LA TECHNOLOGYRecent and archived news stories on: Alternative Energy, Automotive, Computing, Engineering, Internet, Nanotech, Software, Telecom, Wireless...
Snapchat shuts down Story Explorer feature, SpaceX to carry private rover to moon, and tronc Inc. Director Michael Ferro stocks up on additional shares.
Pritzker Group Venture Capital has expanded the number of personnel in its L.A. office in order to pursue more early-stage investments in local tech companies. Partner Gabe Greenbaum and Vice President Peter Liu have relocated from the firm’s Chicago office to Los Angeles. The company also recently hired Nico Gimenez, who joined as an associate. Pritzker is particularly interested in investing in enterprise, consumer tech, healthcare IT software, as well as emerging technologies such artificial intelligence, internet of things, virtual reality.
Activision CEO becomes one of top-paid U.S. executives, Atom tickets partners with Disney for Star Wars Merchandise, and AT&T’s DirecTV launches streaming TV service.
REAL ESTATE: Oracle pays up for Santa Monica office.
Software giant Oracle increases footprint with record Santa Monica office deal.
AEROSPACE: SpaceX sees Earth-encircling system beaming internet globally.
Apparently, Elon Musk’s November wasn’t busy enough.
Breitbart banned from major ad exchange, e-sports franchise Cloud9 raises $2.9 million, and Bridg launches CRM software for restaurants.
Hyperloop One planning self-driving vehicles, SpaceX selected for NASA’s earth survey mission, and Riot negotiating $90M deal to stream League of Legends.
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.
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.
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.
INTERNET: Rubicon faces tough road as independent amid shifting industry.
Ad tech sector’s struggles may help Rubicon Project click as an acquisition target.
SpaceX files paperwork for satellite network, Warner Bros. acquires Machinima in nine figure deal, and AMC Networks acquires minority stake in Funny or Die.
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.
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.
Snap Inc. files for IPO, Aecom halts construction on Faraday Future’s factory, Spaceship Co. partners to develop supersonic aircraft, and more.