Silicon Beach Report June 30: Disney to Buy $3.5 Billion Stake in Online MLB

By staff-author

June 30, 2016

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Farm Financing Platform Produce Pay Gets $2.5M

Farming finance platform Produce Pay of downtown Los Angeles has raised a $2.5 million seed round, reports TechCrunch. So as to help farmers maintain a healthy cash flow before their goods are sold at market, Produce Pay uses its platform to buy their produce at a 1 percent to 4 percent discount when it ships.

Honest Co. Slowly Moving Towards IPO

With $275 million in revenue last year and the majority of the $222 million round it raised last year still on hand, Honest Co. will be taking its time to make an initial public offering of its stock, reports Bloomberg. Several of the company’s board members said they are in no rush for a liquidity event and will be waiting for the best time and place to IPO.

Woven Digital Raises $18.5M

Men’s lifestyle media company Woven Digital of Culver City raised a $18.5 million round led by WPP Ventures, the investment arm of advertising firm WPP, reports Variety. The funding will be used to expand its studio operations and original video production, as well as scale its coverage of news, sports, and entertainment.

Disney to Buy $3.5 Billion Stake in MLB Online Video

Walt Disney Co. agreed to acquire a one-third stake in the video-streaming unit of MLB Advanced Media, in a deal valued at about $3.5 billion, reports Bloomberg. The online unit of MLB, which is jointly owned by 30 baseball teams, is poised to grow as online viewership of baseball increases.

Disney Launches Kid-Friendly Content App

Walt Disney Co. launched the kid-friendly Disney LOL app, reports The Hollywood Reporter. The app features a variety of content for young users including interactive Disney videos, games, memes, GIFs, jokes, trivia, and polls.

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