LA BUSINESS JOURNAL DAILY NEWS
Online networking marketplace Purple Squirrel has secured $2.7 million in seed funding to support the networking platform’s operational growth needs, according to a company announcement.
Job hunting advice network raises $2.7 million, content management service Edlio acquires app Sangha, and entertainment content startup Pocketwatch raises $6 million.
Measure JJJ, the affordable housing measure approved by nearly two-thirds of Los Angeles city voters last November, is unconstitutional because its local hiring provision discriminates against out-of-state competitors, a federal lawsuit filed last week and made public this week claims.
A mix of 53 townhouses and condos are under construction in the Pacific Palisades and about to begin presales, according to the developers.
Hootsuite acquires Snapchat analytics tool from Naritiv, Hyperloop Transportation Technologies begins construction on pod, and FilmOn loses cable broadcasting appeal.
Los Angeles International Airport officials on Tuesday announced a massive airline relocation plan for May involving 21 airlines moving to different terminals or to different locations within terminals.
L.A. biotech billionaire Patrick Soon-Shiong has upped his stake in Los Angeles Times parent tronc Inc. to 24 percent, nearly overtaking majority shareholder Michael Ferro in a move that may further stoke rumors he could be positioning himself to make a run at the company.
Irwindale pre-packaged salad maker Ready Pac Foods Inc. has been sold to French multi-national food company Bonduelle for $409 million, according to the companies.
The owner of a luxury car dealership in Texas has sold his five-bedroom, six-bathroom oceanfront dwelling in Malibu for about $15.9 million, according to listing agent Madison Hildebrand of Partners Trust Malibu.
The name posted on L.A.’s five ShopHouse Southeast Asian Kitchen restaurants is about to change, but the food will remain similar now that another Asian restaurant concept has taken over the leases.
SpaceX studying Mars mission landing sites, Snap Inc. gets first buy rating from Wall Street firm, and Two Bit Circus develops VR and motion simulator.
Developer Bow West Capital is set to buy a 28-year-old warehouse in Culver City for more than $10 million with plans to convert the 17,490-square-foot property into a creative office.
Anda Realty has purchased a downtown Pasadena office building for $15 million, or $273 a square foot, in an area it knows very well: the corner across the street from its headquarters.
Rosa Foods Inc., maker of the Soylent meal replacement drink, just boosted the nascent office market in downtown’s Arts District, signing a large lease just under $4 a square foot monthly, according to a source familiar with the deal.
Los Angeles Times parent company tronc Inc. is reportedly forcing out its vice chairman and second-largest shareholder, L.A. biotech billionaire Patrick Soon-Shiong.
Billionaire Patrick Soon-Shiong’s NantHealth Inc. was the week’s biggest gainer. The Culver City biotech firm shot up 27.3 percent to close at $5.51. Beverly Hills-based Capricor Therapeutics Inc. was also a big gainer, rising 16.6 percent to close at $3.30. The week’s biggest laggard was The Rubicon Project Inc., which, in addition to seeing founder Frank Addante step-down from his position as chief executive, saw its stock plummet 33.3 percent to close at $5.80.
USC’s Information Sciences Institute, a division of its Viterbi Engineering School, received a roughly $40 million contract this week from Intelligence Advanced Research Projects Activity, a federal government agency.
Residents of L.A.’s urban jungle will soon have access to more open green space.
Kite Pharma names UCLA researcher to board of directors, Embark Ventures looks to raise $50 million venture capital fund.
Real Office Centers has pulled out of its 15-year lease for 27,000 square feet at Atlas Capital Group’s Row DTLA in downtown’s Industrial District, said Ron McElroy, the co-working company’s chief executive.