Category: San Antonio (Page 5 of 62)

Five Events to Attend in San Antonio This Week

TUESDAY – The Future of Work Panel discussion at Geekdom put on by Freelance Conference. The panel discussion kicks off at 3 p.m. and runs until 4:30 p.m. at the Geekdom Events Centre at 131 Soledad Street, San Antonio. Register here.

WEDNESDAY – Second Annual Coding Challenge Luau starting at 6:30 p.m. at the Geekdom Events Centre at 131 Soledad Stree, San Antonio, TX. The event features five coding challenges with two divisions for amateurs and professionals. Prizes will be awarded. Register here.

THURSDAY – Tech Talent Texas: Code & Effect at 6 p.m. at the Geekdom events center at 131 Soledad Street, San Antonio. The event focuses on programming and software development. Kay Jones, CEO of Codeup and Luke Filipos, CEO of Austin Coding Academy, will share their knowledge with the community. Register here.

FRIDAY – Fermented Friday Sponsored by San Antonio Angel Network and Alamo Beer. The event kicks off at 4 p.m. at Geekdom and is a great way to start the weekend.

SATURDAY BlogItSA Four kicks off at 10 a.m. and runs until 3 p.m. at the Geekdom Events Centre at 131 Soledad Street, San Antonio, TX. The event is a day-long blogging conference. It’s the fourth time it’s been held at Geekdom. This event is sponsored by Geekdom, San Antonio’s collaborative coworking space, WebTegrity, which builds remarkable WordPress websites, San Antonio Charter Moms, Steven R. Nivins Ph.D. Economic Research and Consulting and Silicon Hills NewsGet a ticket here.

Investor and Entrepreneur Michael Girdley Featured on Ideas to Invoices Podcast

Michael Girdley, managing director of the Geekdom Fund, courtesy photo.

Michael Girdley, an entrepreneur, and investor, is one of the people actively working to establish San Antonio as a technology hub.

Girdley, who earned a computer science degree with honors from Lafayette College, worked as a programmer in Silicon Valley. He is also the author of several books on Java programming with a focus on web applications.

Fifteen yearas ago, Girdley moved back to San Antonio, his hometown, because his wife wanted to live in the sunbelt.

“We liked how easy life is in San Antonio,” Girdley said. “The slowness of San Antonio sometimes has a big benefit which is it’s really easy to live a really nice life here.”

San Antonio’s leaders have worked hard to develop its downtown area and foster the presence of established tech companies like USAA along with startups like Codeup, Parlevel, Merge Virtual Reality, Filestack, Help Social, Infocyte and more.

San Antonio is a tech hub in progress. And Graham Weston, former chairman and co-founder of Rackspace, has played a huge part in that, Girdley said. Weston co-founded Geekdom, a collaborative coworking space for tech startups, with Nick Longo.

Weston realized that if you want to transform a city into a startup city, it must be led by the entrepreneurs, Girdley said.

Before becoming immersed in the tech scene, Girdley served as the CEO of his family business Alamo Fireworks. Today, he is the Chairman of Codeup, a coding bootcamp company he cofounded. And Girdley is a venture capitalist and the managing director of the $20 million Geekdom Fund and a partner at RealCo, a seed fund program.

Girdley’s entrepreneurial skills reach back to when he was a teenager working at Alamo Fireworks, which leases stands to contractors and sells fireworks. As a 16-year-old, Girdley was the CEO of his own fireworks stand and had to deal with customers, employees, inventory, sales, and more.

“Fireworks is an amazing training ground for business,” Girdley said.

He also learned how to sell to people – a skill which he says is essential for technology entrepreneurs.

Fireworks is still a business that hasn’t been disrupted by the online world because of government regulations regarding explosives. But the industry is being disrupted by laser light shows and drones and other ways to deliver entertainment to consumers, Girdley said.

At Geekdom, Girdley co-founded Codeup in 2013 with Jason Straughan and Chris Taylor to train people through a bootcamp on how to be programmers. More than 500 students have gone through the program and the placement rate for people getting a better job is in the 90 percentile, the job placement as software programmers is in the 70 percent range, Girdley said.

