Head of Sony Entertainment, Michael Lynton, steps down to become Snap chairman, Rubicon shares soar after rumor of a sale, RadPad acquired after rough 2016, and more.

Head of Sony Entertainment Steps Down to Become Snap Chairman

The chief executive of Sony Entertainment, Michael Lynton, is leaving the company to become chairman of Snap Inc., reports the New York Times. Lynton was an early investor in Snap and is also a board member of the company.

Rubicon Shares Soar After Rumor of a Sale

Ad-tech firm Rubicon Project’s shares rose 12.3 percent today after report from The Wall Street Journal that the company was considering a sale, reports Ad Age. The news comes about month after the company announced the lay off 125 employees, or about 19 percent of its workforce.

RadPad Acquired After Rough 2016

Apartment listing service RadPad Inc. of Venice has been purchased by tenant-screening service LandlordStation of Dallas for an undisclosed amount, reports the Business Journal. The development comes after a challenging year for RadPad, which included layoffs and a court battle with San Francisco’s Craigslist Inc.

Spaces Raises $6.5 Million from Chinese Theme Park Company

Virtual reality firm Spaces has raised $6.5 million in funding led by China’s Songcheng Performances Development Co., a theme-park company, with other participating investors including previous investor Comcast Ventures. Songcheng and Spaces previously had a formed a joint venture to build VR attractions at theme parks in China.

SpaceX Plans to Launch Falcon 9

Space Exploration Technologies Corp. plans to launch its Falcon 9 rocket on Saturday, the first time since September when its rocket exploded on the Launchpad, reports Ars Technica. Saturday's launch will lift 10 Iridium NEXT satellites to low-Earth orbit.

Send tips on L.A. tech companies and startups to reporter Garrett Reim via greim@labusinessjournal.com. Follow @garrettreim on Twitter for the latest in L.A. tech news.

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