Seed Round: FameBit, a 6-month-old Santa Monica startup that connects YouTube video creators with advertisers, has raised a $1.4 million seed round led by Science Inc., 500Startups, DeNA and Machinima founder Allen DeBevoise. The company will use the money to fuel growth and scale its team of employees.
WEST LOS ANGELES
Merger: West L.A. boutique investment bank B. Riley & Co. has completed its merger with Great American Group Inc., a Woodland Hills liquidation and inventory-lending company. Great American of Woodland Hills will issue 4.2 million shares and exchange them for 100 percent of the stock of privately held B. Riley. Great American and B. Riley will operate together under a publicly traded holding company.
MARINA DEL REY
Agency of Record: Nobles Global Communications, a Marina del Rey firm focused on health care clients, has become the agency of record for Pasadena’s Calhoun Vision, developer of an ocular technology to treat cataracts that is undergoing trial for approval in the United States. Nobles’ work will include PR initiatives to raise the visibility of Calhoun with potential investors and increase understanding of the technology.
Series B: MiTú, a Latino YouTube network in Culver City, has raised $10 million in Series B funding led by Upfront Ventures. MiTú said it will use most of the funding round to build out production facilities in Los Angeles and Mexico City as well as expand its engineering and sales teams.
DOWNTOWN LOS ANGELES
Common Stock: Open Bank has closed a private placement totaling $30 million of common stock. The proceeds from the capital raise will be used for general corporate purposes. The shares were offered and sold to institutional investors and a number of other accredited investors.
Quake Impact: Pasadena’s Jacobs Engineering Group Inc. has received a three-year contract to work on the Land Drainage Recovery Program for Christchurch, New Zealand. The program comprises 52 projects that will investigate the impacts of prior earthquakes and assist with flood-response planning. Financial terms of the deal were not disclosed.
Retail Property: Irvine’s MBK Real Estate Cos. has acquired a Gardena retail building for about $4.2 million from Farwest Corrosion Control Co. of Downey. The 48,000-square-foot property, at 1480 W. Artesia Blvd., was built in 1965 and originally zoned for industrial but was rezoned for retail use. MBK plans to demolish the building and construct residential condos on the site.
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