Equity Financing: Rightscorp, a Santa Monica provider of monetization services for artists and owners of copyrighted intellectual property, said it has raised nearly $2.7 million in a private financing from the sale of more than 10.6 million common shares to undisclosed institutional investors. The company said the money will be used for general corporate purposes.
Making Cut: Dollar Shave Club, a razor club that mails blades to subscribers, has raised $50 million in Series C funding, bringing its total funding to $73 million. The round was led by Palo Alto’s Technology Crossover Ventures. The company also announced last week that it had hit a benchmark 1 million subscribers.
Ad Tech: Zefr, a video monetization platform in Venice, has acquired Engodo, a Salt Lake City ad tech firm, to help match brands with social media influencers. Engodo focuses on using mobile-first social media platforms such as Vine and Instagram to identify which content creators are right for a brand. It meshes with Zefr, which helps advertisers find and engage with online audiences and has been looking to expand into different platforms. Financial terms of the deal were not disclosed.
Re-Stacked: StackSocial is easing off of its e-commerce site to double down on its native commerce publishing platform. As part of that effort, the Venice company has rebranded as StackCommerce. The name change was made to make a greater distinction between its StackSocial.com site, which sells tech products, and its growing business of helping online publishers market and monetize content.
- SAN FERNANDO VALLEY
Van Nuys & Encino
Taking Off: Two San Fernando Valley aerial photography companies were among six nationwide that received approval from the Federal Aviation Administration to use drones for film and TV production. Van Nuys’ Pictorvision Inc. and Encino’s Astraeus Aerial filed in May for first-time-ever exemptions with the FAA to use unmanned aircraft in U.S. airspace. Transportation Secretary Anthony Foxx determined the aircraft the companies would use posed no threat to national airspace users and would not require an FAA-issued certificate of airworthiness, a lengthy process typically required of makers of full-size aircraft.
Doctors In: IPC the Hospitalist Co. Inc., a North Hollywood provider of doctors to hospitals and nursing homes, has purchased Midland Hospitalists in Midland, Mich. Midland will add about 16,000 annual patient visits to IPC. Financial terms of the deal were not disclosed.
- CENTRAL AREA
Residential Property: Downtown L.A.’s Gemland Properties has purchased a Hollywood apartment complex for $21.3 million from a private investor. The five-story, 24,578-square-foot Carlton at Hollywood building, at 5845 Carlton Way, was vacant at the time of sale as it was just entering the lease-up phase.
- Regional Report
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