TECHNOLOGY

SoftBank Vision Fund Invests $110 Million in Idea Lab's Energy Vault

Renewable energy storage firm Energy Vault, a portfolio company of Pasadena's Idea Lab, received a $110 million investment from SoftBank Vision Fund to scale its operations and expand into international markets.

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Advertising Tech Firm Lucidity Raises $5 Million

Marina del Rey advertising technology outfit Lucidity has raised a $5 million Series A round of funding to invest in engineering, product development and customer support.

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Singularity Six Snags $16 Million

Andreessen Horowitz led a $16.5 million Series A funding round for Sawtelle-based online multiplayer game developer Singularity 6 Corp., which will use the cash to develop its first fantasy multiplayer game.

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Loot Crate Files Bankruptcy, Plans to Sell Assets

Loot Crate Inc., which sells subscription boxes of pop culture apparel and collectibles, filed for Chapter 11 bankruptcy protection Monday.

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Profits Slide at Activision as Competitors Gain Ground

The Santa Monica-based video game publisher behind popular games such as “Call of Duty” and “Overwatch” saw its profits decline more than 18% from this time last year, reporting a net income of $328 million.

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Stamps.com Profit Plunges After Ending Postal Service Partnership

In its first quarterly earnings report since terminating the agreement, Stamps.com posted a net income of $14 million, down 69% from $45.5 million this time last year.

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Postmates is Arriving at Dodger Stadium

The Los Angeles Dodgers named San Francisco-based mobile app Postmates Inc. as a concessions partner — bringing the ease of food pickup into the stadium.

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Tinder Parent Cos. Sued by Former Communications Director

A former executive at West Hollywood headquartered dating app developer Tinder Inc. filed a lawsuit Monday alleging she was sexually assaulted by Gregory Blatt, the company's former CEO.

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Romeo Power Raises $4 Million for Electric Battery Venture

Vernon-based manufacturer Romeo Systems Inc. said Aug. 5 it secured a $4 million investment from HG Ventures to further develop energy-efficient lithium ion batteries.

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Boingo Reports Record Revenue with New Locations, Access Fees

Profits were roughly $216,000 for Boingo Wireless Inc. in the second quarter but the Wi-Fi provider added 10 new internet service locations, setting a quarterly revenue record including about $10 million in access fees.

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Stackin Raises $4 Million for Banking Platform

Venice-based Stackin Inc., a startup that offers financial planning advice via text message, has finalized a $4 million Series A raise to build out its platform and grow operations.

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Loot Crate Closes Warehouse, Lays off 150 Workers

Lincoln Heights-based retailer Loot Crate Inc., which sells subscription boxes of apparel and collectibles, closed down its Vernon warehouse and laid off the facility's 150 workers this month.

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Ordermark Raises $18 Million to Expand Business

Alex Canter, the heir to one of Los Angeles’ most dominant delicatessens, raised an $18 million Series B for Ordermark Inc., his online food ordering and delivery platform.

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Silicon Beach Report July 24: Bryant Stibel Backs Tile

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

Silicon Beach Report July 23: Revenue Rises at Snap

SpaceX resupplies International Space Station; WeRecover uses apps to treat addiction; Snap beats expectations in Q2