LA BUSINESS JOURNAL DAILY NEWS

SpinLaunch Wins First Department of Defense Contract

Long Beach-based aerospace firm SpinLaunch Inc. announced June 20 that it had won a contract from the Department of Defense to develop a small satellite launch system prototype.

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Ghost Management Group Signs 115K SF Arts District Lease

The Irvine-based tech company that runs the website weedmaps.com, has signed a 115,000 square foot office lease in the Arts District.

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West L.A. Retail Center Sells For $14M

A retail center in West L.A. was purchased by Los Robles Office Partners for $13.5 million, according to property records.

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Dave Inc. Raises $110 Million, Launches Banking Business

Santa Monica-based Dave Inc., developers of a financial management mobile app designed to prevent bank overdrafts, announced June 19 a $110 million debt funding raise.

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Silicon Beach Report June 19: Overdraft Protection App Developer Raises $110 Million

Greycroft backs Enboarder again; Happy Returns selects new chief revenue officer; Dave Inc. raises $110 million

Greycroft Leads $8 Million Enboarder Series A

Downtown headquartered venture capital firm Greycroft Partners led a $8 million Series A round for Austin, Texas-based human resources software developer Enboarder Inc.

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Silicon Beach Report June 18: Elevate Secures $25 Million

HipDot finds $2.5 million; Bird hopes to migrate to NYC; Elevate raises $25 million venture round

ManifestSeven Purchases Cannabis Delivery Service

Commerce-based cannabis logistics company ManifestSeven purchased San Diego-based marijuana delivery service to help scale its distribution operation statewide.

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Stone Canyon Industries Holdings Sells $1.8B Stake in Firm

Century City-based Stone Canyon Industries Holdings announced June 18 that it sold a $1.8 billion equity stake in the company to a number of pension funds and family offices. Cash from the transaction was used to help pay for the recent purchase of Reddy Ice Holdings Inc., and the remainder will be used for future acquisitions.

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Arcadia Shopping Mall to Be Converted to Mixed-Use Community

Lennar Homes has purchased a shopping center in Arcadia from the Olson Company.

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Taxes, Infrastructure and Homelessness Top Concerns in New Local Business Poll

New and increasing taxes, deterioration of public infrastructure and rising homelessness are the top concerns in a new poll released June 17 of Los Angeles County business owners and executives conducted by the Los Angeles County Business Federation and the Employers Group.

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20 in their 20s Special Report

They're a group as diverse, innovative, and ambitious as Los Angeles itself. Meet this year's 20 in their 20s - our sampling of the city's brightest young business talent. Spanning industries such as tech, media, real estate, and finance, these rising stars are making an exception.

Disney-owned Fox studios set to lay off 87

Twentieth Century Fox Film Corp. continues to shed employees in the wake of its purchase earlier this year by Walt Disney Co.

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Silicon Beach Report June 17: Sunbit Secures $26 Million

SpaceX considers bid on NASA lunar supply mission; Survios expands VR game offerings; Sunbit finds $26 million

KCRW Employees Unionize Under SAG-AFTRA

The employees of National Public Radio member station KCRW in Santa Monica voted June 14 to have the Screen Actor’s Guild represent them as their union.

Silicon Beach Report June 14: Bird Required to Pay Tariffs on Chinese Imports

Bird, Uber tariff relief requests denied; AppOnBoard buys BuildBox; Pluto TV links with Comcast

Riot Games Under DFEH Investigation

California's Department of Fair Employment and Housing has launched an investigation into Sawtelle-based Riot Games for alleged gender bias and other discriminatory conduct.

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Colony Capital Refinances Nearly $2B

Downtown-based Colony Capital Inc. has refinanced $1.725 billion of consolidated debt in its healthcare portfolio.

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Silicon Beach Report June 13: Sure Raises $23 Million

Bird paid $25 million for Scoot; Sure raises $23 million; Disney Plus subscriber projections

Toymaker MGA Proposes Merger with Rival Mattel

Chatsworth toy manufacturer MGA Entertainment Inc. made a bid last month to merge with rival toy company Mattel Inc., in El Segundo, which rejected the offer.