“We’re not an education company, we’re a life change company,” Girdley said.

One of Girdley’s favorite Codeup success stories involves a coffee barista that worked nearby Codeup’s offices downtown. He ended up joining the program. He graduated and now he’s got a six-figure job at a San Antonio corporation, Girdley said.

San Antonio’s ecosystem has grown dramatically since Geekdom’s launch in 2011. Today, the city is home to the San Antonio Angel Network, the $20 million Geekdom fund, Geekdom, Realco, and dozens of startups. It also was home to Techstars Cloud.

“We have all of these winds of change that I think are blowing in San Antonio’s favor,” Girdley said.

San Antonio is also part of a mega-region rather than separate cities, Girdley said. Austin and San Antonio are working more closely together. Girdley is also spending time in Houston and Dallas looking for investments for the Geekdom Fund.

“I’m looking less at San Antonio versus the world,” Girdley said. “Or Austin versus the world. Or Houston versus the world. And more about how do we leverage all the magic happening in this state and all the resources we do have at our disposal.”

Autonomous buses and cars will solve Texas’ transportation woes, Girdley said. He’s more concerned about the state’s education spending. The state ranks near the bottom of all the nation’s states when it comes to education performance and spending on the K-12 level.

“The underinvestment we’re making in public education in this state is a travesty,” Girdley said.

San Antonio has the CAST High School, a magnet school for tech skills, coming online in the Fall and there are other magnet schools aimed at targeted skills such as healthcare, aerospace and Science, Technology, Engineering, and Math. Yet more needs to be done to improve public school education statewide, Girdley said. Texas is importing a lot of talented workers from other states to fill critical jobs here, he said. It needs a better pipeline to create its own educated workforce, he said.

Recently, the Geekdom Fund announced it had raised $20 million to primarily invest in early-stage business to business Internet companies nationwide, with a focus on Texas, Girdley said.

“Texas is chronically underfunded,” he said. “There is not enough funding for the activity going on here.”

Geekdom Fund does one investment deal a year, but it examines eight to ten closely and it will have looked at up to 800 companies, Girdley said. The best way to approach the fund for investment is through a warm introduction from a trusted source, Girdley said.

Girdley is also involved with San Antonio’s Realco, a seed fund program based at Geekdom, that is currently accepting applications.

For more, listen to the full podcast:

Geekdom Fund Raises $20 Million for Seed Stage Tech Investments

The Geekdom Fund, based in San Antonio, announced this week it has closed on a $20 million fund, its largest fund to date.

Previously, the Geekdom Fund raised nearly $3 million to invest in early stage tech startups. Since then, the fund has invested in Chowbotics, a Redwood City, Calif.-based startup creating robots for commercial food preparation. It also invested in Dauber, a San Antonio-based startup that is creating a marketplace of construction materials by installing a software and hardware system in trucking fleets and Tenfold, an Austin-based startup that creates customer relationship management software and s to connect their phone systems with their CRMs. The startup was part of Techstars Cloud in San Antonio and recently raised a Series A led by Andressen Horowitz.

The Geekdom Fund also invested in RealCo, a San Antonio-based seed fund 15 months long program focused on early stage startups. And it has invested in Sea Machines, a startup that builds autonomous navigation systems for boats and ships, based in Boston,

“We’re excited to continue the momentum from the success of our first Geekdom Fund,” Michael Girdley, Managing Director, said in a news release.

“Geekdom Fund is the largest tech seed venture capital fund raised in San Antonio history,” according to a news release.

Hulu to Open a $13 Million Center in San Antonio with 500 Jobs

Hulu, the online video streaming platform, announced Thursday plans to open a new customer support center in San Antonio and invest $13 million in the project.

The Santa Monica, Calif.-based company plans to bring more than 300 jobs to San Antonio this year and plans to expand to more than 500 jobs in 2018, according to a news release.

Hulu, a privately-held video streaming service with 12 million subscribers and
1,600 employees, is receiving a Texas Enterprise Fund grant offer of $1.24 million, according to a press release.

