Los Angeles Business Journal

Silicon Beach Report Jan. 30: Facebook Cloning Efforts Appear to Curb Snapchat

By Garrett Reim Monday, January 30, 2017

Facebook cloning efforts appear to curb Snapchat, Bouqs Co. raises $24 million, Amplify raises $10 million seed fund, and more.

Facebook Cloning Efforts Appear to Curb Snapchat

Efforts by Facebook to take steal away users from Snapchat appear to be making a dent, reports TechCrunch. Social media stars and agencies report slackening engagement on Snapchat, while increasing engagement on Snapchat-like features cloned on Facebook and Instagram.

Bouqs Co. Raises $24 Million

Online flower shop Bouqs Co. has raised a $24 million Series C round of capital led by Partech Ventures, reports Business Journal. The farm-direct online retailer said it had reached an average annual growth rate of 200 percent, though it did not disclose how much revenue it had generated last year

Amplify Raises $10M Seed Fund

Los Angeles accelerator Amplify has raised a $10 million seed fund, its third fund, to invest in early stage startups, reports TechCrunch. So far, the firm has invested $12.6 million, across its first two funds, into 50 startups.

Comparably Raises $7 Million

Comparably has raised a $7 million round to further develop its salary comparison website, reports Venture Beat. The company plans to spend the capital to develop new tools to monitor the job market and acquire to more corporate users.

Send tips on L.A. tech companies and startups to reporter Garrett Reim via greim@labusinessjournal.com. Follow @garrettreim on Twitter for the latest in L.A. tech news.