Stories by Eli
Pray.com raises $14 million; Desilu Studios acquires Vonetize; and Clearlake Capital closes Fund V with $3.6 billion.
Clearlake Capital Group, the Santa Monica-based investment firm, announced it completed fundraising for its Fund V at $3.6 billion.
Silicon Beach Report March 15: Snapchat Posts Ad Referencing Domestic Violence, Stock Drops 4 Percent
Snapchat posts ad referring to domestic violence, stock drops 4 percent; Newegg becomes retail partner of Red Bull Gaming Sphere; and SpaceX wins $290 million government contract.
An ad for a Snapchat game asking Snapchat users whether they would rather “slap Rihanna” or “punch Chris Brown” drew criticism from Rihanna on another social media outlet and was soon followed by a 4 percent drop in the stock price for Snap Inc., the parent company of Snapchat.
Jam City acquires assets of Brainz; SpaceX lands contract with DigitalGlobe; and Snoop Dogg’s Casa Verde Capital closes debut fund.
OpenX reports over $170 Million in 2017 revenue; Wpromote lands investment from Shamrock Capital; and Allison Checchi named COO of Atom Tickets.
OpenX, a Pasadena-based programmatic advertising technology company, announced $172 million in 2017 revenue in a March 13 report. The company has grown for 10 consecutive years and has been profitable for four straight, according to a company statement. In addition, OpenX invested $50 million into research and development this past year.
Lyft grows three times faster than Uber; Clearlake Capital acquires Provation Medical; and Snapchat to release nonfiction crime series produced by Conde Nast.
City National Bank announced March 12 the hiring of Matthew Peron as chief investment officer of its City National Rochdale subsidiary. City National Rochdale, which has headquarters in Beverly Hills and New York, oversees $37 billion in assets of families, individuals and institutions.
Bird raises $100 million in Series B; Tech Fair LA; and Upfront Ventures proposes term sheet requiring companies to interview women and underrepresented groups.
14,500 job seekers attended the second annual Tech Fair LA at the Reef in Downtown Los Angeles. The event was created and hosted by Comparably CEO Jason Nazar, in partnership with Mayor Garcetti and the Annenberg Foundation. Attendees had the opportunity to meet 250 companies, including SpaceX, Zip Recruiter, GOAT, YouTube and Lyft.
Santa Monica-based Bird, an electric vehicle sharing company, announced a $100 million Series B funding round on March 9. Valor Equity and Index Ventures were the primary investors, while Craft Ventures and Goldcrest increased their existing investments. Additional investors included Tusk Ventures and Upfront Ventures.
Engagement ring app Sparkly lets user select look, set up secret registry.
Hollywood company wants to modernize engagement ring buying.
Atom Tickets raises $60 million; EvGo taps Cathy Zoi as CEO; and Stamps.com’s ShippingEasy targets Amazon sellers.