Stories by Garrett
Cali Group looks to revolutionize “antiquated” restaurant industry
Robots and other automation are coming to a local fast-food chain.
Snap skips employee bonuses; Hulu buys Madison Square Garden Theater naming rights; and StartEngine launches first regulated ICO.
Snap putting more than half of office space in Venice up for lease; data visualization startup Virtualitics raises $7 million; and Overwatch League hires former WME-IMG VP of Licensing.
Private equity firm Marlin Equity Partners announced on Feb. 23 that it acquired AddStructure Inc., a developer of search and discovery applications for e-commerce companies, for an undisclosed amount.
Snap’s Spiegel earned $638 million last year; LAist’s assets bought by KPCC; and L.A. movie theaters could have LED screens by April.
Bird Rides takes hit on regs in Santa Monica; Ofo develops local partnerships
Two tech startups bet on bikes and scooters for last-mile commuting.
Longtime center for academics, aerospace R&D stakes claim on startups
Academia, Fortune 500 companies and tech, aerospace, biotech and engineering businesses mix in Pasadena.
Online drone services firm begins testing AR.
Caltius Equity Partners announced on Feb. 22 the sale of its portfolio company Vision Technology Solutions, a website developer for government organizations in the U.S. and Canada, to cloud-based software developer Granicus for an undisclosed amount.
Kylie Jenner’s tweet cuts $1.3 billion off Snap's market value; investment fund Vision Esports raises $38 million; and SpaceX successfully launches, but narrowly misses catching $6 million nose cone.
Investment fund Vision Esports announced on Feb. 22 that it raised $38 million in a round led by Evolution Media, the investment firm backed by Creative Artists Agency and private equity fund TPG Growth.
Snapchat promises update after users balk at redesign; Elon Musk leaves AI foundation he co-founded; and Port Logistics Group invests in e-commerce startup Whiplash.
Spanish engineering firm SENER named Mercedes Sierra as chief executive of its U.S.-based operations on Feb. 20.
Snap CEO Evan Spiegel sold $50 million in stock; NASA certifies Falcon 9 for science missions; and federal judge bars California’s actor-age censorship law.
Elon Musk gets preliminary permit for tunnel in DC; Air Force and Aerojet Rocketdyne renegotiating AR1 development agreement; and IdeaLab’s 3-D printer company New Matter shutting down.
Recent deal increases assets by $240 million; more acquisitions in sights
Task management software Workast raises $1.85 million; Snap CEO Evan Spiegel defends Snapchat redesign; and Air Force moves to buy small rocket launch services.
Billionaire Peter Thiel moving to Los Angeles; custom packaging company Lumi raises $9 million; and DroneBase raises $12 million.
Billionaire investor Peter Thiel is reportedly moving his residence, as well as his venture capital firm and non-profit, to Los Angeles after expressing frustration with what he sees as Silicon Valley’s overwhelming liberal politics and diminishing opportunities for tech investing.
Electric scooter sharing startup Bird raises $15 million; Snap to provide analytics to top Snapchat creators; and SpaceX hits two milestones in plan for low-latency satellite broadband.
Electric scooter sharing startup Bird announced on Feb. 14 that it raised a $15 million Series A round.
Leaf Group raises $23.3 million in secondary offering; online dollar store Hollar contracts with InVia Robotics; and plumbing monitoring company Phyn raises $10 million.
Leaf Group raised $23.3 million in a secondary public offering of its stock on Feb. 12.
California facing competition for video game industry; Snapchat’s new update triggers revolt by teens; and Tony Goncalves hired as CEO of Chernin Group and Otter Media.
California is facing increasing competition from states and national governments for its video game industry, according to a report scheduled to be released on Feb. 13 by the Milken Institute.
Virtual, augmented realities present new opportunities in world of 3-D entertainment
Silicon Beach Report Feb. 9: Snap Is Trying to Lure Instagram Advertisers by Offering Them Free Ads on Snapchat
Snap is trying to lure Instagram advertisers by offering them free ads on Snapchat; Elon Musk explains why SpaceX prefers clusters of small engines for the Falcon Heavy; and digital media drives entertainment employment growth in Los Angeles
Startup grows auto and customer inventory with recent acquisitions
Santa Monica-based flexible car leasing startup Fair, launched by Scott Painter in 2016, continued its flurry of acquisitions last week with the announcement that it bought car rental startup Skurt for an undisclosed amount.
