City of L.A. passes voluntary scooter ban; $45 million for Real Estate Exchange expansion; OpenX hires former Fandango CFO

REX Gains $45 Million Series C

Woodland Hills-headquartered REX Real Estate Exchange Inc. announced Jan. 22 it completed a $45 million Series C fundraising round, bringing the online realtor’s total funding to $75 million since 2014. Socaltech reports the round featured several individual donors, including former Google Senior Vice President Amit Singhal, Best Buy founder Dick Schultze, and Scott McNealy, founder of Sun Microsystems. The platform allows home sellers to list their property for sale at a 2 percent commission and uses an artificial intelligence to automate listings.

Board of Supervisors Votes for Voluntary E-Scooter Ban

The unincorporated areas of L.A. County, such as Altadena and East Pasadena, are struggling to contain a growing influx of e-scooters without regulations in place. The LA Times reports the City Board of Supervisors voted last week to instate a voluntary ban in these areas, requesting scooter operators refrain from deploying their fleets until regulations are enforced. According to the Times, 5 percent of Bird Rides Inc.’s scooters are in unincorporated areas, while Neutron Holdings Inc.’s Lime scooters occupy roughly 2 percent.

OpenX Hires New Chief Financial Officer

Rob Leff, former Chief Financial Officer for Sawtelle-based movie ticketing app Fandango Inc., joined Pasadena headquartered mobile advertising software firm OpenX Jan 22. The Business Journal reports Leff will help OpenX expand its video offerings and expansions into Southeast Asia. Prior to his tenure at OpenX, Leff also served briefly as chief financial officer for Lincoln Heights-based subscription box retailer LootCrate Inc.