Los Angeles Business Journal


Recent and archived news stories on: Alternative Energy, Automotive, Computing, Engineering, Internet, Nanotech, Software, Telecom, Wireless...

Silicon Beach Report Nov. 11: Snap Inc. Opens Spectacles Store in NYC

Snap Inc. opens Spectacles store in New York City, across the street from Apple store, NBC Universal plows $200 million more into Buzzfeed, and virtual reality video distribution platform Vrideo shuts down.

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Hyperloop One Settles Employee Lawsuit

Hyperloop One has settled a breach of fiduciary lawsuit brought by Brogan BamBrogan, its former chief technology officer and co-founder, and three other employees, the Business Journal reports. In a complaint filed July in Los Angeles Superior Court, BamBrogan claimed he was fire after he was critical of Hyperloop One Board Chairman Shervin Pishevar’s management of the company, whose behavior he claimed was tantamount to a breach of fiduciary duty. Terms of the settlement were not disclosed.

Silicon Beach Report Nov. 11: Hyperloop One Settles Employee Lawsuit

Hyperloop One settles employee lawsuit, Tastemade has 20 million monthly views on Instagram Stories, real estate loan platform Peer Street raises $15 million, and healthcare information site Renew raises $3 million.

Silicon Beach Report Nov. 17: SpaceX Files Paperwork for Satellite Network

SpaceX files paperwork for satellite network, Warner Bros. acquires Machinima in nine figure deal, and AMC Networks acquires minority stake in Funny or Die.

Silicon Beach Report Nov. 16: Snap Signs Deal with Foursquare to Improve Geofilter Targeting

Snap signs deal with Foursquare to improve geofilter targeting, Aecom halts construction on Faraday Future’s Las Vegas factory, and WaiveCar expands fleet with electric vehicles from Hyundai.

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Snap Inc. Files for IPO

Snap Inc., parent company and developer of messaging app Snapchat, has confidentially filed for an initial public offering of its stock with the Securities and Exchange Commission, according to multiple press reports. The Venice-based company would likely initiate its IPO in March, an offering which would value the company between $20 billion and $25 billion, according to sources cited by Reuters and The Wall Street Journal. It was also reported last month that startup is seeking to raise up to $4 billion from its offering. The firm was valued at $17.8 billion by private investors during a fundraising round in May.

Silicon Beach Report Nov. 15: Snap Inc. Files for IPO

Snap Inc. files for IPO, Aecom halts construction on Faraday Future’s factory, Spaceship Co. partners to develop supersonic aircraft, and more.

Silicon Beach Report Nov. 14: Breitbart’s Former Exec Chairman Steven Bannon to Become White House Chief Strategist

Breitbart’s former Executive Chairman Steven Bannon to become White House chief strategist, Peter Csathy argues Disney should buy Netflix and hire Reed Hastings as its next CEO, and marketers grumble about Snapchat’s ad measurement features.

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Content Firm Draws Suitors

INTERNET: Zealot execs may move to acquire firm.

Two years after Maker Studios co-founder Danny Zappin was ousted as head of the online video firm, a group of former and current executives at his new venture, Zealot Networks, is trying to acquire the branded content company and replace him as chief executive. Zealot co-founder Robert Vanech, the firm’s former chairman and chief financial officer, said he had approached Zappin about the deal and was seeking the backing of private investors and a publicly traded media company to back the bid.

Silicon Beach Report Nov. 11: Zealot Networks Draws Suitors

Zealot Networks draws suitors, Nevada official concerned Faraday Future caught in Ponzi scheme, and Rubicon reports record video advertising surrounding election.

Silicon Beach Report Nov. 10: Nasty Gal Files for Bankruptcy

Nasty Gal files for bankruptcy, Snapchat to launch roving vending machines for its Spectacles, and Greenfly raises $6.2 million.

Activision Blizzard Plans E-Sports League with City-Based Teams

Snapchat launches rewind feature, Hyperloop One studying Dubai for possible first route, and Activision Blizzard plans e-sports league with city-based teams.

Silicon Beach Report Nov. 7: Soylent Believes Algae Ingredient Made Customers Sick

Soylent believes algae ingredient made customers sick, Google invested in Snapchat, and Faraday Future’s financier facing cash crunch.

Silicon Beach Report Nov. 4: Snapchat Founders Add Share to Maintain Control After IPO

Snapchat founders add class of shares to maintain control after IPO, website optimizer Zarget raises $6 million, and Snapchat launches a ‘Snapshow’ with Jimmy Fallon.