In addition, next Thursday, the San Antonio City Council will vote on additional incentives for Hulu’s center at 4511 Horizon Hill. The city is proposing a 100 percent tax abatement on the property for six years and nomination of the Hulu project as a Texas Enterprise Zone project, according to the city’s agenda.

Hulu is in final lease negotiations on the building. Hulu is calling the center a “Viewer Experience Operations headquarters.” It will include customer support operations and service and network operations in support of Hulu’s technology platform.

“With its vibrant culture and large and diverse talent pool, we’re incredibly excited to partner with the city to make San Antonio home to our viewer experience operations,” Ben Smith, Head of Experience at Hulu said in a news release.

“With the opening of Hulu’s new viewer experience operations headquarters, Texas not only benefits from the addition of new jobs, but also the confidence that fast-growing companies bring with them when they select the Lone Star State as the best place for their investments,” Governor Greg Abbott said in a news release.

A delegation from San Antonio visited Los Angeles a few weeks ago to court Hulu and its new center. San Antonio was competing against Albuquerque, New Mexico for the project.

“As a leader in the tech industry, Hulu’s decision to grow here is a testament to our City’s growing tech industry and our skilled and talented workforce, which were both heavily emphasized during our visit with the company’s leadership,” San Antonio Mayor Ivy R. Taylor said in a news release.

Hulu’s center will open later this year.

Hulu, founded in 2007, also has offices in New York, Chicago, Seattle and Beijing.

TaskUs Expands to San Antonio and Plans to Hire 500 Employees

Jaspar Weir, co-founder of TaskUs, courtesy photo.

TaskUs, based in Santa Monica, Calif., announced plans to expand its San Antonio office to accommodate up to 500 employees.

The company, which provides outsourced customer service jobs for companies, has leased two floors or 32,000 square feet in the Finesilver Building, an old uniform factory. The company has 60 employees in San Antonio right now.

TaskUs is working with San Antonio-based CBI Group to create a “high energy, whimsical, fun” office geared to its millennial workforce and customer base. Its clients include Hootsuite, Eventbrite, Sparefoot and others.

The company provides employee perks that include coffee, snacks, a napping room, on-site massage therapist visits and a playroom. It’s also building an on-site gym.

“Our priority is to create a place where our customer service team smiles on their way to work and to demonstrate every day that they are valued,” TaskUs CEO Bryce Maddock said in a statement. “We have as much fun as possible while still servicing our clients with top notch quality and satisfaction scores. Working hard and having fun is what we do.”

San Antonio’s “proximity to Austin, its huge young and educated workforce and its reputation as one of the “friendliest” cities in the U.S. make it the perfect place for TaskUs to grow its team,” according to a news release.

TaskUs’ move into Texas included the two founders, Maddock, the company’s CEO, and Jaspar Weir, the company’s president, who now reside in Austin. The company also just opened a sales office in Dallas.

San Antonio-based Harland Clarke Acquires RetailMeNot for $630 million

San Antonio-based Harland Clarke announced Monday it has acquired RetailMeNot for $11.60 per share or approximately $630 million.

Harland Clarke, a payment solutions and marketing services company, is a wholly owned subsidiary of MacAndrews & Forbes Inc., which is owned by Chairman and Chief Executive Officer Ronald O. Perelman, a billionaire.

In 2013, Harland Clarke bought Valassis Communications, a marketing company that distributes coupons and newspaper inserts, based in Livonia, Michigan, for $1.84 billion.

RetailMeNot, the world’s largest coupon site, has 527 employees, primarily in Austin, but it also has offices in Hoboken, Phoenix and international offices. The company will remain based in Austin and Cotter Cunningham, its founder, will continue on as Chief Executive Officer, according to a spokeswoman.

The combined company creates a large multi-channel media network with tens of thousands of advertisers, reaching millions of consumers worldwide. RetailMeNot, a marketplace that helps retailers and brands connect with shoppers, features more than 600,000 coupons and offers for 70,000 retailers.

Harland Clarke is paying a premium of about 50 percent over the closing share price of RetailMeNot’s common stock on April 7th and approximately 36 percent over the average closing share price for the 60 calendar days ended April 7th, according a news release.

