The flow of venture capital dollars invested into Los Angeles-area companies fell 16.3 percent from a high of $4.17 billion in 2015 to $3.49 billion last year, reports the Business Journal. However, the dip in L.A. funding was smaller than the national drop in venture capital investment, which fell 32.2 percent from $77.3 billion in 2015 to $52.4 billion last year.
The Honest Co. is recalling all of its organic baby powder, according the firm’s website. The product is being recalled due to possible contamination with microorganisms, including some species associated with skin infections or eye infections.
Snap, Inc., the parent company of Snapchat, has been sued in a patent infringement suit, by Vaporstream, a company which develops secure-messaging apps for corporations, reports SoCal Tech. One of the patents covers a system where an "electronic message is permanently automatically deleted from the system at a predetermined time."
Digital media company Studio71 raised $56 million from French TV network TF1 Group and Italian broadcaster Mediaset in a deal that values the firm at $425 million, reports Variety. Studio71, majority owned by German broadcaster ProSiebenSat.1, will set up operations in France and Italy.
TechStars adding another local accelerator, the TechStars LA program, to its music and healthcare accelerators, according to the company’s blog. The firm has also named Anna Barber as the managing director of its local program.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Silicon Beach Report July 17: Fifth Wall Raises $500 Million Fund to Invest in Real Estate Technology
- Silicon Beach Report Oct. 7: Techstars Launches Music Accelerator
- Silicon Beach Report Oct. 26: Snapchat Aiming to Raise As Much as $4 Billion
- Silicon Beach Report Oct. 25: Hyperloop One Raising $250M
- Silicon Beach Report June 7: Snap Eyes Ticket Sales with New Feature
- Silicon Beach Report Jan. 19: Two Bit Circus Raises $15M to Launch Amusement Park
- Disney Accelerator Parts Ways With Techstars
- L.A. Tech Deal Flow: July 10