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Garrett Reim

Stories by Garrett

Silicon Beach Report May 25: Faraday Future Said to Plan $1 Billion Fundraising Effort

Faraday Future said to plan $1 billion fundraising effort, Chef’d raises $10 million, and Disney CEO Bob Iger says hacker threat to release stolen movie was a hoax.

Silicon Beach Report May 24: Snapchat Offering Discounts to Advertisers

Snapchat offering discounts to advertisers, Aerojet Rocketdyne engines to power experimental military spaceplane, and podcast search engine launched.

Silicon Beach Report May 23: Real Office Centers, Co-Working Tenants Evicted from Santa Monica Office

Real Office Centers, co-working tenants evicted from Santa Monica office, Snapchat launches custom group stories, and Pepsi to label millions of cans with Snapchat codes.

Real Office Centers, Co-Working Tenants Evicted from Santa Monica Office

Real Office Centers and its co-working tenants at a Santa Monica building received an eviction notice Monday from their landlord, Hudson Pacific, who said the company hadn't paid rent in April and May.

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Silicon Beach Report May 22: Snapchat Has Lead in Augmented Reality

Snapchat has lead in augmented reality, Faraday Future founder steps down from CEO role at LeEco, and Hulu signs exclusive video-on-demand deal for ABC’s ‘Fresh Off the Boat.’

Avery Dennison Corp. Acquires Irish Medical Supplier

Avery Dennison Corp. of Glendale announced on Monday that it had acquired Finesse Medical, an Irish medical supply manufacturer, for an undisclosed amount.

Silicon Beach Report May 19: Snap Executive Promotes Brand Engagement, Despite Slow User Growth

Snap executive promotes brand engagement, despite slow user growth, Fox developing ‘Alien’ multiplayer virtual reality game, and micro drone racing takes off in Los Angeles.

Big Lift for Rocket Firms

AEROSPACE: Popularity of 3-D printers rises in industry as speedy, cost-saving tool.

Three-D printing has taken off as a cost-saving method for rocket manufacturers.

Investors Ready to Gamble on Gaming Company

TECHNOLOGY: Gamblit raises $25 million in round as Las Vegas comes calling.

Gamblit Gaming raised a $25 million round of capital from undisclosed investors on May 9 to finance the manufacturing and development of additional touch-screen gambling machines.

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Silicon Beach Report May 18: Social Native Raises $8 Million

Social Native raises $8 million, former Yahoo interim CEO joins SteelHouse board, and DogVacay to shut down and transition customers to Rover.

Silicon Beach Report May 17: Virtual Reality Co. to Premiere ‘Raising a Rukus’ at L.A.’s Imax VR Center

Virtual Reality Co. to premiere ‘Raising a Rukus’ at L.A.’s Imax VR Center, Surf Air receives noise complaints from residents near Santa Carlos Airport, and Team Liquid Partners with gaming analytics company Mobalytics.

Virtual Reality Co. to Premiere ‘Raising a Rukus’ at L.A.’s Imax VR Center

Virtual Reality Co. plans to premiere its “Raising a Rukus” virtual reality experience at the flagship Imax VR Center in the Fairfax District on Friday.

Silicon Beach Report May 16: Upload Raises $4.5 Million

Upload raises $4.5 million, lens replacement startup Lensabl raises funding, and FilmOn settles lawsuit with broadcasters CBS, Fox, and NBC.

Silicon Beach Report May 15: SpaceX Settles Overtime Pay Class Action for $4 Million

SpaceX settles overtime pay class action for $4 million, Snap launches new camera lens ads, and hackers may have stolen unreleased Disney movie, Chief Executive Bob Iger tells staff.

SpaceX Settles Overtime Pay Class Action for $4 Million

SpaceX settled an overtime pay class action with 4,100 workers on Wednesday for $4 million.

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Spy Satellite May Mean Launch Firm on Way Up

AEROSPACE: Military deals could help SpaceX cope with swings in commercial orders.

Military contracts could provide a big lift to SpaceX’s launch business.

