LA BUSINESS JOURNAL DAILY NEWS
Lucidity Announces $5 Million Funding Round
Marina del Rey advertising blockchain firm Lucidity (an affiliate of KR8OS Inc.) announced Aug. 15 it completed a funding round of $5 million in total, comprised of investments from six venture capital firms.
Silicon Beach Report Aug. 15: AuditBoard Nets $40 Million
Risk and compliance software company AuditBoard raises $40 million; Bird, Lime lead e-scooter protest in Santa Monica; Tinder sues parent company
Greenland Lands $310M Loan for Metropolis’ Third Tower in DTLA
Cottonwood Group, a downtown Los Angeles-based real estate investment firm, and Natixis, a French lender, have arranged a $310 million senior construction loan facility to complete the third luxury residential tower in Greenland USA’s Metropolis project.
Catasys Inc. of Brentwood Reports $4 Million Q2 Loss
Catasys Inc., a digital health analytics company based in Brentwood, reported a $4 million loss in the second quarter despite a jump in billings and enrollment.
Tinder Sues Parent Company
Match Group dating app subsidiary Tinder Inc. has filed a lawsuit against parent company InterActiveCorp., alleging IAC purposefully undervalued the company to avoid proper payouts to executives.
BioSig Tech Gets Federal Green Light to Sell Medical Device
BioSig Technologies Inc., a medical device firm based in West Los Angeles, announced Aug. 14 it had received federal clearance to sell a signal processing platform to assist cardiologists.
Aetna Launches Insurance Plan to Include L.A. County Hospital Networks
Health insurance giant Aetna Inc. has launched a new plan geared for Southern California that includes collaborations with Los Angeles County hospital systems.
Xenon Investments Corp. Picks Up Las Palmas Villa Apartments for $28 Million
The 81-unit Las Palmas Villa Apartments in Hollywood Hills has sold for just over $28 million, according to CBRE Group Inc.
Inception Launches Cannabis REIT
The Inception Cos., a cannabis-focused private investment companies with offices in Beverly Hills and London, has launched a cannabis-focused real estate investment trust.
Silicon Beach Report Aug. 14: Snapchat Gives Creators AR Power
Snapchat enlists Nicki Minaj to show how AR tools let users shop in RL; SpaceX invites guests into the Dragon X; Treyarch testing Battle Royale mode.
Pacific City Financial Completes $47.7 Million IPO
Pacific City Financial Corp. completed its initial public offering with the sale of 2.4 million shares on the Nasdaq at $20 per share, according the bank, which began trading on Aug. 10.
Mary Ricks Named President at Kennedy Wilson
Beverly Hills-based real estate investment firm Kennedy Wilson has named long-time executive Mary Ricks as its president, a newly-created position.
U.S. News Ranks L.A. Hospitals Among the Best in the Nation
Los Angeles County hospitals ranked among the highest in the nation and California, with UCLA Health and Cedars-Sinai both placed among the Top 10, according to a U.S. News and World Report assessment released Aug. 14.
Four Industrial Buildings in Commerce Sell for More Than $20M
Karney Properties Co., a Brentwood-based real estate firm, has sold four industrial buildings totaling roughly 120,000 square feet in Commerce for more than $20 million.
Swissport International to Lay Off 830 Employees at LAX
Swissport International plans to close its ground handling and transportation operations at Los Angeles International Airport and lay off about 830 people, the Zurich, Switzerland-based company said in a letter to the state’s Employment Development Department.
Colliers Acquires Glendale’s CBC Advisors and Adds 10th Area Office
Toronto-based Colliers International Group Inc. has closed on its purchase of CBC Advisors in Glendale, a commercial real estate brokerage franchise, according to Colliers.
Southern Counties Express Acquired for $65 Million
Compton-based logistics company, Southern Counties Express Inc., was acquired for $65 million in cash by competitor Universal Logistics Holdings Inc., the companies announced Aug. 10.
City National Acquires Entertainment Software Company
City National Bank announced Aug. 13 that it acquired Exactuals, a west side-based company that provides electronic payment hub software for entertainers who collect royalty checks.
Silicon Beach Report Aug. 13: Chrome River Inks Deal With Exxon
Chrome River picks up ExxonMobil; Wells leaving Netflix; Bird scooters face vandalism.
Lions Gate Invests in Faith-Based Films
Lions Gate Entertainment Corp. announced a deal Aug. 10 to have priority in distributing films produced by self-described faith-based filmmakers Andrew Erwin, John Erwin, and Kevin Downes.