LA BUSINESS JOURNAL DAILY NEWS

Westwood’s Claremont Hotel Sells for $12 Million, to Get First Renovation

Westwood’s oldest hotel is slated for a makeover. The 55-room Claremont Hotel on Tiverton Avenue, built in 1940, has sold for $12.25 million to Shamina Investments, which intends to give the building its first major renovation, the new owner said Wednesday.

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Faraday Future Facing Trademark Lawsuit Over Name

Faraday Future, the Torrance-based electric car company, is facing a trademark lawsuit from an unrelated business called Faraday Bicycles.

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Silicon Beach Report April 26: Chris Sacca Retires from Startup Investing

Chris Sacca retires from startup investing, Breitbart struggles to define its media role in Trump Era, and Global Eagle CEO says fraud or misconduct not responsible for exec departures and accounting issues.

Chris Sacca Retires from Startup Investing

Prominent seed-stage startup investor Chris Sacca announced in a blog post titled “Hanging up my spurs” on Wednesday that he has retired from venture capital investing.

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Greenlake Investment Management to Open Ziplines at Pacific Crest

A South Pasadena commercial real estate investment firm plans to reopen a 300-acre property in the Angeles National Forest that features a zipline course next month.

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Nicolas Berggruen Purchases Former Edith Mayer Goetz Estate in Holmby Hills for $40 Million

Nicolas Berggruen, once known as the “homeless billionaire,” has purchased the former Holmby Hills mansion of socialite Edith Mayer Goetz for $40 million, listing agent Aaron Kirman of John Aaroe Group said.

Silicon Beach Report April 25: Belgium Telecom Company BICS to Buy TeleSign for $230 Million

Belgium telecommunications company BICS to buy TeleSign for $230 million, in-home clinical trial software startup Science 37 raises $29 million, and Soylent recalls powder after accidental mixing with whey.

Belgium Telecom Company BICS to Buy TeleSign for $230 Million

TeleSign Corp. of Marina del Rey, a developer of user authentication software, announced on Tuesday that it had agreed to be acquired for $230 million in cash by telecommunications company BICS of Belgium.

Silicon Beach Report April 24: Upfront Ventures Joins Jeff Skoll, Paul Allen Investing Arms in $119M Sale of TrueCar Shares

Upfront Ventures Joins Jeff Skoll, Paul Allen Investing Arms in $119M Sale of TrueCar Shares, Disney says more than 160 stations signed up for its clearinghouse, and The New York Times launches content and crossword puzzle on Snapchat.

Cushman & Wakefield Takes Lease at Downtown’s Wilshire Grand

Cushman & Wakefield has signed a 12-year lease to occupy the 24th and 25th floors of downtown’s Wilshire Grand Tower, the real estate services firm said Monday.

Upfront Ventures Joins Jeff Skoll, Paul Allen Investing Arms in $119M Sale of TrueCar Shares

In coordination with a secondary offering of TrueCar’s shares, seven investors plan to sell 7.5 million of the company’s shares at an unannounced upcoming date, worth $118.9 million at the close of the stock market on Monday.

Kennedy-Wilson Holdings Set to Acquire European Subsidiary

Kennedy-Wilson Holdings Inc., a Beverly Hills-based real estate investment company, is reeling in its European subsidiary.

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Partnership Linked to Sons of Armenian Finance Minister Sells Holmby Hills Mansion for $18.8 Million

A limited liability corporation linked to two sons of the Armenian finance minister, Gagik Khachatryan, has sold a home it owned across the street from the Playboy Mansion in Holmby Hills for $18.8 million.

Movers for Week Ending April 21, 2017

Virco Manufacturing Corp. in Torrance was the week’s biggest gainer, jumping 17.1 percent to close at $4.45. Downtown beverage maker Reed’s Inc. also saw big gains, adding 10.5 percent to its stock price to close at $4.75. Real Industry Inc. of Sherman Oaks was the week’s biggest laggard, dropping 14.7 percent to close at $2.03.

L.A. County Hits Lowest Unemployment Rate in Decades

L.A. County’s unemployment rate fell to 4.6 percent in March, the lowest level in at least 30 years, state figures released Friday show.

Silicon Beach Report April 21: Snap Inc. Acquires GeoFilter Patent from Mobi for $7.7 Million

Snap Inc. acquires geofilter patent from Mobi for $7.7 Million, Hyperloop One’s Chief Marketing Officer Kimberly Salzer leaves for Ozobot, and CalTech, UCLA ranked top universities for technology transfer.

Marilyn Monroe’s Brentwood Home Where She Died Listed at $6.9 Million

The Brentwood house where Marilyn Monroe lived and died has hit the market for $6.9 million.

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Sean ‘Diddy’ Combs’ Business Partner Lists Beverly Hills Home for $12.5 Million

Andy Schuon, who co-founded music-focused cable network Revolt Media & TV alongside hip-hop artist and entrepreneur Sean “Diddy” Combs, is selling his Beverly Hills home for $12.5 million.

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Silicon Beach Report April 20: L.A. Seed Funding Falls Sharply in First Quarter

L.A. seed funding falls sharply in first quarter, Brian Lee and Ron Burkle-backed medical apparel Startup Jaanuu raises $5 million from retail execs, and Nasty Gal founder Sophia Amoruso’s dramatic biopic releases Friday on Netflix.

State Chamber Expands List of Job-Killer Bills

The California Chamber of Commerce on Thursday released an expanded list of 23 “job killer” bills that it is targeting for defeat in the state Legislature.

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