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Wednesday, Dec 6, 2023

Silicon Beach Report Feb. 23: DeviantArt Sold for $36M

DeviantArt sold for $36 million, AirMap raises $26 million in round led by Microsoft Ventures, and Disney laysoff 80 Maker Studio employees.

DeviantArt Sold for $36M

Online art sharing website Deviant Art was acquired by website builder Wix for $36 million, reports the Business Journal. DeviantArt will continue to operate as a standalone business and its users will get access to Wix’s web design tools.

AirMap Raises $26 Million in Round Led by Microsoft Ventures

AirMap, a developer of an airspace management app for drones, raised $26 million in a Series B round led by Microsoft Ventures, reports Venture Beat. Other investors in the round include Qualcomm Ventures, Airbus Ventures, Rakuten, Sony, Yuneec, General Catalyst, and Lux Capital.

Disney Lays Off 80 Maker Studio Employees

Walt Disney Co. has laid off 80 Maker Studios employees, reports Variety. Maker Studios had about 380 employees when it was acquired by Disney in 2014 and these terminations are part of Disney’s restructuring of its publishing and digital media division.

Send tips on L.A. tech companies and startups to reporter Garrett Reim via greim@labusinessjournal.com. Follow @garrettreim on Twitter for the latest in L.A. tech news.

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