Aerojet Rocketdyne acquired missile manufacturer Coleman Aerospace for $15 million, reports Space News. Coleman Aerospace builds a mix of small, medium, and intermediate-range ballistic missile targets for the U.S. Missile Defense Agency.
Snap Inc. founders Evan Spiegel and Bobby Murphy secured a tight grip on voting shares after a bad deal was struck with early investor Lightspeed Venture Partners, reports The New York Times. The terms of the early investment gave Lightspeed outsized power over the company’s future financing round, which irked Snap’s chief executive Spiegel, who took steps to reassert control over the company.
At its peak, Nasty Gal’s online clothing retail business brought in $85 million in sales and was the darling of the fashion world, but a several factors sent it into bankruptcy a few years later, reports The Wall Street Journal. Leadership turnover, poor communication, and a “toxic” culture hurt the company’s bottom line, according to 10 former employees.
Send tips on L.A. tech companies and startups to reporter Garrett Reim via firstname.lastname@example.org. Follow @garrettreim on Twitter for the latest in L.A. tech news.
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