RetailMeNot’s board of directors has unanimously approved the deal. The transaction is expected to close in the second quarter,

“RetailMeNot provides a new global digital channel to distribute our clients’ offers that perfectly complements Valassis’ current digital, mobile, mail and other print networks. RetailMeNot’s capabilities span multiple platforms and channels including web, mobile and app, delivering online coupons and sales, discounted gift cards, and cash back offers, along with food, dining and travel offers,” Victor Nichols, CEO of Harland Clarke, said in a news release.

“This is an exciting and important milestone for RetailMeNot,” Cunningham, CEO and founder of RetailMeNot, said in a news release. “Not only are we delivering an immediate and significant cash premium to our stockholders, but we are also meaningfully advancing our goal of becoming a leading savings destination for consumers.”

Cunningham founded RetailMeNot, the world’s largest online coupon and deals marketplace, in 2009. The company raised approximately $300 million from investors including Austin Ventures, Norwest Venture Partners, Adams Street Partners, Institutional Venture Partners, JP Morgan and Google Ventures.

In 2013, RetailMeNot began trading on the NASDAQ market raising $191 million during its initial public offering with its stock trading at $27.70 a share, according to Bloomberg.

RetailMeNot’s stock closed at $7.75 a share on Monday and it has since surged to $11.55, up 49 percent in after hours trading.

RetailMeNot started out in Austin as WhaleShark Media and changed its name in 2013 after acquiring RetailMeNot.com, an Australian-based coupon site founded in 2006.

Cunningham largely grew RetailMeNot into the world’s largest coupon and deal offer site through a series of global acquisitions. The company acquired eConversions, based in London, VoucherCodes.co.uk, based in the United Kingdom, Gutschein-Codes.de in Germany, ActiePagina.nl in the Netherlands and Ma-Reduc.com and Poulpeo.com in France.

RetailMeNot also bought ZenDeals.com in 2013 and Giftcard Zen, a secondary gift card market in 2016.

San Antonio is Promoting SATX at SXSW for 2017

San Antonio is the seventh largest city in the country and is home to giant companies like Rackspace, USAA, HEB, Valero and the Argo Group.

But three years ago, San Antonio didn’t even have a booth at the trade show at South by Southwest Interactive, the largest technology show in Texas.

A lot has changed since then. Last year, San Antonio made a big splash at South by thanks to a nonprofit group called Choose SA. It created the first ever SATX at SXSW, which involved renting out a bar on sixth street and hosting panels and parties and also putting a booth up at the convention center at the trade show.

This year, Choose SA plans an even bigger presence at SXSW. They’ll have T-shirts and temporary tattoos. And Choose SA even got VIA, the metropolitan bus company, to sponsor daily bus rides to the show from the Burleson Yard located, on of all things, Austin street. And it’s got a mobile phone app with all of the activities listed featuring San Antonio at the show.

This year, Casa San Antonio will be hosted in a different part of Austin. It’s at Half Step, a bar on Rainey Street. That is where a whole host of panels will be held. It’s also the site of a special panel on “How Data and Machine Learning/AI Affect Risk Transfer in the 21st Century” put on by the Argo Group, an international insurance firm, based in San Antonio. Argo Digital is hosting the panel and a party starting at 5 p.m. on Sunday at Casa San Antonio at the Half Step. (Full disclosure: Argo is advertising with Silicon Hills News)

Choose SA has a list of all the speakers and panels at its website. It also has a list of special events like a breakfast taco showcase on Friday and a Life is Better in Texas party at the Old School Bar and Grill on Saturday.

True Wealth Ventures’ $20 Million Fund Invests in Women-run Startups

Austin’s Kerry Rupp and Sara Brand with True Wealth Ventures, seek to invest in women-run startups with a new $20 million fund. Photo by John Davidson.

By LAURA LOREK
Publisher and Senior Reporter with Silicon Hills News

Women run startups outperform all male teams yet they still struggle to get venture capital.

That’s a problem Sara Brand and Kerry Rupp, with True Wealth Ventures, are seeking to solve. They are raising a $20 million venture capital fund focused on investing in women led companies in the sustainable consumer and consumer health industries.

