Faraday Future said to plan $1 billion fund raising effort, Chef’d raises $10 million, and Disney CEO Bob Iger says hacker threat to release stolen movie was a hoax.

Faraday Future Said to Plan $1 Billion Fundraising Effort

Electric vehicle maker Faraday Future of Gardena is planning to raise $1 billion to support its operations as its main financial backer, LeEcho’s Jia Yueting faces a cash crunch, reports Bloomberg. The startup has begun meeting potential investors and is targeting large sovereign wealth funds.

Chef’d Raises $10 Million

Campbell Soup invested $10 million in El Segundo meal-kit startup Chef'd, reports Fortune. Campbell will also get a board seat and become the company's largest strategic investor.

Disney CEO Bob Iger Says Hacker Threat to Release Stolen Movie Was a Hoax

Walt Disney Co. Chief Executive Bob Iger said that the hacker threat to release the company’s unreleased “Pirates of the Caribbean: Dead Men Tell No Tales,” ahead of its official launch was a hoax, reports Variety. The company now concludes that it was not hacked and that the threat was a bluff.

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.