Netflix subscriptions drop; Techstars begins new L.A. class; Fifth Wall completes huge fund raise
Fifth Wall Ventures, a Venice-based venture capital firm focused on connecting tech startups with large, established real estate players, has raised more than a half-billion dollars for a new fund — making the fledgling VC firm among the largest, most active players in Los Angeles, the Business Journal reports. Fifth Wall said in a filing with federal securities regulators today that the oversubscribed $503 million fund attracted 114 investors.
Techstars Los Angeles has announced its 2019 accelerator class, which runs for three months and concludes with a demonstration day in October. Ten companies are in this class, and Socaltech reports eight of them are headquartered in L.A. County. Each participating company in the Techstars program receives a $100,000 check in addition to mentorship and office space.
Variety reports Netflix Inc., which has significant operations in Hollywood, has seen a dip in its total number of streaming subscribers for the first time since the company was founded. The company lost a net 130,000 subscribers in the second quarter of 2019.
Tech reporter Samson Amore can be reached at email@example.com or (323) 556-8335. Follow him on Twitter @samsonamore.