“It’s not a feminist manifesto, it’s a real thesis we have here,” Brand said. She spoke last week along with Rupp to a group of mostly women at RealCo, a new technology accelerator at Geekdom, during the second annual San Antonio Startup Week.

San Antonio is the number one place for women entrepreneurs out of 100 U.S. metropolitan cities to start a business, according to the 2015 State of Women Owned Business Report, commissioned by American Express.

And 22 percent of all women run businesses in San Antonio have revenue of more than $1.6 million, Rupp said. Overall, Texas is number two in the nation for fastest growth in women owned businesses, she said.

Brand, who has a bachelor’s degree, master’s degree and a doctorate degree in mechanical engineering, also founded (512) Brewing Company, a microbrewery in Austin, with her husband. She has worked in venture capital, management consulting and semiconductors.

Despite evidence in recent studies showing companies with women in leadership positions outperformed all male led companies, the numbers have not increased, Brand said. A McKinsey & Company study found large public companies with women in leadership positions saw a 41 percent return on equity and 56 percent return on operations.

Yet only 4.2 percent of Fortune 500 CEOs are women and only 14.6 percent of executive officer positions are held by women, Brand said. And only 16.9 percent of corporate board seats of Fortune 500 companies are filled by women, Brand said.

Still, greater than half of all small businesses today are started by women and they experience faster revenue growth, Brand said.

Despite all the statistics showing women leaders are an asset to companies, it’s still difficult for women to get venture financing. And that hinders innovation because VC money can help a company grow faster and bigger and create more jobs.

Part of the problem is that few VCs have women in decision making positions. Only four percent of women are partners in a VC firm and less than one percent of those are making investment decisions, Brand said.

“VC firms with women partners are twice as likely to invest in a company with a woman in management and three times as likely to invest when the woman is the CEO,” she said. “When women invest in women it has a huge benefit.”

Women led startups have 32 percent greater chance of an exit when fueled by women VCs, according to a Harvard Business Study.

“We saw that there was a gap in the funding opportunity for investing in women,” Rupp said. “We decided if they are not going to do it, why not us.”

Rupp previously served as CEO of DreamIt Ventures and raised a $20 million fund and helped to launch more than 150 companies. She’s also been an entrepreneur.

Women are outperforming men because they have strong leadership, communication and innovation skills, Rupp said.

Yet 85 percent of VC-backed companies don’t have a woman on their teams, Rupp said.

“Our thesis is about diversity,” Rupp said. “Diverse teams perform better across the board….You don’t want to have a group with all women either.”

When women start businesses, they often look for alternative funding. They use their savings, their retirement accounts and some turn to crowdfunding. On Kickstarter, 35 percent of total funding goes to companies with a women CEO, Rupp said.

The reason a lot of female run companies don’t land venture capital has to do with an unconscious bias in society, Rupp said. A Harvard Business School study in 2014 revealed “that investors prefer pitches from male entrepreneurs over those from female entrepreneurs, even when the content of the pitches is identical. And handsome men fare best of all.”

But True Wealth Venture Partners is not going to invest in women-run companies, just to invest in women-run companies. It is looking for companies with a female founder or a female member of the management team that have a great business plan and can scale the company and provide ten times return to investors, Rupp said. They are looking for companies that are going to have a $100 million exit within five years, she said.

Overall, with the fund will invest in 12 companies during the next four years with initial investments ranging from $250,000 to $500,000.

So far, True Wealth Ventures has looked at more than 200 companies and has invested in one: UnaliWear, a smart watch for seniors created by Jean Anne Booth, a serial entrepreneur, in Austin. She sold her previous startups to Texas Instruments and Apple.

“At the end of the day we’re still going to choose companies the way any other VCs chooses companies,” Rupp said. “Team is still the number one thing everyone looks at.”

FileStack Releases Redesigned File Picker Product and Finds Success in San Antonio

In 2015, Filestack moved to San Antonio from San Francisco.

The startup, founded in 2012 by four MIT students and a graduate of the Y Combinator program, raised $1.8 million in seed stage capital from Andreessen Horowitz, Highland Capital and SV Angel. It also received additional funding from Xenon Ventures.

