A weekly roundup of must-read L.A. tech investments and acquisitions.
$105 million
Type: Earn-out
Location: Culver City
Investor: Walt Disney Co.
Description: After falling short of its first set of performance goals, Maker Studios will receive a $105 million payment from parent Walt Disney Co., shy of the $198 million it could have received under the terms of its 2014 acquisition. Disney bought Maker in 2014 for $500 million in cash with another $450 million in payments possible if certain benchmarks were met. This $105 million bonus represents the first of two likely earn-outs for Maker.
$600,000
Type: Equity
Location: Downtown Los Angeles
Investors: Pipeline Fellowship
Description: Happily secured a seed round from Pipeline Fellowship, a syndicate of female angel investors focused on investing in women-led startups. The Happily app helps couples plan their weddings by giving them a checklist, email reminders, tips and access to event planners and other staff needed for the event.
One Month, Rallyteam, Strive and Workpop
$500,000 each
Type: Equity
Location: Santa Monica
Investor: Cornerstone OnDemand
Desciption: Santa Monica human resource software company Cornerstone OnDemand made its first investments out of its venture arm, the Innovation Fund. Investments included $500,000 in New York’s One Month, an online course catalog; San Francisco’s Rallyteam, a cloud-based platform for managing employee engagement; Santa Monica’s Strive, a cloud-based platform for automating the recruitment of technical hires; and “a little less than” $500,000 in Santa Monica’s Workpop, a job board focused on service economy work. The Innovation Fund plans to make three to five investments a year, typically in amounts of $250,000 to $1 million.
Technology reporter Garrett Reim can be reached at [email protected]. Follow him on Twitter @garrettreim for the latest in L.A. tech news.
