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Friday, Jun 9, 2023

Silicon Beach Report Jan. 16: SpaceX Moving Some Operations to Texas

Tinder co-founder sued; SpaceX goes back to Brownsville; Niantic nets Axiomatic investment.

Axiomatic Invests in Niantic Series C

Niantic Inc., developer of mobile game “Pokemon Go,” raised a $245 million Series C round, the company announced Dec. 16. Participating investors included Hancock Park-headquartered Axiomatic Gaming, which operates an e-sports league and contributed funding to Epic Games Inc.’s “Fortnite” game. According to the Hollywood Reporter, “Pokemon Go” surpassed $2 billion revenues in September 2018, two years after its release.

Starship Production Headed to Brownsville

SpaceX will move testing of its Super Heavy and Starship rockets from the Port of Los Angeles to its facility in Brownsville, Texas. The Business Journal reports a SpaceX spokeswoman confirmed the move but noted SpaceX will continue to hold launch and recovery operations for its reusable Falcon Rockets and Dragon spacecraft at the Port.

Tinder Co-Founder Sued by Parent Company

Sean Rad, co-founder of West Hollywood headquartered dating app Tinder Inc., was sued Jan. 16 by Tinder’s parent company, InterActive Corp., for “secretly copying” proprietary information. Reuters reports this lawsuit came six months after Tinder sued IAC for allegedly undervaluing the company. IAC’s suit claims nearly $250 million in damages.

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