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Silicon Beach Report May 12: Elon Musk’s Boring Co. Begins Horizontal Digging in Hawthorne with Tunneling Machine

Elon Musk’s Boring Co. begins horizontal digging in Hawthorne with tunneling machine, military could have low-cost launch market in five years with increased investment, and Social Reality rebrands as SRAX.

Silicon Beach Report May 11: Lions Gate Ordered to Pay $5.8 Million to 'Biggest Loser' Star Jillian Michaels for Airing Workout Videos on YouTube

Lions Gate ordered to pay $5.8 million to 'Biggest Loser' star Jillian Michaels for airing workout videos on YouTube, TrueCar adds pricing information to eBay Motors, and Lyft moving into space in Arts District.

Silicon Beach Report May 10: Snap Inc. Reports Slow User Growth, Shares Drop More Than 25 Percent

Snap Inc. reports slow user growth, SpaceX considering sending two Dragon capsules to Mars in 2020, and Jordan Levin named CEO of AwesomenessTV.

Snap Inc. Reports Slow User Growth, Shares Drop More Than 25 Percent

Snap Inc., parent company of Snapchat, reported a net loss of $2.2 billion (-$2.31 a share) during its first quarter as a public company, stemming mostly from stock-based compensation issued to employees for its initial public offering in March.

Silicon Beach Report May 9: Snapchat Photos Can Now Be Viewed Indefinitely

Snapchat photos can now be viewed indefinitely, Cover raises $1.6 million to build prefab structures for homes, and SpaceX tests Falcon Heavy core.

Snapchat Photos Can Now Be Viewed Indefinitely

Snapchat users can now opt to allow their photos to be viewed indefinitely instead of having them disappear after 10 seconds, according to a statement released by Venice’s Snap Inc. on Tuesday.

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Silicon Beach Report May 8: Snap Inc. Reportedly Disinterested in Snapchat Users in the Developing World

Snapchat reportedly disinterested in users in the developing world, Aerojet Rocketdyne says AR1 rocket engine development is on schedule, and Revolution Prep raises $4 million.

Silicon Beach Report May 5: SpaceX to Relaunch Second Used Rocket in June

SpaceX to relaunch second used rocket in June, Ellen DeGeneres adds show to YouTube, and agencies say Snapchat self-service feature will make it competitive with Facebook.

Larger Companies Enter Orbit of Sector Startups

AEROSPACE: Linking up with new players can provide boost to vets such as Aerojet.

Large companies such as Lockheed Martin look for a lift by connecting with startups.

Billionaire Brothers Jump Into Funding

Frank and Lorenzo Fertitta form eponymous investment venture.

Former mixed-martial-arts executives get into ring with funding with launch of Fertitta Capital.

Investors Still Have Hunger for Meal Replacement

FOOD: Parent company of Soylent piles up $50 million in Series B funding round.

Meal-replacement drink manufacturer Rosa Foods Inc., maker of the Soylent food alternative, has raised a $50 million Series B round led by GV (formerly Google Ventures) with participation from Tao Capital Partners as well as prior investors Lerer Hippeau Ventures and Andreessen Horowitz.

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Silicon Beach Report May 4: Soylent Raises $50 Million, Plans In-Store Sales

Soylent raises $50 million, plans in-store sales, Leaf Group acquires home goods e-retailer Deny Designs for $12 million, and Snap Inc. hires media companies to produce original shows for Snapchat

Soylent Raises $50 Million, Plans In-Store Sales

Meal-replacement drink manufacturer Rosa Foods Inc., maker of the Soylent drink, announced on Thursday that it had raised a $50 million Series B round led by GV (formerly Google Ventures) with participation from Tao Capital Partners, and prior investors Lerer Hippeau Ventures and Andreessen Horowitz.

Silicon Beach Report May 3: Study Estimates 46 Percent of Snapchat Users Don’t Use Instagram

A study by App Annie estimates that 46 percent of Snapchat users don’t use Instagram, Pluto TV signs TV and movie deal with Lions Gate, MGM, and Warner Bros, and Hulu launches live TV programming.

