CAA launches tech startup studio with $12 million in funding, SpaceX details satellite constellation plans to Congress and AirBnB to generate nearly $1 billion in L.A. County activity, study says.
Creative Artists Agency on Friday announced Creative Labs, a Vancouver-based startup studio designed to dream up and develop new businesses that leverage CAA's resources and relationships, The Hollywood Reporter reports. The venture has raised $12.5 million from investors that include Boatrocker Ventures, eOne, Real Ventures, Seedcamp Ventures and London's Telegraph Media Group.
SpaceX said it is within months of launching the first satellites of its orbiting constellations designed to bring internet to every corner of the globe, SpaceNews reports. The company’s first two prototype satellites will launch “within the next few months” to validate in-house technology ahead of an operational launch campaign in 2019.
L.A. County AirBnB host revenue and visitor spending will generate about $906 million in overall economic output annually, according to a study from the Los Angeles County Economic Development Corp. commissioned by the company, the Business Journal reports. Overall economic output included direct sources of revenue, including visitor spending; indirect sources of revenue, including money paid to suppliers; and induced sources of revenue, or the household spending made possible by new jobs and earnings created by the direct and indirect impacts.
Technology reporter Garrett Reim can be reached at email@example.com. Follow him on Twitter @garrettreim for the latest in L.A. tech news.