Online sneaker sellers GOAT and Flight Club merge; Hulu lost $920 million in 2017; and U.S. military certification the next big test for Falcon Heavy.
Snapchat to broadcast live NBC’s Olympics Coverage; ZipRecruiter fundraising at nearly $1 billion valuation; and Tesla semi-truck rival Thor demonstrates vehicle.
Falcon Heavy launch completes successful test launch; Snap Inc.’s share price soars after revenue beats expectations; and Brentwood Associates invests in credentials solutions.
Snap Inc.’s share price soared more than 26 percent to as high as $17.80 a share in after-hours trading Tues., Feb. 6 after the Snapchat developer posted revenue for the quarter ended Dec. 31 that beat stock analysts’ expectations.
Fair raises $50 million and acquires rental car delivery service Skurt; Global Eagle submits overdue SEC filings; and Hulu says Super Bowl live-streaming outage was caused by program-extension glitch.
Science closes $75 million fund; Elon Musk’s Boring Co. sells all its flamethrowers; and Snapchat is selling hats and sweatshirts inside its app.
TECHNOLOGY: Legal threats don’t gag employees
Once a tech darling, Snap struggles to get control of employees and share prices.
Joymode raises $14.4 million; SpaceX Falcon 9 rocket survives splash in Atlantic Ocean; and amid satellite TV drop, DirecTV Now streaming service hits 1.2 million subscribers.
Vubiquity to be acquired for $224 million by Amdocs; Santa Monica-based Hawke Media picks up Execute LA of Venice; and Scopely raises $125 million.
Software developer Amdocs announced on Jan. 31 that it entered into an agreement to acquire Burbank video distribution services company Vubiquity for $224 million in cash.
Dog-walking app Wag lands $300 million from SoftBank and appoints new chief executive; Next Trucking raises $21 million in Series B round; and nonprofit fundraising startup Funraise closes $9.7 million round.
Google to move into Spruce Goose hangar this fall; Elon Musk has sold more than $4 million worth of flamethrowers; and inside Jeffrey Katzenberg’s billion-dollar bet on mobile video
Internet Brands Inc. of El Segundo acquired online medical information company WebMD Health Corp. for $2.8 billion in September, a price worth more than the firms’ valuation just a few years ago.
Special Report: Money/Venture Capital Firms
Snap Inc. is, for many Los Angeles venture capitalists, the one that got away.
Silicon Beach Report Jan. 26: Otter Media Buys Remainder of Its Digital Businesses Fullscreen, Ellation
Otter Media buys remainder of its digital businesses Fullscreen and Ellation; no one is going to win the Google Lunar X prize competition; and China’s JD.com aims for logistics facility in Los Angeles.
Mars Reel gets nod of approval, $2.7M from “King,” other investors
Dollars are bouncing into the net of Mars Reel.
Social media platform Greenfly raises $8.5 million; Songtradr raises $4 million in Series A funding round; and Apple launches patient health records app in Los Angeles.
Greenfly, a developer of a social media engagement program, raised an $8.5 million Series B round led by Alpha Edison.
Meg Whitman tapped as chief executive of Katzenberg’s WndrCo; Snap’s VP of product to leave company; and SpaceX conducts Falcon Heavy static fire test.
Silicon Beach Report Jan 23: Esports One Raises $3 Million to Help Viewers Make Sense of E-sports Competitions
Esports One raises $3 million to help viewers make sense of e-sports competitions; Snapchat to let users share content on other social networks; and Boring Co. pitches Culver City Council on tunneling plan.
Why telecom giant SoftBank joined forces with AeroVironment
Drone maker AeroVironment flies its drones high to become mobile telecommunications hubs.
Snap lays off two dozen employees; Activision Publishing CEO Eric Hirshberg leaving in March; and California legislators move forward bill to create California Aerospace Commission.