Netflix makes offer to buy L.A. billboard company; car-sharing app moves into Los Angeles; Postmates and DoorDash mulling merger.
Netflix Inc. is offering more than $300 million to buy Regency Outdoor Advertising, a West Hollywood-based company that owns billboards across Los Angeles, Reuters reports. This would be the largest acquisition for Netflix, which has a studio in Hollywood.
Getaround, the San Francisco-based car-sharing company, announced its expansion into Greater Los Angeles, according to PR Newswire. Angelenos can now rent nearby cars as well as put their own cars up for rent, all through the Getaround iOS or Android app and without the need to meet up in person.
Postmates and DoorDash have discussed a merger that would unite two of the largest restaurant-delivery startups in the U.S. in a bid to take on better-funded competitors like GrubHub, Uber and Amazon, multiple sources told Recode. DoorDash announced it had bulked up its balance sheet with a $535 million investment led by SoftBank’s Vision Fund. That cash infusion has left Postmates, which last raised $140 million in 2016, in the daunting position of being one of the least-capitalized major players in the industry.
Technology reporter Eli Horowitz can be reached at firstname.lastname@example.org. Follow him on Twitter @coachhorowitz13 for the latest in L.A. tech news.