LA BUSINESS JOURNAL DAILY NEWS

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.

Tease photo

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.

Tease photo

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.

Tease photo

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.

L.A. Seed Funding Falls Sharply in First Quarter

While venture capital investment in L.A. startups rose slightly in the first quarter of 2017, seed-stage investments went in the other direction.

Brian Lee, Ron Burkle-backed Medical Apparel Startup Jaanuu Raises $5 Million from Retail Execs

A medical apparel startup looking to disrupt the industry has raised $5 million from investors, including former executives from ecommerce women’s clothier Nasty Gal Inc. and Nordstrom.com, the company announced Wednesday.

Tease photo

Silicon Beach Report April 19: Analyst Says Facebook Monopoly Crushing Competitors Such as Snapchat

Analyst says Facebook monopoly crushing competitors such as Snapchat, Hyperloop One delays testing of pod, and Jam City launches bubble shooter game based on ‘Peanuts.’

AST Sportswear Takes Over Former American Apparel Manufacturing Site

With the lease officially signed in the fourth quarter of 2016, Brea-based AST Sportswear Inc. has finally moved into the former American Apparel facility in Hawthorne.

Measure to Study the Shutdown of Oil Wells Near Homes and Schools Introduced to L.A. Council

Los Angeles City Council President Herb Wesson on Wednesday introduced a motion calling for a study of the feasibility of enacting a half-mile buffer zone around all oil drilling operations in the city, a move that could ultimately lead to the shutdown of hundreds of wells.

Silicon Beach Report April 18: Snap Launches Additional Augmented Reality Features for Snapchat

Snap launches additional augmented reality features for Snapchat, Facebook defends Snap copying strategy, says it’s just getting started, and TeleSign launches self-service APIs.

Wilshire Grand Offices Set to Ink Tenant

The tallest tower in the West, the 73-story Wilshire Grand Center in downtown, appears close to claiming its first major office tenant.

Tease photo

Commonwealth Business Bank Reports Net Income Rise in First Quarter

Commonwealth Business Bank released its first quarter earnings report on Tuesday, showing growth in net income and diluted earnings per share.

Prev