Silicon Beach Report April 24: Upfront Ventures Joins Jeff Skoll, Paul Allen Investing Arms in $119M Sale of TrueCar Shares
Upfront Ventures Joins Jeff Skoll, Paul Allen Investing Arms in $119M Sale of TrueCar Shares, Disney says more than 160 stations signed up for its clearinghouse, and The New York Times launches content and crossword puzzle on Snapchat.
In coordination with a secondary offering of TrueCar’s shares, seven investors plan to sell 7.5 million of the company’s shares at an unannounced upcoming date, worth $118.9 million at the close of the stock market on Monday.
Snap Inc. acquires geofilter patent from Mobi for $7.7 Million, Hyperloop One’s Chief Marketing Officer Kimberly Salzer leaves for Ozobot, and CalTech, UCLA ranked top universities for technology transfer.
TECHNOLOGY: Wilcon Operations’ $600 million deal reflects industry trend.
Crown Castle International Corp. agreed last week to acquire downtown telecommunications firm Wilcon Operations in a $600 million deal with private equity firm Pamlico Capital.
AEROSPACE: Aerojet may seek lift in satellite service
Aerojet Rocketdyne may look to pad its rocket revenue by adding satellite launch services.
L.A. seed funding falls sharply in first quarter, Brian Lee and Ron Burkle-backed medical apparel Startup Jaanuu raises $5 million from retail execs, and Nasty Gal founder Sophia Amoruso’s dramatic biopic releases Friday on Netflix.
While venture capital investment in L.A. startups rose slightly in the first quarter of 2017, seed-stage investments went in the other direction.
Analyst says Facebook monopoly crushing competitors such as Snapchat, Hyperloop One delays testing of pod, and Jam City launches bubble shooter game based on ‘Peanuts.’
Snap launches additional augmented reality features for Snapchat, Facebook defends Snap copying strategy, says it’s just getting started, and TeleSign launches self-service APIs.
Telecom firm Wilcon acquired for $600 million by Crown Castle Corp., SpaceX’s August hyperloop competition will test maximum speed, and alleged comments from Snap CEO Evan Spiegel drop stock.