Silicon Beach Report Nov. 11: Hyperloop One Settles Employee LawsuitFriday, November 18, 2016
Hyperloop One settles employee lawsuit, Tastemade has 20 million monthly views on Instagram Stories, real estate loan platform Peer Street raises $15 million, and healthcare information site Renew raises $3 million.
Hyperloop One Settles Employee Lawsuit
Hyperloop One has settled a breach of fiduciary lawsuit brought by its former chief technology officer and co-founder Brogan BamBrogan as well as three other employees, reports the L.A. Business Journal. In a complaint filed July in Los Angeles Superior Court, BamBrogan claimed that after he was critical of Hyperloop One Board Chairman Shervin Pishevar’s management of the company, whose behavior he claimed was tantamount to a breach of fiduciary duty, he was fired and a “hangman’s noose” was left on his desk by the company’s general counsel.
Healthcare Information Site Renew Raises $3 Million
Healthcare information site Renew raised a $3 million Series A round from funding from Venrock, Expa, and other investors, reports TechCrunch. The platform is designed to better inform the baby boomer generation on their benefits after retirement.
Real Estate Loan Platform Peer Street Raises $15 Million
Real estate lending platform Peer Street raised a $15 million round led by Andreessen Horowitz, reports Fortune. The company allows accredited investors to invest as little as $1,000 in high-yield real estate loans through its website.
Tastemade Has 20 Million Monthly Views on Instagram Stories
Online lifestyle and food network Tastemade is pulling 20 million monthly views on Instagram Stories, reports DigiDay. The company hasn’t generated any revenue from Instagram Stories, as the app doesn’t offer the opportunity for publishers to run ads and it hasn’t tried any brand integrations yet.