The company grew quickly and became the number one developer tool for file uploads with more than 100 million files uploaded by 2014.

But the company ran into some difficulties and the founders wanted out, said Pat Matthews, who runs the company now as Chief Executive Officer.

In 2015, Scaleworks, a San Antonio-based company run by Lew Moorman, former Rackspace executive, bought Filepicker, the company’s former name and rebranded it to Filestack. He also brought on Matthews, a former Rackspace executive and co-founder of Webmail.us, which Rackspace acquired. Matthews had left Rackspace and served as a mentor and angel investor to Austin and San Antonio startups.

Since taking over as the leader at Filestack, the company has grown even more. It recently reached the milestone of achieving $250,000 a month in revenue for projected annual revenue of $3 million this year, Matthews said.

“We have really accelerated the growth of the business.,” Matthews said. “We’ve really doubled the business in the last 15 months.”

The company is based in downtown San Antonio at 118 Broadway. It has 20 employees locally and a team of 10 employees in Krakow, Poland.

“In a nutshell, we rebranded, renamed, relaunched the company,” Matthews said. “We’ve made it a lot more relevant in the industry.”

Filestack’s customers are software developers. The company creates software that allows developers to integrate file uploading capabilities into whatever software application they are building. More than 50,000 developers use Filestack including companies like Virgin, Zenefits, Buzzfeed and Class Dojo.

Today when software developers build new products they try to find ubiquitous tools that they can just pull into their product and not have to build from scratch, Matthews said. For example, software developers often use Strike or PayPal when they need to accept payments from a customer in an application or Twilio for SMS messaging capabilities. To create file embedding technologies into a mobile app, developers often turn to Filestack, Matthews said.

Filestack can transform images, video, documents and bring Instagram like capabilities to every app or website, Matthews said. It has many applications like human resources software that allows everyone in a company to upload a profile picture, he said.

Other big applications for the technology is in the education space, Matthews said. The Filestack technology gives teachers the ability to upload PowerPoint decks in a mobile education app.

“Developers don’t want to spend time on creating new uploading technologies,” Matthews said.

Filestack works as a software as a service business with plans ranging from free to $299 a month. The company also just announced a $4999 a month plan with unlimited uploads and standard image and document transformations.

On Wednesday, Filestack announced the release of its completely redesigned embeddable file picker. Its new features include “accelerated uploads for large files, uploads optimized for unreliable mobile connections that are capable of resuming upload where they were cut off, enhanced image recognition services, and a new unlimited upload plan for high volume customers,” according to a news release.

The new features of Filestack’s API help developers deal with the huge growth of user generated content, Matthews said. Filestack also connects to more than 25 social networks and cloud drives including Facebook, Instagram, Box, Dropbox and Amazon.

Second Annual San Antonio Startup Week Kicks Off

The second annual San Antonio Startup Week is taking place this week at various venues downtown.

Events run Monday through Friday at the annual event which features sessions geared to entrepreneurs and early-stage companies. This year, Geekdom, USAA and Trinity University are sponsoring San Antonio Startup Week.

A full schedule of events can be found on the San Antonio Startup Week website.

San Antonio Startup Week features presentations, panels, workshops and events hosted at Geekdom and other sites around town. On Wednesday morning at Paramour, Kerry Rupp and Sara Brand, founders of True Wealth Ventures, an Austin-based venture capital firm focused on investing in women entrepreneurs in Texas, will give a presentation on Women Investors and Women Entrepreneurs and their performance records. They are also speaking about empowering women entrepreneurs at a 1:30 p.m. to 2:30 p.m. session at Geekdom.

And Lorenzo Gomez, CEO of Geekdom, is giving two talks. One on Tuesday about storytelling at 1:30 at Geekdom and another on owning your category at noon on Thursday at Geekdom.

There’s also the RealCo Accelerator launch party Wednesday evening at Geekdom. RealCo is a 15 month long accelerator program focused on tech startups that cater to businesses.

And Thursday at Burleson Beer Yard, there’s closing remarks and a talk with Graham Weston, cofounder of Rackspace and Steve Cunningham, CEO of Readitfor.me.

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