Hyperloop Transportation Technologies Partners with South Korea, AEG invests in e-sports team Immortals, Chinese tech company invests $179 million in Newegg, and more.
A Chinese tech company announced Tuesday that it would invest more than $179 million to increase its stake in online electronics retailer Newegg Inc. to almost 94 percent from 55.7 percent, according to Bloomberg.
Hyperloop Transportation Technologies has announced new partnerships with South Korean entities as it moves forward on its plans to implement its patented technologies in South Korea.
E-sports is finding a home in downtown. Anschutz Entertainment Group announced an investment in e-sports franchise Immortals that makes it a team owner and home-venue operator for the team.
Snap signs $100 million deal with Time Warner, Garcetti, Musk discusses tunnel possibility and cloud service company wants $550 million.
Snap Inc. and Time Warner Inc. announced a global partnership to develop made-for-Snap shows over the next two years. The deal, reportedly valued at $100 million, will include both entertainment and advertising content.
Scopely raises $60 million, VentureDevs to open West Hollywood office, and tech startup HelloTech powers Altice service.
Mayor Garcetti plans tech jobs for L.A.’s youth, insurance mobile app startup Sure raises $8 million, and computer software company Datum Security acquired by Prevalent.
Snap Inc. signs data subscription deal with Factual, storage startup Clutter raises $64 million, and baby food subscription service Yumi raises $4.1 million.
Factual Inc. announced on Tuesday that it signed a deal to sell its location data to Snap Inc. for use in Snapchat.
Snap rolls out ad manager for small businesses, United Launch Alliance wasn’t allowed to bid for Air Force X-37B launch won by SpaceX, and Imax plans to lay off 100 employees in cost-cutting move.
Snap Inc. rolled out its ad manager tool on Monday, which makes it easier for small businesses to buy and manage ad campaigns on Snapchat.
Mayor Eric Garcetti announces launch of the Digital Makers Exhibit pilot program to cut film-permitting costs for small and digital-first productions, and LACMA launches Kickstarter campaign to fund move of egg-shaped museum from Guatemala City to Los Angeles.
TECHNOLOGY: He stands by LAX tunnel proposal despite city officials’ doubts.
Boring Co. founder Elon Musk acknowledged last week that his company would likely struggle to gain government approval for a tunnel extending from Los Angeles International Airport to Sherman Oaks, but said the endeavor was still worth a shot.
Elon Musk says Boring Co. odds of success low, but still worth it, Los Angeles Cleantech Incubator names new chief executive, and augmented reality firm Daqri lends helmet to flying “Iron Man” demo.