Matt Potter 11:51 a.m., Sept. 20
Senturia's News Network Raises $3.18 Million
U.S. Local News Network, parent of San Diego News Network, an online publication, has raised $3.18 million from investors, according to a recent filing with the Securities and Exchange Commission. Proceeds will be used to finance its expansion into other markets. Last September, the company's chief executive, Neil Senturia, announced plans to expand the publication into 40 markets, beginning with Riverside and Orange counties. A board member of the company is Gary E. Jacobs, philanthropist and son of Qualcomm founder Irwin Jacobs. Gary Jacobs worked for Qualcomm until 2000. Among many things, he founded High Tech High in San Diego. Another board member is Ernest H. Pomerantz,, managing director of StoneWater Capital LLC. He is considered an expert in the auto industry. The company, which refuses to reveal its revenue, says it has $335,000 more to raise to reach its offering amount of $3.52 million.