2.6 billion as Kodak once predicted, the selling price was far short of that amount, at about $525 million. The buyer was a consortium that includes many of the world’s biggest technology firms, among them Apple, Google, Facebook and Samsung Electronics. [Source]
An Inquiry Into Data Brokers

It’s getting tougher to be a data broker. Companies that collect, analyze and sell billions of details about the activities of consumers for marketing purposes have increasingly found themselves under government scrutiny this year. The latest salvo comes from the Federal Trade Commission, which said on Tuesday that it had opened an inquiry into the practices of nine companies that collect and resell or analyze consumer data. [Source]

Why Keep Venture Funding Secret

Announcing how much money you’ve raised is typically considered good startup hygiene. Chest-beating about big numbers brings attention, especially from prospective hires looking for a cash-rich company to work for. Not so, said Matthew Prince, the chief executive officer of CloudFlare, which sells Internet security and infrastructure services. Providing a view into his company’s bank account could lead to threats of litigation and takeovers, he said in an interview at Bloomberg’s San Francisco office last week. And raising venture capital is not something to be proud of, he added. [Source]

Accenture’s second-quarter forecast disappoints investors

Accenture Plc’s second-quarter forecast disappointed investors as the outsourcing and consulting company’s clients deferred discretionary spending in Europe, sending its shares down 5 percent in after-market trade. Accenture forecast second-quarter revenue of between $6.9 billion and $7.15 billion. Analysts on average had estimated $7.14 billion. During the just-concluded first quarter, revenue from Europe, Middle East and Africa (EMEA) fell 6 percent to $2.82 billion, the company said. EMEA accounted for nearly 41 percent of Accenture’s revenue last fiscal. [Source]