A weekly roundup of must-read L.A. tech investments and acquisitions.
United Online
$170 million
Type: Acquisition
Location: Woodland Hills
Buyer: B. Riley Financial
Description: Internet portfolio company United Online has agreed to be acquired by B. Riley Financial, in a deal worth $170 million in cash, or $11 a share. The transaction comes seven months after B. Riley first made a higher offer, $12.5 a share, for the company, which was rejected. Since then United Online has been reviewing alternatives for the company, including a sale.
LAbite
Undisclosed
Type: Acquisition
Location: Culver City
Buyer: Grubhub
Description: LAbite was one the few regional food delivery companies left in Los Angeles, as national players such as GrubHub, UberEats, and Amazon Fresh have crowded into the market and gobbled up rivals. Despite increasing competition from national players, LAbite said it processed $80 million in orders last year, up from $40 million in 2014. The company also took out its first small-business loan last year for $3.5 million to acquire Eat Out In of Austin, Texas, and Waiters on Wheels in San Francisco.
I.am+
Undisclosed
Type: Purchase
Location: Hollywood
Acquired: Sensiya
Description: Israeli machine learning company Sensiya was acquired by i.am+, a smartwatch startup founded and backed by musician will.i.am. I.am+ makes a smartwatch named the Dial, which hasn’t been released yet. The company has been working with Sensiya to develop software that learns from the behavior of watch wearers and adjusts to anticipate users’ needs. Sensiya employs a team of 25 people outside of Tel Aviv, Israel.
Club W
$17.5 million
Type: Equity
Location: Playa Vista
Investors: Series B round was led by led by Hong Kong’s Shining Capital with participation from Bessemer Venture Partners.
Description: Wine subscription service and online retailer Club W raised its Series B round to further expand. The company also makes and distributes its own wine.
Sixgill
$6 million
Type: Equity
Location: Santa Monica
Investors: DRW Ventures and Mobile Financial Partners
Description: Location tracking software company Sixgill raised funds to expand its sales and marketing efforts, as well as to invest in product development. The company’s software helps manufacturers track the location of important assets and send messages to employees as they pass by certain areas.
Technology reporter Garrett Reim can be reached at [email protected]. Follow him on Twitter @garrettreim for the latest in L.A. tech news.