Los Angeles Business Journal

Silicon Beach Report March 16: Honest Co.’s CEO Brian Lee Steps Down

By Garrett Reim Thursday, March 16, 2017

Honest Co.’s CEO Brian Lee steps down, venture capital firm Blockchain Capital raises funds by selling digital currency, and SpaceX successfully launches EchoStar satellite.

Honest Co.’s CEO Brian Lee Steps Down

Honest Co. co-founder Brian Lee stepped down Thursday from his role as chief executive, reports the Business Journal. He is replaced as chief executive by Nick Vlahos, who was previously the executive vice president and chief operating officer of the Clorox Co. of Oakland.

Venture Capital Firm Blockchain Capital Plans to Raise Funds by Selling Digital Currency

Blockchain Capital plans to raise a $50 million venture capital fund, partially through the sale of its own digital currency, reports Reuters. The bulk of the capital will come from the firm's partners, but the rest will be raised through an “initial coin offering” of proprietary digital tokens, called BCAP.

SpaceX Successfully Launches EchoStar Satellite

Space Exploration Technology Corp. launched on of its Falcon 9 rockets carrying an EchoStar 23 satellite on Thursday, reports SpaceNews. The company did not attempt to recover the rocket via a landing because the craft needed to use up its fuel to lift the heavy satellite into orbit.

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.