Funding Treat: TreatFeed, the maker of a multilevel marketing-driven shopping application, has raised $5.4 million in venture funding led by Norwest Venture Partners, a Palo Alto venture firm. The app allows a user to earn points that can be redeemed for products, deals and cash by sharing deals with members of the user’s TreatFeed social network.
MARINA DEL REY
Office Space: Barrister Executive Suites Inc., an L.A.-based developer and manager of office properties, will open a second location in Marina del Rey on May 1. The 20,000-square-foot building is at 475 Washington Blvd.
WEST LOS ANGELES
Buying In: MarketShare, a maker of marketing analytics software, has received $32 million in private equity from Elevation Partners, an investment firm with offices in San Francisco and New York. MarketShare said it would use the funding for acquisitions and overseas expansion.
Hollywood Production: Media Services, a West L.A.-based accounting, payroll and crew booking company, has relaunched its website with two new tools. Its Global Crew Booking Portal offers free online searches for crew and equipment resources by area. Showbiz Incentives Online offers information on regional production tax incentives.
DOWNTOWN LOS ANGELES
Realty Merger: Peregrine Realty Partners LLC, a downtown L.A.-based real estate services firm, has merged with ZMI Real Estate LLC, a Newport Beach real estate firm. The combined company will continue as Peregrine Realty Partners. ZMI founder Stephen Zotovich will join the Peregrine board.
Taking Shape: Bravada International Ltd., an L.A.-based apparel maker specializing in women’s exercise clothes, has announced that is has narrowed more than $1 million in debt over the last two quarters. The company also announced the acquisition of Bravada.com., which will be home to an e-commerce site.
Healthy Injection: Children’s Hospital Los Angeles in Los Feliz has received a five-year, $1.5 million grant from the Pediatric Cancer Research Foundation, an Irvine-based non-profit. The grant will support clinical trials in the hospital’s Children’s Center for Cancer and Blood Diseases to identify and test therapies intended to decrease toxicity of treatments and improve patient outcomes and survival rates.
The interview with Metrolink Chief Executive John Fenton headlined “Line Driver” in the April 18 issue should have stated that a new high-tech braking system will be in place by the end of next year, not this year. Also, a program he implemented saves 800,000 gallons of fuel a year, not 800. His father was a minister for 30 years, not 50, and his son-in-law works for railroad company CSX, which was misspelled.
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An article in the April 18 issue headlined “Foes Pile Up on L.A. Trash Plan” incorrectly stated that John Jones, chief executive of Greystone Management Group, said trash fees jumped 20 percent or more on his company’s buildings in Inglewood and Hawthorne when those cities set up franchise systems. The article should have reported that Jones said the rates in Inglewood and Hawthorne are 20 percent higher than they are in Los Angeles due to the franchise system.
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The phone number for Inter/Media Group of Cos. in the April 4 list of advertising agencies should have been (800) 846-3289.
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The February Mergers & Acquisitions Report in the March 28 edition mistakenly listed CyberDefender Corp. as having been acquired by creditors. In fact, CyberDefender restructured a $5 million revolving credit facility and $5.3 million in long-term convertible debt financing provided by GR Match LLC.
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