Hello, and happy Wednesday morning, everyone!
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Top News in the A.M.
Wow. In 2013, the USPTO granted nine patents for every patent application that was rejected and then abandoned by its applicant. That’s 92 percent, up from 68 percent in 2009, reports Vox.
Mike Abbott of Kleiner Perkins on Snapcat, Box, and the Inherent Danger in High Valuations
has raised $2 million in additional Series A funding led by Rincon Venture Partners. Earlier investor Epic Ventures also participated in the round, along with several individual investors. The company has raised $6.3 million to date, shows Crunchbase.
Convertro, a five-year-old, Santa Monica, Ca.-based that (like Adometry), runs a marketing optimization platform, has been acquired by AOL for $89 million plus up to $10 million in earn-outs. Convertro had raised north of $5 million from MHS Capital,Bessemer Venture Partners, Founder Collective, and DAG Ventures.