Fandango wins “Endgame;” SpaceX scales back Starlink satellite program; Parcast Network purchased for $56 million
Beverly Hills-based online movie ticketing site Fandango Inc. announced it raked in $127 million in sales this weekend, thanks to the opening weekend of Marvel film “Avengers: Endgame.” Fandango President Paul Yanover said the company experimented for the first time with holding customers in online "waiting rooms" to stagger ticket buying so its site didn’t crash due to demand. Socaltech reports the company said its sales numbers for “Endgame” represent the largest weekend in its history.
Geekwire reports Hawthorne-based SpaceX will begin launching satellites as part of its Starlink high-speed internet project as early as May. Starlink is SpaceX’s vision of worldwide high-speed internet, and the company was given approval by the Federal Communications Commission to launch 4,425 satellites to facilitate the network. The FCC accepted SpaceX’s petition to put more than a third of the total satellite constellation in low 340-mile high orbit, rather than the 715-mile high orbit approved, and only initially launch 4,409 satellites.
Music streaming giant Spotify acquired Woodland Hills-based podcast studio Parcast Network in March, and VentureBeat reports it paid roughly $56 million for the company. Parcast encompasses two production networks and over a dozen podcasts, many aimed at true crime enthusiasts. Initial reports had valued the transaction at $100 million, but Spotify confirmed the lower price in a recent earnings report. Spotify has spent more than $400 million acquiring podcast startups to date.
Tech reporter Samson Amore can be reached at email@example.com or (323) 556-8335. Follow him on Twitter @samsonamore.
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