Silicon Beach Report May 2: Former UFC Owners Launch Fertitta Capital With $500 Million Fund

Former UFC owners launch Fertitta Capital with $500 million fund, Venice venture capital fund raises $212 million aimed at real estate tech, and Disney rebrands Maker Studios as Disney Digital Network.

Former UFC Owners Launch Fertitta Capital With $500 Million Fund

Fertitta Capital launched its first fund on Monday, worth $500 million, which it plans to invest in technology, media, and entertainment companies.

Silicon Beach Report May 1: SpaceX Launches First Spy Satellite

SpaceX launches first spy satellite, Awesomeness signs Netflix movie deal, and Snapchat rolls out new viewability score.

Silicon Beach Report April 28: Musk Reveals Multistoried Tunnel System Concept in Video

Musk reveals multistoried tunnel system concept in video, Virgin Galactic’s Richard Branson noncommittal on SpaceShipTwo launch dates, and blue collar online job marketplace Work Today raises $1.1 million.

Musk Reveals Multistoried Tunnel System Concept in Video

Elon Musk revealed a conceptual video of a multistoried tunnel system under the city of Los Angeles, which he aims to build with his startup Boring Co., at a TED conference in Vancouver, Canada, on Friday.

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Ethnic Banks Say Tech Now Speaks to Customers

Next Generation

Ethnic banks once focused on immigrant customers invest in connecting with the next generation.

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U-Turn Spurs Sell-Off

INTERNET: Stock rebound for TrueCar drives investors to offer up 8 million shares.

Investors in vehicle-shopping site TrueCar are sold on an offering of 8 million shares.

Seed Stage Investor Breaks With Roots

Chris Sacca’s new direction after venture capital could mean bigger role in Hollywood production.

Early stage tech investor Chris Sacca is pulling the plug on future seed ventures.

Silicon Beach Report April 27: Elon Musk’s Boring Co. Machine Revealed

Elon Musk’s Boring Co. machine revealed, SpaceX launches top-secret satellite for National Reconnaissance Office, and mobile-phone tracking startup Sense360 raises $7 million.

Elon Musk’s Boring Co. Machine Revealed in Picture

Elon Musk’s budding tunneling company, Boring Co., showed signs of progress on Thursday as an employee posted an image of what appears to be the company’s first boring machine.

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Silicon Beach Report April 26: Chris Sacca Retires from Startup Investing

Chris Sacca retires from startup investing, Breitbart struggles to define its media role in Trump Era, and Global Eagle CEO says fraud or misconduct not responsible for exec departures and accounting issues.

Chris Sacca Retires from Startup Investing

Prominent seed-stage startup investor Chris Sacca announced in a blog post titled “Hanging up my spurs” on Wednesday that he has retired from venture capital investing.

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Silicon Beach Report April 25: Belgium Telecom Company BICS to Buy TeleSign for $230 Million

Belgium telecommunications company BICS to buy TeleSign for $230 million, in-home clinical trial software startup Science 37 raises $29 million, and Soylent recalls powder after accidental mixing with whey.

Belgium Telecom Company BICS to Buy TeleSign for $230 Million

TeleSign Corp. of Marina del Rey, a developer of user authentication software, announced on Tuesday that it had agreed to be acquired for $230 million in cash by telecommunications company BICS of Belgium.

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.

Upfront Ventures Joins Jeff Skoll, Paul Allen Investing Arms in $119M Sale of TrueCar Shares

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.

Silicon Beach Report April 21: Snap Inc. Acquires GeoFilter Patent from Mobi for $7.7 Million

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.

Rocket Firm High on New Course in Business

AEROSPACE: Aerojet may seek lift in satellite service

Aerojet Rocketdyne may look to pad its rocket revenue by adding satellite launch services.

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Fiber-optics Company’s Sale a Crowning Moment

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.

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Silicon Beach Report April 20: L.A. Seed Funding Falls Sharply in First Quarter

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.

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