A weekly roundup of must-read L.A. tech investments and acquisitions.
Social Gaming Network
$130 million
Type: Equity
Location: Culver City
Investor: Netmarble Games
Description: This investment makes Seoul’s Netmarble the largest shareholder in SGN, and the money will fuel SGN’s expansion into Asia. Netmarble will use SGN’s connections and expertise to expand in the West. SGN said it will use its new cash to buy up smaller game publishers, expand advertising and grow distribution of games into new Asian markets.
Related: Mobile Game Developer SGN Gets $130 Million for Asia Expansion
Thrive Market
$32.9 million
Type: Equity
Location: Culver City
Investors: 191 listed in filing
Description: The funding was revealed in a Securities and Exchange Commission filing. The filing said 191 investors participated, an extraordinarily high number of backers. That number may indicate Thrive Market raised cash through a syndicate of angel investors and venture capital firms, perhaps on a platform like AngelList. Dana Settle, partner at downtown Los Angeles venture capital firm Greycroft Partners, was listed on the filing, indicating that firm may have participated in the round.
Related: Thrive Market Leaps to $32.9 Million Round
StyleBee
$1 million
Type: Equity
Location: Los Angeles
Investors: Y Combinator and other undisclosed investors
Description: StyleBee is a stylist and makeup artist on-demand app with about 600 stylists in its directory. The service costs $50 per visit, not including tips. StyleBee takes a cut of from 20 percent to 33 percent of each transaction. The service is available in Los Angeles and San Francisco.
Midroll
Undisclosed amount
Type: Acquisition
Location: Hollywood
Acquirer: E.W. Scripps
Description: By buying up Midroll, Scripps is betting it can capitalize on the popularity of podcasting while it’s young and growing. Midroll’s network will give Scripps a large share of the podcast advertising market, as the company sells advertising on behalf of about 200 podcasts and produces 35 podcasts of its own, which focus on comedy and pop culture.
Related: Scipps Buys Podcast Network Midroll
Technology reporter Garrett Reim can be reached at [email protected]. Follow him on Twitter @garrettreim for the latest in L.A. tech news.
