A weekly roundup of must-read L.A. tech investments and acquisitions.
Part of Match Group’s IPO
Type: Public stock sale
Location: West Hollywood
Investors: General public
Description: New York’s IAC/InterActiveCorp plans to spin off its Match Group dating division, which includes Tinder, into another public company in the fourth quarter. IAC said it would sell a 20 percent stake in Match Group as part of the offering. Pricing and volume of shares have not been announced. Tinder’s financials are not disclosed, but the dating app has added revenue streams lately, including paid subscription features and advertisements.
Related: IAC to IPO Tinder Parent Match Group
$75 million
Type: Equity
Location: Venice
Investors: Led by Technology Crossover Ventures, with participation from Dragoneer, Comcast Ventures and Forerunner Ventures.
Description: Less than nine months after it raised a $50 million investment round, Dollar Shave Club has just raised $75 million more in a Series D round. The round values the company at $615 million, the Wall Street Journal reported. Dollar Shave Club reported revenue of $64 million last year, up from $19 million a year earlier, and estimates it will have sales of $140 million this year. It is not profitable.
Related: Dollar Shave Club Reloads on Cash
$5 million
Type: Equity
Location: Los Angeles
Investors: Slow Ventures, March Capital and Pritzker Capital, with angel investors Paul Jacobs, James Lassiter, Stephen Rader, Jamie McCourt, Lionel Richie and Mike Wortsman.
Description: Heal is an app for ordering house visits by doctors. The app allows users to book appointments, track doctors en route and rate their service. Doctors show up in less than 60 minutes for about $100 a visit.
Related: App Has Line On House Calls
$75 million
Type: Venture fund raise
Location: Venice
Investors: The James Irvine Foundation, Top Tier Capital and others
Description: The new CrossCut 3 fund aims to make 25 to 30 early stage investments over the next two to three years, with 80 percent going to L.A. companies. The fund has already invested in MobCrush of Santa Monica, smart watch app development studio Little Labs of Venice and in-home tech support startup HelloTech of West Los Angeles and said its focus will include SaaS, e-commerce, ad tech, gaming, mobile app and online marketplace companies.
Related:CrossCut Raises $75 Million to Invest in Early Stage L.A.
Technology reporter Garrett Reim can be reached at [email protected]. Follow him on Twitter @garrettreim for the latest in L.A. tech news.
