Snap stock on the upswing; Tile gains $45 million; FanDragon raises seed round

Tile Secures $45 Million, Backed by Bryant Stibel

San Francisco-based Tile, which makes location trackers for small personal items, raised a $45 million seed round to build out its technology on more devices and grow internationally. Socaltech reports that Malibu-based Bryant Stibel Investments, which is co-owned by Kobe Bryant, participated in the round.

FanDragon Raises $12 Million

West Hollywood startup FanDragon Technologies Inc. announced today it raised a $12 million seed round. The company has developed online ticketing technology that uses blockchain to combat fraud by tracking who sells and uses each ticket. The Business Journal reports the company is led by Robert Weiss, former chief executive of Arpanet Group.

Snap Stock Rebounds to IPO Levels

Santa Monica-based Snap Inc.’s stock surged after the company reported its second quarter 2019 earnings yesterday. According to Variety, the company’s stock was trading yesterday at $17.53 before the market closed, marking a 52-week high for the social media tech company.

Tech reporter Samson Amore can be reached at samore@labusinessjournal.com or (323) 556-8335. Follow him on Twitter @samsonamore.

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