Hollar announces search for new CEO; Snapchat to give free ads to startups; and Hyperloop Transportation Technologies raises $1.2 million to study Cleveland-Chicago route.
Online dollar store Hollar has commenced a search for a new CEO, Recode reports. The company’s co-founder and current CEO David Yeom confirmed the search, which he said he is leading with the help of an outside firm, although the reason for the leadership change is not yet clear.
Snap Inc. is ramping up its strategy of offering smaller advertisers free ad credits and discounts on creative services in the hopes that some of those brands will continue advertising on Snapchat, Adweek reports. Snapchat is targeting startups affiliated with seed-funding accelerator Y Combinator and other accelerator programs.
Hyperloop Transportation Technologies (HTT) and the Northeast Ohio Areawide Coordinating Agency announced they’ve raised $1.2 million to study the feasibility of a Great Lakes Hyperloop link between Cleveland and Chicago, Cleveland.com reports. HTT, based in Playa Vista, provided the names of 18 businesses and nonprofit or academic organizations that have joined their partnership for the project.